| Benefits & Administration | Employers Unprepared for Post-ACA Reform | “Preparing for a post-health care reform era” is
a vital benefits objective, say 61% of plan sponsors surveyed in the Guardian
Workplace Benefits Study, but just four in 10 feel prepared to meet it. As
employers face this myriad of reforms and regulations, 60% admit they need help
managing the ACA terrain, with three trends—increased outsourcing, reliance on
private exchanges, and consideration of self-insurance—gaining momentum. Read more > | Americans Share Financial Regrets | Although 59% of Americans set a goal to save for
retirement in 2015, only 31% are doing so, according to a new survey of 1,000
people with investable assets between $50,000 and $250,000 conducted by Bank of
America and Merrill Edge. Thirty-six percent of respondents said they wish they
had stuck to a budget in the past five years. While 51% set a goal to pay down
debt in 2015, only 38% accomplished this.Read more > |
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| PLANSPONSOR Awards | We are now accepting nominations for the 2016
PLANSPONSOR Plan Sponsor of the Year awards. We are looking for plans of all
types—pension (private and public), 401(k), 403(b), 457, public DC, etc.—and of
all sizes. Nominations close November 4.Read more > | | Webcast Event | The retirement market is maturing as transformative
trends play out. Join SEI experts John Alshefski and Robert Muse, as well as
Strategic Insight’s Bridget Bearden, as they discuss dynamics in the retirement
market today and opportunities going forward. The discussion will cover regulatory
focus on improving retirement outcomes; product innovation leading to
solution-oriented strategies; and growing participant awareness of retirement
income needs.Read more > | | Economic Events | The U.S. Census Bureau of the Department of
Commerce announced that construction spending during September was estimated at
a seasonally adjusted annual rate of $1,094.2 billion, 0.6% above the revised
August estimate of $1,087.5 billion. The September figure is 14.1% above the September
2014 estimate of $959.2 billion. During the first nine months of this year,
construction spending amounted to $786.6 billion, 10.5% above the $711.8
billion for the same period in 2014. | | Market Mirror | Stocks posted
solid gains Monday, adding to last month’s big advances and pushing the Dow
Jones industrial average into positive territory for 2015, according to the
Associated Press. The Dow was up 165.22 points (0.94%) at 17,828.76, the NASDAQ
gained 73.40 points (1.45%) to finish at 5,127.15, and the S&P 500
increased 24.69 points (1.19%) to 2,104.05. The Russell 2000 climbed 24.23
points (2.09%) to 1,186.09, and the Wilshire 5000 closed 249.29 points (1.15%)
higher at 21,897.79.
On the NYSE,
3.2 billion shares changed hands, with advancing issues outnumbering declining
issues more than 4 to 1. On the NASDAQ, 2.7 billion shares traded, with a more
than 3 to1 lead for advancers.
The price of the 10-year Treasury note was down 7/32,
increasing its yield to 2.171%. The price of the 30-year Treasury bond
decreased 14/32, bringing its yield up to 2.946%.
| | Compliance | Lawsuit Questions Custom Target-Date Fund Construction | A participant in retirement plans sponsored by
Intel Corporation has filed a lawsuit claiming custom-built investment
portfolios within the plan are too heavily invested in imprudent investments. The
gravamen of the complaint is that the asset-allocation models adopted by the
retirement plans’ investment committee departed dramatically from prevailing
standards employed by professional investment managers and plan fiduciaries,
and as a result, caused participants to suffer massive losses and excessive
fees. However, the lawsuit more subtly hints that what some would call “best
practices” in defined contribution retirement plans caused a great number of
participants to be invested in these alleged improper investments.Read more > | | From the Magazine | A Suggested Compliance Guide | To help sponsors ensure they are in line with
best practices, we have compiled a list of suggested review items gathered from
conversations across the industry, with advisers, recordkeepers and attorneys,
among other experts. This list is by no means exhaustive but intended to be a
reference guide. Non-ERISA
(Employee Retirement Income Security Act) 403(b) plans may need to adhere to
comparable rules specified by state law. The sponsors of those plans should
consult with legal counsel to ascertain whether they are complying with
applicable laws, but this checklist may also be used as a guide for non-ERISA
plans.Read more > | | Investing | Q3 Market Drop Socks It to Institutional Investors | In the third quarter, institutional asset owners
lost 4.6% at the median, according to Northern Trust Universe data. However, corporate
Employee Retirement Income Security Act (ERISA) plans were the relative best
performer among plan types. The data shows how asset allocation affected the
numbers.Read more > | | Small Talk | ON THIS DATE: In
1507, Leonardo DaVinci was
commissioned by the husband of Lisa Gherardini to paint her. The work is known
as the Mona Lisa. In 1796, John
Adams was elected the 2nd U.S. President. In 1911, Chevrolet Motor Car Company was founded by Louis Chevrolet
and William C. Durant. In 1973, the
U.S. launched the Mariner 10
spacecraft. It became the first spacecraft to reach the planet Mercury. In 1975, “Good Morning America”
premiered on ABC-TV. In 1992, Carol
Moseley-Braun became the first African-American woman U.S. senator. In 2005, Walt Disney Pictures released
“Chicken Little.” It was the first Disney film completely created
with computer animation. In 2014, in
New York City, One World Trade Center opened for business. | TRIVIAL PURSUITS: The
word “brand” typically refers to the proprietary name of a company or product,
but that doesn’t make sense in the phrase “brand new.” Ever wondered why we say
something is “brand new?”Read more > | Share the good news with a friend! Pass the Dash along – and tell your
friends/associates they can sign up for their own copy.Read more > |
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