Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 3rd, 2017
2018 Plan Sponsors of the Year
Deadline to Nominate Plan Sponsors Is Monday!
If you work with or for, or know of, a great plan sponsor, plan adviser or plan adviser team, please help us recognize the best in the business. For plan sponsors, nominations may be made by providers, advisers, consultants, actuaries, attorneys, third-party administrators, employees and colleagues, or, you can even nominate yourself. The award is given in many categories to recognize all plan types, so any plan sponsor can be eligible.Read more >
Benefits & Administration
Participants Not Foregoing 401(k) Contributions for HSA Contributions
While the number of health savings account (HSA) holders on Fidelity’s platform increased 35% over the last year, a Fidelity analysis indicates that workers who contribute to their HSA are not doing so at the expense of their 401(k) contributions. Individuals who contribute to both their HSA and their 401(k) contributed an average of 9.9% at the end of Q3, compared to a contribution rate of 8.5% for individuals who only contribute to their 401(k). And that 8.5% average 401(k) contribution in the third quarter is the highest percentage in almost 10 years, according to Fidelity.Read more >
New Financial Audit Rule Increases Requirements for Plan Sponsors
2021 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Participants Missing the Full Match Remains a Big Problem
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
Products, Deals and People
Investment Products and Services Launches
Franklin Templeton presents upcoming passive ETFs; CLS partners with five providers to launch ETF models; PFM acquires FCM assets to include stable value investments offering.Read more >
Economic Events

In the week ending October 28, the advance figure for seasonally adjusted initial claims for unemployment insurance was 229,000, a decrease of 5,000 from the previous week’s revised level of 234,000. The four-week moving average was 232,500, a decrease of 7,250 from the previous week’s revised average of 239,750. This is the lowest level for this average since April 7, 1973 when it was 232,250.

The average interest rate for a 30-year fixed-rate mortgage is 3.94%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.27%, up from 3.25%.

Sponsored message from Charles Schwab Retirement Plan Services, Inc.
Workplace Financial Wellness
Insights on definition, design, and what’s driving decisions for financial wellness programs in the workplace.

Read more >
Market Mirror

Thursday, the Dow increased 81.25 points (0.35%) to 23,516.26, the NASDAQ decreased by 1.59 (0.02%) to 6.714.94, and the S&P 500 was virtually unchanged at 2,579.85. The Russell 2000 was up 3.77 points (0.25%) at 1,496.55, and the Wilshire 5000 was down 20.74 points (0.08%) at 26,776.52.

The price of the 10-year Treasury note was up 8/32, decreasing its yield to 2.344%. The price of the 30-year Treasury bond increased 19/32, bringing its yield down to 2.829%.

Tax Reform Proposal Includes Important Changes for Plan Sponsors
The GOP tax reform proposal leaves 401(k) deferrals alone, but there are other significant reforms in the package that would change the treatment of hardship withdrawals and in-service distributions for DC, DB and 457 plans, among others.Read more >
Retirement Account Deferrals Protected in GOP Tax Proposal
On the same day the GOP majority in the House of Representatives released its preliminary draft of a sweeping tax reform proposal, Burton Keller, an executive vice president with Delta Data, sat down with PLANSPONSOR to offer his thoughts about how the ongoing tax debate may intersect the retirement planning industry—whether or not 401(k) accounts in particular are targeted as source of new revenue. Important to note at the outset, the draft text of the legislation has just been released and appears to leave 401(k) account tax-deferral limits alone.Read more >
IRS Extends Disaster Relief to Hurricane Maria, Wildfires Victims
The Internal Revenue Service (IRS) has relaxed loan and hardship distribution rules for victims of Hurricane Maria and the wildfires in California. This is similar to the relief provided earlier to Hurricanes Harvey and Irma victims.Read more >
Treasury, IRS Issue Priority Guidance Plan
The Treasury Department and the Internal Revenue Service (IRS) released the 2017-2018 Priority Guidance Plan, listing projects the agencies hope to complete during the twelve-month period from July 1, 2017, through June 30, 2018. Among its list for retirement plans are projects for which guidance has been long-awaited from the agencies.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 1892, the first automatic telephone went into service at LaPorte, Indiana. The device was invented by Almon Strowger. In 1911, Chevrolet Motor Car Company was founded by Louis Chevrolet and William C. Durant. In 1957, Sputnik II was launched by the Soviet Union. It was the second manmade satellite to be put into orbit and was the first to put an animal into space—a dog named Laika. In 1973, the U.S. launched the Mariner 10 spacecraft. It would become the first spacecraft to reach the planet Mercury. In 1975, “Good Morning America” premiered on ABC-TV. In 1986, the Ash-Shiraa, a pro-Syrian Lebanese magazine, first broke the story of U.S. arms sales to Iran to secure the release of seven American hostages. The story turned into the Iran-Contra affair. In 1992, Carol Moseley-Braun became the first African-American woman U.S. senator. In 2014, in New York City, One World Trade Center opened for business.

And now it’s time for FRIDAY FILES!

This little girl found a way to get “Chatty Kathy” to stop talking to her on an airplane.Read more >
This weather man lost his head when delivering the Halloween forecast.Read more >
The ring bearer at this wedding delivered the ring in his own unique way.Read more >

In Sapulpa, Oklahoma, the local newspaper found fodder for a news report in its own bathroom. Sapulpa Herald publisher Darren Sumner headed to the restroom at his office and when he opened the door, a hissing bobcat jumped at him. He shut the door, trapping it inside, until wildlife control workers came and captured it.

In Youngstown, Ohio, The Vindicator reports 972 Youngstown State University students, alumni and community members gathered on the school’s campus in their best penguin finery to celebrate the school’s 50th anniversary as a university. Youngstown State’s mascot is the Penguin. The event apparently broke a mark recognized by the Guinness Book of World Records when 624 people dressed as penguins gathered at a children’s hospice in England in 2015.

In Kahului, Hawaii, a man was ordered in February to stop contacting his ex. But two months later, he called and texted her 144 times over the span of about three hours. According to the Maui News, he was arrested and spent 157 days in jail. At his sentencing, the man received time served and was placed on two years of probation. He was also ordered to pay $2,400 in fines and do 200 hours of community service. But, that’s not all. The judge also ordered the man to write more than 140 “nice” things about his ex-girlfriend.

In Fredonia, Wisconsin, the latest mom-of-the-year contestant—NOT!—has been arrested after her son was seen riding in a plastic pool on top of her minivan. Officers received a call reporting a child on top of a vehicle holding down a plastic pool, according to the Ozaukee Press. A witness later reported seeing the mom pull over and take the child off the minivan roof and wedge the pool inside the vehicle before dropping it off at her sister’s house, according to WTMJ TV. She allegedly told authorities she had picked up a molded plastic pool at another house, but didn’t have enough room inside the minivan, so she “decided to put the pool on top of the minivan, but had no way to strap it down, so she had her child climb on the roof and hold it down while she drove,” according to a police report. Police said the mom told them she thought her actions were “OK,” since her dad let her do things like that when she was nine. She added that her son was safe on top of the minivan because she tied him down with a strap on top of the pool.

In Winter Park, Florida, a baby Frankenstein was born on Halloween. Oskar Gary Frankenstein made his entrance into the world four days late and after 14 hours of labor at Winter Park Memorial Hospital. Oddly, the parents have a 13-year-old daughter who shares the same birthday as “Frankenstein” author Mary Shelley.


Have a great weekend, everyone!

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Editorial: Alison Cooke Mintzer


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