Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 30th, 2018
Benefits & Administration
Most Employers Don’t Consider Their Financial Wellness Programs ‘Holistic’
Approaches to financial wellness programs vary widely, according to a survey by the Employee Benefit Research Institute (EBRI), ranging from third-party emergency assistance programs to one-on-one sessions. However, few are currently considered “holistic” programs. Instead, the majority of employers characterized these programs as pilot programs (38%) or periodic or ad hoc programs (32%). Employers noted that they face many challenges in offering financial wellness initiatives. Read more >
2019 Planning for DB Plan Sponsors
Willis Towers Watson (WTW) has outlined 10 action items for defined benefit (DB) plan sponsors to consider when planning for the next year and beyond. The suggestions include ideas for potential portfolio construction changes, additional considerations for risk transfer transactions, reasons for maintaining a DB plan, and more. Read more >
MOST READ ARTICLES
1
IRS Announces 2019 HSA Contribution Limits
2
4% Rule Not a Reliable Retirement Income Withdrawal Strategy for All People
3
Lawsuit Argues MetLife Pension Calculations Use Outdated Mortality Table
4
Financially Well Employees Buoy the Bottom Line
5
401(k) Plan Sponsors Enhancing Plan Design
Products, Deals and People
Account Lock Feature Launched by Milliman
Milliman announced a new security feature on its Millimanbenefits.com participant portal, designed to allow account holders to put a stop on withdrawals and loan transactions. According to the firm, the new Account Lock feature allows participants to secure their accounts to prevent any distributions or loans from being initiated while it is locked. The firm says this tool gives participants an added layer of defense against external security threats. Read more >
Investment Product and Service Launches
Touchstone Creates Additional Equity Funds; AAM Builds Third High Dividend Value ETF; and HB&T to Build ESG-Centered Collective Investment Fund. Read more >
Wells Fargo Launches Retirement Income Planning Center
Wells Fargo Institutional Retirement and Trust has unveiled a new Retirement Income Planning Center, described as an online resource to help participants solve the “decumulation challenge.” It provides resources to help create a retirement budget and income plan. Read more >
Sponsored message from J.P. Morgan
Paying 0% for J.P. Morgan recordkeeping is possible. Help lower your retirement plan fees by combining J.P. Morgan’s QDIA funds with J.P. Morgan Retirement Link to deliver stronger retirement plans at lower costs. Read more >
Economic Events

In the week ending November 24, the advance figure for seasonally adjusted initial claims for unemployment insurance was 234,000, an increase of 10,000 from the previous week’s unrevised level of 224,000, the Labor Department reported. The four-week moving average was 223,250, an increase of 4,750 from the previous week’s unrevised average of 218,500.

The average interest rate for a 30-year fixed-rate mortgage is 4.81%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 4.25%, up from 4.24%.

Market Mirror

Thursday, the Dow was down 27.59 points (0.11%) at 25,338.84, the NASDAQ lost 18.51 points (0.25%) to finish at 7,273.08, and the S&P 500 closed 5.99 points (0.22%) lower at 2,737.80. The Russell 2000 fell 5.00 points (0.33%) to 1,525.39, and the Wilshire 5000 decreased 58.82 points (0.21%) to 28,234.28.

The price of the 10-year Treasury note was up 8/32, decreasing its yield to 3.028%. The price of the 30-year Treasury bond increased 15/32, bringing its yield down to 3.322%.

From the Magazine
The Complete Picture
Employees who have access to an employer retirement plan often have been adding to their overall nest egg, elsewhere, too, according to recent research. Depending on past work history, employees may have one or more employer-sponsored plan accounts—e.g., a previous defined contribution (DC) plan or defined benefit (DB) plan, or a nonqualified executive benefit plan—or have savings in an individual retirement account (IRA). For instance (see chart), results of the 2018 PLANSPONSOR Participant Survey indicate that 24% of workers over 40 years old have prior employer plans with assets greater than $50,000; 23% have over $50,000 in IRAs. This may come as a surprise to sponsors. Read more >
Small Talk

ON THIS DATE: In 1782, the United States and Britain signed preliminary peace articles in Paris, ending the Revolutionary War. In 1858, John Landis Mason received a patent for the first pepper shaker with a screw-on cap. In 1897, Thomas Edison’s own motion picture projector had its first commercial exhibition. In 1981, the U.S. and the Soviet Union opened negotiations in Geneva that were aimed at reducing nuclear weapons in Europe. In 1988, Kohlberg Kravis Roberts and Co. took over RJR Nabisco Inc. with a bid of $24.53 billion. In 1993, President Bill Clinton signed into law the Brady Bill. The bill required a five-day waiting period for handgun purchases and background checks of prospective buyers. In 1995, President Bill Clinton became the first U.S. chief executive to visit Northern Ireland. In 1998, the Deutsche Bank AG announced that it would acquire Bankers Trust Corp. for $10.1 billion creating the world’s largest financial institution.

 

And now it’s time for FRIDAY FILES!

This cat is really possessive over its “mouse.” Read more >
In Truckee, California, Yogi reported for work in a highway patrol facility. Read more >
Near Lake Preston, in Australia, a Holstein-Friesian steer stands head and shoulders above its counterparts. Knickers, a 7-year-old steer, is a whopping 6 feet, 4 inches tall. That makes him about 1.5 feet taller than other steers, and he weighs twice as much, according to USA Today. [pic] Read more >

In Goldsboro, North Carolina, a woman who was given the wrong lottery game ticket is celebrating that mistake. The N.C. Education Lottery said in a news release that the woman wanted to buy the Carolina Panthers lottery game ticket, but the store clerk gave her a “777” ticket instead. The woman said she normally would have asked the clerk to give her what she asked for, but she decided instead to keep it. When she began scratching off the card in her car, she thought she had only won $7, but she kept scratching, and when she was done, she had won $277,777.

In Guntersville, Alabama, the sheriff’s department mistakenly ordered 24,000 extra rolls of toilet paper. WAFF-TV reports the Marshall County Sheriff’s Office mistakenly spent $22,000 on toilet paper and another $9,000 for 450 cases of trash bags. But, its entire budget for janitorial supplies for next year is only $15,000. County commissioners have negotiated a bill of more than $30,000 down by about half, but there’s another problem: Storing an extra two years’ worth of toilet paper.

Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy. Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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