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| Women Are Better 401(k) Savers than Men | |
| Vanguard examined women’s and men’s 401(k) savings behavior and found that women are better savers, but trail men in outcomes. Women are 14% more likely than men to participate in their workplace savings plan and save at higher rates; women earning less than $100,000 save 20% more than their male counterparts, and across all income levels, women save at rates that are 7% to 16% higher than men’s.Read more > | |
| The aggregate funded ratio for U.S. corporate pension plans increased by 3.2% to 84.1% for October, according to Wilshire Consulting. The rise in funding was the result of an increase in asset value and no change in liability value.Read more > | |
| Funding levels of S&P 500 pensions reversed course after three straight months of declines. The estimated aggregate funding level of S&P 500 pensions increased by 4%, to reach 83% of liabilities by the end of October, according to Mercer’s monthly corporate pension funded status index.Read more > | |
| PLANSPONSOR Awards | |
| Last Day for Plan Sponsor of the Year Nominations! | |
| Today is the last day to make 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.Read more > | |
| Economic Events | |
| New orders for manufactured goods in September, down two consecutive months, decreased $4.7 billion or 1.0% to $466.3 billion, the U.S. Census Bureau reported. This followed a 2.1% August decrease. Shipments, down five of the last six months, decreased $1.8 billion or 0.4% to $477.3 billion. Unfilled orders, down two consecutive months, decreased $6.2 billion or 0.5% to $1,187.9 billion. Inventories, down three consecutive months, decreased $2.4 billion or 0.4% to $645.1 billion. | |
| Market Mirror | |
Stock indexes are closing higher, led by big gains in energy companies as the price of oil rose, according to the Associated Press. The Dow climbed 89.29 points (0.50%) to 17,918.15, the NASDAQ closed 17.98 points (0.35%) higher at 5,145.13, and the S&P 500 was up 5.74 points (0.27%) at 2,109.79. The Russell 2000 gained 5.48 points (0.46%) to finish at 1,191.57, and the Wilshire 5000 increased 63.47 points (0.29%) to 21,961.26.
On the NYSE, 3.2 billion shares traded, with 1.4 advancing issues for every declining issue. On the NASDAQ, 2.6 billion shares changed hands with a 1.5 to 1 ratio of advancers to decliners.
The price of the 10-year Treasury note decreased 12/32, bringing its yield up to 2.214%. The price of the 30-year Treasury bond fell 32/32, increasing its yield to 2.996%. | |
| Compliance | |
| ESOP Participants’ Breach Claim Not Supported | |
| Participants in an employee stock ownership plan (ESOP) that purchased shares with a loan from the sponsoring employer made allegations that were not backed by evidence, a court found. A federal judge in Illinois rejected claims that GreatBanc trust breached its fiduciary duty under the Employee Retirement Income Security Act (ERISA) by arranging for the ESOP to purchase Personal-Touch shares above value, financed with an unreasonable loan rate.Read more > | |
| Ask the Experts | |
| How Long Will Limits Remain Unchanged? | |
| “I was disappointed that almost all the Internal Revenue Service (IRS) benefits and contribution limits did not increase for 2016. Is it possible that the limits will remain flat in 2017 as well?”Read more > | |
| Small Talk | |
| Human resources services provider TriNet found traditional performance reviews have a negative impact on working Millennials. Sixty-two percent of Millennials have felt “blindsided” by a performance review, and 74% frequently feel “in the dark” about how their managers and peers think they’re performing at work. Nearly one in four (22%) have called in sick because they were anxious about receiving their review.Read more > | |
| ON THIS DATE: In 1846, a patent for an artificial leg was granted to Benjamin Palmer. In 1847, Scottish obstetrician James Young Simpson discovered the anethestic qualities of chloroform. In 1880, James and John Ritty patented the first cash register. In 1922, in Egypt, Howard Carter discovered the entry of the lost tomb of Pharaoh Tutankhamen. In 1924, Nellie T. Ross of Wyoming was elected America’s first woman governor so she could serve out the remaining term of her late husband, William B. Ross. In 1939, at the 40th National Automobile Show the first air-conditioned car was put on display. In 1952, in the U.S., the National Security Agency (NSA) was established. In 1991, Ronald Reagan opened his presidential library in Simi Valley, California. | |
| WEDNESDAY WISDOM: “It is better to learn late than never.” —Publilius Syrus, Latin writer | |
| 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 > | |
News from PLANSPONSOR.com
Copyright © Asset International, Inc., 2015. All rights reserved. No reproduction without prior authorization. |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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