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| Investing | |
| BMO Finds Demographic Differences in Investing Preferences | |
| Respondents across all three generations cite saving and investing for retirement as their primary financial goal; however, Millennials are less inclined to buy and hold for the long term.Read more > | |
| Market Mirror | |
Yesterday, the Dow was up 9.23 points (0.04%) at 23,548.42, the NASDAQ climbed 22.00 points (0.33%) to 6,786.44, and the S&P 500 closed 3.29 points (0.13%) higher at 2,591.13. The Russell 2000 gained 3.05 points (0.20%) to finish at 1,497.96, and the Wilshire 5000 increased 25.45 points (0.09%) to 26,900.45. The price of the 10-year Treasury note was up 5/32, decreasing its yield to 2.317%. The price of the 30-year Treasury bond increased 12/32, bringing its yield down to 2.797%. | |
| Sponsored message from Vanguard | |
| Target-Date Funds: Built to Weather Volatility Uncertainty is often the cause of knee-jerk reactions by investors. Many DC plan sponsors select target-date funds (TDFs) as their plan’s qualified default investment alternative to curb emotional investing.Read more > | |
| Compliance | |
| Second Lawsuit Filed Against GE for Self-Dealing in 401(k) | |
| The lawsuit accuses General Electric 401(k) plan fiduciaries of violating the Employee Retirement Income Security Act (ERISA) by offering and failing to monitor funds in the plan that were managed by the company’s investment management arm.Read more > | |
| IRS Memo Includes Guidance Regarding RMDs and Missing Participants | |
| The memo lists actions plan sponsors should take to locate missing participants to prevent being challenged on violating required minimum distribution (RMD) rules.Read more > | |
| Northrop Grumman Excessive Fee Case Moves Forward | |
| A federal judge has certified class action status for a lawsuit alleging that Northrop Grumman engaged in self-dealing and failed to secure reasonable service fees for its 401(k) plan. Noteworthy about the case is that a challenge to fees provided to the recordkeeper via an arrangement with Financial Engines is filed against the plan sponsor and not the recordkeeper as in other suits that have been dismissed.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1874, the Republican party of the U.S. was first symbolized as an elephant in a cartoon by Thomas Nast in Harper’s Weekly. In 1893, the state of Colorado granted women the right to vote. In 1916, Jeanette Rankin of Montana became the first woman elected to the U.S. Congress. In 1929, The Museum of Modern Art in New York City opened to the public. In 1944, U.S. President Franklin D. Roosevelt became the first person to win a fourth term as president. In 1963, Elston Howard, of the New York Yankees, became the first black player to be named the American League’s Most Valuable Player. In 1965, the “Pillsbury Dough Boy” debuted in television commercials. In 1967, Carl Stokes was elected mayor of Cleveland, Ohio, becoming the first black mayor of a major city. In 1967, U.S. President Lyndon B. Johnson signed a bill establishing the Corporation for Public Broadcasting. In 1989, L. Douglas Wilder won the governor’s race in Virginia, becoming the first elected African-American state governor in U.S. history. In 1999, Tiger Woods became the first golfer since Ben Hogan in 1953 to win four straight tournaments. | |
| TRIVIAL PURSUITS: What was Noah Webster’s best-selling book during his lifetime?Read more > | |
| 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 > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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