Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 8th, 2018
Benefits & Administration
401(k) Reaches the Big 40
At an event marking the milestone for the 401(k), attendees were very optimistic about the future opportunities for the plan and surrounding industry. Read more >
Market Selloff Pushes Down DB Plan Funding in October
Defined benefit (DB) plan funding slipped as much as 2% in October, but entities that monitor DB plan funded status noted that the decline could have been worse had interest rates not increased and pushed down plans’ liabilities. Read more >
Young Savers Most Likely to Meet Retirement Goals
Young savers, those between the ages of 25 and 34, are the generation most likely to be on track to meet their retirement goals, according to a new report from Ascensus. However, even for this group, the percentage on track to meet their goals is a mere 30%. For those in the 35 to 44 age group, it is 29%; for those 45 to 54, it is 38%; and for those 55 to 64, it is 18%. Ascensus also noted that plans with automatic enrollment have an average participation rate of 84%—14 percentage points higher than plans without this feature, and employers are pairing health savings accounts (HSAs) with high-deductible health plans and enabling payroll direct deposit. Read more >
Products, Deals and People
Victory Capital Acquires Military-Focused Investment Firm
With the acquisition, Victory Capital is planning on developing a nationwide financial literacy platform designed to support the military community, USAA members and their families. Read more >
MOST READ ARTICLES
1
IRS Announces 2019 HSA Contribution Limits
2
IRS Proposes Amendments to Hardship Withdrawal Regulations
3
Retirement Industry People Moves
4
Crash Course on Social Security From AARP
5
Analysis Shows Impact of Financial Wellness Programs on Retirement Readiness
Market Mirror

On Wednesday, the Dow jumped 545.29 points (2.13%) to 26,180.30, the NASDAQ increased 194.79 points (2.64%) to 7,570.75, and the S&P 500 gained 58.44 points (2.12%) to finish at 2,813.89. The Russell 2000 was up 26.06 points (1.67%) at 1,582.16, and the Wilshire 5000 climbed 584.45 points (2.05%) to 29,051.70.

 

The price of the 10-year Treasury note was down 3/32, increasing its yield to 3.226%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 3.441%.

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From the Magazine
Fiduciary Training
Has your committee received fiduciary training? Hopefully the answer is yes. While there is no fiduciary training requirement under the Employee Retirement Income Security Act (ERISA), this is a question the Department of Labor (DOL) asks during its investigations. Read more >
Investing
Institutional Assets Earned Median Gain of 2.63% in the Third Quarter
For the year ended September 30, they are up 6.90%, according to the Wilshire Trust Universe Comparison Service. Read more >
Small Talk

ON THIS DATE: In 1793, the Louvre Museum, in Paris, opened to the public for the first time. In 1805, the “Corps of Discovery” reached the Pacific Ocean. The expedition was led by William Clark and Meriwether Lewis. The journey had begun on May 14, 1804, with the goal of exploring the Louisiana Purchase territory. In 1889, Montana became the 41st U.S. state. In 1933, the Civil Works Administration was created by executive order by President Franklin D. Roosevelt. The organization was designed to create jobs for more than 4 million unemployed people in the U.S. In 1954, the American League approved the transfer of the Philadelphia Athletics baseball team to Kansas City, Missouri. In 1959, Elgin Baylor (Minneapolis Lakers) scored 64 points and set a National Basketball Association scoring record. In 1965, the soap opera “Days of Our Lives” debuted on NBC-TV. In 1966, Edward W. Brooke of Massachusetts became the first African-American elected to the U.S. Senate by popular vote. In 1966, Ronald Reagan was elected governor of California. In 2000, in Florida, a statewide recount began to decide the winner of the 2000 U.S. presidential election.

 

 

SURVEY SAYS: Sorry, not this week.

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

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

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