| Products, Deals and People | ICMA-RC has enhanced Account Access, the account-management website for plan participants, and EZLink, its plan administration website for plan sponsors, by adding an intuitive, visually appealing layout and streamlined navigation. In addition to the new look and redesigned navigation features, the Account Access website has a new retirement readiness tool which is featured as participants log-in, called “Am I On Track.”Read more > | | Market Mirror | Tuesday, the Dow gained 72.83 points (0.40%) to finish at 18,332.43, the NASDAQ closed 27.32 points (0.53%) higher at 5,193.49, and the S&P 500 increased 8.01 points (0.38%) to 2,139.53. The Russell 2000 was up 2.89 points (0.24%) at 1,195.14, and the Wilshire 5000 climbed 73.48 points (0.33%) to 22,133.57.
On the NYSE, 3.1 billion shares traded, with 1.3 advancing issues for every declining issue. On the NASDAQ, 2.9 billion shares changed hands, with a slight lead for advancers.
The price of the 10-year Treasury note was down 8/32, increasing its yield to 1.858%. The price of the 30-year Treasury bond decreased 10/32, bringing its yield up to 2.618%. | | Sponsored message from ADP | Winning With Wellness Learn more about financial wellness programs for employees, the new frontier in employee benefits.Read more > | | Compliance | FASB Proposes New Reporting Standards for Pensions | The proposal would require reporting the service cost component of retirement benefit costs separately from other components.Read more > | Restaurant Chain Charged With Age Discrimination | Bayou City Wings’ upper management instructed other managers not to recruit and hire older job seekers and disciplined and terminated a manager who refused to comply, according to an Equal Employment Opportunity Commission (EEOC) lawsuit.Read more > | | Investing | The third quarter of 2016 marked the fourth consecutive quarterly gain for plan sponsors, with institutional asset owners gaining approximately 3.6% at the median, according to the Northern Trust Universe. “The median return of the three plan types varied slightly, but the way each achieved its strong positive return was distinctive,” says Amy Garrigues, head of Investment Risk and Analytical Services in North America. “Foundations & Endowments had the smallest allocation to the weakest returning asset, fixed income, while Public Funds had the largest allocation to the best returning asset class, international equities. Corporate ERISA plans benefited from a larger exposure to non-core fixed income.”Read more > | Institutional Investors Innovate ESG Usage | A new report, “Tipping Points 2016,” published by the Investor Responsibility Research Center Institute (IRRCI), finds that environmental, social and governance (ESG) investing principals are being implemented by institutional investors in a rich variety of ways, with an increasing emphasis on the “social” and “governance” portion of ESG. The study indicates that investors are “intentionally attempting to influence systems-level risk factors previously ignored as beyond the impact-ability of institutional investors,” going far beyond simply reducing carbon output.Read more > | | Small Talk | An Investopedia article reports that the financial difficulties former President Harry Truman faced prompted the passage of the Former President’s Act in 1958, which provided a pension and other benefits to ex-presidents. Last year, the federal government spent a total of $3.25 million on the four former presidents still living. But, do former presidents still need this help?Read more > | ON THIS DATE: In 1906, U.S. President Theodore Roosevelt left for Panama to see the progress on the new canal. It was the first foreign trip by a U.S. president. In 1911, George Claude of Paris, France, applied for a patent on neon advertising signs. In 1935, United Mine Workers president John L. Lewis and other labor leaders formed the Committee for Industrial Organization. In 1965, the great Northeast blackout occurred as several states and parts of Canada were hit by a series of power failures lasting up to 13 1/2 hours. In 1976, the U.N. General Assembly approved ten resolutions condemning the apartheid government in South Africa. In 1984, a bronze statue titled “Three Servicemen,” by Frederick Hart, was unveiled at the site of the Vietnam Veterans Memorial in Washington, D.C. In 1989, Communist East Germany opened its borders, allowing its citizens to travel freely to West Germany. In 2004, U.S. First Lady Laura Bush officially reopened Pennsylvania Avenue in front of the White House to pedestrians.
WEDNESDAY WISDOM: “Don’t watch the clock; do what it does. Keep going.”—Sam Levenson, author and television host | Share the good 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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