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| Market Mirror | |
Wednesday, the Dow was up 235.57 points (1.47%) at 16,284.70, the NASDAQ climbed 102.84 points (2.28%) to reach 4,620.16, and the S&P 500 increased 35.92 points (1.91%) to close at 1,920.01. The Russell 2000 rose 16.78 points (1.55%) to finish at 1,100.68, and the Wilshire 5000 closed 382.03 points (1.94%) higher at 20,119.28.
On the NYSE, 3.2 billion shares changed hands, with a nearly 3 to 1 lead for advancers. On the NASDAQ, 2.8 billion shares traded, with 2.6 advancing issues for every declining issue.
The price of the 10-year Treasury note was up 3/32, decreasing its yield to 2.044%. The price of the 30-year Treasury bond fell 3/32, bringing its yield up to 2.859%. | |
| Compliance | |
| GAO Addresses State-Run Plans | |
| A new report from the Government Accountability Office (GAO) analyzed data from the 2012 Survey of Income and Program Participation (SIPP). The report, “Retirement Security: Federal Action Could Help State Efforts to Expand Private Sector Coverage,” discusses stakeholders’ concerns about—and potential solutions for—the millions of Americans who are currently not enrolled in a retirement savings program. It found that actual, W–2-adjusted participation rates are higher than self-reported levels—54.1% vs. 45.2% of private-sector workers—but that still leaves roughly half not participating in a retirement plan.Read more > | |
| Investing | |
| Finding the Right Default | |
| Our sister brand, PLANADVISER, held its national conference this week in Orlando, Florida. As part of one panel, a group of experts discussed the evolution of qualified default investment alternatives (QDIAs) and considerations for plan sponsors when making the decision between managed accounts, target-date funds (TDFs) and balanced funds. “Many employers recognize that their employees don’t have retirement plans in place,” said Jason Johnson, senior vice president of wealth management, UBS Financial Services. Read more > | |
| In-Plan Lifetime Income | |
| Most participants are interested in in-plan lifetime income options, but just one in five plan sponsors say the same. “Today we are clearly seeing a demographic shift, and so many people are looking for guidance on how to spend money in retirement, participants especially,” said Jan Gundersen, managing director for product management at TIAA-CREF. “For this to really take off we will need more plan sponsor interest, and that will only come when solutions become easier to understand, and they must fit with plan sponsor’s fiduciary role.”Read more > | |
| Small Talk | |
| ON THIS DATE: In 1800, Spain ceded the territory of Louisiana back to France. Later
the property would be purchased by the U.S. effectively doubling its
size. In 1903, the first modern
World Series took place between the Boston Pilgrims and the Pittsburgh
Pirates. In 1933, Babe Ruth
made his final pitching appearance. He pitched all nine innings and hit a home
run in the fifth. In 1940, the
Pennsylvania Turnpike opened as the first toll superhighway in the United
States. In 1946, the first
baseball play-off game for a league championship was played. The St. Louis
Cardinals defeated the Brooklyn Dodgers, 4–2. In 1961, New York Yankee Roger Maris hit his 61st home run of the
season to beat Babe Ruth’s major league record of 60. In 1962, Johnny Carson began hosting the
“Tonight” show on NBC-TV. He stayed with the show for 29 years. In 1964, the Free Speech Movement was
started at the University of California, Berkeley. In 1982, the EPCOT (Experimental Prototype Community of Tomorrow)
Center opened in Florida. The concept was planned by Walt Disney. | |
| 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 > | |
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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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