Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 10th, 2019

Unwrapping Compliance on Gift-Giving and Donations

Whether it’s World Series tickets or a luncheon, are these gifts compliant with government and company rules concerning retirement plan sponsors and providers? Read more >
Benefits & Administration
Survey Reveals Emerging Health Benefit Cost-Saving Measures
Employers are encouraging the use of biosimilars instead of specialty pharmacy products, creating an environment that makes it clear and easy for employees to opt for high-value services, and engaging effective programs to help manage anxiety and stress. Read more >
Increase in Interest Rates Gives DB Plans a Boost in September
Jessica Hart, with Northern Trust Asset Management, notes, “Even though the Fed cut rates by 25 bps, the average liability discount rate climbed by 13 bps. This highlights the reality that for pension plans, movement at the long end of the yield curve is more impactful than the headline Fed rate.” Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
2
Congressional Leaders Want SECURE Act Passage in 2019
3
Social Security Administration Announced COLA for 2020
4
Could GE Have Continued Its DB Benefits?
5
Millennium Trust Helps Small Businesses Select a Retirement Plan
Sponsored message from Ayco
Survey of Executive Benefits in Corporate America–Download a copy
Access Ayco’s survey of executive benefits offered at 260+ companies. Read more >
Economic Events

August sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $499.1 billion, virtually unchanged from the revised July level, but down 0.7% from the August 2018 level, the Census Bureau reported. The June to July percent change was revised from the preliminary estimate of up 0.3% to up 0.2%.

Market Mirror

Wednesday, the Dow gained 181.97 points (0.70%) to finish at 26,346.01, the NASDAQ closed 79.96 points (1.02%) higher at 7,903.74, and the S&P 500 increased 26.34 points (0.91%) to 2,919.40. The Russell 2000 was up 6.86 points (0.47%) at 1,479.46, and the Wilshire 5000 climbed 250.09 points (0.85%) to 29,754.98.

 

The price of the 10-year Treasury note was down 5/32, increasing its yield to 1.582%. The price of the 30-year Treasury bond fell 1 1/32, bringing its yield up to 2.084%.

Compliance
Morgan Stanley Prevails in ERISA Lawsuit
In dismissing the case a federal judge said, “ERISA does not require clairvoyance on the part of plan fiduciaries” and that the plaintiffs “come nowhere close to alleging such a case.” Read more >
Criticism of DOL E-Delivery Proposal Misses the Mark, Experts Say
“We think there will be cost savings from e-delivery and that these cost savings will be passed on to individual consumers,” says Chris Spence of TIAA. “There is also an engagement factor to consider.” Read more >
Small Talk

ON THIS DATE: In 1845, the United States Naval Academy opened in Annapolis, Maryland. In 1887, Thomas Edison organized the Edison Phonograph Company. In 1913, President Woodrow Wilson triggered the explosion of the Gamboa Dike that ended the construction of the Panama Canal. In 1959, Pan American World Airways announced the beginning of the first global airline service. In 1973, Vice President Spiro Agnew resigned. The same day, he pleaded no contest to a charge of federal income tax evasion in exchange for the dropping of charges of political corruption. In 1977, Joe Namath played the last game of his National Football League (NFL) career. In 1978, legislation authorizing the Susan B. Anthony dollar was signed by President Jimmy Carter. In 2001, President George W. Bush presented a list of 22 most wanted terrorists. In 2004, the actor Christopher Reeve, who became famous for his starring role in four Superman films, died from heart failure at the age of 52 at a hospital near his home in Westchester County, New York.

SURVEY SAYS: A recent survey found children today are getting large allowances, and parents are trying to teach money skills, yet most children are not saving. This week, I’d like to know, did you get an allowance as a child, and in coordination with that, did your parents teach you how to manage your money? Also, did you regularly save any of your allowance? You may respond to this week’s survey by 6 p.m. Pacific time today. Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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