Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 11th, 2018
Benefits & Administration
Following Retirement Plan Rules When a Part-Time Employee Is Hired Full-Time
When an employer decides to hire full-time that part-time or seasonal employee, he is not treated as a new hire in every way. As far as enrollment materials and disclosures for retirement plans, the employee should receive the same materials as any new hire, but when it comes to calculating eligibility and vesting, hopefully the employer has kept records of past service. Plan document provisions and the law are critical to determining retirement plan eligibility and vesting. Read more >
Money Personalities Can Inform Financial Wellness Program Decisions
Asked about their attitude towards money, 51% of Americans, the largest percentage, say they are savers, according to PwC’s 2018 Financial Wellness Survey. PwC has identified findings about money personalities and behaviors that can influence how employers tailor their approach to financial wellness programs. Read more >
Corporate Pension Funding Ratios Greater Than 90% After September
Some firms that track pension funded status point out that plan sponsors should prepare for changes in the future as a market correction is expected and funding relief fades and higher plan sponsor contributions will be required. Read more >
Americans, Even Those Already Retired, Could Do More to Secure Their Financial Future
Debt affects many retired Americans and fear of the stock market is affecting those not yet retired, a survey finds. Read more >
MOST READ ARTICLES
1
Adidas Sued Over Excessive Fees for 401(k) Participants
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(b)lines Ask the Experts – Proper Delivery Method for SPDs
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Yale Sued Over Wellness Program ‘Penalty’
4
Employees in Two States Miss Out on One HSA Benefit
5
Some Help for Women’s Retirement Savings Gap May Be Coming
Webinar Event
Join us October 17 for a webinar during which you’ll gain firsthand knowledge of 401(k) participant sentiments from Schwab Retirement Plan Services, Inc. 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 $511.1 billion, up 0.8% from the revised July level and up 9.2% from the August 2017 level, the Census Bureau reported. The June to July percent change was revised from the preliminary estimate of virtually unchanged to up 0.2%.

 

The Producer Price Index for final demand increased 0.2% in September, as prices for final demand services rose 0.3%, and the index for final demand goods decreased 0.1%, according to the Bureau of Labor Statistics. The final demand index advanced 2.6% for the 12 months ended in September.

Sponsored message from Voya
Voya Research on Enrollment Default Savings Rates in Retirement Plans
Study uncovers opportunity to push enrollment default savings rate much higher in retirement plans. Read more >
Market Mirror

Wednesday, the Dow plunged 831.83 points (3.15%) to 25,598.74, the NASDAQ dove 315.97 points (4.08%) to 7,422.05, and the S&P 500 fell 94.66 points (3.29%) to 2,785.68. The Russell 2000 lost 46.45 points (2.86%) to finish at 1,575.41, and the Wilshire 5000 plummeted 967.43 points (3.25%) to 28,767.48.

 

The price of the 10-year Treasury note was up 4/32, decreasing its yield to 3.192%. The price of the 30-year Treasury bond was down 4/32, increasing its yield to 3.375%.

Products, Deals and People
MassMutual Revamps Small Business Retirement Platform
In an effort to ensure affordability and practicality for small business retirement plans, MassMutual has enhanced its Aviator 401(k) platform. Small businesses can now choose two “Aviator” programs, dependent upon the level of administrative and fiduciary support preferred. The revitalized programs now offer simplified investment lineups, affordable pricing and fiduciary support services. Read more >
Small Talk

ON THIS DATE: In 1776, during the American Revolution the first naval battle of Lake Champlain was fought. The forces under Gen. Benedict Arnold suffered heavy losses. In 1811, the Juliana, the first steam-powered ferryboat, was put into operation by the inventor John Stevens. The ferry went between New York City and Hoboken, New Jersey. In 1869, Thomas Edison filed for a patent on his first invention. The electric machine was used for counting votes for Congress, however Congress did not buy it. In 1881, David Henderson Houston patented the first roll film for cameras. In 1890, the Daughters of the American Revolution was founded in Washington, D.C. In 1929, J.C. Penney opened a store in Milford, Delaware, making it a nationwide company with stores in all 48 states. In 1939, President Franklin Roosevelt was presented with a letter from Albert Einstein that urged him to develop the U.S. atomic program rapidly. In 1968, Apollo 7 was launched by the U.S. The first manned Apollo mission was the first in which live television broadcasts were received from orbit. Wally Schirra, Don Fulton Eisele and R. Walter Cunningham were the astronauts aboard. In 1975, “Saturday Night Live” was broadcast for the first time. George Carlin was the guest host. In 1984, American Kathryn D. Sullivan became the first female astronaut to space walk. She was aboard the space shuttle Challenger.

SURVEY SAYS: We covered a survey in which the majority of respondents said they like listening to music at work and it makes them more productive. This week, I’d like to know, do you listen to music and work and how do you think it affects your productivity? 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

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

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