Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 11th, 2019

Reality Check

When planning for retirement, participants have more to consider than meets the eye. “As much as plan sponsors do to help employees to save for their retirement, they don’t do a whole lot to help them financially transition to retirement, or to help them plan for how to make their nest egg last throughout their retirement,” says Catherine Collinson, with TCRS. Read more >
Editor’s Note
On Monday, PLANSPONSOR.com readers will find a new website experience. We hope you will find it even more engaging and intuitive!
Benefits & Administration
Social Security Administration Announced COLA for 2020
Employees not only need basic education, but they need to know how to include Social Security in their retirement income strategy. Read more >
States Have Made Progress in Partly Mitigating Funding Risk
An S&P Global Ratings report says states’ policy decisions, not market volatility, are likely the greatest future financial risk. Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
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Congressional Leaders Want SECURE Act Passage in 2019
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Social Security Administration Announced COLA for 2020
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Could GE Have Continued Its DB Benefits?
5
Millennium Trust Helps Small Businesses Select a Retirement Plan
Sponsored message from ADP
Are employees relying on employers to solve financial problems?
Employees who are financially stressed and working out of economic necessity can negatively impact workplace productivity. Read more >
Economic Events

In September, the Consumer Price Index for All Urban Consumers (CPI-U) was unchanged, seasonally adjusted (SA); rising 1.7% over the year, not seasonally adjusted (NSA), the Bureau of Labor Statistics revealed. The index for all items less food and energy rose 0.1% in September, SA; up 2.4% over the year, NSA.

Real average hourly earnings were unchanged over the month in September, SA. Both average hourly earnings and CPI-U were essentially unchanged. Real average weekly earnings decreased 0.1% over the month.

In the week ending October 5, the advance figure for seasonally adjusted initial claims for unemployment insurance was 210,000, a decrease of 10,000 from the previous week’s revised level of 220,000, the Labor Department reported. The four-week moving average was 213,750, an increase of 1,000 from the previous week’s revised average of 212,750.

The average interest rate for a 30-year fixed-rate mortgage is 3.57%, down from 3.65% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.05%, down from 3.14%.

Market Mirror

Thursday, the Dow gained 150.66 points (0.57%) to finish at 26,496.67, the NASDAQ closed 47.04 points (0.60%) higher at 7,950.78, and the S&P 500 increased 18.73 points (0.64%) to 2,938.13. The Russell 2000 was up 5.90 points (0.40%) at 1,485.36, and the Wilshire 5000 climbed 169.39 points (0.57%) to 29,924.45.

The price of the 10-year Treasury note decreased 29/32, bringing its yield up to 1.667%. The price of the 30-year Treasury bond fell 1 6/32, increasing its yield to 2.159%.

Products, Deals and People
Investment Product and Service Launches
Mesirow Financial presents third mutual fund and managed account program; BPAS partners with Lincoln Financial on stable value solution for VEBAs; and MSCI builds indexes to track long-term megatrends. Read more >
Principal Offers Patent-Pending Complete Pension Solution
It provides a technology-driven approach to pension risk management that can be tailored for individual plan needs alongside what the company says is a first-of-its-kind annuity quote commitment. Read more >
WEX Health to Host HSA Education Event
The live-streamed panel discussion will take an in-depth look at the uses, benefits and tax advantages of health savings accounts (HSAs), as well as their use as a long-term retirement plan and safety net. 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 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 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 1983, the last hand-cranked telephones in the U.S. went out of service. The 440 telephone customers of Bryant Pond, Maine, were switched to direct-dial service. In 1984, American Kathryn D. Sullivan became the first female astronaut to space walk. She was aboard the space shuttle Challenger. In 1994, the Colorado Supreme Court declared that the anti-gay rights measure in the state was unconstitutional.

And now it’s time for FRIDAY FILES!

Near Portland, Oregon, a UPS driver responds to a parrot’s call for help. Read more >
In Pittsburgh, Pennsylvania, a woman smelled something burning while driving her car. She popped the hood and discovered squirrels had been storing their food for winter―which they’d taken from a walnut tree in her yard―around the engine. The animals had also brought in grass. The woman and her husband pulled out most of the stash themselves. But, mechanics at a local garage removed even more―enough to half-fill a trash can―from areas they couldn’t reach, reported CBS Pittsburgh. [pic] Read more >

In Jacksonville, Florida, a woman stopped to get gas before work. While at the pump, a deer leaped over her and hit her in the head with its hoof. The woman said she thought she was being robbed. She is doing fine.

In Spain, a police vessel began pursuing a speedboat “with four people on board that was suspected of transporting drugs” in waters off the southern coast of Spain, a police statement said. During the chase, the two vessels collided, causing three police officers to fall into the sea as their boat “span out of control.” According to the AFP, the officers were pulled to safety—by the drug-smugglers they were chasing. Despite the assist, when police found three ton of hashish in the water nearby, the rescuers were arrested for drug trafficking.

In Moscow, Russia, a man has filed a lawsuit against Apple for moral harm claiming that an iPhone app had turned him gay, according to a copy of the complaint seen by AFP. The man filed suit asking for one million rubles ($15,000) after an incident this summer in which a cryptocurrency called “GayCoin” was delivered via a smartphone app, rather than the Bitcoin he had ordered. The GayCoin cryptocurrency arrived with a note saying, “Don’t judge until you try,” according to the complaint. “I thought, in truth, how can I judge something without trying?” the man said in the lawsuit. “Now I have a boyfriend and I do not know how to explain this to my parents” he added, alleging that Apple pushed him towards homosexuality through manipulation.

In Japan, scientists found that painting zebra-like stripes on cows significantly reduced attacks by biting flies, providing a means of defending livestock against flies without pesticides. The study’s inspiration came from past experiments that suggested the striped coats of zebras―and black and white surfaces in general―attracted fewer flies than the solid black color of the Japanese bovines that were studied. The Huffington Post reported that the researchers found the zebra-painted cattle were bitten nearly 50% less than solid-black animals. Flies are less likely to land on black and white surfaces due to the polarization of light, which impairs their perception, according to the study published in the journal PLoS One.

The terms “fake news,” “slam-dunk” and “promposal” have made it into the Oxford English Dictionary; however, it notes that “fake news,” although popularized by President Donald Trump, actually dates back to 1890.

Wishing everyone a happy weekend!

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

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