| Excited About Living Longer, Worried About Retirement Expenses | Despite optimism about a longer life span and the opportunities that may bring, most respondents to a TD Ameritrade survey are not confident they are preparing for retirement correctly.Read more > | | ‘Red Zone’ Multiemployer Pension Plans May Never Recover | The subset of “red zone” multiemployer pension plans that are in critical and declining (C&D) status projected to be insolvent within the next 20 years may never recover without Congressional help, Segal Consulting maintains. There has been a double-digit decrease in the average market value funded percentage of plans in C&D status since 2010, compared to a double-digit increase for non-C&D plans.Read more > | | Sponsored message from J.P. Morgan | Help your employees understand their Social Security benefits. Invite your employees to a live event with J.P. Morgan’s Sharon Carson, Retirement Strategist, and Tana Seward, Relationship Manager, to help understand the top things they should know about their Social Security benefits.Read more > | | Economic Events | In September, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% seasonally adjusted (SA); rising 2.3% over the last 12 months, not seasonally adjusted (NSA), the Bureau of Labor Statistics announced. The index for all items less food and energy rose 0.1% in September, SA; up 2.2% over the year, NSA. Real average hourly earnings increased 0.3% over the month in September, SA. Average hourly earnings increased 0.3%, and CPI-U increased 0.1%. Real average weekly earnings increased 0.2% over the month. In the week ending October 6, the advance figure for seasonally adjusted initial claims for unemployment insurance was 214,000, an increase of 7,000 from the previous week’s unrevised level of 207,000, the Labor Department reported. The four-week moving average was 209,500, an increase of 2,500 from the previous week’s unrevised average of 207,000. The average interest rate for a 30-year fixed-rate mortgage is 4.9%, up from 4.71% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 4.29%, up from 4.15%. | | Market Mirror | Thursday, the Dow lost 545.91 points (2.13%) to finish at 25,052.83, the NASDAQ closed 92.99 points (1.25%) lower at 7,329.06, and the S&P 500 decreased 57.32 points (2.06%) to 2,728.36. The Russell 2000 was down 30.03 points (1.91%) at 1,545.38, and the Wilshire 5000 fell 569.01 points (1.98%) to 28,198.47. The price of the 10-year Treasury note was up 6/32, decreasing its yield to 3.146%. The price of the 30-year Treasury bond increased 14/32, bringing its yield down to 3.322%. | | Compliance | Fidelity Faces Another 401(k) Self-Dealing Lawsuit | The lawsuit not only calls out Fidelity’s use of all proprietary funds in its 401(k) investment lineup, but also accuses it of not negotiating for revenue sharing rebates, not using the lowest-cost share classes, not investigating alternative investment vehicles and not evaluating stable value fund options when its money market funds poorly performed.Read more > | | Products, Deals and People | Investment Product and Service Launches | Northern Trust and Parilux Partner to Improve Investing Solutions; TIAA Adds Guaranteed Income to Custom Default Solutions; Arabesque Offers ESG Monitoring; and more.Read more > | | Small Talk | ON THIS DATE: In 1492, Christopher Columbus, an Italian explorer, sighted Watling Island in the Bahamas. He believed that he had found Asia while attempting to find a Western ocean route to India. The same day he claimed the land for Isabella and Ferdinand of Spain. In 1792, the first monument honoring Christopher Columbus was dedicated in Baltimore, Maryland. In 1810, Bavarian Crown Prince Ludwig married Princess Therese of Saxony-Hildburghausen. The royalty invited the public to attend the event which became an annual celebration that later became known as Oktoberfest. In 1920, construction of the Holland Tunnel began. The tunnel links Jersey City, New Jersey, and New York City. In 1933, the Department of Justice acquired Alcatraz Island from the Army. In 1945, Private First Class Desmond T. Doss was presented with the Congressional Medal of Honor for outstanding bravery as a medical corpsman. He was the first conscientious objector in American history to win the award. In 1961, the first video memoirs by a U.S. president were made. Walter Cronkite interviewed Dwight D. Eisenhower. In 1989, the House of Representatives approved a statutory federal ban on the destruction of the American flag. In 1999, Rob Reiner received a star on the Hollywood Walk of Fame. And now it’s time for FRIDAY FILES!
| This is sad—another skill, such as cursive, that is lost for our children.Read more > | When you’re a baby and your dad is an identical twin.Read more > | In Ludlow Falls, Ohio, a man says an 18-month-old cow named Annie has been part of his life since her mother rejected her. He says the 800-pound cow regularly climbs into the back of his truck for a ride.Read more > | In Pennsauken, New Jersey, a man found a bag of mail on the side of the road. The U.S. Postal Service says hundreds of pieces of mail meant for Philadelphia residents were dropped on the side of the road when the carrier responsible for them quit his job. The mail was later delivered. In Gilbert, Minnesota, citizens have reported birds flying into windows, cars and acting confused. In a Facebook message, the police department said the birds are ingesting berries that have fermented earlier than usual this year because of an early frost, and becoming inebri.ated, the Associated Press reports. National Parks Service ranger Sharon Stiteler tells KMSP-TV that robins and waxwings feast on fruit such as crabapples, and that the sugar in those fruits can turn into alcohol as they lose moisture. In Shreveport, Louisiana, a man cleaning his late mother’s house found a book his mother had checked out from the library and returned it. The library says the book was borrowed 84 years ago when the man’s mother was an 11-year-old girl. According to the Associated Press, the library’s maximum late fee is $3, and the library waived it. On an interesting note, “Spoon River Anthology” is a book of free verse by Edgar Lee Masters, each poem written from the viewpoint of a dead person in the imaginary town. In Honolulu, Hawaii, a marine mammal veterinarian was at lunch when she got a call from Ke Kai Ola, the Big Island hospital where she’s director. There was silence on the other end. Nine more silent calls followed. Fearing a seal emergency, she rushed back. She wasn’t the only one getting calls, and people started asking why the hospital was calling non-stop. According to the Associated Press, she walked into a lab and found the culprit. A gecko was perched on a phone, making calls to everyone in the recent call history with his feet. Have a great weekend!
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