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| Boomers in Poor Shape for Retirement | |
| Baby Boomers are ill-prepared for retirement, the Insured Retirement Institute (IRI) says in its new report, “Baby Boomers and Retirement Planning Strategy.” Forty percent have no retirement savings at all, and 69% have no defined benefit (DB) plan. Of those who do have savings, 59% have saved less than $250,000, and 37% have saved less than $100,000. But, fortunately, there are steps they can take to improve their situation, IRI says.Read more > | |
| Market Mirror | |
Major U.S. stock indices moved lower on Tuesday as investors assessed the latest deal news and company earnings reports, according to the Associated Press. The Dow was down 49.97 points (0.29%) at 17,081.89, the NASDAQ fell 42.03 points (0.87%) to 4,796.61, and the S&P 500 decreased 13.77 points (0.68%) to 2,003.69. The Russell 2000 lost 16.56 points (1.42%) to finish at 1,147.84, and the Wilshire 5000 closed 163.59 points (0.77%) lower at 21,001.57.
On the NYSE, 3.2 billion shares changed hands, and on the NASDAQ, 2.7 billion shares traded, with declining issues outnumbering advancing issues nearly 3 to 1 on both exchanges.
The price of the U.S. Treasury note increased 13/32, bringing its yield down to 2.044%. The price of the 30-year Treasury bond climbed 23/32, decreasing its yield to 2.885%. | |
| PLANSPONSOR Awards | |
| Looking for Award-Worthy Plan Sponsors! | |
| We are now accepting nominations for the 2016 PLANSPONSOR Plan Sponsor of the Year awards. This is an excellent opportunity for you to tell your story and share your successes with peers. We are looking for plans of all types—pension, 401(k), 403(b), 457, public defined contribution (DC), etc.—and of all sizes. You can nominate a plan, or yourself, here.Read more > | |
| Ask the Experts | |
| Do Inactive-Vendor 403(b) Accounts Count Toward Cash-outs? | |
| “We are reducing the number of recordkeepers in our Employee Retirement Income Security Act (ERISA) 403(b) retirement plan from five to a sole recordkeeper, beginning in 2016. At the same time, we wish to add a small balance cash-out provision to our plan. Must we count the balances of the inactive vendors in determining the cash-out amount?”Read more > | |
| Investing | |
| Defined contribution (DC) participants transferred money from equities to fixed income amid a rough September on Wall Street, according to the Aon Hewitt 401(k) Index. Fixed-income funds were the only asset class with positive net inflows for the month.Read more > | |
| Small Talk | |
| More than half (53%) of respondents to a survey from Staples report having gone to work with the flu—despite knowing how this might affect their coworkers and company line. Why do employees come to work sick?Read more > | |
| ON THIS DATE: In 1912, Theodore Roosevelt was shot while campaigning in Milwaukee, Wisconsin. Roosevelt’s wound in the chest was not serious, and he continued with his planned speech. William Schrenk was captured at the scene of the shooting. In 1926, the book “Winnie-the-Pooh,” by A.A. Milne, made its debut. In 1933, Nazi Germany announced that it was withdrawing from the League of Nations. In 1936, the first SSB (Social Security Board) office opened in Austin, Texas. From this point, the board’s local office took over the assigning of Social Security Numbers. In 1947, over Rogers Dry Lake in Southern California, pilot Chuck Yeager flew the Bell X-1 rocket plane and became the first person to break the sound barrier. In 1964, Dr. Martin Luther King Jr. was awarded the Nobel Peace Prize for his non-violent resistance to racial prejudice in America. He was the youngest person to receive the award. | |
| WEDNESDAY WISDOM: “Act as if what you do makes a difference. It does.” —William James, philosopher and psychologist | |
| 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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