Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 14th, 2016
Award Nominations Open
Nomination forms for the 2017 PLANSPONSOR Plan Sponsor of the Year Awards and Retirement Plan Adviser of the Year awards are now available.Read more >
Benefits & Administration
Even those already in retirement worry about health care and running out of money, indicating plan sponsors can introduce participants to health savings and lifetime income options, a survey finds. Read more >
Advanced Analytics Important for Health Benefit Decisions
Eighty-three percent of HR practitioners say using advanced analytics to understand how employees use health care services, who high-risk employees are and how to intervene effectively is the only way to lower costs and improve financial results.Read more >
MOST READ ARTICLES
1
Not Having a Retirement Drawdown Strategy Can Affect Retirement Security
2
DuPont Plan Participants Claim Arbitrary Interpretation Reduced Their Pension Benefits
3
2021 Recordkeeping Survey
4
Defined Benefit vs. Defined Contribution: Understanding the Costs of Each
5
Considering the Arguments for and Against Actively Managed Funds in DC Plans
Products, Deals and People
Investment Products and Services Launches
MPI releases Target-Date Radar; Fidelity ETFs see another price reduction; New TDF Index released, and more.Read more >
Economic Events

In the week ending October 8, the advance figure for seasonally adjusted initial claims for unemployment insurance was 246,000, unchanged from the previous week’s revised level of 246,000. The four-week moving average was 249,250, a decrease of 3,500 from the previous week’s revised average of 252,750. This is the lowest level for this average since November 3, 1973 when it was 244,000.

The average interest rate for a 30-year fixed-rate mortgage is 3.47%, up from 3.42% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.76%, up from 2.72%. 

Sponsored message from Investment Quarterly: The New Active
The combination of big data and artificial intelligence is transforming how active managers identify new factor signals to build better alpha models. Read more >
Market Mirror

Thursday, the Dow was down 45.26 points (0.25%) at 18,098.94, the NASDAQ lost 25.69 points (0.49%) to finish at 5,213.33, and the S&P 500 decreased 6.63 points (0.31%) to 2,132.55. The Russell 2000 fell 11.48 points (0.94%) to 1,215.74, and the Wilshire 5000 closed 89.69 points (0.40%) lower at 22,167.79.

On the NYSE, 3.1 billion shares changed hands with declining issues outnumbering advancing issues 2 to 1. On the NASDAQ, 2.9 billion shares traded, with a more than 2 to 1 lead for decliners.

The price of the 10-year Treasury note was up 8/32, decreasing its yield to 1.745%. The price of the 30-year Treasury bond increased 11/32, bringing its yield down to 2.482%. 

Compliance
Stock Drop Suit Targets Wells Fargo
In the new Employee Retirement Income Security Act (ERISA) lawsuit, Wells Fargo 401(k) plan participants allege that plan fiduciaries knew well in advance about the problematic sales practices that have come to light in the last month.  Read more >
From the Magazine
How to Define ‘Temporary Employee’
Retirement plans frequently exclude “temporary employees” from eligibility. But what is a temporary employee? The term isn’t clearly defined in the law, and plan sponsors do not all use it the same way.  Read more >
Investing
Plan Sponsors Could See Effects from SEC Final Liquidity Rule
Stronger liquidity rules for mutual funds and permitting ‘swing pricing’ could help long-term retirement investors. Read more >
Small Talk
ON THIS DATE: In 1887, Thomas Edison and George E. Gouraud reached an agreement for the international marketing rights for the phonograph. 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 1930, Ethel Merman debuted on Broadway in “Girl Crazy.” In 1933, Nazi Germany announced 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 1943, the Radio Corporation of America finalized the sale of the NBC Blue radio network. Edward J. Noble paid $8 million for the network that was renamed the American Broadcasting Company. 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. In 1968, the first live telecast to come from a manned U.S. spacecraft was transmitted from Apollo 7.

 

And now it’s time for FRIDAY FILES!

Life hacks for your car. Read more >
Admit it; you want a Ninja Warrior course in your backyard. Read more >
How did they fit so many people in this little car?Read more >

In Landaff, New Hampshire, a couple’s wedding was delayed for hours―because the groom’s mother went for a walk. According to the Associated Press, the mother had gone for a walk in nearby woods, and went she didn’t return in time for the wedding, help was called. Several troopers responded with conservation officers from New Hampshire Fish and Game and a K-9 unit. The woman was found an hour and a half later. She had gotten lost.

In Half Moon Bay, California, a third-grade teacher from Washington State won a pumpkin-weighing contest. Hers weighed in at 1,910 pounds. At $6 a pound, the woman will receive nearly $11,500 in prize money.

In Falmouth, Maine, a 24-year-old woman was issued a summons after police caught her stealing a Trump campaign sign off public property. There were several more in her car. The Bangor Daily News reports that the woman told police she “is upset with Trump.”

In Omaha, Nebraska, a man was worried after he couldn’t reach his grandmother, who lives in Palm Coast, Florida, after Hurricane Matthew struck. The man told ABC News, “I was calling the police department, I was calling the sheriff’s department, and no one was answering, so I was really worried.” So, he finally decided to order a pizza for her. He said he wrote a special instruction when he placed the pizza order, asking the delivery person to call his phone when the pizza was delivered. He then asked the deliveryman to give his cellphone to his grandmother so he could hear from her and make sure she was OK.  The man said when he heard his grandmother’s voice on the other line, he felt “relief, absolute relief.” He joked, “Police and fire couldn’t do it, but Papa John’s got there in 30 minutes and put the cellphone to her ear.”

In Houston, Texas, a former 911 operator has allegedly confessed to hanging up on callers seeking emergency help because “she did not want to talk to anyone at that time.” The local NBC News station reports, she is charged with two counts of interference with an emergency telephone call, a class A misdemeanor that carries a punishment of up to a year in jail and a $4,000 fine for each count upon conviction.

 

Have a great weekend, everyone

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

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