Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 16th, 2017
Benefits & Administration
The Social Security Administration Announces COLA for 2018
Social Security and Supplemental Security Income recipients will see a 2% increase next year—the largest increase since 2012. Read more >
Shift to DB Plans Causes Concern Internationally
A recent survey from the American Academy of Actuaries, the U.K’s Institute and Faculty of Actuaries, and the Actuaries Institute of Australia found workers in the three countries have similar reasons for lamenting the shift from defined benefit (DB) pensions to defined contribution (DC) plans. Read more >
Products, Deals and People
Retirement Industry People Moves
LCG Associates hires Atlanta consultant; Capital Investment Companies announces collaboration; TRA announces leadership expansion; and more. Read more >
Trump Eying Top Aide to Sen. Hatch for Lead EBSA Role
President Donald Trump has announced his intent to nominate Preston Rutledge as head or assistant secretary of labor for the Department of Labor (DOL)’s Employee Benefits Security Administration (EBSA), according to an official release from the White House. Read more >
MOST READ ARTICLES
1
J.P. Morgan Agrees to Settle Stable Value Funds Suit
2
SECURE Act Passes House, Bringing Calls for Senate Collaboration
3
Individuals, Employers and Government All Play a Part in Retirement Readiness
4
Participant Loans: A Fiduciary Storm Brewing?
5
What to Know About Financial Audits Filed with Form 5500s
Economic Events

The combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,369.2 billion, up 0.7% from July and was up 5.5% from August 2016, the Census Bureau reported.

 

Advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $483.9 billion, an increase of 1.6% from the previous month, and 4.4% above September 2016. Retail trade sales were up 1.7% from August, and up 4.7% from last year. Gasoline Stations were up 11.4% from September 2016, while Building Materials and Garden Equipment and Supplies Dealers were up 10.7% from last year.

 

In September, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5% seasonally adjusted (SA); rising 2.2% over the last 12 months, not seasonally adjusted (NSA), according to the Bureau of Labor Statistics. The index for all items less food and energy rose 0.1% in September (SA); up 1.7% over the year (NSA).

 

Real average hourly earnings decreased 0.1% in September, seasonally adjusted. Average hourly earnings increased 0.5%, and CPI-U increased 0.5%. Real average weekly earnings decreased 0.1% over the month.

 

THE ECONOMIC WEEK AHEAD: Wednesday, the Census Bureau will report about housing starts for September. Thursday, the Labor Department will release its initial claims report, and Friday, the National Association of Realtors will report about existing home sales for September.

Sponsored message from Charles Schwab Retirement Plan Services Inc.
Workplace Financial Wellness
Insights on definition, design, and what’s driving decisions for financial wellness programs in the workplace. Read more >
Market Mirror

Friday, the Dow increased 30.71 points (0.13%) to 22,871.72, the NASDAQ gained 14.29 points (0.22%) to 6,605.80, and the S&P 500 was up 2.24 points (0.09%) at 2,553.17. The Russell 2000 was down 2.51 points (0.17%) at 1,502.65, and the Wilshire 5000 closed 18.58 points (0.07%) higher at 26,577.93.

 

The price of the 10-year Treasury note increased 13/32, bringing its yield down to 2.275%. The price of the 30-year Treasury bond climbed 27/32, decreasing its yield to 2.805%.

 

WEEK’S WORTH: For the week ending October 13, the Dow gained 0.43%, the NASDAQ finished 0.24% higher, and the S&P 500 increased 0.15%. The Russell 2000 closed 0.50% lower, and the Wilshire 5000 was up 0.11%.

From the Magazine
Fiduciary Management Model
Until November 2015, the fiduciary committee for Teradyne, a high tech global product company, managed its 401(k) plan investment lineup for the 3,566-participant plan. Steve Fagerquist, vice president of human resources (HR) for Teradyne says the increase in 401(k) plan complexity, litigation and fiduciary regulation led the company to examine its in-house investment expertise. “We became aware of the rise of the outsourced model, and the significance of the workload we were doing as a collateral duty to the lives of the company employees.” Read more >
Small Talk

ON THIS DATE: In 1701, The Collegiate School was founded in Killingworth, Connecticut. The school moved to New Haven in 1745 and changed its name to Yale College. In 1793, during the French Revolution, Queen Marie Antoinette was beheaded after being convicted of treason. In 1829, in Boston, the first modern hotel in America opened. The Tremont Hotel had 170 rooms that rented for $2 a day and included four meals. In 1869, a hotel in Boston became the first in the U.S. to install indoor plumbing. In 1923, Walt Disney contracted with M.J. Winkler to distribute the Alice Comedies. This event is recognized as the start of the Disney Company. In 1943, Chicago’s subway system was officially opened with a ribbon cutting ceremony. In 1962, U.S. President Kennedy was informed that there were missile bases in Cuba, beginning the Cuban missile crisis. In 1964, China detonated its first atomic bomb becoming the world’s fifth nuclear power. In 1967, NATO headquarters opened in Brussels. In 1973, Henry Kissinger and Le Duc Tho were named winners of the Nobel Peace Prize. The Vietnamese official declined the award. In 1995, the “Million Man March” took place in Washington, D.C. In 2000, it was announced that Chevron Corp. would be buying Texaco Inc. for $35 billion. The combined company was called Chevron Texaco Corp. and became the 4th largest oil company in the world.

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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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