Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 18th, 2016
Benefits & Administration
Employees Benefit From Early Focus on Retirement Income
Data from the Lincoln Financial Group American Consumer Study shows that individuals increasingly understand they are going to be responsible for their own retirement security. While awareness of retirement challenges is high, according to the study, still more than a third of Americans (36%) say they wish they were putting more money into their retirement savings plans. More than half are prioritizing paying off short-term debt over saving for retirement.  Read more >
Mercer Calls on Employers to Lead the Change in Health Benefits
Mercer says that today, stakeholders other than employers―i.e. health plan providers, the government―define the rules for employer-sponsored health care benefits, and it would like to change that around. Mercer believes employers should have better influence because of their purchasing power. Read more >
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Products, Deals and People
John Hancock Calls for Celebration of TPAs
John Hancock is celebrating its second-annual National TPA Day and is urging other firms and industry stakeholders to pause and recognize the contributions and expertise of third-party administrators (TPAs). “National TPA Day is an opportunity for us to recognize the unique value, local expertise and high-touch service TPAs deliver to the industry,” observes Patrick Murphy, president of John Hancock Retirement Plan Services. “We created this annual celebration to thank TPAs for their ongoing partnership.” Read more >
T. Rowe Price Releases Retirement Videos for Women
In recognition of National Retirement Security Week, T. Rowe Price released “Women on Retirement: Stories to Empower,” a seven-part, documentary-style video series created to help women navigate the unique challenges they face when saving for retirement. Read more >
Sponsored message from SEI
A Changing Landscape Requires a New Approach: DC Discretion
Sponsors consider discretionary investment management. Why the shift? Read more >
Market Mirror

Yesterday, the Dow lost 51.98 points (0.29%) to finish at 18,086.40, the NASDAQ closed 14.34 points (0.27%) lower at 5,199.82, and the S&P 500 decreased 6.48 points (0.30%) to 2,126.50. The Russell 2000 was down 2.28 points (0.19%) at 1,210.13, and the Wilshire 5000 fell 68.93 points (0.31%) to 22,099.89.

On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.9 billion shares traded, with 3 declining issues for every 2 advancing issues on both exchanges.

The price of the 10-year Treasury note was up 11/32, decreasing its yield to 1.764%. The price of the 30-year Treasury bond increased 25/32, bringing its yield down to 2.522%. 

Compliance
Wells Fargo Targeted in Second Stock Drop Compliant
A new lawsuit filed in the U.S. District Court for the District of Minnesota suggests Wells Fargo’s highly publicized sales violations in its personal banking business have also caused the company to breach its fiduciary duty to retirement plan participants. In this case, plaintiffs argue that a refusal to purchase company stock is not a “transaction” within the meaning of insider trading prohibitions and would not have required any independent disclosures. Read more >
Investing
Passive Funds Lead Investor Demand in September
In addition, the approaching deadline for money market funds to comply with new regulations caused an even greater bifurcation among taxable money market funds, Strategic Insight reports. Read more >
Small Talk

ON THIS DATE: In 1767, the Mason-Dixon line was agreed upon. It was the boundary between Maryland and Pennsylvania. In 1842, Samuel Finley Breese Morse laid his first telegraph cable. In 1867, the U.S. took formal possession of Alaska from Russia. The land was purchased for a total of $7 million dollars (two cents per acre). In 1892, the first long-distance telephone line between Chicago and New York City was opened. In 1943, the first broadcast of “Perry Mason” was presented on CBS Radio. In 1967, the American League granted permission for the A’s to move to Oakland. Also, new franchises were awarded to Kansas City and Seattle. In 1977, Reggie Jackson tied Babe Ruth’s record for hitting three homeruns in a single World Series game. Jackson was only the second player to achieve this. In 1997, a monument honoring U.S. servicewomen, past and present, was dedicated at Arlington National Cemetery. 

TRIVIAL PURSUITS: You may have heard the terms ‘gray matter’ and ‘white matter’ referring to your brain. But, what color is your brain?Read more >
Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >

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

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