Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 19th, 2016
Benefits & Administration
The Social Security Administration has announced that monthly Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans will increase 0.3% in 2017.Read more >
Student Loans Hinder Participants from Saving More
Student loan debt is affecting workers’ potential to retire comfortably, according to a survey from Aon Hewitt. Workers with student loans are participating in employer-sponsored retirement plans at a lower rate than those without outstanding student loan debt (71% compared to 77%). In addition, the study found that slightly more than half (51%) of workers with outstanding student loan debt are contributing no more than 5% of their income toward retirement plans.Read more >
MOST READ ARTICLES
1
2020 Recordkeeping Survey
2
How to Effectively Measure Retirement Plan Success
3
CARES Act Considerations: CRDs, RMDs, Taxes and More
4
The NQDC Market
5
Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit
Millennials Want Financial Education from Many Sources
The financial services industry is increasingly focused on winning Millennial customers, but most firms still fail to deliver an experience that will resonate with the generation, according to a study released by Corporate Insight.Read more >
Products, Deals and People
Voya Launches Behavioral Finance Research Institute
Voya Financial, Inc. launched its Voya Behavioral Finance Institute for Innovation. The new research initiative is focused on gaining deeper insights into the behaviors and decisions of Americans regarding their financial and retirement planning activities. The Institute’s first white paper, “Using Decision Styles to Improve Financial Outcomes – Why Every Plan Needs a Retirement Check-Up,” examines the two primary styles that people use to make decisions.Read more >
Sponsored message from ADP
Winning With Wellness
Learn more about financial wellness programs for employees, the new frontier in employee benefits.Read more >
Economic Events

On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in September after rising 0.2% in August, the Bureau of Labor Statistics reported. The index for all items less food and energy rose 0.1% in September after increasing 0.3% in August.

Real average hourly earnings decreased 0.1% in September, seasonally adjusted. Average hourly earnings increased 0.2%, and CPI-U increased 0.3%. Real average weekly earnings increased 0.2% over the month.
Market Mirror

Tuesday, the Dow gained 75.54 points (0.42%) to finish at 18,161.94, the NASDAQ closed 44.01 points (0.85%) higher at 5,243.84, and the S&P 500 increased 13.10 points (0.62%) to 2,139.60. The Russell 2000 was up 7.16 points (0.59%) at 1,217.29, and the Wilshire 5000 climbed 143.06 points (0.65%) to 22,242.95.

On the NYSE, 3.1 billion shares traded, with advancing issues outnumbering declining issues more than 3 to 1. On the NASDAQ, 2.9 billion shares changed hands, with a near 2 to 1 lead for advancers.

The price of the 10-year Treasury note was up 8/32, decreasing its yield to 1.741%. The price of the 30-year Treasury bond increased 9/32, bringing its yield down to 2.507%.
Compliance
The Governmental Accounting Standards Board (GASB) has issued an Exposure Draft of a proposed Implementation Guide that contains questions and answers intended to clarify, explain, or elaborate on the requirements of GASB Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans. The proposed Implementation Guide provides answers to more than 150 questions about the GASB’s new standards.Read more >
Deutsche Bank 401(k) Self-Dealing Suit Moves Forward
In a lawsuit alleging that Deutsche Bank and other defendants violated their fiduciary duties by offering in its 401(k) plan proprietary, high-cost investments that profited the bank, U.S. District Judge Lorna G. Schofield, of the U.S. District Court for the Southern District of New York, mostly tossed the defendants’ motion to dismiss.Read more >
Ask the Experts
“Can 403(a) plans be merged into 403(b) plans or can they only be merged into other 403(a) plans?”Read more >
Investing
DC Plans a Gateway for Mutual Fund Investing for Millennials
Forty-five percent of households headed by Millennials held their funds only through employer-sponsored retirement plans, according to the Investment Company Institute.Read more >
Small Talk

ON THIS DATE: In 1781, British General Charles Lord Cornwallis surrendered to U.S. General George Washington at Yorktown, Virginia. It was the last major battle of the American Revolutionary War. In 1933, basketball was introduced to the 1936 Olympic Games by the Berlin Organization Committee. In 1937, “Woman’s Day” was published for the first time. In 1950, the United Nations forces entered the North Korean capital of Pyongyang. In 1951, U.S. President Truman signed an act officially ending the state of war with Germany. In 1960. the United States imposed an embargo on exports to Cuba covering all commodities except medical supplies and certain food products. In 1983, the U.S. Senate approved a bill establishing a national holiday in honor of Martin Luther King Jr. In 1987, the Dow Jones industrial average dropped 508 points. It was the worst one-day percentage decline, 22.6%, in history. In 1989, the U.S. Senate rejected a proposed constitutional amendment that barred the desecration of the American flag.

 

WEDNESDAY WISDOM: “Don’t cry because it’s over. Smile because it happened.”―Dr. Seu
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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