| | Products, Deals and People | | Principal Offers In-Plan Annuity Option | | For retirement plan participants who want to
lock down a guaranteed amount of income before they retire, Principal Financial
Group has introduced Principal Pension Builder, an option that allows them to
purchase a deferred income annuity while still in the plan.Read more > | | | Market Mirror | Wednesday,
the Dow was down 48.50 points (0.28%) at 17,168.61, the NASDAQ lost 40.85
points (0.84%) to finish at 4,840.12, and the S&P 500 decreased 11.83
points (0.58%) to 2,018.94. The Russell 2000 fell 18.33 points (1.58%) to
1,144.94, and the Wilshire 5000 closed 162.97 points (0.77%) lower at
21,093.24.
On the NYSE,
3.2 billion shares traded, with declining issues outnumbering advancing issues
more than 2 to 1. On the NASDAQ, 2.7 billion shares changed hands, with a near
3 to 1 lead for decliners.
The price of the 10-year Treasury note increased
12/32, bringing its yield down to 2.026%. The price of the 30-year Treasury
bond climbed 31/32, decreasing its yield to 2.867%.
| | | Compliance | | Retirement Plan Deferral Limits Unchanged for 2016 | | The IRS announced it will not adjust most
current contribution limitations for qualified retirement plans heading into
tax year 2016, though some retirement-related tax breaks and other items have
been adjusted.Read more > | | New PBGC Director Discusses Initiatives | | Asked what issue he’s gotten the sense is the
most urgent from his first four days on the job, W. Thomas Reeder, the newly
confirmed director of the Pension Benefit Guaranty Corporation (PBGC), jokingly
told PLANSPONSOR he is most surprised by what his roles and responsibilities
with the agency actually are. On a more serious note, he shared with attendees
of the American Retirement Association’s 2015 ASPPA Annual Conference that the
agency is very focused on multiemployer plans right now. In addition, he said
the agency is looking for ways to simplify defined benefit plan calculations.Read more > | | | Small Talk | | ON THIS DATE: In
1746, the College of New Jersey was
officially chartered. It later became known as Princeton University. In 1836, Sam Houston was inaugurated as
the first constitutionally elected president of the Republic of Texas. In 1950, the Los Angeles Rams set an NFL
record by defeating the Baltimore Colts 70-27. It was a record score for a
regular season game. In 1954, the
Federal Republic of Germany was invited to join the North Atlantic Treaty
Organization (NATO). In 1962, U.S.
President Kennedy went on radio and television to inform the United States
about his order to send U.S. forces to blockade Cuba. The blockade was in
response to the discovery of Soviet missile bases on the island. In 1986, U.S. President Reagan signed the
Tax Reform Act into law. In 2010, the
International Space Station set the record (3641 days) for the longest
continuous human occupation of space. It had been continuously inhabited since
November 2, 2000. | | SURVEY SAYS: It’s
that time of year again; Halloween is approaching. And it’s time for our
Favorite Scary Movie survey 2015. We’ll see if “Psycho” gets bumped from the
top spot, and if any new movies are added to the list. You may respond to this
week’s survey by 6 p.m. Pacific time today.Read more > | | 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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