Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 22nd, 2018
Benefits & Administration
Millennial Educators Especially Want Retirement Savings Investing Help
Saving for retirement ranks as a top long-term financial goal among Millennial educators, yet tackling credit card debt and student loans is a major barrier, according to a new study from Security Benefit. Millennial educators said they need help with retirement planning, especially when it comes to determining an appropriate asset allocation or the best investment vehicle. Read more >
OPERS Reduces Return Assumptions
The Ohio Public Employees Retirement System (OPERS) Board of Trustees said the move is expected to lower its funding level, but increase the time in which it can pay off liabilities. Read more >
Compliance
Dignity Health ‘Church Plan’ Litigation Defeats Dismissal Motions
The U.S. District Court for the Northern District of California has denied most, but not all, of the defense’s motions for summary judgement in the case of Rollins v. Dignity Health. The case already made it once to the Supreme Court which helped to clarify what it means to be a “church plan” run by a principal-purpose organization under ERISA—but the underlying facts of the lawsuit are still being fought over. The plaintiffs have already filed an amended complaint to address points in the latest decision. Read more >
MOST READ ARTICLES
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IRS Announces 2019 HSA Contribution Limits
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IRS Proposes Amendments to Hardship Withdrawal Regulations
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Retirement Industry People Moves
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Crash Course on Social Security From AARP
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Analysis Shows Impact of Financial Wellness Programs on Retirement Readiness
DOL Not Giving Up on Fiduciary Rule
Both the Department of Labor (DOL) and the Securities and Exchange Commission (SEC) have a September 2019 date for a final action on corresponding fiduciary and best interest rules—could they be collaborating? Read more >
Economic Events

Existing-home sales declined in September after a month of stagnation in August, according to the National Association of Realtors. All four major regions saw no gain in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.4% from August to a seasonally adjusted rate of 5.15 million in September. Sales are now down 4.1% from a year ago (5.37 million in September 2017).

 

THE ECONOMIC WEEK AHEAD: Wednesday, the Census Bureau will report about new home sales for September. Thursday, the Labor Department will release its initial claims report, and the Census Bureau will report about durable goods orders for September.

Sponsored message from TIAA
Strategies to help recruit, retain and retire employees
You can help strengthen your workforce and manage unexpected costs by focusing on three key areas. Read more >
Market Mirror

Friday, the Dow increased 64.89 points (0.26%) to 25,444.34, the NASDAQ closed 36.11 points (0.48%) lower at 7,449.03, and the S&P 500 was down 1.00 point (0.04%) at 2,767.78. The Russell 2000 lost 18.71 points (1.20%) to finish at 1,542.04, and the Wilshire 5000 decreased 58.64 points (0.20%) to 28,563.50.

 

The price of the 10-year Treasury note was down 3/32, increasing its yield to 3.194%. The price of the 30-year Treasury bond decreased 8/32, bringing its yield up to 3.380%.

 

WEEK’S WORTH: For the week ending October 19, the Dow increased 0.41%, the NASDAQ finished 0.64% lower, and the S&P 500 was up 0.02%. The Russell 2000 decreased 0.30%, and the Wilshire 5000 was down 0.02%.

Products, Deals and People
More Providers Offering Resources for National Retirement Security Week
Mutual of America and TIAA have announced resources for plan sponsors to educate employees. Read more >
Retirement Industry People Moves
The Hilb Group Acquires Actuarial Consulting Firm; Mercer Hires Past Actuarial Associate as Principal; ESOP Consultant Joins Ascensus TPA Solutions; and more. 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 1962, President John 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, President Ronald Reagan signed the Tax Reform Act of 1986 into law. In 1995, the 50th anniversary of the United Nations was marked by a record number of world leaders gathering.

SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Is there a Halloween party on your schedule this year, and does it require dressing in costume?” Apparently, Halloween parties are not in vogue among friends and families of responding readers as more than two-thirds (67.6%) said a Halloween party is not on their schedule. Nearly three percent are hosting one themselves, 23.5% said they are attending one hosted by someone else, and 11.8% are attending one at work. For those planning to attend a Halloween party, 61.9% said dressing up in costume is not required. Only 14.3% said it is required, and the remaining said it is recommended, but not required. Many of the readers who chose to leave comments share my view of not liking Halloween parties (or dressing up in costume). However, some felt otherwise. Some readers said Halloween was just for children, but offered ways they enjoy the ‘holiday’ as adults. Editor’s Choice goes to the reader who said: “For several years my costume has been stressed, overworked and underpaid TPA.” Thanks to everyone who participated in the survey! Read more >
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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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