Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 23rd, 2018
Compliance
DOL Seeks to Expand Access to ‘Association Retirement Plans’
Under the direction of President Trump, the Department of Labor (DOL) is seeking to make it easier for small businesses to form association retirement plans, which permit them to join together to offer defined contribution (DC) plans within a single administrative framework. To this end, the DOL has published a set of proposed regulations under Title 29 of the Code of Federal Regulations to expand access to retirement saving options by clarifying the circumstances under which an employer group, association, or professional employer organization (PEO) may sponsor a workplace retirement plan. In particular, the proposed regulation clarifies that employer groups or associations and PEOs can, when satisfying certain criteria, constitute “employers” within the meaning of Section 3(5) of the Employee Retirement Income Security Act (ERISA) for purposes of establishing or maintaining an individual account “employee pension benefit plan” within the meaning of ERISA Section 3(2). Read more >
FASB Announces Changes to DB Plan Disclosure Requirements
Some disclosure requirements are removed from Subtopic 715-20, Compensation—Retirement Benefits—Defined Benefit Plans—General, and some requirements are added. Read more >
Industry Voices
Should Plan Sponsors Purchase Annuities for Their Pension Plan?
David Davala, with Findley, discusses considerations for defined benefit (DB) plan sponsors before deciding whether to transfer some of their pension risk to an annuity provider. 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
Market Mirror

Yesterday, the Dow lost 126.93 points (0.50%) to finish at 25,317.41, the NASDAQ increased 19.60 points (0.26%) to 7,468.63, and the S&P 500 closed 11.90 points (0.43%) lower at 2,755.88. The Russell 2000 was down 2.54 points (0.16%) at 1,539.50, and the Wilshire 5000 decreased 115.94 points (0.41%) to 28,447.55.

 

The price of the 10-year Treasury note was down 1/32, increasing its yield to 3.199%. The price of the 30-year Treasury bond decreased 7/32, bringing its yield up to 3.390%.

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Benefits & Administration
U.S. Retirement System Still Ranks Low, But Slightly Improved
This year’s Melbourne Mercer Global Pension Index suggests reducing pre-retirement leakage; requiring that part of the retirement benefit must be taken as an income stream; and increasing the funding level of the Social Security program are just some steps that can be taken to improve the U.S. retirement system. Read more >
Investing
U.S. Demand Grows for ‘Safe ESG’ via Fixed-Income Vehicles
There is still not very much discussion in the U.S. about fixed-income investments pursuing environmental, social and governance (ESG) themes, according to BlueBay Asset Management’s My-Linh Ngo, but there are some compelling opportunities out there that institutional investors should consider. Read more >
Small Talk

ON THIS DATE: In 1864, during the U.S. Civil War, Union forces led by Gen. Samuel R. Curtis defeated the Confederate forces in Missouri that were under Gen. Stirling Price. In 1910, Blanche S. Scott became the first woman to make a public solo airplane flight in the United States. In 1915, approximately 25,000 women demanded the right to vote with a march in New York City. In 1929, the Dow Jones Industrial Average plunged starting the stock-market crash that began the Great Depression. In 1946, the United Nations General Assembly convened in New York for the first time. In 1956, NBC broadcasted the first videotape recording. The tape of Jonathan Winters was seen coast to coast in the U.S. In 1958, Russian poet and novelist Boris Pasternak was awarded the Nobel Prize for literature. He was forced to refuse the honor due to negative Soviet reaction. Pasternak won the award for writing “Dr. Zhivago.” In 1973, President Richard M. Nixon agreed to turn over the subpoenaed tapes concerning the Watergate affair. In 1978, China and Japan formally ended four decades of hostility when they exchanged treaty ratifications.

TRIVIAL PURSUITS: What is the only U.S. state with no indigenous poisonous animals? 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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