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| Benefits & Administration | |
| Retirement Preparedness Needle Not Moving | |
| Even with 88% of employees participating in their employers’ 401(k) plans, most are still underprepared for retirement, with only 19% of employees surveyed on track to reach their retirement goals, according to Financial Finesse’s Retirement Preparedness Study. The company offers suggestions for improving employees’ retirement preparedness and making sure Millennials do not end up in the same situation many Baby Boomers are in now.Read more > | |
| Research Busts Five Common Retirement Myths | |
| Conventional wisdom has it that workers plan their retirement around the amount of money they have saved. But nearly half of American workers plan to stop working on a specific date, regardless of how much they have saved for retirement. This is one of five myths debunked by Fidelity Investments, which surveyed retirement savers and recent retirees about the nonfinancial factors that influence retirement decisions.Read more > | |
| Octogenarians Give Retirement Advice | |
| Sixty-eight percent of retirees in their 80s say that figuring out whether you have enough money saved, rather than health (53%) or age (42%), should determine when to retire, according to a survey by New York Life. Fifty-four percent say they have lived longer than they expected. Thus, it is not a surprise that 88% would advise younger generations to re-create pension-like income for their retirement.Read more > | |
| Products, Deals and People | |
| Fidelity Investments announced a “Partial Administration” offering, designed for companies who want to manage their stock plan records in-house and team with an external administrator for employee servicing, guidance and brokerage services.Read more > | |
| Economic Events | |
New orders for manufactured durable goods in September decreased $2.9 billion or 1.2% to $231.1 billion, the U.S. Census Bureau announced. This decrease, down two consecutive months, followed a 3.0% August decrease. Excluding transportation, new orders decreased 0.4%. Excluding defense, new orders decreased 2.0%. Transportation equipment, also down two consecutive months, led the decrease, down $2.2 billion or 2.9% to $75.5 billion. The Conference Board Consumer Confidence Index, which had increased moderately in September, declined in October. The Index now stands at 97.6 (1985=100), down from 102.6 in September. The Present Situation Index decreased from 120.3 last month to 112.1 in October, while the Expectations Index edged down to 88.0 from 90.8 in September. | |
| Market Mirror | |
Stocks slipped Tuesday after several U.S. companies delivered disappointing results and forecasts, according to the Associated Press. The Dow decreased 41.62 points (0.24%) to 17,581.43, the NASDAQ was down 4.56 points (0.09%) at 5,030.15, and the S&P 500 closed 5.61 points (0.27%) lower at 2,065.57. The Russell 2000 fell 14.18 points (1.22%) to 1,145.32, and the Wilshire 5000 lost 91.59 points (0.42%) to finish at 21,475.37. On the NYSE, 3.2 billion shares traded, with a near 3 to 1 lead for decliners. On the NASDAQ, 2.7 billion shares changed hands, with 2.5 declining issues for every advancing issue. The price of the 10-year Treasury note increased 7/32, bringing its yield down to 2.034%. The price of the 30-year Treasury bond was up 9/32, decreasing its yield to 2.856%. | |
| Compliance | |
| A report from U.S. Senator Elizabeth Warren (D-Massachusetts) claims that annuity providers use “expensive vacations to European castles and villas, beach getaways, free iPads, golf outings, expensive jewelry and more” to incentivize retirement plan advisers to put their own interest ahead of clients. Warren, who has been a vocal supporter of President Obama’s retirement policies, says her new report highlights the need for a strong federal conflict of interest rule to protect retirees, such as the ongoing rulemaking effort at the Department of Labor.Read more > | |
| Small Talk | |
| Improved indoor environmental quality doubled participants’ scores on cognitive function tests, according to a study by researchers at the Harvard University T.H. Chan School of Public Health’s Center for Health and the Global Environment, SUNY Upstate Medical University and Syracuse University. The double-blind study evaluated the cognitive performance of 24 participants who performed normal work activity in a laboratory setting that simulates conditions found in conventional and green buildings. Employees’ cognitive performance scores averaged 101% higher in green building environments with enhanced ventilation compared to a conventional building environment.Read more > | |
ON THIS DATE: In 1636, Harvard College was founded in Massachusetts. The original name was Court of Massachusetts Bay Colony. It was the first school of higher education in America. In 1886, the Statue of Liberty was dedicated in New York Harbor by U.S. President Grover Cleveland. In 1919, the U.S. Congress enacted the Volstead Act, also known as the National Prohibition Act. In 1965, the Gateway Arch along the waterfront in St. Louis, Missouri, was completed.
WEDNESDAY WISDOM: “About the time we can make the ends meet, somebody moves the ends.”—Herbert Hoover | |
| 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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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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