Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 3rd, 2017
Compliance
PBGC Makes Proposals About Plan Terminations
The agency is proposing that termination forms may be filed electronically and that plan sponsors be offered a pre-filing consultation. Read more >
Fidelity Wins Dismissal of Suit Over Advice and SDBAs
The court basically decided Fidelity was not the fiduciary responsible for choosing to provide the advice and self-directed brokerage account (SDBA) offerings to participants. Read more >
Broker Accused of Pay-to-Play With New York Fund Avoids Prison
A sentencing memorandum for Deborah Kelley cites many letters from friends, family and former co-workers attesting to “a life otherwise characterized by a deep devotion to her family, friends and community.” Read more >
Benefits & Administration
International Paper Offloads $1.3B in Pension Liabilities
Prudential will formally assume responsibility for pension benefits for approximately 45,000 former employees or their beneficiaries receiving less than $450 in monthly benefit payments from the plan. Read more >
MOST READ ARTICLES
1
The Senate Math That Could Block SECURE Act
2
House Committee Advances Bill to Establish Union Pension Lifeline Program
3
Open MEPs Not for Every Plan Sponsor
4
Driving Financial Wellness at Work
5
Pension Participants Claim ERISA Breaches in Dow DuPont Pension Transfer
Economic Events

Construction spending during August was estimated at a seasonally adjusted annual rate of $1,218.3 billion, 0.5% above the revised July estimate of $1,212.3 billion, the Census Bureau reported. The August figure is 2.5% above the August 2016 estimate of $1,189.1 billion. During the first eight months of this year, construction spending amounted to $806.2 billion, 4.7% above the $769.9 billion for the same period in 2016.

Market Mirror

Yesterday, the Dow gained 152.51 points (0.68%) to finish at 22,557.60, the NASDAQ increased 20.76 points (0.32%) to 6,516.72, and the S&P 500 was up 9.76 points (0.39%) at 2,529.12. The Russell 2000 climbed 18.61 points (1.25%) to 1,509.47, and the Wilshire 5000 closed 122.92 points (0.47%) higher at 26,356.26.

 

The price of the 10-year Treasury note was down 3/32, increasing its yield to 2.342%. The price of the 30-year Treasury bond decreased 6/32, bringing its yield up to 2.871%.

Sponsored message from Milliman
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From the Magazine
Harvesting The Right Facts and Figures
Data analytics can increasingly help employers make decisions about their benefits programs, whether these be health, retirement or otherwise. “There’s a lot more data available now than in the past, and it’s a lot easier to get the data—to ‘mine’ it—and to analyze it,” says Betsy Dill, senior partner at consultant Mercer in Los Angeles. Read more >
Small Talk

ON THIS DATE: In 1863, U.S. President Abraham Lincoln declared that the last Thursday of November would be recognized as Thanksgiving Day. In 1893, the motor-driven vacuum cleaner was patented by J.S. Thurman. In 1901, the Victor Talking Machine Company was incorporated. In 1922, Rebecca L. Felton became the first female to hold office of U.S. Senator. She was appointed by Governor Thomas W. Hardwick of Georgia to fill a vacancy. In 1932, Iraq was admitted into the League of Nations leading Britain to terminate its mandate over the nation. Britain had ruled Iraq since taking it from Turkey during World War I. In 1942, the Office of Economic Stabilization was established by U.S. President Franklin D. Roosevelt. He also authorized controls on rents, wages, salaries and farm prices. In 1954, “Father Knows Best” began airing on CBS-TV. In 1955, “Captain Kangaroo” premiered on CBS-TV. In 1955, “The Mickey Mouse Club” premiered on ABC-TV. In 1961, “The Dick Van Dyke Show” debuted on CBS-TV. In 1974, Frank Robinson took over the management position of the Cleveland Indians baseball team. He was the first African-American manager in major league baseball. In 1989, Art Shell became the first African-American head coach in the modern NFL when he took over the Los Angeles Raiders. In 1990, the Berlin Wall was dismantled eleven months after the borders between East and West Germany were dissolved. The unification of Germany ended 45 years of division. In 2003, Ray Horn, of the duo “Siegfried & Roy,” was attacked by tiger during a performance. Roy survived the attack after being dragged offstage. The tiger, a seven-year-old male named Montecore, was debuting in his first show.

TRIVIAL PURSUITS: When discussing a book that teaches the basics of some discipline, how should the word “primer” be pronounced? 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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