Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 3rd, 2018
Benefits & Administration
Nearly Eight in 10 Workers Want to Work in Retirement
Seventy-nine percent of workers want or expect to work in retirement, said Lisa Greenwald, executive vice president with Greenwald & Associates, during a webinar, but only 33% of retirees have worked for pay since retiring. Twenty-one percent of workers expect that working in retirement will provide them with a major source of income, but this is only true for 9% of retirees, Greenwald said. When workers were asked why they would like to work in retirement, 94% said they want to stay active and involved. Eighty-two percent said they enjoy working, 90% want money to buy extra things in retirement, and 74% expect the income will be necessary to make ends meet. Read more >
Americans Want a Combination of Tech and Humans for Help With Finances
Charles Schwab’s new Consumer Digital Demands report, based on a survey of 1,000 U.S. consumers, finds 56% would like the creation of a financial plan to be as easy as booking a hotel room. Nonetheless, the survey found that Americans still want access to a person, with 86% saying they prefer to work with financial companies that make it easy to interact with a person, and 43% saying they prefer human assistance over automation even for daily activities. Read more >
Prudential Takes on $1.6 Billion PRT from International Paper
International Paper announced plans to settle approximately $1.6 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America. Read more >
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Market Mirror

Tuesday, the Dow gained 122.73 points (0.46%) to finish at 26,773.94, the NASDAQ was down 37.76 points (0.47%) at 7,999.55, and the S&P 500 fell 1.16 points (0.04%) to 2,923.43. The Russell 2000 fell 16.95 points (1.01%) to 1,656.04, and the Wilshire 5000 was down 24.31 points (0.08%) at 30,255.01.

 

The price of the 10-year Treasury note was up 8/32, decreasing its yield to 3.053%. The price of the 30-year Treasury bond increased 19/32, bringing its yield down to 3.206%.

Sponsored message from Vanguard
How TDFs can help combat inflation
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Compliance
EEOC Continues to Crack Down on Age Bias
Last year, the Equal Employment Opportunity Commission (EEOC) celebrated the 50th birthday of the Age Discrimination in Employment Act (ADEA). Recognizing that today’s employees live longer and want to work longer, it held a hearing to discuss what works and what doesn’t in the ADEA. The EEOC continues to crack down on age bias, filing two new lawsuits against Norfolk Southern and Llanerch Country Club. Read more >
District Court Soundly Dismisses Washington University 403(b) Lawsuit
The court holds that bundling services or revenue sharing are common and acceptable investment industry practices that frequently inure to the benefit of Employee Retirement Income Security Act (ERISA) plans. Read more >
Small Talk

ON THIS DATE: In 1863, 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 1942, the Office of Economic Stabilization was established by President Franklin D. Roosevelt. He also authorized controls on rents, wages, salaries and farm prices. In 1955, “Captain Kangaroo” premiered on CBS-TV. In 1955, “The Mickey Mouse Club” premiered on ABC-TV. In 1974, Frank Robinson took over the management position of the Cleveland Indians baseball team. He was the first black 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.

 

 

WEDNESDAY WISDOM: “I like long walks, especially when they are taken by people who annoy me.”—Fred Allen, American comedian

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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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