Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 30th, 2018

An Invitation to the Best of PSNC

If you are a plan sponsor or adviser who lives/works in or near Chicago, New York, Boston, San Francisco or Houston, you don’t’ want to miss our Best of PSNC events. In a half-day format, you’ll drill down into the latest industry trends and best practices in critical areas including plan design, fund lineup construction, financial wellness and participant education, regulatory compliance and more. Read more >
Benefits & Administration
Longevity Concerns Inform Education Opportunities
Increased life expectancy among Americans—which currently stands at 76 years for men and 81 for women—has extended the average retirement period to 18 years, and it highlights the need for individuals to have a comprehensive plan for saving and investing, according to BMO Wealth Management U.S. A survey of more than 500 Americans age 55 and older finds top concerns about a lengthy retirement are health care costs and quality of life (46%), being a burden on family members (45%), and running out of money during retirement (44%). BMO says individuals should know to plan for living beyond the average life expectancy and what medical expenses to expect, among other things. Read more >
Individuals Not Seeking Help for the Hardest Retirement Concerns
A study found the top financial tasks individuals need help with include choosing when to retire, choosing appropriate investments and developing a strategy to withdraw from multiple accounts. Read more >
Retirement Plan Design Options Can Help With Individual’s Savings Concerns
For 70% of employees, regardless of their income level, saving for retirement is their top financial concern, according to yet another survey. “We found that saving for retirement outweighs other important priorities, such as ensuring employees have enough money for a roof over their heads or medical expenses,” says Chris Dugan, director of retirement plan communications for The Standard. “Given its importance to employees, it’s crucial for advisers and employers to do what they can to help support their retirement readiness efforts.” The Standard recommends automatic plan features as well as managed accounts. Read more >
MOST READ ARTICLES
1
IRS Announces 2019 HSA Contribution Limits
2
IRS Proposes Amendments to Hardship Withdrawal Regulations
3
Retirement Industry People Moves
4
Crash Course on Social Security From AARP
5
Analysis Shows Impact of Financial Wellness Programs on Retirement Readiness
Market Mirror

Yesterday, the Dow fell 245.39 points (0.99%) to 24,442.92, the NASDAQ closed 116.92 points (1.63%) lower at 7,050.29, and the S&P 500 decreased 17.44 points (0.66%) to 2,641.25. The Russell 2000 was down 6.51 points (0.44%) at 1,477.31, and the Wilshire 5000 lost 199.07 points (0.73%) to finish at 27,228.07.

 

The price of the 10-year Treasury note was down 3/32, increasing its yield to 3.088%. The price of the 30-year Treasury bond decreased 14/32, bringing its yield up to 3.337%.

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Compliance
Retirement Plan Sponsors and Providers Given Relief by DOL Due to Hurricanes
The Department of Labor (DOL) relief relates to plan loans and distributions, remittance of contributions and blackout period notices. Read more >
From the Magazine
NYU Claims a Victory
Stephen Saxon and George Sepsakos with Groom Law Group discuss the sweeping victory for fiduciaries of several 403(b) plans sponsored by New York University (NYU) in a class action lawsuit brought by participants. Sacerdote et al. v. New York University is part of a spate of cases brought against renowned higher learning institutions, alleging that excessive recordkeeping and investment fees were charged and underperforming investment options were offered by the plans. While a number of such cases have settled or been dismissed, this was the first to proceed to trial. Read more >
Small Talk

ON THIS DATE: In 1735, John Adams, the second president of the United States, was born in Braintree, Massachusetts. In 1831, escaped slave Nat Turner was apprehended in Southampton County, VA, several weeks after leading the bloodiest slave uprising in American history. In 1875, the constitution of Missouri was ratified by popular vote. In 1938, Orson Welles’ “The War of the Worlds” aired on CBS radio. The belief that the realistic radio dramatization was a live news event about a Martian invasion caused panic among listeners. In 1953, General George C. Marshall was awarded the Nobel Peace Prize. In 1989, Mitsubishi Estate Company announced it would buy 51 percent of Rockefeller Group Inc. of New York. In 2001, in New York City, U.S. President George W. Bush threw out the first pitch at Game 3 of the World Series between the New York Yankees and the Arizona Diamondbacks. In 2001, Michael Jordan returned to the NBA with the Washington Wizards after a 3 1/2 year retirement.

TRIVIAL PURSUITS: From where did the Buffalo Bills get its name? 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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