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| Products, Deals and People | |
| Retirement Industry People Moves | |
| ASPPA welcomes new president; John Hancock names Taft-Hartley director; and T. Rowe Price expands mega market sales team.Read more > | |
| Economic Events | |
| THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about construction spending in September. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about factory orders for September. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for October. | |
| Market Mirror | |
Friday, the Dow was down 8.49 points (0.05%) at 18,161.19, the NASDAQ fell 25.87 points (0.50%) to 5,190.10, and the S&P 500 lost 6.63 points (0.31%) to finish at 2,126.41. The Russell 2000 decreased 2.33 points (0.20%) to 1,187.61, and the Wilshire 5000 closed 63.04 points (0.29%) lower at 22,059.65. On the NYSE, 3.1 billion shares traded, with 3 declining issues for every 2 advancing issues. On the NASDAQ, 2.8 billion shares changed hands, with a 1.4 to 1 ratio of decliners to advancers. The price of the 10-year Treasury note was up 2/32, decreasing its yield to 1.845%. The price of the 30-year Treasury bond was down 4/32, increasing its yield to 2.619%. WEEK’S WORTH: For the week ending October 31, the Dow was up 0.09%, the NASDAQ lost 1.28%, and the S&P 500 decreased 0.69%. The Russell 2000 fell 2.50%, and the Wilshire 5000 finished 0.92% lower. | |
| Compliance | |
| 2017 Contribution/Benefits Limits Table | |
| PLANSPONSOR has posted a chart of key contribution/benefits limits for 2017 that includes a link to download a PDF of the data.Read more > | |
| More Relief for Plan Sponsors Affected by Hurricane Matthew | |
| The Department of Labor (DOL) has added to the compliance relief already provided by the Internal Revenue Service (IRS) for retirement plan sponsors affected by Hurricane Matthew. Among other things, it relaxed rules for submitting contributions and loan repayments and for issuing blackout notices.Read more > | |
| Investing | |
| Investors Fear Election Result Will Hurt Retirement Savings | |
| Nearly six in 10 Americans expect the markets to become more volatile following the results of the presidential election, a survey found.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1517, Martin Luther posted the 95 Theses on the door of the Wittenberg Palace Church. The event marked the start of the Protestant Reformation in Germany. In 1864, Nevada became the 36th state to join the U.S. In 1926, magician Harry Houdini died of gangrene and peritonitis resulting from a ruptured appendix. His appendix had been damaged twelve days earlier when he had been punched in the stomach by a student. During a lecture Houdini had commented on the strength of his stomach muscles and their ability to withstand hard blows. In 1941, Mount Rushmore was declared complete after 14 years of work. At the time the 60-foot busts of U.S. Presidents George Washington, Thomas Jefferson, Theodore Roosevelt and Abraham Lincoln were finished. In 1952, the U.S. detonated its first hydrogen bomb. In 1968, U.S. President Lyndon B. Johnson ordered a halt to all U.S. bombing of North Vietnam. In 1969, Wal-Mart Discount City stores were incorporated as Wal-Mart Stores, Inc. In 2001, Microsoft and the U.S. Justice Department reached a tentative agreement to settle the antitrust case against the software company. | |
| SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Does your workplace celebrate Halloween, and will you be dressing in a Halloween costume for work?” I also asked them to share the best costumes they’ve worn or seen. Nearly four in ten responding readers (38.3%) said their company celebrates by workers dressing in costume, while 31.9% reported their company celebrates by workers bringing in food or having a little party. Nearly three in 10 (29.8%) said their company offers a prize for the best Halloween costume. Nearly 28% indicated their company does not celebrate Halloween. Among the 31.9% who chose “other,” several reported their companies do pumpkin decorating or a pumpkin decorating contest, quite a few offer a party or trick-or-treating for employees’ children and a few offer prizes for best cubicle decorations. One reader noted that his or her company has a chili cookoff. Asked whether they will be dressing in a Halloween costume for work today, 18.7% said yes, and 81.3% said no. In comments about workplace Halloween celebrations, most agreed it was something fun or a morale booster, but there were a few that said they were distracting and hurtful to productivity. Others noted that some workers come into the workplace with inappropriate costumes. Editor’s Choice goes to the reader who said, “We won’t be wearing costumes, but we’ll be dressed as exhausted financial services workers anyway!” Thank you to everyone who participated in the survey!Read more > | |
| Share the good news with a friend! Pass the NewsDash 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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