Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 5th, 2018
Webinar Event
Join us October 17 for a webinar in which you’ll gain firsthand knowledge of 401(k) participant sentiments from Schwab Retirement Plan Services, Inc.Read more >
Benefits & Administration
Health Care Costs Will Take a Big Chunk Out of Retirement Savings
HealthView Services estimates total lifetime retirement health care expenses for an average healthy 65-year-old couple, who live to their actuarial longevity, retiring this year are projected to be $363,946 in today’s dollars. Retirees need to plan for health care costs increasing significantly during retirement. Although the 66-year-old couple will require 35% of their Social Security benefit at retirement for premiums, copays, and out-of-pocket costs, at age 85 these expenses will in dollar terms be 158% higher, and amount to 56% of their future projected Social Security benefits.Read more >
Four in Ten Millennials Waiting to Save for Retirement
Nearly four in 10 young adults, those between the ages of 22 and 35, think saving for retirement can wait, according to a survey by Navient. Instead, they are prioritizing short-term goals, such as home ownership, saving for vacation, paying down debt or building an emergency fund. Thirty-six percent of young adults who are both paying off debt and saving for retirement but who have made paying off debt their No. 1 priority feel “very good” about their financial health, whereas this is only true for 23% of those who have made saving for retirement their No. 1 priority.Read more >
2022 Recordkeeping Survey
Defined Benefit Plans May Have New Life
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
Products, Deals and People
Investment Product and Service Launches
Natixis Adds Strategies to Sustainable Future Funds; GSAM Offers Fourth Fixed Income ETF; PGIM Launches Second Actively Managed ETF; and more.Read more >
Economic Events

New orders for manufactured durable goods in August increased $11.1 billion or 4.5% to $259.6 billion, the U.S. Census Bureau announced. This increase, up two of the last three months, followed a 1.2% July decrease. Excluding transportation, new orders increased 0.1%. Excluding defense, new orders increased 2.6%. Transportation equipment, also up two of the last three months, led the increase, $10.9 billion or 13.0% to $95.3 billion.

In the week ending September 29, the advance figure for seasonally adjusted initial claims for unemployment insurance was 207,000, a decrease of 8,000 from the previous week’s revised level of 215,000, the Labor Department reported. The four-week moving average was 207,000, an increase of 500 from the previous week’s revised average of 206,500.

The average interest rate for a 30-year fixed-rate mortgage is 4.71%, down slightly from 4.72% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 4.15%, down from 4.16%.

Sponsored message from J.P. Morgan
Help your employees understand their Social Security benefits.

Invite your employees to a live event with J.P. Morgan’s Sharon Carson, retirement strategist, and Tana Seward, relationship manager, to help understand the top things they should know about their Social Security benefits.Read more >
Market Mirror

Thursday, the Dow decreased 200.91 points (0.75%) to 26,627.48, the NASDAQ fell 145.57 points (1.81%) to 7,879.51, and the S&P 500 closed 23.90 points (0.82%) lower at 2,901.61. The Russell 2000 lost 24.38 points (1.46%) to finish at 1,646.91, and the Wilshire 5000 was down 289.21 points (0.95%) at 30,005.70.

The yield for the 10-year Treasury note was 3.186%, and the yield for the 30-year Treasury bond was 3.344%.

Court Pares Down 401(k) Self-Dealing Suit Against Neuberger Berman
Leaving only the prohibited transaction claim to move forward, a federal judge found most defendants were not fiduciaries with respect to the claim and dismissed all but the plan’s investment committee as defendants.Read more >
Reliance Trust Settles DOL Lawsuit Over ESOP Valuation
The lawsuit alleged that employee stock ownership plan participants overpaid for company stock.Read more >
Company That Acquired DST Systems Sued Over Profit Sharing Plan Investment
As in a previous lawsuit, the complaint questions the fiduciary prudence of investing profit sharing plan assets in the Sequoia Fund, distributed and advised by Ruane, Cunniff & Goldfarb & Co.Read more >
Small Talk

ON THIS DATE: In 1813, Chief Tecumseh of the Shawnee Indians was killed at the Battle of Thames when American forced defeated the British and the allied Indian warriors. In 1921, the World Series was broadcast on the radio for the first time. The game was between the New York Giants and the New York Yankees. In 1930, Laura Ingalls became the first woman to make a transcontinental airplane flight. In 1947, President Harry S. Truman held the first televised presidential address from the White House. The subject was the current international food crisis. In 1969, “Monty Python’s Flying Circus” debuted on BBC television. In 1974, American David Kunst completed the first journey around the world on foot. It took four years and 21 pairs of shoes. He crossed four continents and walked 14,450 miles. In 1989, the Dalai Lama (Lhama Dhondrub, Tenzin Gyatso) was named the winner of the Nobel Peace Prize for his nonviolent campaign to end the Chinese domination of Tibet. Gyatso was the 15th Dalai Lama.

And now it’s time for FRIDAY FILES!

When daddy does her hair.Read more >
Funny birthday videos.Read more >
In Chantilly, France, a racehorse broke free of her handler last week and charged into a sports-betting bar about a mile away, Reuters reports. The horse bucked from one end of the bar to the other, as patrons fled. The horse’s trainer explained to newspaper Ouest-France that he lost control of the animal — which has a “penchant for escape” — as she was being escorted from the stables to the racetrack. The horse was eventually captured, and neither it nor any of the bar customers suffered injuries, according to The Independent.Read more >

In Los Angeles, California, a 28-year-old was driving a motorized scooter on a sidewalk and knocked down a 64-year-old pedestrian who was leaving a theater. The scooter driver continued on, but was caught and found to have a blood alc.ohol more than three times the legal limit. According to the Associated Press, the City Attorney’s Office said this was the first motorized scooter driving under the influence legal case with a charge in Los Angeles.

In Acworth, Georgia, the sheriff’s office had been contacted about someone stealing from vehicles in a certain neighborhood. A deputy was searching the area and found the thief asleep in a residence car. The man had stolen credit cards and IDs from eight cars.

In Norwich, Connecticut, a family’s beloved dog went missing five years ago. However, The Norwich Bulletin reports that a Norwich assistant animal control officer spotted the 17-year-old female dachshund last Thursday in a parking lot in a city park. Via a microchip, the dog’s owners were identified and it was reunited with the family.

Have a wonderful weekend, everyone!

Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more >

Editorial: Alison Cooke Mintzer


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