Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 6th, 2015
Webcast Event
Defined contribution (DC) plan sponsors continue to make strides in improving their plans, with the goal of enhancing outcomes for plan participants. Join Northern Trust investment experts Joe Haas and Mike Hunstad for a look at some of the latest innovations in DC plan design.Read more >
Benefits & Administration
Peace of Mind Tops Reasons for Outsourcing Payroll
New research from Paychex, a payroll provider, reveals many small-business owners choose to continue to invest in benefits outsourcing for increased “peace of mind.” Overall, 40% of survey respondents feel the biggest benefit of outsourcing payroll is the peace of mind it provides where regulatory demands are concerned. The survey reveals just how many small-business owners are administering payroll and benefits on their own.Read more >
MOST READ ARTICLES
1
2021 Target-Date Fund Survey
2
Rush of Litigation Against Retirement Plans Expected to Continue
3
The DOL Has Begun Retirement Plan Cybersecurity Audits
4
2020 Recordkeeping Survey
5
Essential Considerations for DC Plan Investment Lineups
Nearly two-thirds (62%) of Americans have less than $1,000 in their savings accounts, according to a survey by GOBankingRates.com. One in five Americans, 90 million people, don’t even have a savings account. The survey also reveals which demographic group is most likely to have nothing saved.Read more >
Teamsters Plan Asks for Benefit Reductions Under MPRA
The Teamsters Central States, Southeast and Southwest Areas Pension Fund announced a “Rescue Plan” to members that includes a request to the Department of the Treasury to allow benefit reductions. According to a letter from Susan Mauren, employee representative for the pension fund, the rescue plan distributes the burden of benefit reductions between retirees and active employees, but includes new re-employment rules for retirees and a cap for the maximum reduction. The Multiemployer Pension Reform Act of 2014 (MPRA) allows plans in “critical and declining status” to avoid insolvency by reasonably cutting benefits, including for those already in pay status.Read more >
Sponsored message from Vanguard
Retirement distribution decisions among DC participants
This Vanguard research paper discusses the implications of recent retirement distribution decisions on target-date funds and retirement income.Read more >
Products, Deals & People
CBIZ Acquires Pension Resource Group
The national professional services firm CBIZ has acquired Pension Resource Group Inc., adding to more than 100 offices across 34 states. The Woodstock, Georgia-based Pension Resource Group (PRG) provides pension administration solutions including defined benefit administration, data warehousing, benefit communication, compensation statement and human capital services to clients ranging in size from 500 to over 60,000 participants.Read more >
Market Mirror

Stocks rallied yesterday, with the Dow closing 304.06 points (1.85%) higher at 16,776.43. The NASDAQ increased 73.49 points (1.56%) to 4,781.26, and the S&P 500 was up 35.64 points (1.83%) at 1,987.00. The Russell 2000 climbed 27.50 points (2.47%) to 1,141.62, and the Wilshire 5000 gained 393.36 points (1.92%) to finish at 20,847.21.

On the NYSE, 3.2 billion shares traded, with advancing issues outnumbering declining issues more than 7 to 1. On the NASDAQ, 2.7 billion shares changed hands, with a more than 3 to 1 lead for advancers.

The price of the 10-year Treasury note decreased 18/32, bringing its yield up to 2.056%. The price of the 30-year Treasury bond fell 1 14/32, increasing its yield to 2.898%.

Compliance
Credit Suisse Can Continue Managing Retirement Plan Assets
The Department of Labor’s Employee Benefits Security Administration (EBSA) has granted a prohibited transaction exemption to Switzerland-based Credit Suisse, allowing it to keep its status as a qualified professional asset manager (QPAM). The bank had applied for the exemption in 2014, after pleading guilty to criminal charges that it facilitated tax evasion by helping U.S. clients avoid paying taxes to the Internal Revenue Service.Read more >
PPA Surcharges Not Included in Withdrawal Liability
A federal court has weighed in on what “the highest contribution rate” means in the calculation of a multiemployer plan member’s withdrawal liability.Read more >
Small Talk

ON THIS DATE: In 1683, the first Mennonites arrived in America aboard the Concord. The German and Dutch families settled in an area that is now a neighborhood in Philadelphia, Pennsylvania. In 1889, the Kinescope was exhibited by Thomas Edison. He had patented the moving picture machine in 1887. In 1961, U.S. president John F. Kennedy advised American families to build or buy bomb shelters to protect themselves in the event of a nuclear exchange with the Soviet Union. In 1979, Pope John Paul II became the first pontiff to visit the White House. In 1992, Ross Perot appeared in his first paid broadcast on CBS-TV after entering the U.S. presidential race.

 

TUESDAY TRIVIA: When stating the time, a.m. stands for “ante meridiem,” which is Latin for “before midday;” p.m. stands for “post meridiem,” which is Latin for “after midday.”

TRIVIAL PURSUITS: When the clock strikes noon, many of us say it is 12 o’clock, just as we do when the clock strikes the top of any hour. Why do we say “o’clock” at the top of the hour?Read more >
Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more >

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

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