| Benefits & Administration | Health Care in Retirement Will Cost How Much? | According to Fidelity’s Retirement Health Care
Cost Estimate study, a healthy couple retiring this year at age 65 should
expect to spend $245,000 on health care throughout retirement, up from $220,000
last year. The figure has increased 29% since 2005, Fidelity says, when the
projection was a cool $190,000. Fidelity’s report looks into the factors that
have boosted the estimate.Read more > | U.S. pension plan deficits rose by $102 billion
in the third quarter, a shift from the previous quarter that saw the
deficit decline by $81 billion, according to the Aon Hewitt Pension Risk
Tracker. Data from the Pension Risk Tracker, which evaluates daily funded
status for Standard & Poor’s (S&P) 500 companies with defined benefit
(DB) pension plans, shows the aggregate funded ratio decreased, from 83.5% to
78.7%. The change was largely driven by asset reductions of $79 billion, along
with liability increases of $23 billion year to date.Read more > |
|
|
|
| The aggregate funded ratio for U.S. corporate
pension plans decreased, to 81.3%, for the month of September, according to
Wilshire Consulting, the institutional investment advisory and outsourced-CIO
business unit of Wilshire Associates Incorporated.Read more > | | Products, Deals & People | Retirement Planning Added to Benefits Engagement Solution | Navera Inc., a provider of cloud-based benefits
engagement solutions, introduced a retirement plan module that provides
employees with a personally relevant experience to help them make smart
financial decisions regarding their 40l(k) or 403(b) options. Key features of
Navera’s solutions include 24/7 online access and interactive, self-paced
401(k) and 403(b) education, to meet the demands of today’s internet-savvy
employees, among other features.Read more > | | Sponsored message from Morningstar | Download Whitepaper: How Can You Help Your Employees Retire? You’ve seen the headlines. Retirement is in trouble. The move from DB to DC has shifted the burden of retirement planning on to employees-a task that few are equipped to take on. How can employers help?Read more > | | Market Mirror | Stocks posted
solid gains Wednesday, helped by advances in health-care and industrial
companies, according to the Associated Press. The Dow climbed 122.10 points
(0.73%) to 16,912.29, the NASDAQ rose 42.79 points (0.90%) to 4,791.15, and the
S&P 500 bumped up 15.91 points (0.80%) to 1,995.83. The Russell 2000
increased 18.91 points (1.67%) to 1,152.60, and the Wilshire 5000 climbed
191.58 (0.92%) to finish at 20,954.71.
On the NYSE,
3.2 billion shares traded, with a 3:1 lead for advancing issues. On the NASDAQ,
2.8 billion shares changed hands, with 2.6 advancers for every declining issue.
The price of the 10-year Treasury note dropped 9/32,
increasing its yield to 2.065%. The price of the 30-year Treasury bond fell 14/32,
bringing its yield up to 2.894%.
| | Compliance | Enforcement, Pre-Approved Plans Among IRS 2016 Priorities | In an announcement about the Internal Revenue
Service (IRS) Tax Exempt and Government Entities (TE/GE) Division priorities,
the IRS says it anticipates starting several new compliance check projects in
fiscal year 2016. The Employee Plans (EP) unit will focus resources into
specialty program casework, which the IRS says have a historical pattern of
non-compliance and also allow for greater coverage of the retirement plan
participant universe.Read more > | | From the Magazine | Review of Recordkeeping Fee Structures | Retirement plan fees are a hot button issue for
plan sponsors. As a fiduciary, one must ensure that all plan costs are
reasonable and necessary, but while monitoring expenses is a necessary
fiduciary duty, once an appropriate recordkeeping fee has been agreed upon, how
should it be paid?Read more > | | Small Talk | ON THIS DATE: In 1919, the
first transcontinental air race in the United States began. In 1944, “The Adventures of Ozzie and
Harriet” debuted on CBS radio. In 1945, U.S. President Truman announced that only Britain
and Canada would be given the secret to the atomic bomb. In 1950, U.N. forces crossed into North
Korea from South Korea. In 1956,
Donald James Larsen (New York Yankees) pitched the first perfect game in the
history of the World Series. In 2001,
two Russian cosmonauts made the first spacewalk to be conducted outside of the
international space station without a shuttle present. In 2003, Siegfried Fischbacher and his
manager announced that the “Siegfried and Roy” show at the Mirage was
canceled permanently. It was also said that if Roy Horn survived, after a tiger
attack on October 3, the duo would continue to work together. | SURVEY SAYS: I’ve
seen many announcements lately of companies winning “Best Places to Work”
awards. This week, I’d like to know. Is your company a “best place” to work,
and if so, what factors make it so? You may respond to this week’s survey,
anonymously, of course, by 6 p.m. Pacific time today.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 > |
|