Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 8th, 2018

2019 Awards Nominations Are Open

The nomination process has begun for the 2019 Plan Sponsor of the Year and Retirement Plan Adviser of the Year Awards. The deadline for the 2019 Plan Adviser and Adviser Team of the Year award nominations is October 19. Read more >
Benefits & Administration
Millennials Need More Investing Confidence
Millennials are uncertain about making investing decisions and show little interest in robo advisers, despite having come of age in a digital world. In fact, they prefer working face to face with a financial professional, according to a research report, “Uncertain Futures: Seven Myths About Millennials and Investing,” from the CFA Institute, in partnership with the FINRA Investor Education Foundation. Only 21% of non-investing Millennials and Millennials with only retirement accounts are very or extremely confident about making investment decisions. Read more >
Employees Struggle With Allocating Money to HSAs and Retirement Plans
Eighty-two percent of employees see medical costs as their biggest challenge now and in the future, according to the Willis Towers Watson 2018 Health Accounts Employee Attitudes Survey. Yet only 25% rank contributing to a health savings account (HSA) as a top current financial priority. Roughly one-quarter of employees who didn’t enroll in an HSA say they don’t have enough money to contribute to one at this time. Even financially adept employees have trouble deciding where to save and how to spend. Read more >
Products, Deals and People
NAGDCA Provides Free Communications for National Retirement Security Week
NAGDCA’s “Your Whole Story” campaign and new Retirement Garden Edition video series apply “behaviorally effective” communication techniques to engage participants in becoming aware of their role in preparing for retirement. National Retirement Security Week is October 21 through October 27 this year. Read more >
MOST READ ARTICLES
1
Adidas Sued Over Excessive Fees for 401(k) Participants
2
(b)lines Ask the Experts – Proper Delivery Method for SPDs
3
Yale Sued Over Wellness Program ‘Penalty’
4
Employees in Two States Miss Out on One HSA Benefit
5
Some Help for Women’s Retirement Savings Gap May Be Coming
Retirement Industry People Moves
Aviva Investors Appoints Head of U.S. Equities; Past Wholesaler Forms Retirement Plan Consulting Firm; Alternatives Business Expert Joins Franklin Templeton; and more. Read more >
Economic Events

The unemployment rate declined to 3.7% in September, and total nonfarm payroll employment increased by 134,000, the Bureau of Labor Statistics (BLS) reported. Job gains occurred in professional and business services, in health care, and in transportation and warehousing.

 

THE ECONOMIC WEEK AHEAD: Wednesday, the BLS will reveal the producer price index for September, and the Census Bureau will report about wholesale trade for August. Thursday, the BLS will reveal the consumer price index for September, and the Labor Department will issue its initial claims report.

Sponsored message from Schwab Retirement Plan Services, Inc.
Nathan Voris discusses Strategic Insights Into the Millennial Workforce. Read more >
Market Mirror

Friday, the Dow lost 180.43 points (0.68%) to finish at 26,447.05, the NASDAQ closed 91.06 points (1.16%) lower at 7,788.45, and the S&P 500 decreased 16.04 points (0.55%) to 2,885.57. The Russell 2000 was down 14.80 points (0.90%) at 1,632.11, and the Wilshire 5000 fell 182.68 points (0.61%) to 29,823.03.

 

The price of the 10-year Treasury note decreased 12/32, bringing its yield up to 3.232%. The price of the 30-year Treasury bond fell 1 2/32, increasing its yield to 3.407%.

 

WEEK’S WORTH: For the week ending October 5, the Dow was down 0.04%, the NASDAQ lost 3.21%, and the S&P 500 decreased 0.97%. The Russell 2000 fell 3.80%, and the Wilshire 5000 finished 1.44% lower.

Compliance
HSA Conference 2018: Regulatory and Legislative Update
This year, Congress is actively taking up legislation that would expand the use and benefits of health savings accounts (HSAs). Read more >
PLANSPONSOR Research
2018 Participant Survey
To gain insight into the drivers behind participant retirement plan decisions, the PLANSPONSOR Participant Survey, now in its fifth year, delves into participant behaviors and preferences to see how attitudes have evolved. Plan sponsors received a few affirmations in the results: Defined contribution (DC) plans continue to be viewed as a major benefit. Fifty-nine percent of respondents would rather work for a company that has a DC plan but pays 10% less than for a company that does not have a DC plan but pays 10% more. The survey also found participants process information differently. Read more >
Small Talk

ON THIS DATE: In 1918, U.S. Corporal Alvin C. York almost single-handedly killed 25 German soldiers and captured 132 in the Argonne Forest in France. York had originally tried to avoid being drafted as a conscientious objector. After this event his was promoted to sergeant and was awarded the Congressional Medal of Honor. In 1944, “The Adventures of Ozzie and Harriet” debuted on CBS radio. In 1945, President Harry 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 1952, “The Complete Book of Etiquette” was published for the first time. In 1993, the U.S. government issued a report absolving the FBI of any wrongdoing in its final assault in Waco, Texas, on the Branch Davidian compound. The fire that ended the siege killed as many as 85 people. In 1998, Canada and Netherlands were voted into the U.N. Security Council. In 2001, Tom Ridge, former Governor of Pennsylvania, was sworn in as director of the new U.S. department of Homeland Security. In 2003, Vietnam and the United States reached a tentative agreement that would allow the first commercial flights between the two countries since the end of the Vietnam War.

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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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