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| Products, Deals and People | |
| Pentegra, ADP Partner to Provide 3(16) Services to Plan Sponsors | |
| The solution will provide ADP 401(k) clients with the ability to outsource key retirement plan administrative duties. Read more > | |
| Sponsored message from J. P. Morgan Asset Management | |
| You Can Help More People Cross the Retirement Finish Line | |
| Two decades of research and the behavioral data of millions of participants fuels J.P. Morgan’s investment decisions. Get the facts. Read more > | |
| Economic Events | |
The Producer Price Index for final demand decreased 0.3% in September, as prices for final demand services declined 0.2%, and the index for final demand goods dropped 0.4%, according to the Bureau of Labor Statistics. The final demand index advanced 1.4% for the 12 months ended in September. | |
| Market Mirror | |
Tuesday, the Dow lost 313.98 points (1.19%) to finish at 26,164.04, the NASDAQ closed 132.52 points (1.67%) lower at 7,823.78, and the S&P 500 decreased 45.73 points (1.56%) to 2,93.06. The Russell 2000 was down 25.19 points (1.68%) at 1,472.60, and the Wilshire 5000 fell 471.51 points (1.57%) to 29,504.99. The prices of the 10-year Treasury note and 30-year Treasury bond were each up 3/32, decreasing their yields to 1.535% and 2.037%, respectively. | |
| Compliance | |
| CareerBuilder Sued Over Excessive Fees for 401(k) | |
| The complaint strongly points to revenue sharing payments between the plan and its recordkeepers and investment adviser, and says the plaintiff expects more excess to be revealed in the discovery process. Read more > | |
| District Court Permits Trial for Parts of SunTrust ERISA Challenge | |
| The defendants’ motion for summary judgment has been granted in part and denied in part, meaning parts of the long-running case may proceed to trial. Read more > | |
| Ask the Experts | |
| Difference Between Plan Distribution Withholding and Actual Taxes Paid | |
| “What is the difference between the 20% withholding for most retirement plan distributions (i.e., eligible rollover distributions) and the actual taxes paid? My 403(b) plan participants (current and former) who take distributions seem to be thoroughly confused on this issue.” Read more > | |
| Sponsored message from Pavilion, a Mercer Practice | |
| Investment Beliefs | |
| Governance bedrock for investment committees. Read more > | |
| Small Talk | |
| Children’s Allowance Increasing Faster than American Wages | |
| While Americans say the most important purpose of providing an allowance to children is to teach them about the value of money and financial responsibility, a survey found allowance money is rarely saved. Read more > | |
ON THIS DATE: In 1635, Roger Williams, founder of Rhode Island, was banished from Massachusetts because he had spoken out against punishments for religious offenses and giving away land that belonged to the Indians. Williams had founded Providence, Rhode Island, as a place for people to seek religious freedom. In 1701, the Collegiate School of Connecticut was chartered in New Haven. The name was later changed to Yale. In 1781, the last major battle of the American Revolutionary War took place in Yorktown, Virginia. The American forces, led by George Washington, defeated the British troops under Lord Cornwallis. In 1855, Isaac Singer patented the sewing machine motor. In 1858, mail service via stagecoach between San Francisco and St. Louis, Missouri, began. In 1872, Aaron Montgomery started his mail order business with the delivery of the first mail order catalog. The firm later became Montgomery Ward. In 1888, the public was admitted to the Washington Monument for the first time. In 1930, aviator Laura Ingalls landed in Glendale, California, to complete the first solo transcontinental flight across the U.S. by a woman. In 1975, Andrei Sakharov was awarded the Nobel Peace Prize. The Soviet scientist is known as the “father of the hydrogen bomb.” In 1994, the U.S. sent troops and warships to the Persian Gulf in response to Saddam Hussein sending thousands of troops and hundreds of tanks toward the Kuwaiti border. WEDNESDAY WISDOM: “If you don’t think every day is a good day, just try missing one.”—Cavett Robert, considered by many to be the founder of the modern professional speaking industry | |
| 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 > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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