Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 1st, 2017
Benefits & Administration
DC Investors Stayed the Course in Q1 2017
Nearly all active defined contribution (DC) plan participants continued investing in their accounts during the first quarter of 2017, according to recordkeeping data gathered by the Investment Company Institute (ICI). The ICI analysis finds only 1.1% of DC plan participants stopped contributing during this period. Moreover, asset-allocation shifts and withdrawal activity remained low during this time frame. According to the ICI, 4.6% of DC plan participants changed the asset allocation of their account balances, and 3.8% changed the asset allocation of their contributions. Read more >
Creating a Better Open Enrollment Experience
A recent survey revealed issues employees have with open enrollment season, including material too difficult to understand and not enough time to make benefits decisions. In a webcast, Mercer discussed ways to make the open enrollment period better for employees and employers alike. Read more >
ICI Shares Facts About 401(k)s
At the end of the first quarter of 2017, Americans held $7.3 trillion in defined contribution (DC) plans, accounting for 28% of the $26.1 trillion in retirement assets, according to a report from the Investment Company Institute (ICI), “Ten Important Facts About 401(k) Plans.” The report contains more information about participant views and plan design trends. Read more >
Products, Deals and People
Investment Products and Service Launches
Reliance Trust Company Partners with Northern Trust and Wilshire Launches ESG Intermediate Credit Index. Read more >
MOST READ ARTICLES
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Adidas Sued Over Excessive Fees for 401(k) Participants
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Yale Sued Over Wellness Program ‘Penalty’
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Employees in Two States Miss Out on One HSA Benefit
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Some Help for Women’s Retirement Savings Gap May Be Coming
Economic Events

In the week ending August 26, the advance figure for seasonally adjusted initial claims for unemployment insurance was 236,000, an increase of 1,000 from the previous week’s revised level of 235,000, the Labor Department reported. The four-week moving average was 236,750, a decrease of 1,250 from the previous week’s revised average of 238,000.

 

The average interest rate on a 30-year fixed-rate mortgage is 3.82%, down from 3.86% one week ago, according to Freddie Mac. The average interest rate on a 15-year fixed-rate mortgage is 3.12%, down from 3.16%.

Market Mirror

Thursday, the Dow closed 55.67 points (0.25%) higher at 21,948.10, the NASDAQ gained 60.35 points (0.95%) to finish at 6,428.66, and the S&P 500 was up 14.02 points (0.57%) at 2,471.61. The Russell 2000 increased 13.95 points (1.00%) to 1,405.27, and the Wilshire 5000 climbed 161.15 points (0.63%) to 25,657.96.

 

The price of the 10-year Treasury note was up 4/32, decreasing its yield to 2.121%. The price of the 30-year Treasury bond increased 9/32, bringing its yield down to 2.727%.

Compliance
Regulators Provide Relief for Hurricane Harvey Victims
The IRS is loosening hardship withdrawal and loan rules, and the DOL announced postponed deadlines for Form 5500 filing, among other things. Read more >
Small Talk

ON THIS DATE: In 1799, the Bank of Manhattan Company opened in New York City. It was the forerunner of Chase Manhattan. In 1807, former U.S. Vice President Aaron Burr was found innocent of treason. In 1859, the Pullman sleeping car was placed into service. In 1878, Emma M. Nutt became the first female telephone operator in the U.S. The company was the Telephone Dispatch Company of Boston. In 1939, World War II began when Germany invaded Poland. In 1942, a federal judge in Sacramento, California, upheld the wartime detention of Japanese-Americans as well as Japanese nationals. In 1945, the U.S. received official word of Japan’s formal surrender that ended World War II. In Japan, it was actually September 2. In 1970, the last episode of “I Dream of Jeannie” aired on NBC-TV. In 1972, America’s Bobby Fischer beat Russia’s Boris Spassky to become world chess champion. In 1979, the U.S. Pioneer 11 became the first spacecraft to visit Saturn. In 1985, the Titanic was found by Dr. Robert Ballard and Jean Louis Michel in a joint U.S. and French expedition. The wreck site is located 963 miles northeast of New York and 453 miles southeast of the Newfoundland coast.

 

 

FRIDAY FILES: Will return next week.

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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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