Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 12th, 2018
Benefits & Administration
Majority of Americans Do Not Feel They Have Recovered from Great Recession
Although the economy is booming and the stock market has more than quadrupled in value since the financial crisis of 2008, 65% of Americans say they have not fully recovered financially, Betterment learned in a survey. More than one in four people have stopped saving for retirement or contributing to their 401(k). Two out of every three people say they are saving less than they did in 2008. However, 29% say they are making a concerted effort to save more today than they were in 2008. Read more >
From the Magazine
Upwardly Mobile
Financial apps are proliferating because they make it easier for people to get educated and stay engaged. “Meeting the participant in that channel of choice is critical to a great experience,” says Tom Armstrong, vice president, customer analytics and insight for Voya Financial in Quincy, Massachusetts. “The fact that they are on these mobile devices for many hours a day, managing through their social media and managing through other aspects of their digital life, makes it important for us to have a presence with them and makes it easy to have us interact with them and vice versa.” Read more >
Products, Deals and People
PayFlex Launches HSA Education Resource
PayFlex has launched new web-based resource center for employers seeking to learn more about health savings accounts (HSAs) and the benefits and drawbacks of account-based health coverage. Read more >
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Economic Events

July sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $505.6 billion, virtually unchanged from the revised June level, but up 9.8% from the July 2017 level, the Census Bureau reported. The May to June percent change was revised from the preliminary estimate of down 0.1% to down 0.2%.

Market Mirror

Yesterday, the Dow closed 113.99 points (0.44%) higher at 25,971.06, the NASDAQ gained 48.31 points (0.61%) to finish at 7,972.47, and the S&P 500 was up 10.76 points (0.37%) at 2,887.89. The Russell 2000 closed 0.94 points (0.05%) higher at 1,718.40, and the Wilshire 5000 increased 112.23 points (0.37%) to 30,103.55.

 

The price of the 10-year Treasury note was down 12/32, increasing its yield to 2.979%. The price of the 30-year Treasury bond fell 25/32, bringing its yield up to 3.121%.

Sponsored message from Vanguard
How TDFs can help combat inflation
Can target-date funds (TDFs) withstand increasing inflationary pressures? We believe so, all while providing long-term growth in excess of inflation. Read more >
Compliance
Many RESA Provisions Included in ‘Tax Reform 2.0’
Republican members of the House Ways and Means Committee have introduced three bills aimed at advancing their “Tax Reform 2.0” agenda ahead of the November mid-terms, including the “Protecting Family and Small Business Tax Cuts Act of 2018,” the “Family Savings Act of 2018,” and the “American Innovation Act of 2018.” Read more >
Ask the Experts
Can Tribal Governments Sponsor 403(b)s?
“I was recently hired to work with an entity that is a Native American Tribal Government. Can it sponsor a 403(b) plan?” Read more >
Small Talk

ON THIS DATE: In 1814, during the War of 1812, the Battle of North Point was fought in Maryland. In 1873, the first practical typewriter was sold to customers. In 1918, during World War I, At the Battle of St. Mihiel, U.S. Army personnel operate tanks for the first time. The tanks were French-built. In 1944, U.S. Army troops entered Germany, near Trier, for the first time during World War II. In 1953, Nikita Krushchev was elected as the first secretary of the Communist Party of the Soviet Union. In 1954, “Lassie” made its television debut on CBS. The last show aired on September 12, 1971. In 1963, the last episode of “Leave it to Beaver” was aired. In 1974, violence occurred on the opening day of classes in Boston due to opposition to court-ordered school “busing.” In 1979, Carl Yastrzemski of the Boston Red Sox became the first American League player to get 3,000 career hits and 400 career home runs. In 1983, Arnold Schwarzenegger became a U.S. citizen. He had emigrated from Austria 14 years earlier. In 1984, Michael Jordan signed a seven-year contract to play basketball with the Chicago Bulls. In 1991, the space shuttle Discovery took off on a mission to deploy an observatory that was to study the Earth’s ozone layer. In 1992, Dr. Mae Carol Jemison became the first African-American woman in space. She was the payload specialist aboard the space shuttle Endeavor. Also onboard were Mission Specialist N. Jan Davis and Air Force Lieutenant Colonel Mark C. Lee. They were the first married couple to fly together in space. And, Mamoru Mohri became the first Japanese person to fly into space.

 

 

WEDNESDAY WISDOM: “To find out what one is fitted to do, and to secure an opportunity to do it, is the key to happiness.”—John Dewey, American philosopher, psychologist, and educational reformer

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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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