Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 13th, 2016
Benefits & Administration
Boomers are saving twice as much for retirement as Millennials, with a median of $300 vs. $150 per month and despite the fact that Millennials are saving for other things, more than two-thirds (72%) have already started saving for retirement.Read more >
ACA Making Small Business Owners Consider Retirement Benefits
A survey conducted by Harris Poll on behalf of Nationwide, an insurance and financial services organization, found that because of the enactment of the Affordable Care Act (ACA), small business owners are increasingly reconsidering retirement plans in order to retain and recruit employees.Read more >
Facts About 401(k)s
More than one-third of 401(k) plan participants are younger than age 40, most receive plan contributions from their employers, and equities figure prominently in 401(k) plans, says a new report.Read more >
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Products, Deals and People
Government DC Plan Benchmarking Report Released
A new benchmarking report entitled Perspectives in Practice “A Benchmarking Initiative for Public Sector Defined Contribution Plans” has been published by The National Association of Government Defined Contribution Administrators, Inc. (NAGDCA). The report presents a detailed analysis of key operating data from the government defined contribution (DC) industry, based on confidential surveys submitted by 62 individual plans representing $116 billion in plan assets and 2.4 million individual plan participants.Read more >
Market Mirror

On Monday, the market recovered some of Friday’s losses. The Dow gained 239.62 points (1.32%) to finish at 18,325.07, the NASDAQW closed 85.98 points (1.68%) higher at 5,211.89, and the S&P 500 increased 31.23 points (1.47%) to 2,159.04. The Russell 2000 was up 16.66 points (1.37%) at 1,235.87, and the Wilshire 5000 climbed 305.97 points (1.38%) to 22,463.50.

On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.9 billion shares traded, with advancing issues outnumbering declining issues more than 2 to 1 on both exchanges.

The price for the 10-year Treasury note was up 4/32, decreasing its yield to 1.652%. The price of the 30-year Treasury bond increased 12/32, bringing its yield down to 2.374%.
Sponsored message from Alger
Smarter Technologies, Healthier Bodies
Visionary medical expert Dr. Daniel Kraft discusses the future of medicine and its impact on our lives. View Video.Read more >
Compliance
Hospital Sued by EEOC for Age Discrimination
According to the U.S. Equal Employment Opportunity Commission (EEOC), Montrose Memorial Hospital, a hospital in Montrose, western Colorado, violated federal age discrimination law. The EEOC’s lawsuit states that Katherine Casias worked as a licensed practical nurse and registered nurse for 27 years with the hospital before Montrose fired her. Casias was accused of performance deficiencies for which younger nurses were treated much more leniently.Read more >
Bill Aims to Boost Retirement Savings and Reduce Imbalances
Senate Finance Committee Ranking Member Ron Wyden, D-Oregon, released a “discussion draft” of the Retirement Improvements and Savings Enhancements Act (RISE Act)—aimed at boosting savings while combatting what he describes as critical imbalances in retirement-related tax incentives.Read more >
Investing
J.P. Morgan lead economist David Kelly, officially the firm’s chief global market strategist and head of the global market insight strategy team, opened the 2016 PLANADVISER National Conference with an in-depth look at the last year in macroeconomics; from China uncertainty to Brexit to deep demographic shifts, there’s a lot for investors to consider on the road ahead. Kelly sees room for real optimism.Read more >
Small Talk

ON THIS DATE: In 1847, U.S. forces took the hill Chapultepec during the Mexican-American War. In 1898, Hannibal Williston Goodwin patented celluloid photographic film, which is used to make movies. In 1922, in El Azizia, Libya, the highest shade temperature was recorded at 136.4 degrees Fahrenheit. In 1935, aviator Howard Hughes, Jr., of Houston, set a new airspeed record of 352 mph with his H-1 airplane (Winged Bullet). In 1948, the School of Performing Arts opened in New York City. It was the first public school to specialize in performing arts. In 1948, Margaret Chase Smith was elected to the U.S. Senate and became the first woman to serve in both houses of the U.S. Congress. In 1949, the Ladies Professional Golf Association of America was formed. In 1970, the first New York City Marathon took place. Fireman Gary Muhrucke won the race. In 1971, the World Hockey Association was formed. In 1977, the first diesel automobiles were introduced by General Motors. In 2001, U.S. Secretary of State Colin Powell named Osama bin Laden as the prime suspect in the terror attacks on the United States on September 11. Also, limited commercial flights resumed in the U.S. for the first time in two days.

 

TRIVIAL PURSUITS: Sorry, not this week.
Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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