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With the benefits open enrollment season nearing, HR360 has recently launched the “2016 Open Enrollment Benefits Notices Templates,” and the “Open Enrollment Benefits Summary Template,” two customizable tools that guarantee employees will receive their benefits notices in a timely matter.Read more > |
ICMA-RC recently updated its mobile application to offer two new components—a virtual reality tour and an animation feature.Read more > |
Retirement Industry People Moves |
VALIC expands leadership team; Wagner and McDermott hire new attorneys, and more.Read more > |
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Sponsored message from SEI |
A Changing Landscape Requires a New Approach: DC Discretion Sponsors consider discretionary investment management. Why the shift?Read more > |
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Economic Events |
On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in August after being unchanged in July, the Bureau of Labor Statistics reports. The index for all items less food and energy rose 0.3% in August after increasing 0.1% in July.
Real average hourly earnings decreased 0.1% in August, seasonally adjusted. Average hourly earnings increased 0.1% and the CPI-U increased 0.2%. Real average weekly earnings decreased 0.4% over the month.
THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about housing starts in August. Thursday, the Labor Department will issue its initial claims report, and the National Association of Realtors will report about existing home sales for August. |
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Market Mirror |
Friday, the Dow fell 88.68 points (0.49%) to 18,123.80, the NASDAQ decreased 5.12 points (0.10%) to 5,244.57, and the S&P 500 closed 8.10 points (0.38%) lower at 2,139.16. The Russell 2000 was down 2.24 points (0.18%) at 1,224.78, and the Wilshire 5000 lost 80.61 points (0.36%) to finish at 22,240.52.
On the NYSE, 3.1 billion shares changed hands, with declining issues outnumbering advancing issues nearly 2 to 1. On the NASDAQ, 2.9 billion shares traded, with a slight lead for decliners.
The price of the 10-year Treasury note was up 2/32, decreasing its yield to 1.687%. The price of the 30-year Treasury bond increased 21/32, bringing its yield down to 2.435%.
WEEK’S WORTH: For the week ending September 16, the Dow was up 0.21%, the NASDAQ climbed 2.31%, and the S&P 500 gained 0.53%. The Russell 2000 finished 0.46% higher, and the Wilshire 5000 increased 0.37%. |
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Compliance |
Participant Files Suit Over Advisory Fee Breakdown |
A retirement plan participant accuses a well-known plan provider of delivering “no material services” in connection with certain advisory fees.Read more > |
What the Election Outcome Could Mean for Employee Benefits |
Bruce Ashton, partner at Drinker, Biddle and Reath LLP, shared his thoughts at the 2016 PLANADVISER National Conference about what the outcome of the presidential election could mean for the employee benefits industry.Read more > |
Northrop Grumman Faces Lawsuit Alleging Self-Dealing |
The complaint cites portions of key Northrop Grumman plan documents, challenging the process by which the company assembled and monitored both the administrative and investment committees.Read more > |
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From the Magazine |
Insights: A Bad Juxtaposition |
The recent law suits against 403(b) plans seem to argue that they should be mirrors of 401(k) plans—but anyone who works with 403(b)s knows that is not the case.Read more > |
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Small Talk |
ON THIS DATE: In 1777, the Battle of Saratoga was won by American soldiers during the Revolutionary War. In 1876, Melville R. Bissell patented the carpet sweeper. In 1942, the first advertisement to announce Little Golden Books appeared in Publishers Weekly. In 1957, the U.S. conducted its first underground nuclear test. The test took place in the Nevada desert. In 1970, “The Mary Tyler Moore Show” premiered on CBS-TV. In 1995, the U.S. Senate passed a welfare overhaul bill. |
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 > |