| Benefits & Administration | ICI Says IRAs Continue to Serve American Savers Well | Two reports from the Investment Company Institute (ICI) about individual retirement accounts (IRAs) show they remain successful vehicles for retirement savers. “Traditional IRAs are a popular option for savers who are looking to roll over a workplace retirement plan account, while Roth IRAs are often started with contributions. Both IRAs have options that appeal to workers in various stages of their lifetime savings cycle and help millions of Americans prepare for retirement,” says Sarah Holden, ICI senior director of retirement and investor research.Read more > | | Ask the Experts | Annuity General Accounts Versus Separate Accounts | “I work for a plan sponsor that maintains a 403(b) plan with annuity contracts. Apparently we have two different types of accounts; a general account and a separate account. Can the Experts explain the difference between the two? I had requested response from the annuity provider, but I cannot understand it.”Read more > | | Investing | No Above-Normal Trading in Retirement Plans in August | August had no days of above-normal trading, the second consecutive month this has occurred since a year ago May and June, according to the Alight Solutions 401(k) Index. During the month, 15 out of 23 days favored fixed-income funds, representing 65% of the trades. By comparison, eight days favored equities, representing 35% of the trades. Trading inflows favored stable value funds (32%), while trading outflows were primarily from target-date funds (TDFs) (38%).Read more > |
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| Market Mirror | Tuesday, the Dow was up 184.84 points (0.71%) at 26,246.96, the NASDAQ was up 60.32 points (0.76%) at 7,956.11, and the S&P 500 was up 15.51 points (0.54%) at 2,904.31. The Russell 2000 closed 7.42 points (0.44%) higher at 1,710.97, and the Wilshire 5000 increased 157.67 points (0.52%) to 30,226.39. The price of the 10-year Treasury note was down 18/32, increasing its yield to 3.056%. The price of the 30-year Treasury bond decreased 1 10/32, bringing its yield up to 3.201%. | | 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 | Senator Murray Reintroduces ‘Women’s Pension Protection Act’ | Senate Health, Education, Labor, and Pensions (HELP) Committee Ranking Member Patty Murray, D-Washington, has reintroduced legislation “to address some of the challenges families face as they plan for retirement,” especially women. According to Murray, the legislation would strengthen consumer protections, improve access to retirement savings plans for part-time workers, help increase women’s financial literacy, and give specific support to low-income women and survivors of domestic abuse.Read more > | Frontier Communications Stock Drop Lawsuit Alleges Imprudent Telecom Concentration | Lead plaintiff Mary Reidt is seeking class certification for similarly situated Frontier Communications 401(k) Savings Plan participants in a new Employee Retirement Income Security Act (ERISA) stock drop lawsuit filed in the U.S. District Court for the District of Connecticut. This suit alleges the defined contribution (DC) plan trust of Frontier Communications was 219-times more concentrated in Verizon stock than defendants felt was appropriate for the pension plan for which the company bore the investment risk.Read more > | | Small Talk | ON THIS DATE: In 1862, Union troops under General William Rosecrans defeated a Confederate force commanded by General Sterling Price at Iuka in northern Mississippi. In 1876, Melville R. Bissell patented the carpet sweeper. In 1881, 80 days after a failed office seeker shot him in Washington, D.C., President James A. Garfield died of complications from his wounds. In 1957, the United States detonated a 1.7 kiloton nuclear weapon in an underground tunnel at the Nevada Test Site (NTS), a 1,375 square mile research center located 65 miles north of Las Vegas. In 1970, “The Mary Tyler Moore Show” premiered on CBS-TV. In 1988, just one day after sustaining a head injury in a frightening accident, American diver Greg Louganis won gold in the springboard competition at the Summer Olympics, in Seoul, South Korea. It was his second consecutive Olympic gold in the event. In 1995, The Washington Post published a 35,000-word manifesto written by the Unabomber, who since the late 1970s had eluded authorities while carrying out a series of bombings across the United States that killed 3 people and injured another 23. WEDNESDAY WISDOM: “If you count all your assets you always show a profit.”—Wilson Mizner, American playwright | 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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