Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 21st, 2016
Benefits & Administration
Northern Trust Recommends Pairing Auto Enrollment With Escalation
Looking at improvements to retirement plans in the decade since the passing of the Pension Protection Act (PPA), Northern Trust Asset Management says they have been strengthened—but that people are still falling far short of being adequately prepared for retirement. The firm interviewed 1,000 defined contribution (DC) plan participants and 100 DC plan sponsors, along with a diverse range of industry experts, and has come up with three ways retirement plans could be better positioned.Read more >
Student Loan Debt Has Minimal Impact on Retirement Savings
Even though Americans are looking at record high student loan debt, graduates may be compensating through means other than cutting retirement saving, according to new research.Read more >
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Ask the Experts
Will Deferral Limits Rise for 2017?
“I’ve already read some estimates that the current 402(g) limit on retirement plan elective deferrals will rise $500 in 2017, to $18,500, while the age-50 catch-up will remain unchanged at $6,000. Is this accurate?”Read more >
Economic Events
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,142,000. This is 5.8% below the revised July estimate of 1,212,000, but is 0.9% above the August 2015 rate of 1,132,000. Single-family housing starts in August were at a rate of 722,000; this is 6.0% below the revised July figure of 768,000. The August rate for units in buildings with five units or more was 403,000.
Market Mirror
Tuesday, the Dow closed 9.79 points (0.05%) higher at 18,129.96, the NASDAQ was up 6.33 points (0.12%) at 5,241.35, and the S&P 500 increased by 0.64 (0.03%) to 2,139.76. The Russell 2000 was down 4.20 points (0.34%) at 1,228.32, and the Wilshire 5000 gained 40.74 points (0.18%) to finish at 22,253.38.

On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.9 billion shares traded, with a slight lead for decliners on both exchanges.

The price of the 10-year Treasury note was up 6/32, decreasing its yield to 1.690%. The price of the 30-year Treasury bond increased 15/32, bringing its yield down to 2.433%.

Compliance
Congressional Gridlock Clouds Retirement Reform
A new DCIO Insights report from Neuberger Berman argues the current system of workplace defined contribution (DC) savings via payroll deductions protected by the Employee Retirement Income Security Act (ERISA) has sufficient power and flexibility to address the critical challenges ahead—especially if lawmakers can step up and make a few easy-but-necessary fixes.Read more >
Deadline Extended for Form 5500 Reform Comments
The U.S. Department of Labor (DOL) has announced a two-month extension of the comment period on the Form 5500 Modernization Proposals floated earlier this year.Read more >
Small Talk

ON THIS DATE: In 1784, “The Pennsylvania Packet and Daily Advertiser” was published for the first time in Philadelphia. It was the first daily paper in America. In 1893, Frank Duryea took what is believed to be the first gasoline-powered automobile for a test drive. The “horseless carriage” was designed by Frank and Charles Duryea. In 1897, the New York Sun ran the “Yes, Virginia, there is a Santa Claus” editorial. It was in response to a letter from 8-year-old Virginia O’Hanlon. In 1937, J.R.R. Tolkien’s “The Hobbit” was first published. In 1948, Milton Berle debuted as the host of “The Texaco Star Theater” on NBC-TV. The show later became “The Milton Berle Show.” In 1949, Communist leaders proclaimed The People’s Republic of China. In 1957, “Perry Mason,” the television series, made its debut on CBS-TV. In 1961, Antonio Abertondo swam the English Channel (in both directions) in 24 hours and 25 minutes. In 1970, “NFL Monday Night Football” made its debut on ABC-TV. The game was between the Cleveland Browns and the New York Jets. The Browns won 31-21. In 1973, Henry Kissinger was confirmed by the U.S. Senate to become 56th Secretary of State. He was the first naturalized citizen to hold the office of Secretary of State. In 1981, the U.S. Senate confirmed Sandra Day O’Connor to be the first female justice on the U.S. Supreme Court. In 1985, North and South Korea opened their borders for their family reunion program. In 1996, the board of all-male Virginia Military Institute voted to admit women.

WEDNESDAY WISDOM: “True friendship is like sound health; the value of it is seldom known until it is lost.”—Charles Caleb Colton, English writer

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

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