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Webcast Event |
Many employers are exploring ways to integrate healthcare savings with retirement plan savings. Learn how to address this trend and navigate the convergence of health and wealth. Join us TODAY for insights into the following topics: How you can help employees save more and benefit from an integrated plan; Why personalization and integration are so important; and How an integrated approach can differentiate your benefits offering.Read more > |
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Economic Events |
Existing-home sales stumbled in August for the fourth time in five months as strained supply levels continue to subdue overall activity, according to the National Association of Realtors. Sales gains in the Northeast and Midwest were outpaced by declines in the South and West. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, retreated 1.7% to a seasonally adjusted annual rate of 5.35 million in August from 5.44 million in July. Last month’s sales pace is 0.2% above last August, and is the lowest since then. |
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Sponsored message from PNC |
Assess Your Organization’s Retirement Plan With PNC’s No-Cost Evaluation Your employees deserve high standards, and at PNC Retirement Solutions(r), we believe you deserve the same. That’s why we’re offering a no-cost retirement plan evaluation, to help you build a plan that fits the needs of your organization and employees.Read more > |
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Market Mirror |
Wednesday, the Dow gained 41.79 points (0.19%) to finish at 22,412.59, the NASDAQ was down 5.28 points (0.08%) at 6,457.04, and the S&P 500 increased by 1.59 (0.06%) to 2,508.24. The Russell 2000 was up 5.02 points (0.35%) at 1,445.42, and the Wilshire 5000 closed 26.80 points (0.10%) higher at 26,050.03. The price of the 10-year Treasury note was down 7/32, increasing its yield to 2.271%. The price of the 30-year Treasury bond was up 6/32, decreasing its yield to 2.808%. |
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Compliance |
Gucci Retirement Plan Sued for Charging Excessive Fees |
The complaint states that Gucci America was “particularly egregious” in regards to offering proprietary funds from its service provider Transamerica.Read more > |
Court Finds ESOP Fiduciaries Had No Good Reason to Delay Diversification |
A federal court has found that an employee stock ownership plan (ESOP) document’s plain language makes the plan sponsor’s decision to not implement participants’ diversification elections in a timely manner “arbitrary and capricious.” The court granted summary judgment to the plaintiffs and ordered their benefits be paid along with prejudgment interest.Read more > |
Essentia Health ERISA Suit Survives Motion to Dismiss |
Participants allege the company should have allowed a single recordkeeper to service its traditional defined contribution (DC) plan and its 403(b) plan—and that it permitted excessive fees by paying for distinct administrative services for each.Read more > |
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Small Talk |
ON THIS DATE: 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 eight-year-old Virginia O’Hanlon. In 1937, J.R.R. Tolkien’s “The Hobbit” was first published. 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 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 Senate confirmed Sandra Day O’Connor to be the first female justice on the U.S. Supreme Court. In 1996, the board of all-male Virginia Military Institute voted to admit women. |
SURVEY SAYS: It seems that many adults are struggling with basic finances—budgeting, paying off debt and saving. I have seen many suggestions that basic financial education should start when children are in school. This week, I’d like to know, do you think basic financial education should be taught in K-12 schools, and if so, starting at what grade? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > |
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 > |