| | Webcast Event | | As the percentage of workers with defined
benefit (DB) plans declines, many Americans continue to lose a critical element
of their retirement security: guaranteed lifetime income. In the quest for the
best ways to address this and other challenges within defined contribution (DC)
plans, Prudential Retirement has conducted a study of plan participant outcomes
based on client adoption of a default investment that includes a guaranteed
lifetime income solution. Join us today for a webcast that takes an in-depth
look at how plan design is key to unlocking the full potential of lifetime
income solutions, including how overall plan design impacts participant
outcomes, and how a default investment with a lifetime income option impacts
plan design.Read more > | | | Second Opinions | | SECOND OPINIONS: ACA Reporting Forms and Instructions | | Experts from Groom Law Group answer questions
received about draft forms and instructions released by the Internal Revenue
Service (IRS) for employer reporting responsibilities under the Patient
Protection and Affordable Care Act (ACA).Read more > | | | Benefit Briefs | | Eight in 10 U.S. workers believe defined
contribution (DC) plans are an effective way to save for retirement, a LIMRA
Secure Retirement Institute survey reveals. Six in 10 workers who participate
in a 401(k) or other DC plan said they would likely achieve a secure
retirement, and more than three-quarters believe all workers should have access
to a retirement savings plan.Read more > | | ABC Outlines Vision for Employee Benefits | | A new strategy outline issued by the American
Benefits Council (ABC) suggests the advocacy group will work to achieve public
policy reform that more closely unifies health care and retirement concerns. ABC’s
new strategy manifesto shows the organization expects recent trends in personal
health and financial well-being to gain steam in the medium- and long-term,
through which individuals and employers are embracing a broader view of
lifetime income protection that includes not only health coverage and
retirement savings, but also incorporates life insurance, disability and
long-term care coverage in a much more integrated way.Read more > | | “If we switch recordkeepers should the contribution
sources be preserved? What if it is just a 403(b) plan to 403(b) plan transfer
(and not a complete plan transfer)?”Read more > | | | Buyer's Market | | Booklet Discusses Using Homes for Retirement Income | | The Center for Retirement Research (CRR) at
Boston College has released a booklet explaining ways retirement savers can use
home equity to achieve additional income in retirement. According to the CRR,
home equity is the largest store of wealth for retirees and, with reduced
support from Social Security and pensions, many more will need it for
retirement income. The two primary ways to tap home equity are downsizing,
meaning moving to a less expensive house, and a reverse mortgage.Read more > | | Andrew Daly joined investment management and
processing firm SEI as a client investment strategist on the firm’s U.S.
institutional advisory team. Daly will work with clients to provide strategic
advice on various investment vehicles tailored to their unique goals and
objectives. SEI says Daly’s hiring supports its commitment to bringing advanced
alternative investment solutions to retirement plan clients and other
institutional investors.Read more > | | JPMorgan HSA Business Goes to HSA Bank | | Webster Financial Corporation has signed a
definitive agreement to acquire the health savings account (HSA) business from
JPMorgan Chase Bank. Under the agreement, approximately 700,000 accounts,
including an estimated $1.3 billion in deposits and $175 million in
investments, will migrate from JPMorgan Chase Bank to HSA Bank, a division of
Webster Bank and administrator and depository of HSAs.Read more > | | | Industry Voices | | Industry Voice: Mobile Apps Redefine How Workers Tap Benefits | | As mobile phones continue to play a central role
in the everyday lives of American workers, people are increasingly using their
devices for more than just texting, shopping, and playing games. They are also
managing the day-to-day affairs for both their jobs and their personal lives.
As a result, employers are seeking ways to provide employees with easy access
to their retirement and health benefits on mobile devices. Since mobile phones
are the gateway for Americans to do business, socialize and entertain
themselves—sometimes all at once—it’s critical that workplace benefit applications
go beyond just providing account balance information.Read more > | | | Market Mirror | | Tuesday, the Dow closed 116.81 points
(0.68%) lower at 17,055.87, the NASDAQ was down 19.00 points (0.42%) at
4,508.69, and the S&P 500 decreased 11.52 points (0.58%) to 1,982.77. The Russell
2000 fell 10.65 points (0.94%) to 1,118.72, and the Wilshire 5000 lost 131.37
points (0.63%) to finish at 20,877.00.
On the NYSE, 3.2 billion shares traded,
and on the NASDAQ, 2.8 billion shares changed hands, with 2.4 declining issues
for every advancing issue on both exchanges.
The price of the 10-year Treasury note increased
11/32, bringing its yield down to 2.528%. The price of the 30-year Treasury
bond was up 24/32, decreasing its yield to 3.249%.
| | | Small Talk | | Tampa Tops Best Places to Retire Ranking | | To help American retirees find the best and most
wallet-friendly places to call home for their Golden Years, WalletHub analyzed
the retirement-friendliness of the 150 largest cities in the United States. The
five best cities to retire, according to WalletHub, are Tampa, Florida; Grand
Prairie, Texas; Orlando, Florida; St. Petersburg, Florida; and Scottsdale,
Arizona. The five worst are Chicago, Illinois (ranked 146); New York, New York;
Philadelphia, Pennsylvania; Newark, New Jersey; and Providence, Rhode Island. WalletHub
ranked 25 key metrics, including the most fishing facilities per capita.Read more > | | ON
THIS DATE: In
1789, the Judiciary Act of 1789 was
passed by Congress and signed by President George Washington, establishing the
Supreme Court of the United States as a tribunal made up of six justices who
were to serve on the court until death or retirement. In 1890, Mormon leaders issued the “Mormon Manifesto,” in
which they commanded all Latter-day Saints to uphold the anti-polygamy laws of
the nation. In 1957, U.S. President
Eisenhower sent federal troops to Little Rock, AR, to enforce school
integration. In 1960, the first nuclear
powered aircraft carrier was launched. The USS
Enterprise set out from Newport News, Virginia. In 1966, the made-for-television Monkees’ first single, “Last
Train To Clarksville” entered the Billboard Top 40. In 1968, “60 Minutes” premiered
on CBS-TV. In 2003, Anthony Hopkins
received a star on the Hollywood Walk of Fame.
WEDNESDAY
WISDOM: “It is
easier to go down a hill than up, but the view is from the top.”—Arnold Bennett, English writer
| | Share the good news with a friend! Pass the Dash along – and tell your
friends/associates they can sign up for their own copy.Read more > | | News from PLANSPONSOR.com
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