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| Sponsors More Focused on Their Fiduciary Responsibilities |
| Due to regulatory uncertainty and increasing litigation from plan participants, retirement plan sponsors have become more proactive about their fiduciary responsibilities, Deloitte found in its Annual Defined Contribution Benchmarking Survey, based on a survey of 240 sponsors.Read more > |
| Founder of TheMuse Offers Inside Take on Millennials’ Work Preferences |
| Kathryn Minshew, CEO and founder of TheMuse.com, at a recent Wells Fargo Asset Management press discussion in New York, said, “Our data suggests that Millennials will make up 75% of the workforce by the year 2025.” This may seem like data that is more relevant for other human resources and benefits discussions outside the retirement plan, but based on Wells Fargo data and on her own firm’s analysis, Minshew suggested Millennials stand to inherit some $30 trillion in wealth over the coming decades, “and this has very important implications for their financial futures, including the workplace retirement planning picture.”Read more > |
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| Sponsored message from fi360 |
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| Products, Deals and People |
| Fee Checker Tool Gauges Plan Costs’ Impact on Savings |
| America’s Best 401k has upgraded its fee-checker tool, which provides plan sponsors and participants with free access to an online snapshot of the fees they pay for their retirement plans, as well as the resulting impact on investment returns.Read more > |
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| Market Mirror |
Yesterday, the Dow closed 53.50 points (0.24%) lower at 22,296.09, the NASDAQ lost 56.33 points (0.88%) to finish at 6,370.59, and the S&P 500 was down 5.56 points (0.22%) at 2,496.66. The Russell 2000 increased by 1.17 (0.08%) to 1,451.95, and the Wilshire 5000 decreased 44.41 points (0.17%) to 25,956.87. The price of the 10-year Treasury note was up 11/32, decreasing its yield to 2.217%. The price of the 30-year Treasury bond increased 16/32, bringing its yield down to 2.758%. |
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| Compliance |
| Participant Says ‘Large Plan’ Failed to Negotiate Better Fees |
| An excessive fee lawsuit has been filed against fiduciaries of the Novitex Enterprise Solutions Retirement Savings Plan, a 401(k) plan which had more than $157 million in assets as of the end of 2015.Read more > |
| Wells Fargo Stock Drop Suit Dismissed |
| A federal district court ruled the plaintiffs did not meet all the pleading standards set forth by the U.S. Supreme Court.Read more > |
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| Small Talk |
| ON THIS DATE: In 1789, Thomas Jefferson was appointed America’s first Secretary of State. John Jay was appointed the first chief justice of the U.S. Samuel Osgood was appointed the first Postmaster-General. Edmund Jennings Randolph was appointed the first Attorney General. In 1914, the U.S. Federal Trade Commission was established. In 1950, U.N. troops recaptured the South Korean capital of Seoul from the North Koreans during the Korean Conflict. In 1955, the New York Stock Exchange suffered its worst decline since 1929 when the word was released concerning U.S. President Dwight Eisenhower’s heart attack. In 1960, the first televised debate between presidential candidates Richard M. Nixon and John F. Kennedy took place in Chicago. In 1962, “The Beverly Hillbillies” premiered on CBS-TV. In 1964, “Gilligan’s Island” premiered on CBS-TV. In 1969, “The Brady Bunch” series premiered on ABC-TV. In 1981, the Boeing 767 made its maiden flight in Everett, Washington. In 1985, Shamu was born at Sea World in Orlando, Florida. Shamu was the first killer whale to survive being born in captivity. In 1990, the Motion Picture Association of America announced it had created a new rating. The new NC17 rating was to keep moviegoers younger than 17 from seeing certain films. In 1991, four men and four women began their two-year stay inside the “Biosphere II.” The project was intended to develop technology for future space colonies. In 1993, the eight people who had stayed in “Biosphere II” emerged from their sealed off environment. In 1996, Shannon Lucid returned to Earth after being in space for 188 days. She set a time record for a U.S. astronaut in space and in the world for time spent by a woman in space. In 2006, Facebook was opened to everyone at least 13 years or older with a valid email address. |
| TRIVIAL PURSUITS: Which state in the U.S. has the most earthquakes?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 > |
