| Products, Deals and People | A group of financial adviser certification and advocacy groups are teaming up with local governments across the U.S. to provide no-cost financial planning throughout October.Read more > | Corporate Insight has launched the WorkPlace Exchange platform, which will allow plan sponsors to confidentially communicate with other sponsors to trade ideas on how best to educate and motivate plan participants.Read more > | | Sponsored message from MetLife | Webcast: Lifetime Income for Defined Contribution Plans – A Path Forward PLANSPONSOR and MetLife discuss findings from MetLife’s new Lifetime Income Poll, and offer perspectives about the core purpose of a DC plans, including best practices for delivering income solutions to participants.Read more > | | Economic Events | The Conference Board Consumer Confidence Index, which had increased in August, improved further in September. The Index now stands at 104.1 (1985=100), up from 101.8 in August. The Present Situation Index rose from 125.3 to 128.5, while the Expectations Index improved from 86.1 last month to 87.8. | | Market Mirror | Tuesday, the Dow climbed 133.47 points (0.74%) to 18,228.30, the NASDAQ closed 48.22 points (0.92%) higher at 5,305.71, and the S&P 500 increased 13.83 points (0.64%) to 2,159.93. The Russell 2000 was up 5.43 points (0.44%) at 1,246.37, and the Wilshire 5000 gained 124.50 points (0.56%) to finish at 22,492.02.
On the NYSE, 3.1 billion shares traded, with advancing issues outnumbering declining issues 1.4 to 1. On the NASDAQ, 2.9 billion shares changed hands, with a 1.8 to 1 ratio between advancers and decliners.
The price of the 10-year Treasury note was up 7/32, decreasing its yield to 1.560%. The price of the 30-year Treasury bond increased 29/32, bringing its yield down to 2.280%. | | Compliance | DOL Reaches Settlement With Company Over ACA Violations | Fiduciaries of the Sierra Pacific Industries Health Benefits Plan have agreed to settle claims they did not comply with the Affordable Care Act (ACA) and the Employee Retirement Income Security Act (ERISA) when providing health care benefits and deciding worker claims for health care benefits. The lumber producer made changes to its health care plan, falling out of “grandfathered” status under the ACA, but kept administering it as a “grandfathered” plan, according to the Department of Labor’s (DOL)’s investigation.Read more > | | From the Magazine | The Time and Place for ERISA Counsel | Whether the issues are complex or mundane, plan sponsors look to Employee Retirement Income Security Act (ERISA) attorneys for support.Read more > | | Ask the Experts | Changes to Consider as ERISA 403(b) Plan Size Grows | “I work for a rapidly-growing nonprofit that just two years ago had a handful of employees; now, we have more than 100. We have sponsored an Employee Retirement Income Security Act (ERISA) 403(b) plan since the inception of the firm. Are there areas of plan governance to which a growing firm such as ours should pay particular attention?”Read more > | | Small Talk | This year’s presidential campaign is taking a toll on American workers, some of whom report feeling stressed, argumentative and less productive because of political discussions on the job, according to a survey by the American Psychological Association (APA).Read more > | ON THIS DATE: In 1066, England was invaded by William the Conqueror who claimed the English throne. In 1542, San Diego, California, was discovered by Portuguese navigator Juan Rodriguez Cabrillo. In 1781, during the Revolutionary War, American forces began the siege on Yorktown, Virginia. In 1787, the U.S. Congress voted to send the new Constitution of the United States to the state legislatures for their approval. In 1850, U.S. President Millard Fillmore named Brigham Young the first governor of the Utah territory. In 1924, the first around-the-world flight was completed by two U.S. Army planes when they landed in Seattle, Washington. The trip took 175 days. In 1955, the World Series was televised in color for the first time. The game was between the New York Yankees and the Brooklyn Dodgers. In 1967, the first mayor of Washington, D.C., Walter Washington, took office. In 1968, the Atlanta Chiefs won the first North American Soccer League Championship. In 1991, in response to U.S. President George H.W. Bush’s reduction of U.S. nuclear arms, Soviet President Mikhail S. Gorbachev promised to reciprocate. In 1997, the DVD format was officially debuted at the 103rd convention of the Audio Engineering Society (AES) in New York City. In 2004, the U.S. Federal Reserve and the U.S. Secret Service introduced the first newly redesigned $50 bill.
WEDNESDAY WISDOM: “Always read something that will make you look good if you die in the middle of it.”—P. J. O’Rourke, American political satirist and journalist | Share the good 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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