Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 3rd, 2015
Benefits & Administration
Corporate Pensions Slipped 2% in Rocky August
The estimated aggregate funding level of pension plans sponsored by S&P 1500 companies slipped by 2%, to 81%, as of August 31, according to Mercer. Rising rates mitigated losses in equity markets.Read more >
Market Volatility Drives Participant Call Volumes Higher
According to Ed Murphy, president of Empower Retirement, defined contribution (DC) plan participants called the recordkeeping provider at a record pace on Monday the 24th of August. Participants were clearly reacting to sharp drops in the Standard & Poor’s (S&P) 500 and the Dow Jones Industrial Average, Murphy tells PLANSPONSOR. What message did his firm convey to concerned retirement investors?Read more >
MOST READ ARTICLES
Research
2021 Target-Date Fund Survey
Compliance
Rush of Litigation Against Retirement Plans Expected to Continue

2020 Recordkeeping Survey
Products, Deals & People
As we enter September’s College Savings Month, Ascensus College Savings, a 529 plan administrator, has launched Learn529.com, an interactive website that educates investors about 529 plans and how to achieve college savings goals.Read more >
Morgan Stanley Offers Education to Stock Plan Participants
Morgan Stanley’s Global Stock Plan Services (GSPS) group has migrated more than 300 corporate clients to its newly redesigned equity recordkeeping portal, StockPlan Connect. In tandem with StockPlan Connect, GSPS released its first iteration of a participant Knowledge Center. The Knowledge Center features a variety of educational content.Read more >
Economic Events
Factory orders rose 0.4% in July, marking a second month of gain, the Census Bureau reported. The gain in July was led by a 5.5% jump in transportation equipment, while orders for manufactured nondurable goods fell 1.3%.
Market Mirror

Eleven of the Fed’s 12 regional banks reported that the economy grew at least modestly in July through mid-August, the Associated Press reports. Major U.S. stock indices bounced back yesterday, as the Dow climbed 293.03 points (1.82%) to reach 16,351.38, the NASDAQ rose 113.87 points (2.46%) to finish at 4,749.98, and the S&P 500 increased 35.01 points (1.83%) to 1,948.86. The Russell 2000 was up 17.98 points (1.59%) at 1,146.03, and the Wilshire 5000 closed 352.35 points (1.74%) higher at 20,558.41.

On the NYSE, 3.2 billion shares changed hands, with nearly 3:1 ratio of advancers to decliners, and on the NASDAQ, 2.8 billion shares traded, with slightly more than 2 advancing issues for every declining issue.

The price of the 10-year Treasury note was down 8/32, increasing its yield to 2.184%. The price of the 30-year Treasury bond dropped 25/32, bringing its yield up to 2.953%.

Compliance
Court Questions Ability to Recover Pension Overpayments
A federal district court judge has moved forward certain claims brought by a plan sponsor against a retired plan participant from whom it is seeking recovery of pension overpayments. Questions about whether funds can be identified in the participant’s possession and when the statute of limitations started to accrue have pushed the case to trial.Read more >
From the Magazine
Avoiding Failed Nondiscrimination Tests
What should you do if your plan receives a failing grade on the ADP and ACP nondiscrimination tests? What caused the failure, and what steps can you take to correct that misstep?Read more >
Small Talk
ON THIS DATE: In 1189, England’s King Richard I was crowned in Westminster. In 1783, the Revolutionary War between the U.S. and Great Britain ended with the Treaty of Paris. In 1833, the first successful penny newspaper in the U.S., “The New York Sun,” was launched by Benjamin H. Day. In 1935, Sir Malcolm Campbell became the first person to drive an automobile over 300 miles an hour. He reached 304.331 MPH on the Bonneville Salt Flats in Utah. In 1954, “The Lone Ranger” was heard on radio for the final time after 2,956 episodes over a period of 21 years. In 1967, in Sweden, motorists stopped driving on the left side of the road and began driving on the right side. In 1976, the U.S. spacecraft Viking 2 landed on Mars. The unmanned spacecraft took the first close-up, color photos of the planet’s surface. In 2013, hunters in Mississippi caught a 727-pound alligator.
SURVEY SAYS: Yesterday, we reported about the Beloit College Mindset List for the college class of 2019. I started thinking about how my children have always used computers and been comfortable with the latest technology, while the first time I touched a computer was in 12th grade and I’m still today confused and amazed by how technology works. This week, I’d like to know, when was the first time you used a computer, and how comfortable are you with the latest technology? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more >
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 >

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

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