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| Products, Deals & People | |
| Employee Fiduciary Offers Fee Comparison Database | |
| Employee Fiduciary has released its database of 401(k) fee comparisons compiled from live data over the last twelve months. The database reveals fees charged to small business retirement plans. It identifies plan providers by name and provides searchable data that allow plan sponsors to compare and benchmark their current plan fees.Read more > | |
| Economic Events | |
| The Conference Board Consumer Confidence Index, which had increased in August, improved moderately in September. The Index now stands at 103.0 (1985=100), up from 101.3 in August. The Present Situation Index increased from 115.8 last month to 121.1 in September, while the Expectations Index edged down to 91.0 from 91.6 in August. | |
| Market Mirror | |
Tuesday, the Dow closed 47.24 points (0.30%) higher at 16,049.13, the NASDAQ closed 26.65 points (0.59%) lower at 4,517.32, and the S&P 500 was up 2.32 points (0.12%) at 1,884.09. The Russell 2000 decreased 6.67 points (0.61%) to 1,083.90, and the Wilshire 5000 was down 22.93 points (0.12%) at 19,737.25. On the NYSE, 3.2 billion shares traded, with 1.3 declining issues for every advancing issue. On the NASDAQ, 2.7 billion shares changed hands, with a 1.7 to 1 ratio of decliners to advancers. The price of the 10-year Treasury note was down 7/32, increasing its yield to 2.078%. The price of the 30-year Treasury bond decreased 14/32, bringing its yield up to 2.873%. | |
| Compliance | |
| EEOC Charges Fire Company with Age Discrimination | |
| The U.S. Equal Employment Opportunity Commission (EEOC) alleges that the Glenwood Fire Company, along with several towns and villages in Long Island, New York, have discriminated against older firefighters from accruing credits toward a pension-like plan. The “length of service award program” (LOSAP), similar to a retirement pension, was created by the towns of North Hempstead and Oyster Bay and the villages of Old Brookville and Roslyn Harbor. The plan unlawfully prohibits volunteer firefighters from accruing service credits after they turn 55.Read more > | |
| From the Magazine | |
| Asset Class Focus: Alternative Assets | |
| After the bursting of the technology bubble, the severe drop in global stock markets seen in 2000 and 2001 brought institutional investors a new appreciation for the behavior of equities—for most, their largest and most volatile asset. Seeking to calm their turbulent portfolios through diversification in other markets, many turned to or expanded their existing allocations in alternative assets such as commercial real estate, private equity and hedge funds. The global financial crisis of 2008 added momentum to the shift to alternatives, and by 2014, U.S. pension funds held 29% of their portfolios in nontraditional assets, up from 13% in 2002 and just 9% in 1997, as reported by consultants Towers Watson.Read more > | |
| Small Talk | |
ON THIS DATE: In 1846, Dr. William Morton performed a painless tooth extraction after administering ether to a patient. In 1946, an international military tribunal in Nuremberg, Germany, found 22 top Nazi leaders guilty of war crimes. In 1947, the World Series was televised for the first time.
WEDNESDAY WISDOM: “I love deadlines. I like the whooshing sound they make as they fly by.”— Douglas Adams, 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 > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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