Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 30th, 2019

Natural Disasters Damage Retirement Accounts, Too

What options do participants have when a natural disaster affects them, and are there steps plan sponsors can take to reduce the impact on retirement savings? Read more >
Compliance
IRS Provides Guidance for Individual Coverage HRAs
Starting in January 2020, employers will be able to use individual coverage HRAs to provide their workers with tax-preferred funds to pay for the cost of health insurance coverage that workers purchase in the individual market. Read more >
Court Dismisses Invesco ERISA Lawsuit
While the decision voices some concern about the Invesco plan’s operations, the summary judgement ruling concludes plaintiffs have not sufficiently alleged that fiduciary breaches likely occurred. Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
2
Congressional Leaders Want SECURE Act Passage in 2019
3
Social Security Administration Announced COLA for 2020
4
Could GE Have Continued Its DB Benefits?
5
Millennium Trust Helps Small Businesses Select a Retirement Plan
Sponsored message from Ayco
VIDEO: Strategies and timing of Roth IRA accounts
Changes mean there’s never been a better time to fund a Roth. Read more >
Products, Deals and People
Retirement Industry People Moves
T. Rowe Price builds up target-date team, and Wells Fargo board of directors names CEO and president. Read more >
Economic Events

New orders for manufactured durable goods in August increased $0.5 billion or 0.2% to $250.7 billion, the U.S. Census Bureau announced. This increase, up three consecutive months, followed a 2% July increase. Excluding transportation, new orders increased 0.5%. Excluding defense, new orders decreased 0.6%. Fabricated metal products, up four of the last five months, led the increase, $0.4 billion or 1.3% to $34.4 billion.

 

THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about construction spending for August. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about factory orders for August. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for September.

Market Mirror

Friday, the Dow was down 70.87 points (0.26%) at 26,820.25, the NASDAQ fell 91.03 points (1.13%) to 7,939.63, and the S&P 500 decreased 15.83 points (0.53%) to 2,961.79. The Russell 2000 lost 12.85 points (0.84%) to finish at 1,520.48, and the Wilshire 5000 closed 190.39 points (0.63%) lower at 30,204.06.

 

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.683%. The price of the 30-year Treasury bond increased 3/32, bringing its yield down to 2.128%.

 

WEEK’S WORTH: For the week ending September 27, the Dow was down 0.43%, the NASDAQ lost 2.19%, and the S&P 500 decreased 1.01%. The Russell 2000 fell 2.52%, and the Wilshire 5000 finished 1.33% lower.

From the Magazine
Does Match Frequency Matter?
PLANSPONSOR data show that giving matches regularly, over the year, can have a modest effect on participant outcomes. Read more >
Small Talk

ON THIS DATE: In 1777, Congress moved to York, Pennsylvania, due to advancing British forces. In 1787, the Columbia left Boston and began the trip that would make it the first American vessel to sail around the world. In 1882, in Appleton, Wisconsin, the world’s first hydroelectric power plant began operating. 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. In 1949, the Berlin Airlift came to an end. The airlift had taken 2.3 million tons of food into the western sector despite the Soviet blockade. In 1951, “The Red Skelton Show” debuted on NBC-TV. In 1954, the U.S. Navy commissioned the Nautilus submarine at Groton, Connecticut. It was the first atomic-powered vessel. In 1976, California enacted the Natural Death Act of California. The law was the first example of right-to-die legislation in the U.S. In 1982, “Cheers” began an 11-year run on NBC-TV. In 1989, thousands of East Germans began emigrating under an accord between the NATO nations and the Soviet Union. In 1993, U.S. chairman of the Joint Chiefs of Staff Colin Powell retired. In 1994, the space shuttle Endeavor took off on an 11-day mission. Part of the mission was to use a radar instrument to map remote areas of the Earth. In 2014, Amazon filed for a patent for a UAV (unmanned aerial vehicle) configured to autonomously deliver items to customers. The patent was related to Amazon’s plan for their Prime Air service.

SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Do you work beyond your company’s regular work hours and if so, do you prefer to do so by coming in early, staying late or in some other way?” The majority of responding readers indicated they work beyond their company’s regular work hours, and responses were nearly even split about how often. As for when they prefer to work beyond regular work hours (if they have to or need to), “Earlier than the regular start time, either remotely or in the office” was selected by 38.5% of respondents, and “Later than the regular end time, either remotely or in the office” was chosen by 43.1%. While readers selected their preference in the second question of the survey, in verbatim comments many noted they work at other times as well. Some point out that working outside of regular hours can be more productive due to less distractions. Editor’s Choice goes to the reader who said: “I feel like it all depends on the culture. If there is so much work that you are staying late all the time, then there is something else that needs to be done. Here and there, then you are just doing normal catch up.” Thanks to all who participated in the survey! Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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