Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 5th, 2018
Awards Nominations
2019 Awards Nominations Are Open
The nomination process has begun for the 2019 Plan Sponsor of the Year and Retirement Plan Adviser of the Year Awards. Read more >
Benefits & Administration
Segal Group Recommends Steps for DC Plan Cybersecurity
Among other things, it is recommended that plan sponsors minimize requests for and use of personally identifiable information and review recordkeepers’ security procedures. Read more >
Sponsors’ Unique Objectives Guide Retirement Income Discussions
Josh Cohen, managing director and head of institutional defined contribution for PGIM, says a big part of PGIM’s own strategy as a provider has been to foster deeper conversations across plan sponsors’ own organizations, “presenting them with a framework for allowing frank and practical discussions between the HR and finance functions.” He explains: “We are also working to tie in plan sponsors’ legal resources and fiduciary resources to really go beyond an investment discussion and to have a deeper strategy debate. It sounds idealist, but it is worth spending time on as a provider. There is a lot of value in having conversations that are not just product driven. Our products have to start with the question of, what are our clients’ objectives and how can we help them get there?” As Cohen sees it, the “whole retirement income conversation” is a good example of where a deeper discussion of objectives is sorely needed. Read more >
MOST READ ARTICLES
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Adidas Sued Over Excessive Fees for 401(k) Participants
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Yale Sued Over Wellness Program ‘Penalty’
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Employees in Two States Miss Out on One HSA Benefit
5
Some Help for Women’s Retirement Savings Gap May Be Coming
Economic Events

Construction spending during July was estimated at a seasonally adjusted annual rate of $1,315.4 billion, 0.1% above the revised June estimate of $1,314.2 billion, the Census Bureau reported. The July figure is 5.8% above the July 2017 estimate of $1,242.8 billion. During the first seven months of this year, construction spending amounted to $740.5 billion, 5.2% above the $703.7 billion for the same period in 2017.

Market Mirror

Yesterday, the Dow slipped 12.34 points (0.05%) to 25,952.48, the NASDAQ closed 18.29 points (0.23%) lower at 8,091.25, and the S&P 500 decreased 4.80 points (0.17%) to 2,896.72. The Russell 2000 lost 7.38 points (0.42%) to finish at 1,733.38, and the Wilshire 5000 was down 47.82 points (0.16%) at 30,226.71.

 

The price of the 10-year Treasury note decreased 10/32, bringing its yield up to 2.898%. The price of the 30-year Treasury bond fell 26/32, increasing its yield to 3.062%.

Compliance
Archdiocese of San Juan Files for Bankruptcy After Pension Plan Judgement
Earlier this year, a judge ordered the archdiocese to pay $4.7 million to both retired and active teachers, but the archdiocese says it no longer has any money. Read more >
Trump Executive Order Includes Call to Simplify Retirement Plan Disclosures
In addition to ordering a review of required minimum distribution (RMD) rules and expansion of multiple employer plans (MEP)s, President Donald Trump asked both the Treasury and Labor Departments to review actions that could make retirement plan disclosures easier to understand for participants and less costly to employers. Read more >
Industry Voices
Improve Retirement Outcomes With a Simple ‘Nudge’
Offering a new perspective, a marketing agency provides ideas for getting participants more engaged in their retirement plans. Read more >
Small Talk

ON THIS DATE: In 1698, Russia’s Peter the Great imposed a tax on beards. In 1774, the first session of the U.S. Continental Congress convened in Philadelphia. The delegates drafted a declaration of rights and grievances, organized the Continental Association, and elected Peyton Randolph as the first president of the Continental Congress. In 1836, Sam Houston was elected as the first president of the Republic of Texas. In 1877, Sioux chief Crazy Horse was killed by the bayonet of a U.S. soldier. The chief allegedly resisted confinement to a jail cell. In 1881, the American Red Cross provided relief for disaster for the first time. The disaster was the Great Fire of 1881 in Michigan. In 1882, the first U.S. Labor Day parade was held in New York City. In 1901, the National Association of Professional Baseball Leagues was formed in Chicago, IL. It was the first organized baseball league. In 1930, Charles Creighton and James Hagris completed the drive from New York City to Los Angeles and back to New York City all in reverse gear. The trip took 42 days in their 1929 Ford Model A. In 1945, Iva Toguri D’Aquino was arrested. D’Aquino was suspected of being the wartime radio propagandist “Tokyo Rose”. She served six years and was later pardoned by U.S. President Gerald Ford. In 1958, the first color videotaped program was aired. It was “The Betty Freezor Show” on WBTV-TV in Charlotte, North Carolina. In 1958, Boris Pasternak’s “Doctor Zhivago” was published for the first time in the U.S. In 1960, Cassius Clay of Louisville, Kentucky, won the gold medal in light heavyweight boxing at the Olympic Games in Rome, Italy. Clay later changed his name to Muhammad Ali. In 1961, the U.S. government made airline hijacking a federal offense. In 1986, Merv Griffin aired his final program for Metromedia Television after 23 years on various talk shows. In 1989, Chris Evert retired from professional tennis after a 19-year career. In 1991, Soviet lawmakers created an interim government to usher in the confederation after dissolving the U.S.S.R. The new name the Union of Sovereign States was taken.

 

 

WEDNESDAY WISDOM: “If you don’t think every day is a good day, just try missing one.”—Cavett Robert, motivational speaker

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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