Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 9th, 2019
Benefits & Administration
Help for Employees Falling Behind on Retirement Savings
Educating employees about the power of time on their savings, encouraging them to log into their retirement plan accounts and starting them at a higher deferral rate are some ways employers can help boost employees’ retirement savings. Read more >
Simple Ways to Reduce Employees’ Current and Future Health Cost Concerns
Taking advantage of preventive care, health savings accounts (HSAs) and employer-provided physical wellness programs are some of the ways employees can get a handle on health care costs now an for the future. Read more >
MOST READ ARTICLES
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Sidecar Savings Accounts Create Current and Future Financial Security
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Avoid Pitfalls to Properly Replacing DC Plan Investments
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What Safe Harbors Are Available to Retirement Plan Sponsors?
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(b)lines Ask the Experts – Can a 401(a) Plan Account be Rolled Into a 403(b) Plan?
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Plan Sponsors Should Address Financial Squeeze Put on Gen X
Sponsored message from Capital Group
Your people make your company great.
Show them you value their hard work. Give them the 401(k) they deserve with the target date series from Capital Group, home of American Funds. Read more >
Products, Deals and People
Retirement Industry People Moves
Parametric names director of Liability Driven Investment Strategies; Large and mega market regional directors join Transamerica; Strategic Investment Group selects managing director for relationships team; and more. Read more >
Economic Events

Total nonfarm payroll employment rose by 130,000 in August, and the unemployment rate held at 3.7%, according to the Bureau of Labor Statistics (BLS). Federal government employment rose, largely due to the hiring of temporary workers for the 2020 Census. Health care and financial activities also added jobs, while mining lost jobs.

 

THE ECONOMIC WEEK AHEAD: Wednesday, the BLS will reveal the producer price index for August, and the Census Bureau will report about wholesale trade in July. Thursday, the Labor Department will issue its initial claims report, and the BLS will reveal the consumer price index for August. Friday, the Census Bureau will report about retail sales for August and business trade for July.

Market Mirror

Friday, the Dow increased 69.31 points (0.26%) to 26,797.46, the NASDAQ decreased 13.75 points (0.17%) to 8,103.07, and the S&P 500 was up 2.71 points (0.09%) at 2,978.71. The Russell 2000 closed 5.60 points (0.37%) lower at 1,505.15, and the Wilshire 5000 was down 8.60 points (0.03%) at 30,398.61.

 

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.555%. The price of the 30-year Treasury bond increased 29/32, bringing its yield down to 2.022%.

 

WEEK’S WORTH: For the week ending September 6, the Dow increased 1.49%, the NASDAQ gained 1.76%, and the S&P 500 climbed 1.79%. The Russell 2000 was up 0.69%, and the Wilshire 5000 finished 1.59% higher.

Compliance
Broad ERISA Lawsuit Targets Texas Grocery Chain
Plaintiffs suggest higher than average fees were not attributable to enhanced services for participants, but instead to defendants’ use of high-cost investment products and managers. Read more >
Court Finds Atrium Health’s Benefit Plans Are Governmental Plans
A U.S. District Judge in North Carolina determined the health system’s retirement and health plans were established and maintained for its employees by a political subdivision of the State. Read more >
Small Talk

ON THIS DATE: In 1776, the second Continental Congress officially named the country “United States”, replacing “United Colonies.” In 1850, California became the 31st state to join the union. In 1926, the National Broadcasting Company (NBC) was created by the Radio Corporation of America (RCA). In 1948, North Korea became the People’s Democratic Republic of Korea. In 1956, Elvis Presley made his first appearance on “The Ed Sullivan Show.” In 1971, prisoners rioted and seized control of the maximum-security Attica Correctional Facility near Buffalo, New York. In 1994, the space shuttle Discovery blasted off on an 11-day mission. In 1999, the Sega Dreamcast game system went on sale. By 1:00pm all Toys R Us locations in the U.S. had sold out.

SURVEY SAYS: Readers pointed out issues with the survey from last week, so it’s been rebuilt. Yes, employees can use more education to increase their financial know-how, but honestly, so can some of us in the retirement plan industry. This week, I’d like to know, what financial topics do you educate your employees about and which of those do you need more education about? Responses may be included in a future edition of PLANSPONSOR magazine. Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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