Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 31st, 2018
Workplace Demographics Shape a New Understanding of Retirement
Take a couple that is healthy and retiring today at age 65; the probability of at least one member of this couple living to age 75 is 97%, and to 90, nearly 50%. Read more >
Penn State to Adopt Fee-Leveling Approach in Retirement Plans
An announcement explains that fee-leveling ensures that all participants pay the same percentage of their account balances for recordkeeping and administrative fees, regardless of the funds in which they invest, and says recent advancements in the recordkeeping system used by TIAA are enabling Penn State to take this step. Read more >
Repeated Use of Financial Wellness Programs Improves Outcomes
Employees who repeatedly engage with financial wellness programs offered by their employer are benefiting from a compounding effect, whereby gains in financial health grow over time, according to Financial Finesse’s “Financial Wellness Think Tank 2017 Year in Review” research. Read more >
Duty to Investigate
The two fundamental duties of a fiduciary under the common law of trusts are the duties of loyalty and of prudence. With respect to the latter, a plan fiduciary under the Employee Retirement Income Security Act must act with “the care, skill, prudence and diligence under the circumstances that a prudent man would use.” Read more >
DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans
Advisers Get Long-Awaited Clarity on ESG in Retirement Plans
Plan Advisers Value Trustworthiness, “Personal” Touch from DC Recordkeepers
AARP Finds Major Gap Between Retirement Goals and Preparedness
Financial Firms Looking to HBCUs, “Pipeline” Programs to Bolster Diversity
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Retirement Income Options
“In mainstream corporate America, there is a lot of hand-wringing about retirement income for DC participants, but foot-dragging when doing anything about it,” observes Martha Tejera, head of plan consulting firm Tejera & Associates and a board member of the Institutional Retirement Income Council. Read more >
SEI Warns That Many TDFs Are Too Risky
SEI has been talking to TDF managers about deploying strategies within their investment lineup that mitigate the potential downside. Read more >
Market Mirror
Wednesday, the Dow gained 306.33 points (1.26%) to finish at 24,667.78, the NASDAQ closed 65.86 points (0.89%) higher at 7,462.45, and the S&P 500 increased 34.15 points (1.27%) to 2,724.01. The Russell 2000 was up 24.34 points (1.50%) at 1,647.99, and the Wilshire 5000 climbed 356.98 points (1.27%) to 28,414.77. The price of the 10-year Treasury note decreased 19/32, bringing its yield up to 2.846%. The price of the 30-year Treasury bond fell 31/32, increasing its yield to 3.019%.
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