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August 9th, 2018 |
| Debt Needs to Be Addressed in Financial Wellness Programs | | The four domains of well-being (health, money, work and life) all play a critical role in an employee’s total well-being, according to a study that found workers are struggling most in the financial domain, where 42% fall into the “unwell” category.
Read more > | | | Retirement Planning Must Include Discussions About Health Care Costs | | Although 76% of advisers say their clients are confident in their plan to pay beyond what Medicare covers for health care during retirement, nearly two-thirds of advisers say their clients expect advice on health care costs in retirement, and 34% say their clients would likely leave them if they didn’t help them estimate and plan for out-of-pocket health care costs in retirement.
Read more > | | | Citigroup, 401(k) Participants Agree to Settle ERISA Lawsuit | | In a lawsuit alleging that Citigroup violated its fiduciary duties under the Employee Retirement Income Security Act (ERISA) by offering and keeping affiliated funds in its 401(k) plans when better-performing, lower-cost funds were available, the parties have reached a settlement agreement, without any admissions of liability as to any claims, or as to the weakness or strength of either party’s respective claims or defenses.
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| Focusing 403(b) Plan Clients on Document Remedial Amendment Period | | The last day of the 403(b) plan remedial amendment period may seem far off, but it’s not, and both Employee Retirement Income Security Act (ERISA)-governed and non-ERISA 403(b) plan sponsors need to start working on any plan restatements now.
Read more > | | | Rollover Recommendations | | Under the old fiduciary rules, which now apply again, some rollover recommendations may still be fiduciary acts resulting in a prohibited transaction.
Read more > | | | PLANADVISER Defined Contribution Investment Only (DCIO) Survey | | While not representative of this entire market, the survey can be seen as a proxy for the overall direction of DCIO asset levels and allocation.
Read more > | | | Market Mirror | | Wednesday, the Dow closed 45.16 points (0.18%) lower at 25,583.75, the NASDAQ was up 4.66 points (0.06%) at 7,888.33, and the S&P 500 was virtually unchanged at 2,857.70. The Russell 2000 decreased 1.42 points (0.08%) to 1,686.88, and the Wilshire 5000 was down 5/31 points (0.02%) at 29,759.25.
The price of the 10-year Treasury note was up 3/32, decreasing its yield to 2.967%. The price of the 30-year Treasury bond increased 4/32, bringing its yield down to 3.115%.
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