Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 30th, 2018
Senator Reintroduces American Savings Act
The legislation would establish a personal retirement account for every American that they could take with them from job to job. Read more >
Prudential and Raytheon Announce Pension Risk Transfer Deal
Raytheon is the latest large employer to enter into a group annuity transaction, transferring nearly $1 billion in benefit obligations to Prudential. Read more >
ERIC Calls on DOL to Issue Detailed Missing Participant Guidance
The letter also asks that until guidance is provided, for the DOL to stop issuing letters that allege an employer has committed a breach of fiduciary duty with respect to the practices utilized to locate missing retirement plan participants. Read more >
Will the More Evenly Divided Senate Tackle HSAs This Year?
“Although budget pressures have put limits on some reforms and the Senate outlook this year is dim, the proposed changes indicate the direction that many Republicans and more than a few Democrats would like to take,” writes Tracy Watts, Mercer’s leader on health care reform. Read more >
Many Retirees Spending More Than They Expected
First Deadline Looming for SEC Electronic Disclosure Compliance
Bristol-Myers Squibb to Terminate $3.8 Billion Pension
Employee Knowledge Levels Indicate Need for Financial Wellness Education
Butch Lewis Act Said to Fail to Address Multiemployer Pension Deficits
Four Multiemployer Pension Plans Apply to Treasury to Reduce Benefits
They are seeking reductions as high as 50%. Read more >
Retirement Industry People Moves
Wilshire Adds Senior Investment Professionals; Ladenburg Thalmann Invests in Tax Automation Provider; Southern Maryland Insurance Joins The Hilb Group; and more. Read more >
Market Mirror
Friday, the Dow closed 76.01 points (0.30%) lower at 25,451.06, the NASDAQ lost 114.77 points (1.46%) at 7,737.42, and the S&P 500 Index finished 18.63 points (0.66%) lower at 2,818.82. The Russell 2000 lost 32.02 points (1.89%) to 1,663.34, and the Wilshire 5000 lost 248.98 (0.84%) points to finish at 29,321.74. The price of the 10-year Treasury bond increased 5/32, lowering its yield to 2.958%. The price of the 30-Year Treasury bond increased 9/32, lowering its yield to 3.085%.   WEEK’S WORTH: For the week ending July 27, the Dow closed 1.57% higher, the NASDAQ lost 1.06%, and the S&P 500 increased 0.61%. The Russell 2000 fell 1.97%, and the Wilshire 5000 was up 0.12%.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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