Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 6th, 2019
In 2013, Workers Removed $69 Billion from Retirement Savings
Withdrawals from IRAs accounted for most of the leakage, according to the GAO. Read more >
Average Deferral Rates Reach 10-Year High of 8.6%
And the use of 401(k) loans fell to a nine-year low of 22.5% in 2018, according to T. Rowe Price’s annual participant data benchmarking report. Read more >
SPARK Clears Up Definitions for Retirement Plan Cybersecurity
The SPARK Institute’s Data Security Oversight Board (DSOB) worked with definitional examples from national cyber standards, international regulations, state privacy laws, and client contracts and gathered insights from the plan consultant representatives on the board. Read more >
Retirement Industry People Moves
Cerity Partners Connects with Karsten Advisors; Former NFL Player-Turned-Investment Adviser Joins PlanMember Financial Corp; Mutual of Omaha Retirement Services Expands Sales Team; and more. Read more >
Principal Continues Focus on Asset Management, ‘Jet Fuel’ of the Business
Biden’s First Veto Keeps DOL’s ESG Rule in Place
Experts Predict Major Growth in Retirement Coverage, Benefits
Advisers Recommend Fiduciary Outsourcing Services, Mostly for Small Plans
Complying With the Custody Rule and the New Custody Proposal
Kestra Redesigns its Technology Platform for Advisers
Advisers can now access AdvisorComplete from any device and personalize its menus, widgets and landing pages. Read more >
When Savers Exceed the Limit
Strategies to help highly paid employees raise their income replacement ratio. Read more >
Market Mirror
Friday, the Dow was up 197.16 points (0.75%) at 26,504.95, the NASDAQ gained 127.22 points (1.58%) to finish at 8,164.00, and the S&P 500 increased 28.12 points (0.96%) to 2,945.64. The Russell 2000 climbed 31.37 points (1.98%) to 1,614.02, and the Wilshire 5000 closed 333.26 points (1.11%) higher at 30,460.77.   The price of the 10-year Treasury note was up 5/32, decreasing its yield to 2.524%. The price of the 30-year Treasury bond increased 7/32, bringing its yield down to 2.920%.   WEEK’S WORTH: For the week ending May 3, the Dow was down 0.14%, the NASDAQ increased 0.22%, and the S&P 500 was up 0.20%. The Russell 2000 gained 1.39%, and the Wilshire 5000 finished 0.30% higher.
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