Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 12th, 2018
Aggressive Saving Is Simply Essential for Retirement Adequacy
A detailed analysis prepared by Aon suggests the typical worker would have to start saving at age 25 and put away 16% of pay annually—including the employer retirement plan match—to achieve a stable retirement outlook by age 67. Read more >
Fidelity Faces a Myriad of Allegations in New ERISA Lawsuit
In addition to self-dealing allegations, the complaint calls out Fidelity for not negotiating revenue sharing refunds for its 401(k) plan participants and not considering stable value options for its plan investment lineup, among other things. Read more >
Americans’ Top Financial Concern is Retirement Savings
However, only 33% are confident about their retirement readiness. Read more >
Deloitte Suggestions Could Help Plan Sponsor Clients Address Loan Leakage
A report from Deloitte explores mechanisms to prevent loan leakage, including policy changes to plan design, loan education programs, debt consolidation, payroll program automation, and 401(k) loan insurance. Read more >
Why Small Business Owners Often Resist 401(k)s
'Massive' Fraud Charges Trigger Allianz Global Investors U.S. Sale to Voya
NFP Named as Defendant in Parallel Molina Healthcare ERISA Suit
Retirement Industry People Moves
Barnabas Health Latest to Settle ERISA Suit
Sponsored message from Schwab Retirement Plan Services, Inc.
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Excitement About Living Longer Overshadowed by Retirement Worries
Nearly three-quarters (72%) of respondents to a TD Ameritrade survey indicated they do not believe Social Security will cover their spending in retirement, and 51% said they do not believe they’ll have more than enough money to cover their needs in retirement. Read more >
Social Security Benefits to Increase 2.8% in 2019
This is in keeping with a rise in the DOL’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Read more >
Market Mirror
Thursday, the Dow lost 545.91 points (2.13%) to finish at 25,052.83, the NASDAQ closed 92.99 points (1.25%) lower at 7,329.06, and the S&P 500 decreased 57.32 points (2.06%) to 2,728.36. The Russell 2000 was down 30.03 points (1.91%) at 1,545.38, and the Wilshire 5000 fell 569.01 points (1.98%) to 28,198.47. The price of the 10-year Treasury note was up 6/32, decreasing its yield to 3.146%. The price of the 30-year Treasury bond increased 14/32, bringing its yield down to 3.322%.
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