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May 9, 2017
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Employers Taking Various Steps to Manage Health Care Costs
Equity Rally Helped Pension Funding in April
Millennials Need More Investing Advice
Wagner Law Group 403(b) Plan Document Approved by IRS
Wells Fargo Offers Annuity Option for DC Plans
Benefits & Administration
Employers Taking Various Steps to Manage Health Care Costs:
Recognizing that no single change will radically transform the cost structure of health care programs, U.S. employers are instead following a strategy of taking many concurrent steps to manage costs, according to a survey by Willis Towers Watson. Employers said their top three priority changes for 2017 are: increasing employee point-of-care costs by adjusting deductibles, out-of-pocket maximums and out-of-network coinsurance (51%); modifying vendor strategies by expanding wellness programs or changing vendor partners (32%); and adding new provisions to prescription drug plans to encourage appropriate utilization (30%). Read more »
Equity Rally Helped Pension Funding in April:
While one source says pension funded status remained level and another says it dipped in April, both agree equity markets were a positive for pension plans during the month. Read more »
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Millennials Need More Investing Advice:
Millennials are much more likely to make risky investment decisions compared to other generations, according to a study by MassMutual Life Insurance Co. The firm finds these investors are inclined to make poor investment decisions by reacting to market volatility. They also seek financial advice at a smaller rate than other generations. Read more »
Products, Deals and People
Consulting firm FiduciaryVest has licensed InHub’s eRFP technology. The enterprise license will allow the consulting firm to streamline the process, increasing capacity to take on more search projects while still providing a highly-customized and comprehensive evaluation process for their clients. Read more »
Wagner Law Group 403(b) Plan Document Approved by IRS:
The Wagner Law Group, an Employee Retirement Income Securities Act (ERISA) and employee benefits law firm, has received Internal Revenue Service (IRS) approval of its volume submitter 403(b) plan. Wagner says its volume submitter 403(b) plan has flexible design options to meet the needs of most 403(b) plan sponsors. Read more »
Wells Fargo Offers Annuity Option for DC Plans:
Wells Fargo Institutional Retirement and Trust is collaborating with MetLife to give retirement plan sponsors a new annuity option. MetLife Retirement Income Insurance is a qualifying longevity annuity contract (QLAC) available for Wells Fargo Institutional Retirement and Trust clients. Read more »
Market Mirror

Yesterday, the Dow was up 5.34 points (0.03%) at 21,012.28, the NASDAQ increased by 1.90 (0.03%) to 6,102.66, and the S&P 500 was virtually unchanged at 2,399.38. The Russell 2000 closed 27.07 points (1.98%) higher at 1,391.63, and the Wilshire 5000 decreased 21.07 points (0.08%) to 24,954.79.

The yield for the 10-year Treasury note was 2.39%, and the yield for the 30-year Treasury bond was 3.02%.
Investing
Institutional plan sponsors netted investment gains of 4.2% at the median in the first quarter of 2017, according to Northern Trust Universe data. According to Northern Trust, the data belies the sixth consecutive three-month period of gains for institutional asset owners, with equities providing the bulk of positive performance in the quarter. Read more »
Small Talk
ON THIS DATE: In 1502, Christopher Columbus left Spain for his final trip to the Western Hemisphere. In 1754, the first newspaper cartoon in America showed a divided snake "Join or die" in "The Pennsylvania Gazette." In 1926, Americans Richard Byrd and Floyd Bennett became the first men to fly an airplane over the North Pole. In 1955, West Germany joined NATO. In 1960, the U.S. Food and Drug Administration (FDA) approved for sale an oral birth-control pill for the first time. In 1961, Jim Gentile (Baltimore Orioles) set a major league baseball record when he hit a grand slam home run in two consecutive innings. The game was against the Minnesota Twins. In 1974, the House Judiciary Committee began formal hearings on the Nixon impeachment. In 1994, Nelson Mandela was chosen to be South Africa's first black president.
TRIVIAL PURSUITS: When was the first Internet spam message sent? Read more »
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EDITORIAL

Alison Cooke Mintzer | Editor-in-Chief | alison.mintzer@strategic-i.com

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