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May 11, 2017
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Conn. Voters Oppose Shifting Teacher Pension Costs to Cities
Lawmakers Introduce Bill to Stop Multiemployer Plan Benefit Cuts
Parties Reach Settlement in Church Plan Challenge
State-Plans for Private Sector Likely to Charge Ahead
The Evolution of Managed Accounts
Benefits & Administration
Due to strong market performance during Q1 2017, the funded status improved for the 100 largest public DB plans in the country, Milliman finds. Read more »
The funded status of the model pension plan examined by Sibson Consulting and Segal Marco Advisors rose 3 percentage points to 84% in the first quarter of 2017. Read more »
Conn. Voters Oppose Shifting Teacher Pension Costs to Cities:
Seventy-two percent of Connecticut voters oppose balancing the budget by using local property taxes, instead of state funds, to cover the teacher retirement costs, according to a statement from the Connecticut Education Association. To help with the state budget deficit, Governor Dannel Malloy proposed shifting one-third of the cost of teacher pensions to cities and towns. Read more »
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A Plethora of Data to Help DC Plan Sponsors Benchmark Plans
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401k Nondiscrimination Tests Explained
Market Mirror

Wednesday, the Dow closed 32.67 points (0.16%) lower at 20,943.11, the NASDAQ increased 8.56 points (0.14%) to 6,129.14, and the S&P 500 was up 2.71 points (0.11%) at 2,399.63. The Russell 2000 closed 7.73 points (0.56%) higher at 1,399.59, and the Wilshire 5000 gained 44.66 points (0.18%) to finish at 24,977.56.

The prices of the 10-year Treasury note and 30-year Treasury bond each were down 2/32, increasing their yields to 2.408% and 3.031%, respectively.
Compliance
Lawmakers Introduce Bill to Stop Multiemployer Plan Benefit Cuts:
Senator Bernie Sanders (I-Vermont) and Representative Marcy Kaptur (D-Ohio) introduced legislation, The Keep Our Pension Promises Act, which would reverse a provision passed in 2014 that could result in deep pension cuts for millions of retirees and workers in multiemployer pension plans. The new legislation establishes a legacy fund within the Pension Benefit Guaranty Corporation. Read more »
Parties Reach Settlement in Church Plan Challenge:
A preliminary settlement has been reached in a case challenging the “church plan” status of pension plans for Franciscan Missionaries of Our Lady Health System. The health system has agreed to make payments to its pension plans over five years, among other terms. Read more »
State-Plans for Private Sector Likely to Charge Ahead:
The moves by Congress to deny ERISA safe harbor to state- and city-run plans for private-sector workers won’t have a big effect so long as the fiduciary rule is also overturned, one provider CEO says. Read more »
Investing
The Evolution of Managed Accounts:
As managed account assets climb, these solutions are seeing major shifts in product development, and they can be especially efficient for certain participant demographics. Read more »
Small Talk
ON THIS DATE: In 1647, Peter Stuyvesant arrived in New Amsterdam (later New York) to become governor. In 1858, Minnesota was admitted as the 32nd U.S. state. In 1910, Glacier National Park in Montana was established. In 1927, The Academy of Motion Picture Arts and Sciences was founded. In 1934, a severe two-day dust storm stripped the topsoil from the great plains of the U.S. and created a "Dust Bowl." The storm was one of many. In 1947, the creation of the tubeless tire was announced by the B.F. Goodrich Company. In 1997, Garry Kasparov, world chess champion, lost his first ever multi-game match to IBM's chess computer Deep Blue. It was the first time a computer had beaten a world-champion player.
SURVEY SAYS: Sunday is Mother’s Day. Every year on Mother’s Day I would go visit my mother with a gift and her grandchildren. My mother has passed, and this year I am going to take some special aunts out to lunch the day before and go to lunch with my son on Mother’s Day. This week, I’d like to know, what, if any, plans do you have for Mother’s Day? You may respond to this week’s survey by 6 p.m. Pacific time today. Read more »
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EDITORIAL

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

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