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May 19, 2017
Good Day!
Some Participants Unaware They Are Retirement Ready
Whites Have More Sources of Retirement Income
Women Better at Saving and Investing Than They Think
Investment Products and Services Launches
EEOC Sues Ruby Tuesday for Age Bias
Benefits & Administration
Americans report they are worried about affording retirement, but over half say they aren’t saving money to retire. The lack of retirement savings could in part be due to prioritizing short-term financial considerations.   Read more »
Some Participants Unaware They Are Retirement Ready:
While many Americans are working past retirement age because they want to, several are doing so because they’re unaware they are financially secure enough to retire. Tim Walsh, senior managing director, TIAA-CREF, says this is something his firm has been working to counter in the non-profit sector.   Read more »
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Retirement Industry People Moves May 15 to May 19
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2016 Recordkeeping Survey
Whites Have More Sources of Retirement Income:
In addition to racial and ethnic differences in family wealth, African-Americans and Hispanics have less financial security than whites and will rely on fewer sources of income during retirement, according to a survey by The Associated Press-NORC Center for Public Affairs Research.   Read more »
Women Better at Saving and Investing Than They Think:
If you think men have greater success than women when it comes to saving and investing one’s money, a study from Fidelity may surprise you. Fidelity Investments client data analysis shows on average, women performed better than men when it comes to investing, and when comparing annual savings rates, women come out on top.  Read more »
Products, Deals and People
People’s biggest fear about retirement expenses is the cost of health care, cited by 41%, according to research by Voya Financial. A new white paper from Voya aims to help people get a better handle on health care costs in retirement.   Read more »
Investment Products and Services Launches:
Wisdom Tree unveils fixed income strategy; Fidelity launches ESG Index Funds; and Envestnet offering 3(38) investment service to TIAA clients.   Read more »
Economic Events
Initial jobless claims fell 4,000 to a seasonally adjusted 232,000 in the week ended May 13, the Labor Department said. The four-week moving average of initial claims, which evens out weekly volatility, decreased last week to 240,750.

The average interest rate for a 30-year fixed-rate mortgage is 4.02%, down from 4.05% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.27%, down from 3.29%.

Market Mirror
Thursday, the Dow was up 56.09 points (0.27%) at 20,663.02, the NASDAQ climbed 43.89 points (0.73%) to 6,055.13, and the S&P 500 increased 8.69 points (0.37%) to 2,365.72. The Russell 2000 closed 5.19 points (0.38%) higher at 1,361.07, and the Wilshire 5000 gained 90.97 points (0.37%) to finish at 24,589.19.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.229%. The price of the 30-year Treasury bond was up 9/32, decreasing its yield to 2.902%.

Compliance
EEOC Sues Ruby Tuesday for Age Bias:
The U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit that Ruby Tuesday, Inc. violated federal law by refusing to hire a qualified applicant at its Boca Raton, Florida, location because of his age.   Read more »
Small Talk

ON THIS DATE: In 1643, delegates from four New England colonies met in Boston to form a confederation. In 1796, the first U.S. game law was approved. The measure called for penalties for hunting or destroying game within Indian territory. In 1864, the Union and Confederate armies launched their last attacks against each other at Spotsylvania in Virginia. In 1906, the Federated Boys' Clubs, forerunner of the Boys' Clubs of America, were organized. In 1921, Congress passed the Emergency Quota Act, which established national quotas for immigrants. In 1935, the National Football League (NFL) adopted an annual college draft to begin in 1936. In 1967, the Soviet Union ratified a treaty with the United States and Britain that banned nuclear weapons from outer space. In 1974, Erno Rubik invented the puzzle what would later become known as the Rubik's Cube. In 1967, U.S. planes bombed Hanoi for the first time. In 1981, the Empire State Building was designated a New York City Landmark. In 1992, the 27th Amendment to the U.S. Constitution went into effect. The amendment prohibits Congress from giving itself midterm pay raises. In 2003, it was announced that Worldcom Inc. would pay investors $500 million to settle civil fraud charges over its $11 billion accounting scandal. In 2003, hundreds of Albert Einstein's scientific papers, personal letters and humanist essays were make available on the Internet. Einstein had given the papers to the Hebrew University of Jerusalem in his will.

 

And now it’s time for FRIDAY FILES!

This girl does not like her shadow following her around.   Read more »
In Salem, Virginia, one homeowner has found a way to keep bears out of the trash cans. Read more »
In Grand Isle, Louisiana, a teenager was fishing and made a humongous catch. He was able to reel in an 835-pound bluefin tuna. The Pensacola News Journal reports the bluefin measured a massive 86 inches in girth. [pic]   Read more »

In Plaistow, New Hampshire, a man thought he was clever donning a Home Depot apron in an effort to steal air conditioners. WMUR News reports the man was able to load two air conditioners into his pickup truck and went back inside the store. Then, the manager noticed the name tag with the name “Shannon” and flowers on it. He called police and told them no one named Shannon worked at the store.

 

In Round Rock, Texas, a man met a woman online and they decided to see the movie "Guardians of the Galaxy, Vol. 2". However, the woman kept texting during the movie, and when the man suggested she go outside and text, she left and never came back. The Austin American-Statesman reports the man is now suing the woman for the price of the movie ticket—$17.31.


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EDITORIAL

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

Rebecca Moore | NewsDash Editor | rebecca.moore@strategic-i.com

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