A Little Friday File Fun

And now it's time for FRIDAY FILES!

In New Jersey, better think before taking that drink before flying a drone. New Jersey Governor Chris Christie signed a law making it illegal to fly an unmanned drone aircraft after too many drinks, a spokesman said on the Republican’s last day in office. The law prohibits flying a drone with a blood alcohol content of 0.08% or higher, the same as for driving a vehicle, or while drugged. Violators face up to six months in jail, a $1,000 fine or both. The measure also bars flying a drone near a prison or in pursuit of wildlife.

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In Prince William County, Virginia, a woman exited a 7-Eleven convenience store when two men, one with a handgun, approached and demanded her vehicle. According to the Associated Press, police say the woman struck one man with her bag before her 22-year-old daughter threw her hot chocolate toward both men, who then fled on foot.

In Seymour, Connecticut, a man walked into a bank and handed the teller a note. “This is a robbery, give me 5,000 nobody gets shot,” it read, according to the Valley Independent. The teller gave $500 cash to the man. But, it didn’t take long for detectives to find him after discovering the note he left at the bank was written on the back of his girlfriend’s pay stub. They went to the girlfriend’s home address and caught the man as he was trying to leave.
You never know what’s under the leaf pile.

If you can't view the below video, try https://youtu.be/QFMTn0ndUQY.
You think it’s been cold where you are? In the Yakutia region of Russia, temperatures hit minus 67 degrees Celsius (minus 88.6 degrees Fahrenheit) in some areas. The Associated Press reports that students routinely go to school even in minus 40 degrees. But school was canceled Tuesday throughout the region and police ordered parents to keep their children inside. On social media, women posted pictures of their frozen eyelashes.
In Santa Ana, Calfiornia, a speeding car soared off a median divider and into a second-floor dental office. The vehicle lodged there as cops and rescuers arrived to extinguish a small fire and help extract one of the occupants, the Orange County Fire Authority noted in a series of tweets. Another car occupant exited unassisted. Both had minor injuries. Authorities say the driver had been using drugs.
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Participants Made Record-Low Number of Trades in 2017

Part of the very light trading activity can be explained by the prevalence of target-date funds, the largest asset class in the Alight Solutions 401(k) index.

2017 was the slowest trading year in the 20 year history of the Alight Solutions 401(k) Index.

According to the latest data published by Alight Solutions, there were 13 days of above-normal daily transfer activity in 2017—less than half the number in 2016 (28) and the trailing 5-year and 10-year averages (30 and 32 days, respectively).

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“Part of the light trading activity can be explained by the prevalence of target-date funds, the largest asset class in the 401(k) Index,” the firm reports. “The percentage of assets invested in target-date funds grew in 2017 from 24.1% at the beginning of the year to 27.2% by the end of the year. Much of this growth can be attributed to the fact that target-date funds receive the lion’s share of new 401(k) contributions.”

In 2017, 43% of all contributions were made to target-date funds.

“Strong investment returns also likely contributed to the light trading activity,” Alight reports. “2017 proved to be a generally positive year for investors. Large cap U.S. equities (represented by the S&P 500 Index) and international equities (represented by the MSCI All Country World ex-U.S.A. Index) provided strong returns with little volatility throughout the year.”

On the fixed-income side, bonds (represented by the Bloomberg Barclays Capital U.S. Aggregate Bond Index) and small cap U.S. equities (represented by the Russell 2000 Index) both experienced periods of volatility. But in the end both still provided positive returns over the last 12 months.

“During the 20-year history of the 401(k) Index, trading activity typically spikes when there is a downturn in the market,” confirms Rob Austin, head of research at Alight. “In general, 2017 saw the markets steadily rise, so rather than rebalancing, 401(k) investors stayed the course and enjoyed positive market returns.”

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