On Wednesday, Shares of JPMorgan Chase & Co. (NYSE:JPM), lost -1.05% to $69.02.
J.P. Morgan Asset Management, released proprietary data from its second comprehensive survey of plan sponsors. The resulting white paper, “Aligning aims, improving outcomes: 2015 Defined Contribution Plan Sponsor Survey Findings,” reveals that although plan sponsors have a strong and growing sense of responsibility for assisting employees achieve a financially secure retirement, several disconnects exist between the aims they identify for their defined contribution (DC) plans and how they evaluate success. The white paper also presents actions plan sponsors can take to assist employees reach retirement with the income they will need.
Developed to better understand what drives retirement plan decision making, the survey of more than 750 plan sponsors first sought to identify the main disconnects between plan sponsor intent and strategy. For example:
- 75% of plan sponsors consider assisting ensure that employees have a financially secure retirement to be a highly important aim, up from 59% just two years ago
- Yet, the majority of plan sponsors still rank traditional aims, such as retaining quality employees (83%) and demonstrating a level of caring for them (80%), well above assisting employees to achieve outcome-related aims, such as financial security (75%) or the ability to retire at their targeted retirement age (66%)
- What’s more, some criteria for measuring outcome-related aims are not yet viewed as top priorities. The percentage of participants with account balances on track to replace 80% of final salary in retirement, while definitely growing in importance, is only ranked very or extremely important by 53% of respondents and remains last on the list of success criteria
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of Nabors Industries Ltd. (NYSE:NBR), inclined 0.42% to $14.47, during its last trading session, as oil prices declined Wednesday after data showed that crude-oil supplies shrank last week but inventories of refined products rose.
Light, sweet crude for August delivery settled down 74 cents, or 1.2%, to $60.27 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 96 cents, or 1.5%, to $63.49 a barrel on ICE Futures Europe, according to WSJ.
U.S. oil prices have gained 13% this year on expectations that the global glut of crude oil is due to shrink. WSJ Reports.
Nabors Industries Ltd., together with its auxiliaries, provides drilling and rig services. The company offers rig instrumentation, optimization software, and directional drilling services. It also provides completion, life-of-well maintenance, and plugging and abandonment of a well.
Finally, Fiat Chrysler Automobiles N.V. (NYSE:FCAU), ended its last trade with -2.03% loss, and closed at $15.47, after company’s CEO Sergio Marchionne made comments saying that the auto maker is not close to making an offer to GM (GM) shareholders concerning a possible merger with the company.
Fiat’s Marchionne made the comments at an event showcasing the company’s new Alfa Romeo vehicle model, according to Reuters.
Fiat Chrysler Automobiles N.V., an automotive group, designs, engineers, manufactures, distributes, and sells vehicles and components. It offers passenger cars, light trucks, and light commercial vehicles under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brand names, in addition to after-sales services and parts under the Mopar brand name.
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