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Top Stories

By John Ortman8/1/2014 • 0 Comments

As the DC market matures, a power struggle is emerging between record keepers and advisors. As the advisor world moves toward fee-based fiduciary plan advisors who are forming teams, some providers are adjusting. But others are stuck in a pre-Great Recession world — even as all signs are pointing toward a new world in which power is shifting from record keepers to advisors facilitated by DCIO firms. READ MORE

By Fred Barstein8/1/2014 • 0 Comments

In an effort to shore up Chicago’s pension funds while avoiding property tax increases, the city is moving forward to increase taxes on cellphones and land lines by 56%. The move, which could cost a family of four an extra $34 per year, was reported to be part of a deal between Chicago Mayor Rahm Emanuel (D) and Illinois Gov. Pat Quinn (D) that will avoid raising property taxes in exchange for Quinn signing a bill that will increase city worker contributions by 29% while limiting benefits. READ MORE

By John Iekel8/1/2014 • 0 Comments

A secure retirement and adequate retirement savings are targets many Americans can attain. That’s the conclusion that Prudential has reached, based on research by Boston College’s Center for Retirement Research. In its most recent National Retirement Risk Index, the center found that to maintain the standard of living they had before retirement, the average American household needs their 401(k) to provide 35% of income during retirement. The exact percentage varies by income level.
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By Fred Barstein7/31/2014 • 0 Comments

As expected, NFP announced July 29 that 401(k)Advisors and RPAG have been integrated into NFP, with Vince Giovinazzo and Nick Della Vedova leading the retirement program there. Separately, it was reported that Fred Greenstein, who had previously recruited advisors for Financial Telesis (FTI) in addition to working with RPAG, has joined NFP. 
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By Ray Harmon7/31/2014 • 0 Comments

The U.S. Senate passed legislation July 29 to fund the nation’s Highway Trust Fund — legislation that does not include a pension smoothing provision. The vote tally on the $8.1 billion bill was 79-18.  READ MORE

Recent Columnist Articles

While the prospects for “comprehensive tax reform” may seem remote in this highly charged election year, the current tax preferences accorded employee benefits continue to be a focus of much discussion among policymakers and academics. Retirement plan advisors might well be inclined to gloss over such things, but the reality is that those who write the laws and enforce the regulations that govern plan design and operation are listening — and listening with interest — to proposals that seem either to right “wrongs” (without costing money), or better still, proposals that claim to raise revenues.   
Narrowing the Range of Investor Outcomes

In a recent article in The New York Times, “In Investing, 'When' Matters Just as Much as 'What,'” the author illustrates a hard truth about investing: When investors start saving has a dramatic impact on the amount of money they will have at retirement. 
Case of the Week: Excess Deferrals Involving More Than One Plan

Responding to a question from an advisor in Massachusetts, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common inquiry about a 401(k) plan participant’s annual Section 402(g) limit on salary deferrals.

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