Last Week on NAPA Net

Highlights of the week of Feb. 11, 2013, included: Plan Design and Compliance • The Urban Institute cited a recent survey that auto enrollment may be causing plans to lower matches for current employees to keep costs stable. • Milliman reviewed 10 simple ways that participants can improve their 401(k) plan. • Treasury Secretary nominee Jack Lew questioned the effectiveness of 401(k) plans during his confirmation hearings. • Chris Carosa opined that the SEC’s delay on promulgating a uniform fiduciary standard could be costing retirement investors $1 billion per month. • John Carl of the Retirement Learning Center reviewed the special IRA rollover rules for airline employees. • Nevin Adams from EBRI highlighted the costs of loans and withdrawals. • Fidelity was sued for allegedly keeping float income illegally by participants seeking class action status. Investments • Flow into TDFs continued to break records in 2012. • John Miller of PIMCO reviewed the risks of using passive investments, especially for fixed income, in TDFs. Sales Strategies • More plans are remaining with their incumbent record keepers, according to surveys by Annova Consulting. • Even with new fee disclosure regs in place, small plans are still reluctant to take action. • New York Times columnist Andrew Sorkin reviewed a start-up that promises to show sales people how they are connected to prospects. • Marcus Chandler gave tips on how to get past the dreaded gatekeeper. NAPA and the Summit • Marcy Supovitz, NAPA’s Founding President, reviewed key new members like Morgan Stanley, Fidelity, Wells Fargo, Raymond James and Putnam, as well as a +90% renewal rate after NAPA's inaugural year. • Two of the 2013 NAPA/ASPPA 401(k) Leadership Award finalists, Jania Stout and Chad Larsen, were profiled. • Yaqub Ahmed from Franklin Templeton will team up with Josh Dietch from Chatham at the Summit to review ways advisors can improve business development strategies gleamed from win/loss surveys conducted last year.