Last Week on NAPA Net

Highlights of our posts for the week of March 18 included: Legal/Legislative • The 9th U.S. Circuit Court of Appeals has affirmed Tibble v. Edison, a district court opinion that a plan sponsor was imprudent for including retail mutual funds without investigating the possibility of institutional share classes. • The DOL’s recent ING settlement raises some thorny questions about gains that providers might receive from reversing transactional errors. Steven M. Saxon and George M. Sepsakos of the Groom Law Group provide their take. • A bill introduced by Sens. Bill Nelson (D-FL) and Mike Enzi (R-WY) would allow participants to repay their loans or withdrawals when taxes are due, not within 60 days after they leave employment. • A closer look at California’s landmark auto-IRA legislation, the California Secure Choice Savings Trust Act. Plan Optimization • With more focus on fees by plan sponsors and the industry as a whole, is it time for advisors to start considering collective investment trusts? • Highlights of the recently completed Q4 2012 report on stable value from the Blue Prairie Group. Compliance • A Technical Update from Sungard Relius offer all you’ll ever want to know about the ordering rule for correcting Section 415 violations. • The Case of the Week addressed traditional-to-Roth IRA conversions. • Addressing financial advisors’ use of social media, the SEC has issued guidance on what should and should not be considered an advertisement subject to the 10-day review rule. • Will the move toward a common fiduciary standard for all advisors under new authority granted to the SEC result in a move toward a common regulator as well? That’s what FINRA Chief Executive Richard Ketchum wants, it seems. Voices • Much of today’s retirement planning tends to focus on things over which individual retirement savers (and the advisors who work with them) have no control — things like investment returns, notes NAPA Net Portal Conductor Nevin Adams of EBRI. • Transamerica’s Steve Smith explains the benefits of fund revenue equalization recordkeeping technology. • NAPA has some big plans for the rest of 2013. Marcy Supovitz, NAPA’s president, offers a glimpse of what’s in the works.