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BY Ronald J. Triche 10/4/2013
As discussed in my June 27, 2013 post, the U.S. Supreme Court ruled in United States v. Windsor that Section 3 of the Defense of Marriage Act (DOMA) is unconstitutional. On Aug. 29, 2013, the IRS issued preliminary guidance regarding the effects of Windsor in Revenue Ruling 2013-17. On Oct. 4, 2013...
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BY Fred Barstein 10/4/2013
Like a snow day for students when a test is scheduled, some DOL investigations and actions will be delayed as a result of the government shutdown. Extensions on some DOL litigation have already been filed, and routine functions will be put on hold. There will be exceptions, however, including cases...
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BY NAPA Net Staff 10/3/2013
With the 2014 NAPA 401(k) Summit now just over five months away, the pieces of what promises to be a standout program are starting to fall into place. The latest news: two influential congressional insiders — Rep. Charles Boustany (R-LA) and former congressman Jim McCrery (R-LA) have signed on as...
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BY Fred Barstein 10/3/2013
And the beat goes on. DC record keeping fees continue to decline sharply, according to a study of larger plans by consultant NEPC. Even as account balances continue to rise under favorable market conditions and expense ratios remain steady, record keeping fees are declining at a rapid and alarming...
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BY Fred Barstein 10/3/2013
The question is when, not if, interest rates will rise. Here are some options plan sponsors are adding to prepare, according to P&I:• shorter duration bonds• international bonds• TIPs and funds that include them• unconstrained bondsPassive bond funds are also falling out of favor.But just as...
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BY John Ortman 10/3/2013
In last week’s Reader Poll we asked, "What is the median number of years plan sponsors with less than $5MM in assets have been with their current record keeper?" Here are the results of the voting, expressed in percentages:3 years: 12%7 years: 73%9 years: 3%12 years: 9%Other: 3%This week’s Reader...
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BY John Carl 10/2/2013
The ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs and qualified retirement plans. A recent call with an advisor in California is representative of a common...
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BY Fred Barstein 10/2/2013
The Beesly v. International Papers lawsuit — whose plaintiffs were represented by Jerry Schlichter’s law firm — has been settled for $30 million. The same judge who recently ruled on the Spano v. Boeing case, which was allowed to go forward after an amended complaint about class action...
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BY Ronald J. Triche 10/2/2013
A subcommittee of the SEC’s Investor Advisory Committee has submitted a draft “Recommendation of the Investor as Purchaser Subcommittee Broker-Dealer Fiduciary Duty” in advance of a scheduled Oct. 10, 2013 meeting of the Committee. The draft document from the Committee’s “Investor as Purchaser”...
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BY Fred Barstein 10/2/2013
Today is the first anniversary of NAPA Net and the Daily. We’ve been overwhelmed by the response, not just in terms of the number of people opening the Daily (~25,000/week) and visiting the site (~22,000/month) but also the many comments we’ve received in person and online. Frankly, we’re surprised...
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