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BY Nevin E. Adams, JD 9/17/2013
There’s an old saying: “You can lead a horse to water, but you can’t make him drink.” It’s a sentiment expressed by many a benefits manager (or retirement plan advisor) who has devoted significant time and effort to plan design, only to find the adoption rate by individual workers to be “...
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BY Fred Barstein 9/17/2013
As the retirement industry is fighting to keep money market funds in pension plans and the SEC considers reforms spurred by the Great Recession, others are questioning whether MMFs belong in DC plans at all. In comment letters to the SEC, pension executives argue that MMFs offer stability,...
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BY NAPA Net Staff 9/16/2013
Last week’s top five most-read posts on NAPA Net reflected keen interest in the potential impending 401(k) bidding war, postponement of the DOL’s fiduciary definition rule, the DOL’s claim to ownership over higher quality 401(k) plans, an AARP study showing increased demand for investment advice...
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BY Fred Barstein 9/16/2013
Speaking on a wide range of issues at last week’s Plan Sponsor Council of America conference, EBSA head Phyllis Borzi commented on a number of pending issues near and dear to the hearts of DC advisors and providers, including fee disclosure, lifetime income illustrations in participant statements...
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BY Fred Barstein 9/16/2013
This week, FINRA’s board will take up the issue of whether advisors will be required to report bonuses received when switching broker dealers. The issue had been on the agenda for their July board meeting, but scheduling delayed its consideration. FINRA said this:The board will consider an updated...
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BY Fred Barstein 9/16/2013
According to the benefits consulting firm Schneider Downs, the EBSA’s Office of Chief Accountant will be looking into the professional standards and compliance work of 400 ERISA auditors. Letters are expected to be sent out to plan sponsors requesting copies of the work papers; they will have 15...
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BY Fred Barstein 9/16/2013
The percentage of American workers expecting to work after turning 65 has risen more than three-fold since 1991, with 25% adjusting their timetable in just the past year, according to EBRI. More than a third (36%) of workers plan to work past 65, up from 11% in 1991 — with 7% indicating that they...
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BY Fred Barstein 9/13/2013
On Monday, Sept. 16, the CalPERS investment Committee will meet. The big topic: whether to move more aggressively to passive strategies. RIABiz’s Lisa Shidler describes how the retirement industry is closely watching the $260 billion bellwether pension fund, which already has 35% of its assets in...
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BY John Ortman 9/13/2013
In light of significant activity in Washington affecting retirement plans, the scope of NAPA’s upcoming quarterly webcast has been expanded to include an update on all regulatory and legislative developments, both recent and anticipated. The webcast, set for Sept. 24 at 2:00 PM ET, is sponsored by...
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BY John Ortman 9/12/2013
What are the current prospects for tax reform, especially in light of shifting priorities on Capitol Hill? NAPA Executive Director/CEO Brian Graff tackles that question in this month’s Washington Update video. As is often the case, the answer to the question involves numerous moving parts and what-...
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