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BY Fred Barstein 9/25/2013
In an exclusive interview with Chris Carosa of FiduciaryNews, EBSA Director Phyllis Borzi weighs in on several key topics — including her agency’s commitment to redefining the fiduciary rule to protect investors from what she calls “conflicted advice.” The proposed rule is moving forward, though...
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BY Andrew Remo 9/25/2013
Congress is set to play a high stakes game of political chicken this week over federal government spending as the end of the 2013 fiscal year rapidly approaches. If a resolution of this issue is not achieved by next Tuesday, Oct. 1, a shutdown of the federal government will occur. Last week, the...
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BY Fred Barstein 9/25/2013
Commenting on what he calls the biggest inside joke that almost everyone has caught on to, advisor Alex Murguia officially pronounced the death of automatic “out-of-office” email responses. Here’s what people really think when they get your out-of-office response:• There’s 10 seconds of my life I’...
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BY NAPA Net Staff 9/24/2013
Last week’s top 5 most-read posts on NAPA Net reflected keen interest in Phyllis Borzi’s comments on the state of the fiduciary definition rule, the NAPA DC Fly-in Forum, the DOL’s adoption of the IRS’ revenue ruling recognizing same-gender spouses, 5-year returns for funds crushed in the 2008...
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BY John Carl 9/24/2013
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 a financial advisor in New York is representative of a...
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BY Fred Barstein 9/24/2013
NAPA has launched the NAPA Research Institute (NRI), naming Warren Cormier as its Executive Director. Cormier is also President and Founder of the Boston Research Group and Co-Founder of the BeFi Forum (now part of the Rand Institute) with Prof. Shlomo Benartzi.Though the DC industry generates a...
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BY Fred Barstein 9/24/2013
Should your clients have separate committees — one focused on fiduciary matters like investment and provider selection and monitoring, and the other focused on so-called settlor functions like plan design? This question was discussed recently by a panel of experts at the PSCA’s 66th annual...
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BY Fred Barstein 9/24/2013
Think that DC plan participant education is dead? Stanford Graduate School of Business professor Joshua Rauh thinks otherwise. He’s teaching an eight-week online course about the fundamentals of retirement plan investing for private as well as public pension plans. Rauh’s course is intended to help...
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BY Fred Barstein 9/23/2013
ERISA expert Fred Reish raises the question of who at the plan sponsor should be receiving disclosure documents. In a rush to get mass disclosure documents out last year, service providers may have inadvertently sent some of them to the wrong person. According to Reish, the right person is the so-...
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BY Fred Barstein 9/23/2013
As previously reported on NAPA Net, FINRA approved a proposal requiring brokers to disclose recruitment compensation paid to them as an incentive to move to a new firm. The proposal will be submitted to the SEC for review and approval. Three types of payments would trigger disclosure:1. Recruitment...
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