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BY Kathleen Beichert 9/18/2013
Since May, interest rates around the world have generally risen, led by the U.S. and its Federal Reserve initiating a discussion on tapering its asset purchases. At OppenheimerFunds we continue to believe that the Fed will not actually begin hiking its policy rate until 2015, but the potential for...
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BY Fred Barstein 9/18/2013
As part of the process by ING US to become more independent, the parent company recently announced its intent to sell stock currently held in an S1 filing with the Securities and Exchange Commission. ING US, which eventually will be renamed Voya, went public on May 1, 2013, so underwriters had to...
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BY Fred Barstein 9/18/2013
Addressing the first annual NAPA DC Fly-in Forum on Sept. 17, Mark Iwry, the Department of Treasury’s Senior Advisor on Health Care and Retirement Policy, spoke about his auto-IRA proposal. The proposal is intended to address the coverage issue, as tens of millions of American workers still do not...
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BY Fred Barstein 9/17/2013
Call it “the Lehman Effect” or “the five-year witching hour,” but funds that suffered the most during the Great Recession are about to post stellar five-year returns — which they will no doubt be highlighting as net outflows for equity funds continue. According to a Wall Street Journal MarketWatch...
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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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