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BY Glenn Merten, Emily Kile-Maxwell and Fred Reish 3/18/2024
Litigation against a plan sponsor inevitably draws in the plan’s investment advisor and can cause significant costs and disruption. Here’s what to do.
Employee Retirement Income Security Act (“ERISA”) litigation continues at a rapid pace and with massive settlement numbers. Most recently, General...
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BY NAPA Net Staff 3/17/2024
What's in the episode?
Defined contribution plans, and 401(k)s specifically, are increasingly under attack, criticized by think tanks and academics for perceived (yet easily refuted) flaws. What—and who—is behind the effort? Are the criticisms resonating and why are they happening now? Does the...
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BY NAPA Net Staff 3/17/2024
It’s official! We are proud to announce our list of 2024 NAPA Top DC Advisor Teams with assets under advisement over $100 million.
Unlike other lists, this one focuses on firms (or in a wirehouse environment—teams) located in one physical location and the defined contribution portion of their...
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BY Ted Godbout 3/15/2024
In what may come as no surprise, a new survey that looks at plan sponsor attitudes toward retirement plan management finds that plan sponsors that use outsourced fiduciaries highly value the service as an important backstop.
When asked what resources they currently use to help manage fiduciary...
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BY NAPA Net Staff 3/15/2024
Nationwide is teaming up with Morningstar Retirement to help advisors meet retirement plan participant needs by offering a new managed account service that merges custom retirement strategies with direct advisor involvement.
Consequently, financial advisors who work with institutional and...
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BY John Sullivan 3/15/2024
It’s increasing, but is it enough?
Stubbornly high inflation has The Senior Citizens League (TSCL) raising its 2025 COLA estimate to 2.4%, based on the Bureau of Labor Statistics’ Consumer Price Index (and increase of 3.2%) released Tuesday.
While it’s still very early, the one percentage point...
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BY Nevin E. Adams, JD 3/15/2024
Well, here we are again at the end of yet another workweek…and yet, just look at what has happened to these guys and gals…
In Woodland Hills, California, they’re building a new walking bridge across some busy highways here…but you probably won’t be using it…
From somewhere in the UK, George...
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BY John Sullivan 3/14/2024
Tom Hansen and Tony Michael didn’t like the limitations of the recordkeeping software available on the market, so they built their own.
The proprietors of inVesti Financial developed inVesti-RKS (Record Keeping Services) platform and successfully integrated this week with UMB Bank and Matrix...
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BY Nevin E. Adams, JD 3/14/2024
In a lengthy filing (109 pages), Yale University says the plaintiffs who lost their excessive fee case in a jury trial shouldn’t get a “do over.”
More specifically, the Yale fiduciary defendants in that case have filed the aforementioned brief stating that the Second Circuit need not concern...
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BY John Iekel 3/14/2024
The IRS has confirmed that they expect to fix a system-wide glitch that has resulted in improperly withheld refunds of erroneous penalties related to Form 8955-SSA filings.
Kelsey Mayo, the American Retirement Association’s Director of Regulatory Policy, reports that some plan sponsors’ refunds...
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