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BY NAPA Net Staff 12/17/2012
New York Times business columnist Gretchen Morgenson lauded the attempt by the EBSA’s Phyllis Borzi to change the rules related to the retirement plans of bankrupt companies. Reviewing the plight of Penn Specialty, whose $4 million plan remained in limbo while the company went through bankruptcy...
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BY NAPA Net Staff 12/14/2012
Advisors and industry professionals know that training, certification and continuing education are important — not just for personal and professional growth but also because clients value it. In fact, according to industry research, 95% of plan sponsors value advisor credentials, and 90% are more...
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BY NAPA Net Staff 12/14/2012
Behavioral Finance, or “Befi,” made famous in the DC world by UCLA professor Shlomo Benartzi, may be one of the most overused and least understood terms in our industry. Professionals from Sibson Consulting, a division of Segal, provide a basic and easy-to-understand guide to Befi, including...
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BY NAPA Net Staff 12/14/2012
Are advisors who are not parties in interest or ERISA fiduciaries liable if they knowingly participate in a prohibited transaction and receive compensation from plan assets? The 3rd U.S. Circuit Court of Appeals thinks so.In the case at issue, employers had established a trust within an ERISA-...
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BY NAPA Net Staff 12/13/2012
Proposals to scale back or eliminate retirement savings incentives in 401(k) plans not only endanger the ability of low- and moderate-income workers to enjoy secure retirements but are based on faulty math, Forbes columnist Jeffrey Brown points out in a Dec. 12 column.Here’s why: When evaluating...
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BY NAPA Net Staff 12/13/2012
Bringing about significant change is a three-step process. It begins with awareness, followed by willingness and capped by action. Though the recent plan- and participant-level fee disclosures might have started the industry on the process, clearly we have a long way to go. After interviewing...
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BY NAPA Net Staff 12/13/2012
Should enrollment meetings be limited to 10 minutes or less? A paper authored by Diversified makes a strong case. New employees can be burnt out after days and maybe weeks of new employee orientation, so a 45 minute meeting reviewing plan features like loans, distribution and especially investments...
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BY NAPA Net Staff 12/13/2012
Editor’s Note: This article was published in the most recent issue of "Market Beat," published by the National Tax Sheltered Accounts Association (NTSAA), the nation's only independent, non-profit association dedicated to the 403(b) and 457 markets. Used with permission.By Ellie Lowder, TGPC,...
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BY NAPA Net Staff 12/13/2012
The death of mutual funds in 401(k) plans is greatly exaggerated, especially in smaller and mid-sized plans, according to a survey (free registration required) conducted by Cerulli with help from the PSCA and data from the DOL. Though collective investment trusts (CITs) are cheaper and offer more...
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BY NAPA Net Staff 12/12/2012
Curtailing the current tax treatment of contributions that workers and their employers make to 401(k) plans will significantly reduce employers’ willingness to sponsor plans and employees’ ability to save, according to a survey of more than 500 companies conducted by Mathew Greenwald &...
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