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BY John Carl 12/11/2012
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 from an advisor in Michigan is representative of a common...
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BY NAPA Net Staff 12/11/2012
When you’re trying to help plan participants move the ball on their retirement planning, the first step can be the hardest: “unlearning” mistaken beliefs. Financial literacy can only be built on a foundation of truth.Most retirement plan advisors whose practices include a significant “retail”...
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BY NAPA Net Staff 12/11/2012
The U.S Department of Labor's Employee Benefits Security Administration announced Dec. 11 a proposed rule and related class exemption that will make it easier for Chapter 7 bankruptcy trustees to distribute assets from bankrupt companies' retirement plans. The proposal would allow Chapter 7...
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BY NAPA Net Staff 12/11/2012
Echoing the refrain from the Beatles classic, “Strawberry Fields Forever,” PIMCO’s Bill Gross predicts slower growth of the economy over the next decade, or a “new normal” of 2%. While it’s understandable that “living is easy with eyes closed, misunderstanding all you see,” Gross explains how...
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BY NAPA Net Staff 12/11/2012
In what is shaping up to be a seminal case addressing whether states can change and reduce their unfunded pension liabilities, Rhode Island state officials asked the courts to dismiss challenges by state employee unions to planned reforms in the state’s pension system. With an estimated $1.4...
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BY NAPA Net Staff 12/11/2012
Updating recent auto-enrollment research across its retirement clients, New York Life Retirement Plan Services found that over time, plans with auto-enrollment saw steady deferral increases and sustained high participation, versus the opposite in plans without auto-enrollment. According to a New...
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BY NAPA Net Staff 12/11/2012
While the fiscal cliff negotiations are putting tax incentives for retirement savings on the front line, 11 members of Congress have voiced their support for the employer-based retirement system by co-sponsoring a “Sense of the Congress” resolution introduced Dec. 6 by Sens. Richard Blumenthal (D-...
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BY Robert J. Rafter 12/10/2012
The Department of Labor will re-propose its controversial rule to amend the definition of fiduciary under ERISA within several months, Phyllis Borzi told Advisor One on Dec. 7. Borzi indicated that DOL “is not finished” with the rule, and went on to say that agency officials are addressing many of...
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BY NAPA Net Staff 12/10/2012
With more money moving to passive strategies, there’s a subculture that falls under the rubric of “Smart Beta.” Smart Beta generally refers to non-market-cap-weighted, systematic strategies that aim to add value by improving returns and/or providing lower volatility compared with the market-cap...
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BY NAPA Net Staff 12/10/2012
Even in the face of research and logic that shows how auto enrollment and auto escalation improve plan outcomes, plan sponsors are still reluctant (free registration required). In a survey of 118 plan executives (mostly from larger plans) by the Defined Contribution Institutional Investor...
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