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BY Jenny Kiffmeyer, JD 9/20/2023
ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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BY Nevin E. Adams, JD 9/19/2023
Noting that “prolonged investigations carried out by federal agencies, such as EBSA, create tremendous strain on retirement plan sponsors,” two key House Republicans are pushing back.
In a Sept. 19 letter to Acting Secretary of Labor Julie Su, Rep. Virginia Foxx (R-N.C.), chair of the Education...
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BY Ted Godbout 9/19/2023
After experiencing a slower pace for the first nine months of 2023, RIA merger and acquisition (M&A) activity apparently regained its footing in the third quarter.
According to an update by DeVoe & Company, the firm expects the third quarter to be the first quarter that is higher than the...
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BY Ted Godbout 9/19/2023
While the pandemic may have induced a large wave of retirees to leave and later return to the workforce, a new report finds the trend of “working in retirement” is continuing to grow.
According to T. Rowe Price’s recent Retirement Saving & Spending Study, around 20% of retirees are working...
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BY Nevin E. Adams, JD 9/19/2023
The plaintiffs in one of the dozen or so cases involving the BlackRock Lifepath target-date funds (TDFs) have made it past the motion to dismiss stage.
In this case (Trauernicht et al. v. Genworth Financial Inc. et al., case number 3:22-cv-00532, in the U.S. District Court for the Eastern District...
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BY Nevin E. Adams, JD 9/19/2023
My “retirement” isn’t even a year old—and for the most part, it’s played out pretty much as planned. There was, however, an area that caught us a bit flat-footed.
For us (and this has very much been a joint effort between me and my wife), that surprise was…Medicare.
Don’t get me wrong; to date...
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BY Ted Godbout 9/19/2023
There’s some good new and some bad news in Goldman Sachs Asset Management’s (GSAM) just-released retirement report, which examines how plan participants are preparing for, transitioning to, and managing their finances in retirement.
On a positive note, more U.S. workers over the last year have...
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BY John Sullivan 9/18/2023
Democrats have reintroduced a bill during President Biden’s ongoing battle over student debt forgiveness to restore federal protections for Social Security benefits to prevent them from garnishment by the federal government for the repayment of all non-tax federal debt.
Sen. Ron Wyden (D-Ore.)...
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BY NAPA Net Staff 9/18/2023
HUB Retirement and Private Wealth (HUB RPW), a division of Hub International Limited (HUB), on Sept. 18 announced the launch of a new pooled employer plan (PEP) specifically designed for small- to mid-sized organizations.
Named the HUB Retirement Select 100+, the PEP targets employers with 100...
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BY Nevin E. Adams, JD 9/18/2023
Noting that “a fiduciary breach cannot exist where no fiduciary duty applies,” American Airlines has pushed back on a participant-plaintiff’s amended claims regarding ESG-biased investments in his 401(k) plan.
In a motion to dismiss the plaintiff’s amended suit, American Airlines reiterated that...
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