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BY Nevin E. Adams, JD 9/11/2023
A federal judge has held that a participant that wasn’t invested in the funds in question lacked standing to bring suit—and that his claims about excessive recordkeeping fees weren’t specific enough.
The suit—filed less than a year ago in the U.S. District Court for the Middle District of North...
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BY NAPA Net Staff 9/10/2023
Sponsored By:
Fee compression and commoditization have hit every area of financial services--retirement advisors are no exception and it’s only slated to get worse. Why, and how is it addressed?
Much more will have to be done with much less, but it will create resilience and will improve the...
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BY NAPA Net Staff 9/9/2023
The Department of Labor sent a new version of a proposed fiduciary rule to the Office of Management and Budget late Friday for review.
Known officially as “Conflict of Interest in Investment Advice,” it would redefine fiduciary investment advice under the Employee Retirement Income Security Act...
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BY Nevin E. Adams, JD 9/8/2023
Well, here we are again at the end of yet another workweek …and yet, there’s no shortage of…well, just look at what happened to these guys and gals…
First, some odds and ends…
While there are some general tips on dealing with a bear encounter (“alert the bear to your presence, get back, stay calm...
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BY Nevin E. Adams, JD 9/8/2023
Much is made of the importance of work/life “balance”—so how is it playing out in your practice(s)?
Somewhat problematically, there seems little consensus on exactly what that “should” be—more just a general sense that it might shift from time to time, and that there does, in fact, need to be some...
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BY John Sullivan 9/7/2023
SECURE 2.0 made it easy(er) for small businesses, in particular, to start and fund a retirement plan. Whether through the Starter 401(k), small employer tax credits, and other incentives, proponents hope keeping it simple will close the coverage gap.
Digital 401(k) provider for small and medium-...
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BY Ted Godbout 9/7/2023
A bipartisan group of House members has called on the Securities and Exchange Commission (SEC) to withdraw its open-end fund liquidity risk management and swing pricing proposal, citing the potential harm it could do to the millions of retirement savers who invest in mutual funds.
In a letter to...
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BY John Sullivan 9/7/2023
Retirement plan advisors are getting increasingly creative in how they observe 401(k) Week, culminating in Friday’s National 401(k) Day.
Take Qualified Plan Advisors, the high-profile Kansas City-based firm. Its Nebraska Practice Leader, Charles (Chuck) Smith, is an elite runner with many...
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BY Nevin E. Adams, JD 9/7/2023
Noting that “where ERISA is concerned, nationwide uniformity isn’t just an ideal—it’s an imperative,” AT&T has appealed a recent ruling by the Ninth Circuit Court of Appeals.
In petitioning for a rehearing (Bugielski v. AT&T Servs., Inc., 9th Cir., No. 21-56196, rehearing petition 9/1/23...
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BY Ted Godbout 9/6/2023
The top Republican member of the Senate Health, Education, Labor and Pensions (HELP) Committee has introduced legislation taking aim at the pending nomination of Acting Labor Secretary Julie Su to serve as Labor Secretary.
More specifically, Sen. Bill Cassidy (R-LA), who serves as the ranking...
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