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BY Nevin E. Adams, JD 12/27/2017
Great-West has staved off an excessive fee suit regarding its management of a guaranteed investment contract in a 401(k) plan.The suit was filed in 2015 by plaintiff John Teets, a participant in the Farmers’ Rice Cooperative 401(k) Savings Plan, which had contracted with Great-West for...
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BY Nevin E. Adams, JD 12/26/2017
The end of the year brings with it a variety of “lists” and “best of's.” Here are some of both.It is something of a tradition this time of year to look back, to reminisce about past events and lessons learned, and sometimes to look ahead. Here are some insights from columns past that I hope have...
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BY Ted Godbout 12/26/2017
Before heading out for the holidays, President Trump on Dec. 22 signed into law (H.R. 1/P.L. 115-97) the most significant overhaul of the federal tax code since the Tax Reform Act of 1986.The $1.456 trillion net tax cut formerly known as the Tax Cuts and Jobs Act delivers major tax relief to...
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BY Ted Godbout 12/26/2017
The Pension Benefit Guaranty Corporation has expanded its missing participants program to terminated 401(k) and other plans in an effort to make it easier for people to locate their retirement benefits after their plan terminates.The final rule, which will be published in the Dec. 22 Federal...
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BY NAPA Net Staff 12/26/2017
Before heading out of town for the Christmas holiday, the Senate managed to make some key regulatory agency confirmations.By voice vote on Dec. 21, the Senate approved Preston Rutledge to be assistant secretary of Labor for the Employee Benefits Security Administration. Rutledge, whose nomination...
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BY Ted Godbout 12/21/2017
After facing a number of trials and tribulations as it made its way through the legislative process, Congress did, in fact, approve landmark tax reform legislation on Dec. 20, clearing the measure for President Trump’s signature.A minor holdup occurred Dec. 19, when the Senate parliamentarian ruled...
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BY Nevin E. Adams, JD 12/21/2017
Last year we wondered “Is a Wonderful Life’s Christmas Story Love Actually a Die Hard Christmas Vacation?” What’s topping NAPA Net readers’ holiday favorites this year?We had just over 60 options for readers to choose from, and yet fewer than half drew any support at all (including classics like...
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BY NAPA Net Staff 12/21/2017
In his most recent blog post on the fiduciary regulation, Fred Reish notes a specific carve-out to the fiduciary definition – one that allows recordkeepers to provide lists of the investments available on their platforms that satisfy certain criteria specified by the plan sponsor; for example,...
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BY Nevin E. Adams, JD 12/21/2017
Yes, we know it’s only Thursday, but it’s our Friday. And if you think you’ve had a bad week, just remember: It could have been worse. Check out what happened to these guys (and gals)…In La Crosse, Wisconsin, Randy Bolstad called 911 one recent Saturday afternoon to say he had lost money in the...
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BY NAPA Net Staff 12/20/2017
Participants dipping into retirement savings early and suspending contributions to their 401(k) plans is projected to reduce their retirement savings by 14% on average, new analytics from MassMutual show.The impacts include delayed retirements and higher employer costs for salaries and benefits as...
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