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BY Nevin E. Adams, JD 12/29/2017
The parties in an excessive fee suit involving proprietary funds have come to terms on a settlement agreement.The suit, filed in October 2015 in U.S. District Court in Santa Ana, CA, by plaintiffs Aleksandr Urakhchin and Nathan Marfice, charges that participants in PIMCO’s 401(k) pay more than 75%...
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BY Nevin E. Adams, JD 12/28/2017
The Wall Street Journal says that “a significant number” of comments posted criticizing the fiduciary rule weren’t made by the individuals named — though it’s based on a pretty small sample.“Significant” in this case means 40% of the individuals who responded to a survey (subscriber-only content)...
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BY Rebecca Hourihan 12/28/2017
At a recent conference, I had the rare moment to go outside and walk around the city – when I noticed something odd.As I strolled through the streets, being the marketing enthusiast that I am, I couldn’t help but notice the awesome detail of each local establishment’s signage. This hip area of town...
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BY Nevin E. Adams, JD 12/28/2017
A year ago, the nonpartisan Employee Benefit Research Institute (EBRI) estimated that individuals might need as much as $350,000 to cover health expenses in retirement. You might want to sit down for the update.The headline in a new report from EBRI says that when it comes to health expenses in...
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BY NAPA Net Staff 12/27/2017
This is a question that has come up a lot recently – and it’s sooner than you might think.The answer? Early bird registration pricing – the lowest registration rates for the NAPA 401(k) SUMMIT – expires with 2017. Meaning that on Jan. 1, 2018, the registration rates go up.The registrations have...
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BY John Carl 12/27/2017
The ERISA consultants at the Retirement Learning Center Resource regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and executive compensation arrangements.A recent call with an advisor in South Dakota is representative...
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BY Ted Godbout 12/27/2017
As part of its year-end legislative push, the U.S. House of Representatives approved legislation on Dec. 21 extending to victims of the California wildfires access to their 401(k)s and similar plans without incurring IRS penalties or immediate tax liability.This new, proposed tax relief for the...
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BY Nevin E. Adams, JD 12/27/2017
Defendants successfully made their case in staving off a decision in a case involving Princeton University’s 403(b) plans, and in so doing placed their bets on the outcome of another case in the 3rd Circuit.The SuitThe original suit, Nicolas v. Trs. of Princeton Univ. (D.N.J., No. 2:17-cv-03695,...
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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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