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BY Nevin E. Adams, JD 11/22/2017
In a big win for the lobbying efforts of the American Retirement Association’s Government Affairs Committee (GAC), the IRS has dropped a series of compliance questions from the 2017 Form 5500.The announcement came along with the release of advance informational copies of the 2017 Form 5500 from the...
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BY Ted Godbout 11/21/2017
As employees are asked to take on more responsibility for managing and financing their benefits, new research shows that employees want and need help making better decisions about their benefits.Results from Lincoln Financial Group’s 2017 Employee Benefits Study indicate that a large majority of...
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BY Nevin E. Adams, JD 11/21/2017
Wells Fargo – one of the few providers to date to prevail in a proprietary fund suit – once again finds itself in the litigation crosshairs.The lawsuit (Wayman v. Wells Fargo & Co., D. Minn., No. 0:17-cv-05153-PJS-KMM, complaint filed 11/17/17), filed last week in a Minnesota federal court,...
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BY Nevin E. Adams, JD 11/21/2017
Thanksgiving has been called a “uniquely American” holiday, and though that is perhaps something of an overstatement, it is unquestionably a special holiday, and one on which it seems appropriate to reflect on all for which we should be thankful.Here’s my list for 2017:I am thankful that – for the...
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BY Ted Godbout 11/20/2017
Following light trading the previous month, October saw a moderate increase in trading among DC plan investors, according to the Alight Solutions 401(k) Index.“Trading activity remained light in October, following the trend we have seen throughout 2017. In general, 401(k) investors seem content...
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BY NAPA Net Staff 11/20/2017
Most of the impacts of the fiduciary rule have naturally been on advisors – but there is also an impact on recordkeepers and the services they provide to plans and advisors.In a recent blog post, noted ERISA attorney Fred Reish outlines some considerations.Noting that the concept of financial...
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BY Ted Godbout 11/20/2017
If at first you don’t succeed, try, try again seems to be the motto used in a new class action lawsuit filed against New York University alleging breach of fiduciary duties for excessive plan fees in the school’s retirement plans.This new, 129-page filing (Sacerdote v. NYU Langone Hosps., S.D.N.Y...
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BY Rebecca Hourihan 11/20/2017
About six months ago, I decided to put my rental condo up for sale. However, after too many lowball offers and back-and-forth negotiations, I got frustrated and took it off the market. To add to the annoyance, as an unintended consequence, my name and contact information became publically available...
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BY Ted Godbout 11/20/2017
Several years ago, the Department of Labor engaged in a major regulatory effort to improve retirement plan fee disclosures, but new research suggests that many workers are not reading their plan disclosures and are unfamiliar with the fees being charged for managing their funds.The report by the...
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BY Nevin E. Adams, JD 11/17/2017
A recent report by the Congressional Budget Office outlines a variety of the current methods used for measuring the adequacy of retirement income. So, which ones do NAPA Net readers rely upon?The most common gauge – cited by 81% of this week’s respondents – was a percentage of pre-retirement income...
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