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NAPA Net Daily

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The Labor Department continues to fight an attempt by at least one fiduciary rule opponent to pursue its case in court.In an Oct. 13 filing, the DOL repeated its request that the court grant its July motion to stay proceedings “because it would conserve judicial resources to await completion of the... READ MORE
There have to be changes in the law, and “it needs to be done quickly,” argued former North Dakota Senator and Chairman of the Senate Budget Committee Kent Conrad at an Oct. 11 Bipartisan Policy Center event that concerned Retirement readiness and policies affecting it, including the health of the... READ MORE
The Social Security Administration on Oct. 13 announced that the monthly Social Security and Supplemental Security Income (SSI) benefits will increase 2% in 2018. The change will affect more than 66 million Americans.The 2%  cost-of-living adjustment will begin with benefits payable to more than 61... READ MORE
As part of a two-day marathon markup of 23 bills, the House Financial Services Committee on October 12 approved legislation to repeal the Department of Labor’s fiduciary rule and create a new standard of conduct for broker-dealers.H.R. 3857, the Protecting Advice for Small Savers Act of 2017 (or "... READ MORE
Nonqualified deferred compensation (NQDC) plans are once again emerging as a critical plan design opportunity that a growing number of advisors are focused on, including a majority of respondents to this week’s NAPA Net reader poll.Nearly two-thirds (63%) of the respondents to this week’s reader... READ MORE
President Trump has officially announced his intent to nominate Preston Rutledge to be an Assistant Secretary of Labor, Employee Benefits Security Administration.Rutledge currently serves as senior tax and benefits counsel on the Majority Tax Staff of the U.S. Senate Finance Committee, where his... READ MORE
While there are hundreds of independent DC recordkeepers across the country, the lion’s share of DC plans are record kept by large financial firms. Pick up any guide to the top 20 recordkeepers and it’s obvious that firms that manage money dominate the list.It’s difficult to predict what this list... READ MORE
The 2nd U.S. Circuit Court of Appeals has affirmed a lower court’s ruling dismissing prohibited transaction and fiduciary breach claims against Prudential over the use of revenue sharing, allegedly excessive fees and a so-called “pay-to-play” arrangement.In Rosen v. Prudential Ret. Ins. &... READ MORE
A published report says the Trump administration is prepared to nominate a new Assistant Secretary for the Department of Labor’s Employee Benefits Security Administration (EBSA).Politico Pro says that the much-anticipated nod will go to Preston Rutledge, currently Senior Tax and Benefits Counsel... READ MORE
[POST CORRECTED OCT. 12]After expanding in August and September, the pilot program for OregonSaves, the state-run retirement program run by the Oregon Retirement Savings Board, now includes 42 more employers and more than 2,000 additional employees, according to the Oregon State Treasury.... READ MORE

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