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NAPA Net Daily

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The long-running excessive fee case of Tussey v. ABB won’t get its day before the U.S. Supreme Court – but the case has yet to reach a final conclusion.The nation’s high court has announced without comment (ABB, Inc. v. Tussey, U.S., No. 17-265, cert. denied 10/2/17) that it declined to hear... READ MORE
Securities and Exchange Commission Chairman Jay Clayton reiterated on Oct. 4 that he is “focused on the standards of conduct” for investment professionals. He made his remarks in testimony before the House Financial Services Committee concerning the SEC’s agenda, operation and budget.Clayton’s... READ MORE
A series of structural and administrative changes to the Saver’s Credit would make the program less complex and more likely to achieve its intended goal of encouraging low- and moderate-income workers to save for retirement, according to a new report.The September 2017 issue brief, “Improving the... READ MORE
While employees continue to invest in their company’s stock, more are choosing to invest through an Employee Stock Purchase Plan (ESPP) instead of buying company stock through their 401(k), according to a recent analysis.Fidelity Investments found that the percentage of employees with company stock... READ MORE
CEOs and CIOs earn the highest overall median direct compensation ($630K), with nearly 37% of that total driven by incentives, while CFOs have a significantly lower portion of their compensation ($272K) based on incentives (12%), according to a comprehensive report on large RIA and MFO compensation... READ MORE
Think of all the articles that have been published this year. What do you think are the top-trending retirement plan words?This is important for retirement plan advisors to know about because plan sponsors are searching the internet for these specific words. By updating your website with key search... READ MORE
A positive economic outlook and anticipated sales growth have small business owners considering increases in contributions to their retirement plans, according to the results of an annual survey.Nationwide’s third annual survey of more than 1,000 small business owners finds that 50% of owners who... READ MORE
Citing the rulings in a number of other university 403(b) suits, a federal district court has weighed in on the issues in a case involving Johns Hopkins University.The suit, brought against the plan fiduciaries of Johns Hopkins’ $4.3 billion plan (as of 2014) a little more than a year ago by the... READ MORE
While hacks at Equifax and the Securities and Exchange Commission have dominated the headlines, over the past several weeks, hackers have been attempting – and in at least one case had success – in using stolen identities to hack into individual 401(k)s and other retirement plans.These criminals... READ MORE
While many are likely aware that the Best Interest Contract Exemption (BICE) requires satisfaction of three impartial conduct standards, there is a fourth, less well known requirement.In his most recent blog post concerning the Department of Labor’s fiduciary rule and exemptions, ERISA attorney... READ MORE

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