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BY John Ortman 10/25/2017
Where does the DOL's fiduciary rule stand? What might we expect in the future? ERISA attorney Fred Reish provided an update on the former and shared his thoughts on the latter in an Oct. 24 workshop at the 2017 ASPPA Annual Conference in National Harbor, MD, just outside the nation's capital.It's...
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BY Ted Godbout 10/25/2017
The results of a new study make it clear that having access to a 401(k) plan is critical in helping workers get on a path to having a secure retirement.Workers age 50 or older who have access to a 401(k) plan have saved six times more for retirement than those without access, according to findings...
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BY Nevin E. Adams, JD 10/25/2017
Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York has reduced the fee requested in an excessive fee case.The settlement (Richards-Donald v. Teachers Ins. & Annuity Assn. of America, S.D.N.Y., No. 1:15-cv-08040, order granting plaintiffs' application for...
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BY Nevin E. Adams, JD 10/24/2017
A day after President Trump tweeted his support for the 401(k), the Chairman of the House Ways and Means Committee said House Republicans are "taking a fresh look" at savings plans.Politico Pro reports that Chairman Kevin Brady, when asked about President Donald Trump's tweet that there would be no...
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BY Nevin E. Adams, JD 10/24/2017
It is all too common in human affairs to make choices that have "unforeseeable consequences." And then there are those situations where people should have known better. Like the current rumors about capping employee pre-tax contributions at $2,400.Having the opportunity to put off paying taxes is...
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BY NAPA Net Staff 10/24/2017
Fred Reish is worried about your 408(b)(2) disclosures.Well, maybe not yours specifically – but in a recent blog post he cautions that “some service providers may be making disclosures that don’t satisfy the standards.” As a result, he suggests that “broker-dealers, RIAs, and insurance agents and...
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BY Ray Harmon 10/23/2017
On Monday, Oct. 23, the Massachusetts legislature's Joint Committee on State Administration and Regulatory Oversight will consider 25 pieces of legislation, including one that would set up a state-run multiple employer plan (MEP) for private employers in the Bay State.The bill, Senate Bill 1701,...
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BY Ted Godbout 10/23/2017
While key challenges remain, conditions are improving for DCIO sales and marketing units within asset management organizations as the long-running bull market for stocks and improving net sales are boosting DCIO asset bases, according to a new study.Sway Research’s “The State of DCIO Distribution:...
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BY Nevin E. Adams, JD 10/23/2017
In light of recent press reports regarding proposals involving tax reform and retirement savings incentives, the American Retirement Association has issued a set of retirement policy principles for tax reform."We support the tax reform goal of economic growth. However, the retirement security of...
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BY Nevin E. Adams, JD 10/23/2017
Tomorrow night the 2017 "fall classic" gets underway, much to the dismay of Yankees and Cubs fans. It's time for you to weigh in on who you would like -- and who you think will win -- this year's World Series.This will, of course, be the 113th edition of Major League Baseball's championship series...
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