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BY Ted Godbout 10/9/2017
Baby Boomers are exhibiting a stronger sense of financial preparedness and confidence, according to a recent study that explores generational perceptions of retirement readiness.Allianz Life’s “Generations Ahead Study” of 3,000 Americans found that more than 7 in 10 Boomers (72%) said they feel...
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BY Nevin E. Adams, JD 10/9/2017
Nonqualified deferred compensation (NQDC) plans are once again emerging as a critical plan design opportunity – and one on which a growing number of advisors are focused. This week, we’d like to know if NQDC designs are in your portfolio.NQDC plans come in a variety of formats and designs: account...
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BY Nevin E. Adams, JD 10/6/2017
While education policy statements are not exactly “new,” they have come into greater visibility (if not use) along with a growing emphasis on financial wellness and retirement outcomes, not to mention a more intense focus on fiduciary responsibility. This week we asked NAPA Net readers to share...
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BY Ted Godbout 10/6/2017
In July, Pew Charitable Trusts issued a report on employer perspectives on the barriers to offering retirement plans; now, the organization has a new report on worker perspectives on barriers to saving and the results suggest, not surprisingly, that access to an employer-sponsored plan is key.The ...
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BY NAPA Net Staff 10/6/2017
In his most recent (62nd, but who’s counting?) blog post regarding the Department of Labor’s fiduciary rule and exemptions, Fred Reish poses an intriguing question.He notes that under the new fiduciary definition (which applied on June 9), an investment “suggestion” is fiduciary advice, a broad...
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BY NAPA Net Staff 10/6/2017
One of the fiduciary regulation’s most ardent supporters has expressed both concerns – and skepticism - that brokerage firms are shifting investors into account structures that result in higher costs.The Consumer Federation of America (CFA) this week wrote to Secretary of Labor Alexander Acosta,...
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BY Nevin E. Adams, JD 10/6/2017
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...
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BY NAPA Net Staff 10/5/2017
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...
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BY Ted Godbout 10/4/2017
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...
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BY Ted Godbout 10/4/2017
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...
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