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BY NAPA Net Staff 8/2/2017
The Investment Company Institute recently published a list of frequently asked questions about 401(k) plans. Here’s our version of that list.How much money is in 401(k) plans?As of March 31, 2017, 401(k)s held an estimated $5.0 trillion in assets – nearly 20% of the $26.1 trillion in U.S....
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BY Nevin E. Adams, JD 8/1/2017
Ascensus, already tapped to administer the OregonSaves state-run IRA program, has landed another client.The Dresher, Pennsylvania-based provider announced last week that it had been chosen as Illinois’ preferred partner for its Secure Choice program following a public-bidding process. According to...
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BY NAPA Net Staff 8/1/2017
If you thought June was a hot month for 401(k)s, just wait till you get a look at July.According to the nonpartisan Employee Benefit Research Institute (EBRI) found that the average account balance for younger (age 25-34), less tenured (1-4 years) workers surged by 3.0% in the month of July. The...
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BY Nevin E. Adams, JD 8/1/2017
In an excessive fee suit brought by participants, a money manager is going to have to turn over reports about the performance, expense and profitability of the mutual funds in the company’s 401(k) plan.The plaintiffs in the case against American Century Services (ACS) (Wildman v. Am. Century Servs...
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BY Nevin E. Adams, JD 8/1/2017
Years ago I decided I wanted to move to the nation’s capital because – as I told friends at the time – I was tired of “just” writing about what had happened with retirement policy… I wanted to make a difference.Now that’s not to say that writing doesn’t make a difference – I hear from readers all...
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BY NAPA Net Staff 7/31/2017
Nevada’s new law that imposes a fiduciary duty on broker-dealers, sales representatives and investment advisers is now in effect; it also authorizes rules on fiduciary duty.SB 383, which Gov. Brian Sandoval (R) signed into law June 2, went into effect on July 1. The measure not only concerns duties...
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BY NAPA Net Staff 7/31/2017
A new report finds that investment menu shifts aren’t being driven by performance.A new blog post by Linda York, senior vice president who leads the Wealth Management Syndicated Research & Consulting practice at Market Strategies, notes that in instances where plan sponsors say they intend to...
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BY Nevin E. Adams, JD 7/31/2017
Last week the U.S Treasury announced that it was winding down the myRA program, noting that there was “…very little demand for the program, and the cost to taxpayers cannot be justified by the assets in the program.” In this week’s reader poll, we’d like to know what you think.In announcing its...
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BY NAPA Net Staff 7/31/2017
The Treasury Department announced July 28 that it will begin winding down the myRA program. Treasury’s action, which will end the program started in 2014, comes after a review of the program and its cost-effectiveness.U.S. Treasurer Jovita Carranza said in a press release that Treasury will be...
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BY Nevin E. Adams, JD 7/28/2017
Every plan sponsor has unique expectations and attributes – as do those who work with them. But when it comes to the services one looks for – and values – certainly some rise to the top. How do NAPA Net readers see those priorities?Asked which three advisory services are, generally speaking, most...
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