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BY Ted Godbout 8/8/2017
Workers nearing retirement face numerous decisions regarding when and how they will transition into retirement, but few employers provide things such as educational resources, information about distribution options, planning materials, ability to make systematic withdrawals, referrals, or an...
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BY Nevin E. Adams, JD 8/8/2017
Many years ago, there was a commercial (for car oil filters, as I recall) that cautioned, “You can pay me now, or pay me later” – in other words, spend a little now on an oil filter, or pay lots later on to fix the damage done by not doing so. It’s a mantra that I’ve heard employed to encourage...
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BY Nevin E. Adams, JD 8/7/2017
A recent survey indicates that while performance is a factor, it’s not the top factor motivating fund changes by plan sponsors. But is that your experience?The Cogent Reports Retirement Planscape report notes that in instances where plan sponsors say they intend to drop or reduce the number of...
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BY NAPA Net Staff 8/7/2017
A survey of larger plan sponsors finds most concerned about the potential participant response to a mandated shift to Roth tax treatment in 401(k) plans.The member survey the Committee on Investment of Employee Benefit Assets (CIEBA) found that 78% of the 61 member respondents believed that a...
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BY NAPA Net Staff 8/7/2017
David L. Musto has been named as President of Ascensus, reporting to Bob Guillocheau, who will take on the role of chairman in addition to his duties as chief executive officer. Musto will join Ascensus’ board of directors.According to a press release, Musto will focus on continuing to grow the...
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BY Nevin E. Adams, JD 8/7/2017
The fiduciary regulation got another day in court last week – and, for a change, this time the regulation’s challengers appeared to draw blood.The setting was oral arguments before the 5th Circuit Court of Appeals, with the Labor Department making its case for the regulation challenged by a group...
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BY Ted Godbout 8/5/2017
Recordkeepers which offer proprietary target-date funds are finding their share of assets on their own platforms declining as plan sponsors increasingly select funds from other providers, new research shows. This trend comes partially as a result of the expanding array of benefit solutions, such as...
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BY Craig Hoffman 8/4/2017
The Labor Department has issued a new set of FAQs on the fiduciary regulation that embrace the recommendations made by the ARA/NAPA Government Affairs Committee (GAC) in a recent comment letter.To recap, the 408(b)(2) regulation requires certain service providers to ERISA-governed retirement plans...
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BY NAPA Net Staff 8/4/2017
The Labor Department’s fiduciary rule RFI touches on, but does not yet resolve, a key question.A recent blog post by noted ERISA attorney Fred Reish notes that in the Labor Department’s request for information (RFI) on the fiduciary regulation, the DOL asks: “Should recommendations to make or...
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BY Nevin E. Adams, JD 8/4/2017
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.” This week, NAPA Net readers weigh in.Arguably the news caught many in the...
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