Advertisement
Daily News
NAPA Net Daily
Powered by the National Association of Plan Advisors.
BY Nevin E. Adams, JD 7/11/2017
Automatic enrollment has long been touted – and proven – to be an effective way to overcome retirement savings inertia in 401(k) plans. But these days automatic enrollment plan design seems to be suffering from its own inertia.For all the good press and positive results that automatic enrollment...
READ MORE
BY Nevin E. Adams, JD 7/11/2017
American Airlines has come to terms with participant-plaintiffs in an excessive fee lawsuit.The airline – and its former investment management subsidiary American Beacon – have agreed to a $22 million settlement (Main v. Am. Airlines, Inc., N.D. Tex., No. 4:16-cv-00473-O, motion for preliminary...
READ MORE
BY Ted Godbout 7/10/2017
Regardless of income level, more than 60% of respondents in a new survey by MassMutual agree that they are behind when it comes to preparing for retirement, and many expressed a need for more education about retirement savings and personal financial management.The overall survey results show...
READ MORE
BY NAPA Net Staff 7/10/2017
The Labor Department’s recent Request for Information (RFI) about the fiduciary regulation indicate the issues of greatest interest to the DOL. Fred Reish looks at two issues concerning the Best Interest Contract Exemption (BICE) in that RFI.In his most recent (54th, but who’s counting) blog post,...
READ MORE
BY Nevin E. Adams, JD 7/10/2017
Another “mega” university 403(b) plan finds itself in the excessive fee crosshairs of a participant-plaintiff suit.The latest is a suit (Short v. Brown Univ., D.R.I., No. 1:17-cv-00318, complaint filed 7/6/17) brought by three participants (Diane G. Short, Judith Daviau and Joseph Barboza)...
READ MORE
BY Nevin E. Adams, JD 7/10/2017
A 401(k) account was involved in an elaborate bankruptcy/wire fraud scheme by the participant’s spouse.Patricia Bippus-Allen, 58, has been sentenced to 60 months of imprisonment by U.S. District Judge Richard L. Young after pleading guilty to conspiracy to commit bankruptcy fraud, subornation of...
READ MORE
BY Nevin E. Adams, JD 7/10/2017
Exchange-traded funds, or ETFs, crop up from time to time as being a product whose time has (nearly) come. But are you using them in your practice? And are you seeing others do so?The Investment Company Institute (ICI) reports assets of all exchange-traded funds rose in May by $59.77 billion (2.1...
READ MORE
BY Nevin E. Adams, JD 7/7/2017
The Labor Department’s pullback on its support for the Best Interest Contract’s (BIC) condition restricting class-action waivers has revived another fiduciary regulation litigant’s attention.Last fall Thrivent Financial for Lutherans filed suit in the U.S. District Court for the District of...
READ MORE
BY Nevin E. Adams, JD 7/7/2017
A recent survey found the biggest one-year increase in Roth contribution offerings among its clients in 2016, and another recently chronicled the potential impact of a switch to Roth for 401(k)s. What are NAPA Net readers’ reactions?For more than one in five (21%) of this week’s respondents, the...
READ MORE
BY Ted Godbout 7/7/2017
While the most commonly used advisor compensation method remained flat basis points, more plans are electing a tiered method, according to a new report by Ascensus.The report, “Inside America’s Savings Plans,” shows that flat basis points declined by four percentage points, from 91% in 2011 to 87%...
READ MORE
Pages
Advertisement
Advertisement
Most Popular
Advertisement
Sign up for The Daily
Recent Comments