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NAPA Net Daily

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It wasn’t high costs or 401(k)s—necessarily—that ended the corporate pension plan’s reign, but rather ERISA itself. A recent paper from John Langbein, Yale Law School’s Sterling Professor Emeritus of Law and Legal History, argued that the 1974 landmark law's structure made defined benefit (DB)... READ MORE
A bill currently before the Georgia legislature would affect the exercise of fiduciary duty regarding the investment of retirement plan assets. The legislation includes a provision that would require a fiduciary to put the interests of participants and their beneficiaries ahead of “nonpecuniary... READ MORE
While employers strive to address employees’ evolving needs, the results of a new survey find a disconnect between compensation and benefit offerings and employee preferences. Franklin Templeton’s Voice of the American Workplace Survey, now in its fourth year, finds that employee expectations are... READ MORE
Well, here we are again at the end of yet another workweek … and another month … yet, just look at what happened to these guys and gals… In Ave Maria, Florida, an unnamed couple encountered a whole new (and uniquely Floridian) golf hazard … and yes, we have video…  Why do we do leap day?   While... READ MORE
Coachella shocked concertgoers at the appearance of a surprise performer—iconic rapper Tupac Shakur—on the final day of the hipster music festival in 2012. Shakur, killed in a hail of gunfire while stopped at a red light in Las Vegas over 15 years earlier, danced, sang, and responded as a... READ MORE
Final changes to the Department of Labor’s popular Voluntary Fiduciary Correction Program (VFCP) are apparently on the horizon, according to recent comments made by a senior agency official. Speaking Feb. 27 at the U.S. Chamber of Commerce’s Small Business Retirement Summit, Principal Deputy... READ MORE
The Securities and Exchange Commission has announced a new Investment Management Division Director to replace William Birdthistle, who will be departing the agency March 8. Upon Birdthistle’s departure, Natasha Vij Greiner, currently the Deputy Director of the Division of Examinations, will be... READ MORE
The ink was barely dry on the denial of a motion to dismiss the suit, when American Airlines filed a motion of summary judgement, claiming that “there is no genuine issue as to any material fact and the [movant] is entitled to judgment as a matter of law.” Where We’ve Been Participant-plaintiff (... READ MORE
A hearing that was billed as “taking a serious look at the retirement crisis in America” with a focus on improving the defined benefit system ended with witnesses agreeing that some reforms are needed, but calling for drastically different measures. The Feb. 28 hearing was held by the Senate... READ MORE
If 85% of the market asks for something, you’d better provide it.  I know. Common sense, right? And yet, plan sponsors have, year in and year out, ignored what survey after survey of participants say they want. And advisors—most of them, anyway—have been co-conspirators in this avoidance. I’m... READ MORE

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