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Beep! Beep! Beep! Monday, 5:00 a.m. It’s cold and dark outside. I lace up my running shoes and head out the door sluggishly. One mile complete – and guess what, it was terrible. My lungs are burning, it’s still dark, and I’m cold. Running is just not my thing.  Tuesday, 6:00 p.m. I fight rush... READ MORE
The ERISA consultants at the Retirement Learning Center Resource regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings plans. We bring Case of the Week to you to highlight the most... READ MORE
Members of the Senate Finance Committee expressed hope May 14 that Congress would move quickly to approve the long-pending Retirement Enhancement and Savings Act (RESA) before moving to the next round of broader retirement savings reforms.  “I’m hoping that the House will send its version of RESA... READ MORE
Picking up where they left off in the last Congress, the bipartisan duo of Sens. Rob Portman (R-OH) and Ben Cardin (D-MD) reintroduced their comprehensive “Retirement Security and Savings Act” on May 13.  The 132-page bill includes more than 50 provisions designed to strengthen Americans’... READ MORE
Industry veteran Glenn Dial joined American Century Investments on May 6 as senior retirement strategist, the firm has announced. Dial will report to Rick Luchinsky, SVP and Head of Financial Institutions and Retirement. According to a press release, he he will help further the firm’s commitment... READ MORE
With the ink still drying on his latest bill to enhance retirement security, long-time retirement champion Sen. Rob Portman (R-OH) has been confirmed as keynote speaker at the 2019 NAPA D.C. Fly-In Forum, July 23–24. Portman has authored several federal laws to increase retirement savings,... READ MORE
New proposed legislation could help close the retirement savings coverage gap — and you can help make it a reality. Small business owners face real challenges – costs, administrative burdens and increased liability for mistakes – in the decision to provide retirement benefits for their workers. ... READ MORE
Mothers give us a lot, not the least of which is life itself. But as I was reading through all the accolades on social media over the weekend, I couldn’t help but be reminded of all my mother gave me. As is the case in many families, “Mom” was our family’s CFO. See, like many in his generation, my... READ MORE
A key member of Congress has reintroduced legislation that would permit 401(k), 403(b), SIMPLE and governmental 457(b) retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Sen. Ron Wyden (D-OR), Ranking Member of the... READ MORE
The markets are off to a strong start, but for the 15th month in a row, participants who transferred balances have made the same move. More precisely, April marked the 15th month in a row in which participant transfers, on a net basis, favored fixed income funds over equity funds. Indeed, in April... READ MORE
Another fund manager strikes a deal in an excessive fee brought by a former participant – just days before the matter was scheduled to go to trial. This suit involved MFS and its actions as plan fiduciary with its two defined contribution plans. A notice of settlement states that “the parties... READ MORE
The IRS recently made it easier (and less costly) to fix certain operational issues without the need for an IRS filing or payment of a user fee. This week, a reader asks: “Do your clients use the DOL and IRS correction programs?”  If you missed it, the IRS made it a truly “good” Friday when, in a... READ MORE
Amid rising demand for low-fee options, target date providers are responding by offering inexpensive options like collective investment trusts or launching new lower-cost series that rely on passive funds. And even though assets in target-date mutual funds shrank in 2018 for the first time since... READ MORE
In a new study of low- and moderate-income workers at employee-owned companies, researchers affirmed that employee stock ownership plans (ESOPs) enable families to significantly increase their assets, helping to shrink gender and racial wealth gaps. The three-year research project conducted by the... READ MORE
Private equity firm Reverence Capital Partners has announced that affiliated investment funds have signed a definitive agreement to acquire Advisor Group, Inc. Headquartered in Phoenix, Arizona, Advisor Group, Inc. is one of the nation’s largest networks of independent financial advisors serving... READ MORE
If you think you’ve had a bad week, just remember — it could have been worse. Check out what happened to these guys (and gals)… In Melbourne, Australia, Bradley Vogt, 28, for unknown reasons decided to flood the building where he lived…by opening a fire hydrant…well, more than one fire hydrant,... READ MORE
Despite a rocky end to 2018 and predictions of an impending recession, those who stayed the course with their 401(k) were rewarded with a generous first quarter rebound and even more impressive 10-year totals on the anniversary of the stock market low. Buoyed by positive stock market performance... READ MORE
Last week Secretary of Labor Alexander Acosta appeared to confirm that the Department of Labor will issue a new fiduciary rule. This week, we asked readers to weigh in on that prospect – and its prospects. Remember that after the 5th U.S. Circuit Court of Appeals struck down the DOL’s previous... READ MORE
New proposed legislation could help close the retirement savings coverage gap — and you can help make it a reality. Small business owners face real challenges – costs, administrative burdens and increased liability for mistakes – in the decision to provide retirement benefits for their workers. ... READ MORE
UPDATED: May 15, 2019 Many pre-retirees still don’t understand how Social Security works and significantly overestimate how much they will receive, suggesting a need for financial advisors to discuss optimizing benefits with their clients. In fact, future retirees expect to receive $1,805 a month... READ MORE
The key Senate committee with jurisdiction over retirement tax policy issues is turning its attention to reviewing proposals that encourage and facilitate retirement savings.  Sen. Charles Grassley (R-IA), Chairman of the Senate Finance Committee, has announced that the Committee will hold a... READ MORE
A $24 million settlement – including an $8 million attorneys’ fee for plaintiffs’ counsel – has been approved in an excessive fee suit. Judge Catherine C. Eagles of the U.S. District Court for the Middle District of North Carolina signed the final approval order in the case involving BB&T and... READ MORE
The ERISA consultants at the Retirement Learning Center Resource regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings plans. We bring Case of the Week to you to highlight the most... READ MORE
Employees who used their financial wellness program on a regular basis improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new, multi-year study.  Financial Finesse’s 2018 Financial Wellness Year in Review highlighting the... READ MORE
The Labor Department and Securities and Exchange Commission aren’t the only ones contemplating a new fiduciary standard. Now the Office of the Comptroller of the Currency (OCC) is considering whether it should update the regulatory definition of “fiduciary capacity” to make it more consistent with... READ MORE

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