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Most DC plan sponsors feel a high level of responsibility for participants’ financial wellness, but a new survey finds that many are not taking proactive measures to position them for success.   J.P. Morgan Asset Management’s fourth biennial survey of U.S. defined contribution plan sponsors finds... READ MORE
An ERISA excessive fee class action settlement has been challenged by a self-described “pure public-interest non-attorney litigant.” The settlement in question isn’t particularly large by excessive fee suit standards; $3.175 million[1] and some releases contained in the settlement agreement (a non... READ MORE
The so-called Butch Lewis Act to address funding problems facing multiemployer pension plans continues to work its way through the legislative labyrinth, with a second House committee approving the legislation in recent weeks.    In what at times was a hotly debated markup session, on July 10 the... READ MORE
John Carter has been named President and Chief Operating Officer-elect of Nationwide’s financial services business lines, effective immediately.  Carter succeeds Kirt Walker, who will become Nationwide’s CEO in October. Reporting to Walker, Carter will oversee the company’s retirement plans, life... READ MORE
Since employees and their behavior are at the root of most decisions about retirement plan participation and how individual accounts are managed, insight into behavior that affects those decisions can be a useful tool in understanding how those choices are made.  In a July 9 webcast, “Behavioral... READ MORE
When I sat down to write this, my first column as NAPA President, I quickly realized that I will never be able to write a President’s message like our Past President, Jeff Acheson. Jeff is a master of wordsmithing and, as those who attended this year’s 401(k) Summit know, he is famous for his “... READ MORE
Closely correlated in the minds of plan sponsors, consolidating platforms and streamlining the advisor experience once again rank as the highest priorities, according to a new report by Cerulli Associates.   In fact, 90% of managed account sponsors surveyed identified simplifying and streamlining... 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
A recent decision by the nation’s highest court could have implications for the Labor Department’s fiduciary rule. The case itself (Kisor v. Wilkie) didn’t have anything to do with the fiduciary rule, or even the Labor Department. The plaintiff here was James Kisor, a Vietnam War veteran who... READ MORE
Ascensus announced July 9 that David Musto, currently president of the organization, will add chief executive officer (CEO) responsibilities to his role beginning in 2020. Bob Guillocheau, currently chairman and CEO of Ascensus, will continue to serve as chairman. Musto, who has more than 30 years... READ MORE
A recent analysis questions whether Savings Incentive Match Plan for Employees (SIMPLE) IRAs really are as uncomplicated as they are purported to be. In “When SIMPLE Is Not Simple, and Is Expensive,” H.C. Foster & Company suggests that SIMPLE IRAs may not be as simple as one may think. “... READ MORE
Wealth management M&A activity reached a new quarterly high in the second quarter of 2019, and could be on pace for another record year.  ECHELON’s M&A Deal Tracker report shows that there were 52 transactions recorded during the second quarter of 2019, surpassing the previous quarterly... READ MORE
There have been many different solutions put forth over the years to remedy the nation’s retirement ills, but regardless of your perception of the coming crisis (including those who believe such notions are overblown), there is a constant in every estimation of our retirement future.[1] Yes, I’m... READ MORE
New poll results from The Associated Press-NORC Center for Public Affairs Research suggest a major disconnect between when individuals plan to retire – or not retire – and the realities of aging in the workforce. The poll finds that nearly half of U.S. adults say they are not financially prepared... READ MORE
More than 1,500 advisors have already cast their vote – so, who’s in the lead? Only plan advisors know how important their local DC wholesaler can be in growing, building and managing their practice. Here’s your chance to tell them how much you appreciate their efforts. We call them “Wingmen”... READ MORE
Having been named in at least three separate suits regarding its FundsNetwork platform structure, Fidelity has filed a response. The suits have been brought by participants in various 401(k) plans served by Fidelity (including the Publicis Benefits Connection 401(k) Retirement Savings Plan, the... READ MORE
Baseball season is in full swing (get it?) – in fact, this week, the 90th Major League Baseball All-Star game will be played. A reader has asked for some help in identifying the best movie about the national pastime – so, batter(s) up! It will be the sixth time that the Cleveland Indians have... READ MORE
One strategy that’s often recommended to increase plan contributions in plans without automatic enrollment is to “stretch the match,” but a recent study suggests that may not achieve the desired results. When plan sponsors stretch the match, they apply an existing dollar match to a higher... READ MORE
A new study finds persistent investor concerns that a recession is nearing, but most investors say they feel “prepared” if that happens.    According to the latest Wells Fargo/Gallup Investor and Retirement Optimism Index, a solid majority of investors (61%) describe the economy as “booming” or “... READ MORE
  For many, the independent registered investment advisor (RIA) channel is as attractive as ever to brokers seeking greater control over their careers and their ability to serve their clients. According to TD Ameritrade Institutional’s “2019 Breakaway to Independence” survey, 44% of potential... READ MORE
Despite economic growth and declining unemployment, new research suggests that cash-strapped Americans are failing to save for retirement, struggling with student loan debt and facing decreasing financial literacy. “The State of U.S. Financial Capability,” a national comprehensive study –from the... 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 Ballwin, Missouri, an unnamed woman was riding in her car… with a TV in the front passenger seat… when she made a turn… leading to the TV rolling from the seat… onto... READ MORE
The Treasury and IRS have proposed regulations designed to encourage adoption of multiple employer plans (MEPs)  – though they’re not final yet. Specifically, the proposed regulations would provide an exception to the “one bad apple” rule for certain MEPs. A MEP is a plan adopted by two or more... 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
More than 20 years after the last such overhaul, on July 1 President Trump signed into law bipartisan legislation to revamp the Internal Revenue Service. Among other things, the newly enacted Taxpayer First Act of 2019 (H.R. 3151)overhauls the IRS’s operations and tax administration systems and... READ MORE

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