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We learn much from our parents – and while the lessons aren’t always explicit, and not always attended, this week, we’d like to know: Which life lessons did you learn from whom? That’s right – life lessons – about finances, work, relationships – you name it.  Some parents try, others don’t, and... READ MORE
The same appellate court responsible for an outlier result in an ERISA suit accepted by the nation’s highest court has just ruled on a similar case. The Second Circuit Court of Appeals, in an unpublished decision (O’Day v. Chatila, 2d Cir., No. 18-2621, unpublished 6/7/19) joined by Judges Gerard... READ MORE
Oregon employers that do not comply with the rules of OregonSaves– the Beaver State’s state-sponsored retirement program – will face penalties starting next year.  Gov. Kate Brown (D) has signed into law SB 164, a measure which provides that an employer found not to be in compliance will face... READ MORE
Cyber threats morph and evolve as quickly as the technology and data they compromise. Speakers at SPARK’s national conference in Falls Church, VA suggested ways to protect against them.  Evolving Challenges Wendy Young Carter, a VP and Defined Contribution Director, Public Sector at Segal Group,... READ MORE
Following House passage of the bipartisan SECURE Act last month, it looked like the legislation was headed for quick enactment. Since then, however, the realities of the Senate’s legislative process appear to have taken over.    A quick recap from where we last left off: On May 23, the House... READ MORE
The workforce, like the economy, is changing rapidly. That has implications in many areas, including retirement savings and retirement plan coverage. A June 4 session at the SPARK National Conference held in Falls Church, VA discussed some of those circumstances and how they may be addressed. John... READ MORE
Lifetime income options have been a hard sell for defined contribution plans – but the SECURE Act and the Senate’s RESA both take steps to improve the odds. This week, we asked NAPA-Net readers about their experience – and expectations. First off, it’s worth acknowledging that in the 2019... 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 North Huntingdon, Pennsylvania, Brandon K. Murphy, 24, was one of several individuals involved in an altercation at a local mall, which culminated in a fight, which... READ MORE
On June 5, the Securities and Exchange Commission voted 3-1 along party lines to put in place new standards for broker-dealers and investment advisers – including some new considerations regarding retirement plan rollover recommendations. The lone “no” vote (on all four issues before the SEC) came... READ MORE
As the SEC was voting on its final investment advice rulemaking package, a Capitol Hill hearing was taking place to consider President Trump’s nominee to fill the open Democratic commissioner's seat.  The June 5 hearing to consider Allison Lee’s nomination to fill the vacant seat on the Commission... READ MORE
A large majority of individuals say they are comfortable financially, but many also report that they are struggling to save for retirement, according to the Federal Reserve Board. It its latest “Report on the Economic Well-Being of U.S. Households,” the Fed found that most measures of economic... READ MORE
The Department of Labor (DOL) is preparing to act on a variety of issues relevant to retirement plans and participants, according to a department official who offered an outline at a June 5 session of the SPARK national conference held in Falls Church, VA. Jeanne Klinefelter Wilson, Deputy... READ MORE
While speculation has run rampant over the past several months, we may finally get some answers today about what the Securities and Exchange Commission’s final investment advice rulemaking will encompass.  At a public hearing scheduled to begin at 10:00 a.m. ET today, the SEC is scheduled to... READ MORE
Apparently education expenses are not only weighing on retirement contributions, but triggering early withdrawals as well. According to the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors, three out of five young (under age 34) investors have made an... READ MORE
When I was just out of college – technically, while I was still in college – I had the good fortune to be hired by IBM. Big Blue describes its three core values as: dedication to every client’s success; innovation that matters, for our company and for the world; and trust and personal... READ MORE
The Securities and Exchange Commission has announced two enforcement and education initiatives intended to help protect teachers, active members of the military and veterans and their assets, including retirement funds. The initiative augments the agency’s previous efforts in that vein with... READ MORE
Suggesting the growing convergence of health and retirement savings, more than half of respondents educate employees on allocating assets between their 401(k) or 403(b) plan and a Health Savings Account (HSA) – but employee education remains the dominant concern of plan sponsors. In fact, 60% of... READ MORE
The U.S. Supreme Court will, once again, take up the issue of where, and how, to draw the line between the obligations of corporate officials and ERISA plan fiduciaries. Specifically, the Supreme Court has now decided (Ret. Plans Comm. of IBM v. Jander, U.S., No. 18-1165, certiorari granted 6/3/19... READ MORE
Life has many lessons to teach us, some more painful than others – and some we’d just as soon be spared. But as graduates everywhere look ahead to the next chapter in their lives, it seems a good time to reflect on some lessons learned along the way. It’s handy to know at least a little about... READ MORE
Bank of America has announced the launch a new offering that will deliver advice and guidance to clients through an advisor and an enhanced digital platform.  According to the announcement, the expansion of Merrill Guided Investing to include the option to work with a Merrill Financial Solutions... READ MORE
Robert Goldman has been promoted to National Sales Director for large-market retirement plans, effective immediately, according to a June 3 announcement by Transamerica.  Goldman will manage Transamerica’s sales efforts for retirement plans with $50 million or more and will oversee the company’s... READ MORE
They say that what goes up must come down. And so, after a pretty solid run, so did the average 401(k) balance in May. In May, the average 401(k) balance for those aged 25-34 with 1-4 years of tenure slid 2.9%, dampening the lift from April’s 4.3% increase following the first quarter’s 15.3% surge... READ MORE
Plan fiduciaries who have already prevailed on most claims in an excessive fee suit have now won their motion on denying plaintiffs a jury trial. In a curt ruling (Troudt v. Oracle Corp., D. Colo., No. 1:16-cv-00175-REB-SKC, 5/30/19), Judge Robert E. Blackburn of the U.S. District Court for the... READ MORE
Lifetime income options have been a hard sell for defined contribution plans – but the SECURE Act and the Senate’s RESA legislation both take steps to improve the odds. This week, we’d like to know: Will it matter? In the 2019 Retirement Confidence Survey (RCS), three in four survey respondents... READ MORE
Not all broker-dealers and investment advisers are adequately addressing the various security risks in relation to their network storage solutions, which could result in unauthorized access to information stored on the device, according to a new SEC Risk Alert.   During recent examinations, staff... READ MORE

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