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UPDATED April 9: The Taxpayer First Act was approved by the House Ways & Means Comnmittee on April 2 and by the full House of Representatives on April 9. Key members of Congress have introduced separate legislation to revamp the Internal Revenue Service as well and to make it easier for small... READ MORE
The parties in one of the oldest excessive fee suits have finally come to terms. Those parties – Tussey v. ABB – settled for $55 million which, if approved by a federal judge, would bring to conclusion litigation that was filed in 2005 by Schlichter Bogard & Denton.  The suit had alleged that... READ MORE
RFPs, or requests for proposal, have long been valued tools in advisor arsenals. There are, however, varying opinions as to what they should include, and even how often they should be issued – and you need look no further than this week’s reader poll to see just how varied.  Nearly two-thirds of... READ MORE
Concluding that “DOL’s Final Rule stretches the definition of ‘employer’ beyond what ERISA’s text and purpose will bear,” a federal judge has thrown the Labor Department’s association health plan rule for a loss.  The association health plan (AHP) rule, finalized last June, claimed to make... READ MORE
You’re in this business for any number of reasons – but do you have a purpose? Plan advisors think about stewardship when they evaluate potential ESG (environmental, social and governance) investments for their clients. But what does stewardship mean for an advisory firm itself? On Monday morning... READ MORE
Earlier this month, we told you about a proposed new tax that could have a dramatic impact on retirement savings. To help bring attention to this critical issue, American Retirement Association CEO Brian Graff has authored an article that has just appeared in The Hill, a popular news source for... 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 Ephrata, Pennsylvania, police and fire personnel responded to a parking lot here about 4:25 a.m… to deal with a car that was on fire… ah, but what started the fire is... READ MORE
Sometimes whether news is good or bad depends on one’s perspective. A case in point: The Government Accountability Office (GAO) has updated its 2015 report on retirement security and savings in households headed by people approaching retirement age. The updated report contains fodder for optimists... READ MORE
The House Ways & Means Committee will consider legislation on April 2 to expand retirement savings opportunities and reform the IRS’s administration and operating procedures, according to multiple press reports.   The outline for the legislation – the “Chairman’s mark” – could be released as... READ MORE
A federal appeals court has affirmed summary judgment in a class action suit involving 270,000 plan participants across more than 13,000 plans. The suit was filed in 2015 by plaintiff John Teets, a participant in the Farmers’ Rice Cooperative 401(k) Savings Plan, which had contracted with Great-... READ MORE
A key House committee moved forward on legislation to require the Securities and Exchange Commission to conduct “usability testing” prior to finalizing any new proposed disclosures for retail investors.   Originally introduced by Rep. Sean Casten (D-IL), the “SEC Disclosure Effectiveness Testing... READ MORE
On Monday, April 8, one of the NAPA 401(k) Summit’s early workshops will feature the perspectives of a diverse group of advisors – both experienced and “up-and-comers.” The panel will be discussing: what it means to being open to different perspectives;  why that matters; the ways a team can... READ MORE
Testifying at a March 27 Capitol Hill hearing on behalf of the American Retirement Association, ASPPA member Martella A. Turner-Joseph encouraged members of Congress to enact comprehensive legislation to expand American workers’ access to workplace retirement plans. Turner-Joseph, an enrolled... 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. A recent call with a financial advisor from California is... READ MORE
NFP Corp. has announced that it will acquire wealth advisory firm Bronfman Rothschild, further elevating its wealth management capabilities and scale, according to a March 26 announcement.  Upon finalizing the acquisition, NFP will integrate Bronfman Rothschild with Sontag Advisory LLC. With the... READ MORE
The IRS on March 26 updated its Operational Compliance List for compliance in 2019. The list is intended to help plan sponsors and practitioners achieve operational compliance by identifying changes in qualification requirements effective during a calendar year.  The Operational Compliance List:... READ MORE
New survey results examining the retirement savings habits of independent gig economy workers compared to traditional workers reveal some surprising results. While traditional workers are more likely to be actively saving for retirement, independent workers are just as likely as traditional... READ MORE
Find yourself a little short of continuing education credits? We’ve got you covered. Sure, you won’t be able to attend all our interactive, informative, educational sessions – but the 2019 NAPA 401(k) Summit offers 14 hours of CE credits, including one Ethics credit, as well as the prospect of CLE... READ MORE
New survey results show that workers are highly concerned about their financial security, particularly in retirement, and they are counting on both Congress and their employers to provide solutions. Conducted on behalf of Prudential by Morning Consult, the sixth “American Workers Survey” finds... READ MORE
Massachusetts Mutual Life Insurance Company is launching an expanded and more flexible investment platform designed specifically for defined benefit pension plans.  Developed with Matrix Financial Solutions, a Broadridge company, the new platform provides financial advisors and plan sponsors with... READ MORE
Ever since passage of the Economic Growth Tax Relief and Recovery Act of 2001 (EGTRRA), individuals who are age 50 or over at the end of the calendar year can make annual catch-up contributions – as much as $6,000 in 2019.  The provision was designed to allow workers to “catch up” on contributions... READ MORE
The agenda, speakers, networking, and overall advisor experience at the NAPA 401(k) Summit are always amazing – and we’ve even got some pretty interesting sessions before the conference day begins… It’s called “Breakfast & Workshop” – and it’s happening between 7:15 and 8:15 a.m. on both... READ MORE
While today’s employees feel confident in their finances, the reality of their situations is not aligned with this confidence, a new report shows.  According to MetLife’s 17th annual U.S. Employee Benefit Trends Study, nearly two out of three people say they are confident in their finances, but... READ MORE
Fueled by industry competition, average expense ratios of equity, hybrid and bond mutual funds continued a two-decade slide, according to new research from the Investment Company Institute. Among the three key factors contributing to the long-term decline are investors shifting toward lower-cost... READ MORE
The Pacific Rim, a place where it’s a bit less unusual than others for new land to explode into existence, is adding to the state-sponsored retirement plans earthquake. Add Hawaii and Washington to the states whose legislatures have or are considering legislation that would create state-sponsored... READ MORE

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