The week of Feb. 4 included these highlights:
Surveys and Industry News
• Stock and bond fund inflows hit all-time records in January
• The Wall Street Journal reported that more people will be delaying retirement due to losses incurred during the great recession
• EBRI reported record high account balances for January
• LIMRA projected that investible retirement assets for people over 50 will hit $22 trillion in 2020, nearly double the 2010 total
• There’s a digital divide among generations that requires different types of education, according to a OneAmerica survey
• Millennials are more conservative than Boomers and less likely to trust an advisor
• E*Trade launched a frontal advertising attack on advisors and “hidden” 401(k) fees
• Pension envy has hit private workers jealous of public employees, according to the Wall Street Journal
• Manulife reported strong financial earnings, driven by their U.S. record keeping division
Analysis
• Bill Gross warned about a crisis fueled by the overheated credit markets
• Nevin Adams highlighted the difficulties facing advisors in projecting participant outcomes
• Fred Reish explained why income projections that will appear in participant statements will be beneficial
• Harvard professor Brigitte Madrian testified before Congress about the benefits of retirement income products in DC plans
• Sarah Simoneaux and Chris Stroud described the practical effects of fee disclosure and project their impact
Compliance
• John Carl broke down a call with an advisor who inquired about the definition of an active participant for purposes of calculating IRA contributions
• The DOL offers a helpful booklet about auto-enrollment
401(k) Summit Highlights
NAPA Net reported on highlights from the upcoming 2013 NAPA/ASPPA 401(k) Summit, set for March 3-5 in Las Vegas:
• In his keynote address, MIT Professor Simon Sinek will explain how advisors can differentiate themselves by focusing on the “why” versus the “what”
• How to get reporters to call you
* NAPA/ASPPA’s traditional charitable event this year will benefit the Las Vegas Boys and Girls Club
The Summit — already the industry’s largest event — promises to break all-time attendance records this year. Have you registered yet?
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