Highlights of our posts for the week of Feb. 18, 2013 included:
Plan Design and Compliance
• Did the DOL overreach when it used MEWAs as the model to restrict MEPs for unaffiliated companies? NAPA Conductor Mike Montgomery, citing an article by attorney Charles Humphrey, thinks so.
• Rick Meigs provides practical tips on ways to increase participation.
• John Carl of the Retirement Learning Center answers the question of whether it’s too late to set up a retirement plan for 2012.
Service Providers
• Charles Schwab announced first-year results for its all-index product.
• BoA/Merrill Lynch recorded a 28% increase in sales for 2012.
• KeyCorp sold Victory Capital to management and private equity.
Investments
• Russell Investments introduced what could be the next generation of TDFs.
Trends and Research
• Hybrid advisors grew faster than RIAs, according to Cerulli.
• Gen X and Gen Y need education on financial literacy, according to a LIMRA study.
• The Washington Post questioned the effectiveness of 401(k) plans.
• Brian Graff responded to the Washington Post article, highlighting four common myths about 401(k) plans.
NAPA and the 401(k) Summit
• The March 21 NAPA webcast free to members will include Brad Campbell discussing what to expect from the DOL this year regarding TDFs.
• Michael Kane, the last of the three 401(k) Leadership Award finalists, was profiled.
• A session at the 401(k) Summit will review what advisors can do when clients are involved in a merger or acquisition.
• Reading the mind of plan sponsors will be the theme of an upcoming 401(k) Summit session.
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