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NAPA Net Staff
By NAPA Net Staff | 10/27/2015
Women live longer, and thus can be expected to have higher retirement savings needs. But are women and men really different when it comes to retirement plan savings?According to a new analysis of participants recordkept by Vanguard, women are 11% more likely to enroll in their workplace saving plan...
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By NAPA Net Staff | 10/26/2015
A wide-ranging coalition of conservative groups has called on Congress to “exercise its power of the purse granted by the Constitution to halt the Obama administration's executive overreach.”Invoking the terminology “Obamacare for your IRA” to describe the proposal, the group, which includes the...
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By NAPA Net Staff | 10/26/2015
Among uncovered workers in California, six in seven think that a retirement savings program that automatically enrolls them but gives them the option not to participate is a good idea, but the potential opt-out rates are higher than typically seen in the private sector.According to the “Online...
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By NAPA Net Staff | 10/26/2015
Better reset those post-retirement income savings targets, as expenses to cover health care in retirement are moving higher after several years of decline, driven by prescription drug costs.According to new research by the nonpartisan Employee Benefit Research Institute (EBRI), the range of retiree...
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By NAPA Net Staff | 10/23/2015
The Department of Labor is seeking to make it easier for states to fit within the framework of ERISA in their efforts to establish state-run retirement plans for the private sector, says Phyllis C. Borzi, head of the Employee Benefits Security Administration.Borzi spoke at an Oct. 20 session of the...
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By NAPA Net Staff | 10/23/2015
Concerned that prior guidance has discouraged plan sponsors from embracing “economically targeted investments,” the Labor Department has issued a new interpretive bulletin. The DOL starts by broadly defining an economically targeted investment as “…any investment that is selected, in part, for its...
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By NAPA Net Staff | 10/22/2015
For plan participants who want to lock down a guaranteed amount of income before retirement, the Principal Financial Group® has created Principal Pension Builder, an option that allows a deferred income annuity to be purchased while participating in the plan. Offered as an option in a defined...
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By NAPA Net Staff | 10/22/2015
Which provides a better retirement income outcome, defined benefit or defined contribution? A new analysis provides results that might surprise some. The answer, of course, is dependent on assumptions – assumptions that determine the benefits accrued, as well as the threshold of success – how much...
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By NAPA Net Staff | 10/22/2015
As expected, most of the limits were unchanged because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment – but there were some increases.The Internal Revenue Service (IRS) highlighted the following limitations that WILL change in 2016 from...
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By NAPA Net Staff | 10/21/2015
A new industry survey finds plan design enhancements in a number of significant areas.Aon Hewitt's survey of more than 360 employers, representing over 10 million employees, finds that: More than 4 in 10 (42%) companies match dollar-for-dollar, up from 31% in 2013. Before 2013, $0.50 per $1.00 was...
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By NAPA Net Staff | 10/21/2015
Nearly half of Americans believe they need a sizable nest egg to justify working with a financial advisor, according to a new survey.In fact, according to TIAA-CREF’s fourth annual Advice Matters survey, 45% of respondents think they need at least $50,000 in savings to merit that meeting – and, of...
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By NAPA Net Staff | 10/19/2015
vWise Inc., announced Oct. 19 that VMAX SmartPlan, its proprietary digital retirement plan engagement software platform, is helping record keepers and TPAs deliver comprehensive information to plan advisors on approximately $1.6 billion in participants’ assets held outside their current qualified...
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By NAPA Net Staff | 10/19/2015
NAPA Founding President Marcy L. Supovitz, CPC, QPA, QKA, was welcomed as the American Retirement Association’s 2016 president at the organization’s annual Business Meeting Oct. 18. Her term begins Jan. 1, 2016.Supovitz, a driving force behind the creation of NAPA in 2011, served as NAPA president...
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By NAPA Net Staff | 10/19/2015
A recent court decision reminds fiduciaries that It’s not enough to communicate the potential impact of plan changes to participants – those communications are expected to be accurate. The U.S. District Court for the Southern District of New York issued a decision that emphasizes the importance of...
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By NAPA Net Staff | 10/16/2015
It’s been a busy time for target date funds, according to a new report.About 1 in 10 plan sponsors replaced their target date fund/balanced fund manager in 2014, while the proportion of plans that offer their record keeper’s proprietary TDF declined “precipitously,” from 47.5% in 2013 to 28.7% last...
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By NAPA Net Staff | 10/15/2015
Helping workers prepare for retirement — and helping employers design and maintain plans that support that process — have long been integral to the retirement plan advisor role. Today the challenge that looms largest for a growing number of employers is workforce management, a process that goes...
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By NAPA Net Staff | 10/15/2015
There will be no cost-of-living adjustment (COLA) for Social Security this year — a precursor of what can be expected for retirement plan contribution and benefit limits.It's just the third time in 40 years that those Social Security payments will remain flat. All three times have come since 2010....
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By NAPA Net Staff | 10/14/2015
A new survey finds that most investors who don’t currently work with an advisor are interested in doing so in the future — but they are worried about the cost — and they aren’t sure exactly how an advisor could help.According to the survey of more than 1,000 401(k) participants by Financial Engines...
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By NAPA Net Staff | 10/14/2015
In what has long been a male-dominated profession, a growing number of women are now making significant contributions to this field. Today we are pleased to acknowledge NAPA Net’s inaugural list of Top Women Advisors.As with other NAPA Net industry lists (Top DC Wholesalers, Top 50 Advisors Under...
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By NAPA Net Staff | 10/13/2015
In another rough month for stocks, those who transferred their 401(k) balances headed for the relative security of fixed income offerings, notably GIC/stable value.Indeed, according to the Aon Hewitt 401(k) Index, fixed income funds were the only asset class with positive net inflows during...
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