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NAPA Net Staff
By NAPA Net Staff | 9/15/2015
Large losses on Wall Street caused a brief burst of trading activity in August, according to the Aon Hewitt 401(k) Index.In August, an average of 0.026% of total balances transferred, slightly higher than the averages for July (0.021%) and June (0.024%) — but still less than May’s average of 0.031...
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By NAPA Net Staff | 9/14/2015
The Labor Department has launched a new initiative in the communication “war” about its conflict of interest proposal.Last week the Labor Department published a “Q&A on Small Savers” which leads off by stating, “Small IRA savers may not be who you think they are,” and goes on to point out that...
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By NAPA Net Staff | 9/14/2015
A new report examines the value of a managed account program, based on its impact on portfolio allocations, savings levels, and the investment management and advice fees paid by the participant.According to the Vanguard research report, by using managed account advice, 60% of participants increase...
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By NAPA Net Staff | 9/14/2015
Pentegra Retirement Services has introduced the “Pentegra Distribution Path,” a new online report that sets forth practices to help promote successful retirement outcomes with a focus on decumulation. Distribution Path addresses options for developing and implementing a plan in an effort to ensure...
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By NAPA Net Staff | 9/14/2015
In August, Morningstar analysts upgraded three U.S. mutual fund ratings and downgraded two. In addition, analysts affirmed ratings for 35 funds and six target-date series and assigned five new ratings.The upgraded funds are: Natixis ASG Global Alternatives A (Neutral to Bronze) Vanguard High-Yield...
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By NAPA Net Staff | 9/10/2015
When is a plan limitation period not a limitation period? Apparently when you don’t communicate it to participants, according to a recent court ruling.In Mirza v. Insurance Administrator of America, Inc., the 3rd U.S. Circuit Court of Appeals held that a plan’s limitation period[1. What’s a “...
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By NAPA Net Staff | 9/10/2015
GRP Advisor Alliance has added six advisory firms, the group announced on Sept. 9. With the additions, GRP’s total number of assets represented stands at more than $56B from 200 advisors serving nearly 4,000 retirement plans.The new advisors are: Bob Goldstein, Spencer Goldstein, and Heidi Sidley,...
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By NAPA Net Staff | 9/10/2015
A new survey finds that while provider cyber security policies are of interest to plan sponsors and participant engagement matters, social media… not so much.Deloitte’s Annual Defined Contribution Benchmarking Survey found that more than half (55%) of nearly 400 plan sponsor respondents have...
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By NAPA Net Staff | 9/9/2015
If you have comments on the Labor Department’s fiduciary reproposal, you only have a couple of weeks to share them.The DOL announced Sept. 8 that the public comment period will close on Thursday, Sept. 24, 2015, and that no hand-delivered comments will be accepted after 6:00 p.m. ET on that date....
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By NAPA Net Staff | 9/9/2015
The world’s pension assets hit a new milestone in 2014, but grew at half the rate of the previous year.Total assets of the world’s largest 300 pension funds grew by 3.4% in 2014, compared to around 6.2% in 2013, reaching a new high of $15.4 trillion, according to research from Pensions &...
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By NAPA Net Staff | 9/8/2015
If your plan sponsor clients haven’t filed Form 5500 as required, they could soon be hearing from the IRS.Recently the Internal Revenue Service’s Employee Plans Compliance unit (EPCU) announced plans to collaborate with the Department of Labor’s Office of the Chief Accountant (OCA) to contact Form...
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By NAPA Net Staff | 9/4/2015
There could be a lot of share class changes afoot next year, with a marked shift away from revenue-sharing classes.Overall, according to the August 2015 issue of The Cerulli Edge, nearly 60% of the 50 largest asset managers will make changes to share class offerings heading into 2016. Among this...
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By NAPA Net Staff | 9/3/2015
A new industry report finds upticks in both the number and average deal size of merger and acquisition activity among registered investment advisor (RIA) firms.According to the latest data compiled by Schwab Advisor Services, total and average deal size rose during the first six months of 2015. The...
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By NAPA Net Staff | 9/1/2015
A new survey casts a whole new light on the concept of robo-advice. In a galaxy not so very far away, a group of self-directed investors was asked about their preferred relationship with their broker, and offered a choice modeled on two iconic Star Wars characters: R2D2: a copilot with a diverse...
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By NAPA Net Staff | 9/1/2015
Can plan fiduciaries sue to recover overpayments made many years ago?Case law has recognized the right of a fiduciary to recover overpayments, but a recent case involving a pension plan’s attempted recovery highlights some of the potential hurdles.The case in question involved the Pharmacia...
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By NAPA Net Staff | 9/1/2015
August was not a pretty month for 401(k) balances.The average account balance of younger, less-tenured (age 25-34, 1-4 years of tenure) workers fell 3.0% in August, according to the nonpartisan Employee Benefit Research Institute (EBRI), wiping out most of July’s 3.5% gain. Meanwhile, the average...
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By NAPA Net Staff | 8/31/2015
Those admonitions to “stay the course” notwithstanding, participant trading has surged in recent days, along with the markets’ volatility.Indeed, data from the Aon Hewitt 401(k) Index shows trading activity in 401(k) plans was markedly higher on Friday, Aug. 21, 2015 and Monday, Aug. 24, 2015....
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By NAPA Net Staff | 8/31/2015
More than 10,000 votes have been cast for nominees for NAPA Net’s inaugural list of Top Women Advisors — don’t miss your chance to support your candidates for this prestigious list!In what has long been a male-dominated profession, a growing number of women are today making significant...
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By NAPA Net Staff | 8/31/2015
OppenheimerFunds announced the launch of a new brand campaign Sept. 1. According to a news release, the “Invest in a Beautiful World” campaign will bring to life the firm’s investment philosophy and comprehensive offerings for retail, HNW and institutional investors. “Today, the world of investing...
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By NAPA Net Staff | 8/31/2015
A court challenge to a corporate pension de-risking move has been rejected by the 5th U.S. Circuit Court of Appeals.The lawsuit was filed by a number of Verizon retirees who took issue with a 2012 move by their former employer to annuitize the benefits of current retirees by purchasing annuities...
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