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NAPA Net Staff
By NAPA Net Staff | 7/15/2015
Pentegra Retirement Services introduced on July 15 the “Pentegra Participant SmartPath™,” a new online report that sets forth recommended practices that may help to best ensure successful retirement outcomes for 401(k) plan participants.According to Rich Rausser, Senior Vice President of Pentegra...
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By NAPA Net Staff | 7/15/2015
Although traditional IRAs can be opened with either rollovers or contributions, rollovers tend to be the most common source for new traditional IRAs — and account for the vast majority of those IRA openings, according to a new report.The Investment Company Institute (ICI) reports that in 2013:• 67...
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By NAPA Net Staff | 7/14/2015
Where is the next generation of plan advisors coming from?
To answer that question, NAPA set out to find the top young advisors — the profession’s “Young Guns.” The result of that effort was our list of the “Top 50 Plan Advisors Under 40,” first published in 2014. The 2016 "Young Guns" list is...
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By NAPA Net Staff | 7/14/2015
President Obama on July 13 called on the Department of Labor (DOL) to “provide a clear path forward for the states to create retirement savings programs.” He made his remarks at the 2015 White House Conference on Aging.Obama directed Secretary of Labor Thomas Perez to publish a proposed rule by the...
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By NAPA Net Staff | 7/13/2015
Where is the next generation of plan advisors coming from?
To answer that question, NAPA set out to find the top young advisors — the profession’s “Young Guns.” The result of that effort was our list of the “Top Plan Advisors Under 40,” which will be posted online July 15. A story will also appear...
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By NAPA Net Staff | 7/13/2015
A new report by the Government Accountability Office (GAO) suggests that while employers can — and do — play a significant role in workplace financial education, obstacles remain.In March, GAO convened a select group of leaders and experts for a forum focusing on financial education in the...
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By NAPA Net Staff | 7/13/2015
Would your plan sponsor clients like to know what the IRS looks for in plan documents? Here’s a list.Specifically, the Internal Revenue Service recently published a bundle of subject matter packages that their Employee Plans Specialists use when reviewing retirement plan documents. The IRS notes...
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By NAPA Net Staff | 7/13/2015
Asked to reconsider a decision regarding fiduciary review in the wake of Tibble v. Edison, a district court found no reason to do so.The case, In re Citigroup ERISA Litig., No. 11 CV 7672 JGK, __F.Supp.3d___, 2015 WL 4071893 (S.D.N.Y. July 6, 2015), brought in the U.S. District Court, Southern...
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By NAPA Net Staff | 7/9/2015
Bipartisan legislation introduced in both the House and Senate would restore the use of health reimbursement arrangements (HRAs) by small employers.The Small Business Healthcare Relief Act rolls back existing Treasury Department guidance issued under the authority of the Affordable Care Act...
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By NAPA Net Staff | 7/9/2015
Alliance Benefit Group announced June 9 that it has added The Retirement Plan Company, LLC (TRPC) to its national network. Founded in 1992, TRPC is headquartered in Nashville, Tenn. with regional offices in Dayton, Ohio and Greenville, S.C., and is among the largest independent record keepers and...
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By NAPA Net Staff | 7/9/2015
Reports from the Senate Finance Committee’s five bipartisan tax working groups have been published, including policy options and recommendations on savings and investment.On Jan. 15 the Senate Finance Committee, which has jurisdiction over tax policy, announced that Chairman Orrin Hatch (R-UT) and...
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By NAPA Net Staff | 7/8/2015
Fitch Ratings says that the proposed regulations from the U.S. Department of Labor “could drive significant revamps of business practices for many registered investment advisors and the financial advisors of broker dealers.”The report goes on to say that the proposed rules raise the risk of...
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By NAPA Net Staff | 7/7/2015
Efforts to stop or roll back the Department of Labor’s proposed fiduciary rule will continue, according to Steve Saxon of Groom Law Group. Saxon made his remarks at the Insured Retirement Institute’s recent Government Legal Regulatory Conference in Washington, D.C.According to zinsurance, Saxon...
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By NAPA Net Staff | 7/7/2015
A new report refutes the notion that automatic enrollment features cause employees to disengage from the retirement planning process. After eight years of offering automatic enrollment to its clients, Bank of America Merrill Lynch notes that:• Of employees who were placed into their employer’s plan...
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By NAPA Net Staff | 7/7/2015
The Financial Industry Regulatory Authority (FINRA) has ordered several major advisory firms to pay more than $30 million in restitution, including interest, to affected customers for failing to waive mutual fund sales charges for certain charitable and retirement accounts. FINRA said that Wells...
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By NAPA Net Staff | 7/7/2015
Whenever I think of summer, I think of the summer reading list. In high school, those thoughts tended toward dread of Dostoyevsky’s 600 pages of unpronounceable names or fear of Faulkner’s ferociously difficult book your older sibling warned you about. But now summer reading lists conjure thoughts...
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By NAPA Net Staff | 7/7/2015
More than a quarter of fund wholesalers don’t understand their compensation plans, and fewer than six-in-ten believe those structures encourage them to spend time with top advisors.Ignites Research surveyed 125 external wholesalers of mutual funds and ETFs at 72 different asset managers, and found...
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By NAPA Net Staff | 7/6/2015
Most participants in savings and thrift plans (like 401(k)s) have the option to roll balances from previous DC plans into their new plans, but far fewer have the option to take those distributions in installments or annuities, according to a new analysis.According to the Bureau of Labor Statistics...
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By NAPA Net Staff | 7/2/2015
They say that what goes up must come down, and in June that applied to 401(k) balances.
Not all balances, of course, and not by a uniform amount. The average account balance for younger (25-34), less tenured (1-4 years) workers was basically flat — with market losses negating the positive impact...
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By NAPA Net Staff | 7/2/2015
They say that what goes up must come down, and in June that applied to 401(k) balances.Not all balances, of course, and not by a uniform amount. The average account balance for younger (25-34), less tenured (1-4 years) workers was basically flat — with market losses negating the positive impact of...
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