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NAPA Net Staff

By NAPA Net Staff | 6/12/2015
In its current form, the Labor Department’s fiduciary reproposal would “lock out” American small businesses from retirement plans, a new report says.The paper notes that small business owners, through SEP and SIMPLE-type IRA plans, provide roughly $472 billion in retirement savings for more than 9... READ MORE
By NAPA Net Staff | 6/12/2015
Reuters is reporting that the buyers for Russell Investments are down to three, including a large U.S. benefits consulting firm.Citing “people familiar with the matter,” Reuters said that Towers Watson remains in the bidding, as well as China's Shanda Games Ltd. and CITIC Group. In what is expected... READ MORE
By NAPA Net Staff | 6/12/2015
Last year, four-in-ten contribution dollars were directed to target-date funds, according to a new report.Eighty-eight percent of plan sponsors recordkept by Vanguard offered target-date funds at year-end 2014, and nearly two-thirds (64%) of all participants use them. In fact, 60% even use them the... READ MORE
By NAPA Net Staff | 6/11/2015
Identity theft is a growing concern for Americans — and now there’s a benefit offering specifically targeted at helping them protect their retirement nest egg.The offering, LifeLock Benefit Elite, helps detect potential fraud and brings it to the attention of employees through alerts within the... READ MORE
By NAPA Net Staff | 6/11/2015
Retirement may be a long ways off for them, but Millennials are more stressed about it than other generational groups — and counting on assistance from loved ones if they do need financial help.In fact, more than four in 10 (43%) Millennials who participated in a recent study say they are counting... READ MORE
By NAPA Net Staff | 6/11/2015
Franklin Templeton Investments has expanded its target date fund lineup, introducing the Franklin LifeSmart 2055 Retirement Target Fund on June 10.  The new fund “is aimed at Millennial investors who plan to retire in or near the year 2055 and reflects our ongoing commitment to innovating solutions... READ MORE
By NAPA Net Staff | 6/11/2015
The Department of Labor intends to finalize its re-proposed rule defining a fiduciary in May of next year, Groom Law Group Chairman Steve Saxon said on June 8. Saxon made his remarks at the SPARK Institute’s annual conference in Washington, D.C. That timing is fueled by political considerations.... READ MORE
By NAPA Net Staff | 6/10/2015
A new survey finds that Roth 401(k) usage is creeping up, particularly among Millennials. According to Wells Fargo, 12% of participants are contributing to a Roth 401(k), up from 8% four years ago.Millennials — who are probably now paying income taxes at the lowest rate of their lives — are the... READ MORE
By NAPA Net Staff | 6/10/2015
MassMutual is launching a employee benefits guidance tool to help Americans make decisions about their financial needs, including health care coverage, insurance protection and retirement savings, based on their personal financial situations.The MapMyBenefits tool provides personalized guidance to... READ MORE
By NAPA Net Staff | 6/10/2015
A new lawsuit claims that the auto enrollment concept — as well as contribution acceleration and defaulting into target-date funds — has not only been patented, but the owner is seeking damages for its misappropriation by a major recordkeeping provider and money manager.According to a June 9 report... READ MORE
By NAPA Net Staff | 6/8/2015
Bipartisan legislation introduced in the U.S. House of Representatives June 4 would automatically opt participants into electronic delivery of documents.Representatives Jared Polis (D-Colo.), Phil Roe, MD (R-Tenn.), Ron Kind (D-Wisc.) and Mike Kelly (R-Penn.) last week introduced the Receiving... READ MORE
By NAPA Net Staff | 6/8/2015
GRP Advisor Alliance (GRPAA) announced June 9 that it will provide Financial Finesse’s financial wellness program to member firms of Global Retirement Partners, LLC.The partnership will provide GRP member firms with access to: Financial Finesse’s Online Financial Learning Center; patent-pending... READ MORE
By NAPA Net Staff | 6/8/2015
The nation’s largest public pension fund is trimming the number of investment firms it works with by half in an effort to save money, according to a published report.The $305 billion California Public Employees’ Retirement System, or CalPERS, plans to inform its investment board next week of its... READ MORE
By NAPA Net Staff | 6/8/2015
In May, Morningstar analysts upgraded two U.S. mutual fund ratings, downgraded eight fund ratings and placed three funds under review. The upgraded funds are:• BlackRock Multi-Asset Income Investor A, upgraded from Neutral from Bronze• Natixis ASG Managed Futures Strategy A, upgraded from Neutral... READ MORE
By NAPA Net Staff | 6/8/2015
Though they seem to be somewhat more likely to review information they receive in paper format, a new survey finds that the vast majority of Americans would be fine with getting retirement disclosures electronically.Six in ten (60%) report reading this general information in paper format... READ MORE
By NAPA Net Staff | 6/8/2015
In 2005, seven companies bought financial software provider SunGard. Fast forward 10 years: on June 3, SunGard filed a Form S-1 with the Securities and Exchange Commission to go public. The filing says the sale will begin “as soon as practicable” after the filing is declared effective. Yet to be... READ MORE
By NAPA Net Staff | 6/5/2015
For those keeping score at home, a total of 36 individuals and organizations submitted comments on the DOL’s April 14 fiduciary proposal during the first month of the comment period.The DOL’s Employee Benefits Security Administration has created a “public comments” page on its website that lists... READ MORE
By NAPA Net Staff | 6/4/2015
SIFMA unveiled a best interest standard June 3 — and not to be outdone, the Financial Services Roundtable also called for a uniform client “best interest standard,” while releasing an alternative proposal to the DOL’s proposed fiduciary rule.SIFMA’s StandardSIFMA, which unveiled its standard at the... READ MORE
By NAPA Net Staff | 6/3/2015
Despite growing concerns about leakage from retirement plans, a new survey suggests that Americans aren’t very familiar with various distribution options.The survey, commissioned by Pentegra Retirement Services and conducted online by Harris Poll this month among more than 1,000 employed U.S.... READ MORE
By NAPA Net Staff | 6/3/2015
Imagine, if you will, a consumer information label on a milk carton...Let’s say that label identifies the biological and physiological considerations of cattle, estimates the working life of the average cow (with appropriate graphs and tables to reflect that different breeds experience different... READ MORE

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