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NAPA Net Staff
By NAPA Net Staff | 12/6/2022
In a new episode of the Nevin & Fred podcast, Nevin (Adams) and Fred (Reish) take a look at the Labor Department’s much-anticipated final ESG rule.
The Labor Department says that it will allow “plan fiduciaries to consider climate change and other environmental, social and governance factors...
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By NAPA Net Staff | 12/5/2022
With the ink on the Labor Department’s new ESG regulation barely dry, U.S. Senator Tom Cotton (R-AK) has introduced legislation to stop it.
“Retirement plans should prioritize investments with the highest return, not ESG scams,” said Sen. Cotton in a press release.
That said, the legislation is...
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By NAPA Net Staff | 12/2/2022
We now have an official effective date for the new ESG regulation.
While the Department of Labor unveiled its final rule on the consideration of environmental, social and governance (ESG) factors just prior to the Thanksgiving holiday, the regulation has now been officially published in the...
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By NAPA Net Staff | 11/29/2022
With Congress poised to pass another comprehensive retirement policy bill this year—a new analysis underwritten by the American Retirement Association shows the dramatic impact on retirement savings—and retirement coverage—this bill could have.
This legislation—nicknamed SECURE 2.0, as it builds...
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By NAPA Net Staff | 11/28/2022
Mobile apps have increasingly become the first resource that investors consult to review their investments, make transactions and conduct research, positioning digital as a critical component of the wealth management client experience, a new study suggests.
According to J.D. Power’s 2022 U.S....
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By NAPA Net Staff | 11/23/2022
The Securities and Exchange Commission has charged Goldman Sachs Asset Management, L.P. (GSAM) for policy and procedure failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance (ESG) investments.
To settle the charges, GSAM...
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By NAPA Net Staff | 11/20/2022
The SPARK Institute recently updated its Industry Best Practices for Cybersecurity and released a new Plan Sponsor & Advisor Guide to Cybersecurity to accompany it.
As part of its efforts to help strengthen cybersecurity throughout the retirement industry, the organization’s Data Security...
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By NAPA Net Staff | 11/17/2022
Fidelity Institutional has announced new account opening functionalities, as well as enhancements to its open architecture digital store, Integration Xchange, and its advisor technology platform, Wealthscape.
These improvements are part of Fidelity’s commitment to elevate advisors’ digital...
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By NAPA Net Staff | 11/17/2022
The venture arm for “socially responsible” FinTech has announced its first portfolio company.
The entity is Rayze—founded by NFL player Carl Nassib—which claims to be “transforming the charitable giving landscape by connecting nonprofits to the next generation of donors.”
Rayze encourages...
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By NAPA Net Staff | 11/15/2022
While the broad scope of workplace benefits continues to evolve, findings from a new consumer research survey reveal that an employer-sponsored retirement plan is just as important for employee retention as a competitive salary and flexible work arrangements.
Specifically, the research from Voya...
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By NAPA Net Staff | 11/14/2022
With financial pressure on U.S. employees piling up, the results of a new survey suggest that most employees want guidance from their companies to navigate inflation.
The joint survey by TalentLMS, Enrich and Tapcheck reveals that economic uncertainty caused by rising inflation and recession fears...
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By NAPA Net Staff | 11/10/2022
Voya Financial announced that it has added a new private equity option to its nonqualified deferred compensation (NQDC) executive-benefit solution.
The Pomona Investment Fund (PIF)—a registered investment vehicle providing access to private equity investing to accredited investors—is part of the...
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By NAPA Net Staff | 11/7/2022
Despite market gains for most of the major indexes, October was another light trading month for 401(k) plan investors, according to the Alight 401(k) Index.
There were just two above-normal trading days during the month of October. Overall, there have been 40 above-normal trading days for 2022...
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By NAPA Net Staff | 11/4/2022
ForUsAll has announced that 50 companies are now live with the Alt401(k)—staking out a claim to be the first to “deliver crypto in the 401(k).”
According to a press release, their retirement platform “…gives employees the freedom to invest part of their 401(k) in potentially higher-growth...
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By NAPA Net Staff | 11/3/2022
OneDigital Investment Advisors has just announced its seventh wealth management firm acquisition of 2022.
According to a press release, OneDigital has now acquired New Jersey-based JFL Total Wealth Management (JFL). JFL is a financial planning and wealth management practice specializing in...
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By NAPA Net Staff | 11/1/2022
Allianz Life’s latest guaranteed lifetime income product—Allianz Lifetime Income+ Annuity with the Lifetime Income Benefit—is now available in defined contribution plans nationwide, according to an announcement by the firm.
Allianz Lifetime Income+ is a fixed index annuity that offers innovative...
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By NAPA Net Staff | 10/26/2022
Health savings accounts (HSAs) may still be used more as spending accounts than savings accounts, but the Plan Sponsor Council of America’s (PSCA) 2022 Health Savings Account Survey, sponsored by HSA Bank, finds signs that retirement plans are starting to influence HSA program designs.
Most...
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By NAPA Net Staff | 10/25/2022
After a career in employee benefits spanning more than three decades, Nevin Adams, Chief Content Officer of the American Retirement Association, has announced his “retirement” from that position, effective March 1, 2023.
During his eight-year tenure at ARA, Adams, one of the retirement industry’s...
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By NAPA Net Staff | 10/25/2022
The U.S. Labor Department has extended by 15 days the comment period on its recent independent contractor proposal, after complaints from critics who said the initial time frame for comments was too short.
The Proposal
The Notice of Proposed Rulemaking (NPRM) released Oct. 11 would modify Wage...
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By NAPA Net Staff | 10/24/2022
A recent flurry of lawsuits has "targeted" holders of the BlackRock LifePath target-date funds and their decision(s) to select, and hold, on their investment menu.
Ironically, the plan fiduciaries have been charged with "chasing low fees" with a disregard for the funds' performance—which the...
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