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NAPA Net Staff
By NAPA Net Staff | 4/2/2015
After a string of positive months for average 401(k) balances, the markets finally took their toll in March.The average account balance of those aged 55-64 with more than two decades of tenure with their current employer slipped 0.7% last month, although the average account balance of those aged 25...
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By NAPA Net Staff | 4/2/2015
Participants in automatic enrollment plans tend to save below the level of the employer match, clustering around the relatively low default rates. But does this trend hold over time?New research from Vanguard notes that at a given point in time, one-third of participants in Vanguard plans...
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By NAPA Net Staff | 4/1/2015
Avoiding litigation should be plan sponsors’ primary goal, but prudent plan drafting goes beyond mere risk avoidance.A new analysis by litigation attorneys at Mayer Brown (registration required) points out that the focal point of any lawsuit under ERISA for benefits purportedly owed under the terms...
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By NAPA Net Staff | 4/1/2015
Individuals’ contributions to Health Savings Accounts (HSAs) had been increasing until 2011, but have declined since, according to new research.Between 2011 and 2014, the percentage of individuals reporting that they contributed nothing to their HSA increased from 11% to 23%, while the percentage...
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By NAPA Net Staff | 4/1/2015
The Internal Revenue Service is moving to make it easier – and in some cases cheaper – to remedy plan problems with participant loans.In Revenue Procedure 2015-27, the IRS said it is reducing voluntary correction program (VCP) compliance fees relating to failures to meet requirements with respect...
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By NAPA Net Staff | 3/30/2015
The Principal Financial Group® announced March 25 that it has consolidated new and existing resources into a retirement transition program that offers an increased level of engagement, education and service for participants age 55 and older.The primary goals of the program are to build certainty...
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By NAPA Net Staff | 3/30/2015
Total U.S. retirement plan assets were $24.7 trillion as of Dec. 31, 2014, with defined contribution assets registering the strongest percentage growth, according to a new report.While total retirement plan assets were up 1.7% from the $24.2 trillion mark at Sept. 30, 2014, according to the...
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By NAPA Net Staff | 3/30/2015
American retirement savers looking for an edge in achieving lifetime income security would be well advised to seek out an advisor, according to a new report.The report, published by Empower Institute Research, notes that people who work with a paid advisor have a nearly 30 percentage point...
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By NAPA Net Staff | 3/27/2015
Empower Retirement received the Deal of the Year award at the 22nd annual Mutual Fund Industry Awards, held in New York City on March 26. Empower was formed last year through Great-West Financial’s acquisition of the J.P. Morgan Retirement Plan Services large-market record keeping business, which...
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By NAPA Net Staff | 3/26/2015
The “right” answer to that question is, of course, it depends. But the nonpartisan Employee Benefit Research Institute (EBRI) has published an analysis that, with the benefit of a full stochastic decumulation model focusing simultaneously on post-retirement investment risk, longevity risk and long...
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By NAPA Net Staff | 3/26/2015
Oregon has joined the growing number states weighing the establishment of a state-run retirement plan to cover private-sector employees. Following a now-familiar formula, Oregon Senate Bill 615 and House Bill 2960 would establish the Oregon Retirement Savings Plan and create an Oregon Retirement...
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By NAPA Net Staff | 3/25/2015
As the Obama administration moves forward with its fiduciary reproposal, a trade organization has published a white paper taking issue with the rationale for making those changes.The Securities Industry and Financial Markets Association (SIFMA) last week released a white paper pushing back on a...
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By NAPA Net Staff | 3/25/2015
The 2015 NAPA 401(k) Summit, held Sunday through Tuesday this week in San Diego, got rave reviews from attendees, speakers and exhibitors alike. A special thank you to all sponsors, speakers, moderators, and most of all — the record number of attendees and advisors at this year’s NAPA 401(k) Summit...
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By NAPA Net Staff | 3/25/2015
Multiple employer plans (MEPs) can provide a credible and cost-efficient plan design alternative — but they aren’t the only way to go, even for the smallest plan sponsors.At a panel discussion at the 2015 NAPA 401(k) Summit entitled “‘Multiple’ Choices – Is Your Practice Ready for MEPs?”, Greg...
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By NAPA Net Staff | 3/23/2015
The advisory team at Retirement Resources in Peabody, Mass., represented by Jim Phillips and Patrick McGinn, AIF, CFA, is the winner of the 2015 NAPA 401(k) Advisor Leadership Award. Phillips, Retirement Resources’ president, and McGinn, the firm’s vice president, received the award on behalf of...
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By NAPA Net Staff | 3/23/2015
Joseph F. DeNoyior, CRPS, AIF, C(k)P, was named NAPA President at the 2015 NAPA 401(k) Summit in San Diego. DeNoyior is the Managing Partner at Washington Financial Group (WFG) and the Partner in Charge of WFG’s retirement plan group, which services more than 150 qualified plans. He is a Founding...
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By NAPA Net Staff | 3/22/2015
For the first time, plan advisors now have a way to demonstrate that they have the expertise required to act as a plan fiduciary or help plan fiduciaries manage their roles and responsibilities: the Certified Plan Fiduciary Advisor (CPFA) credential.The new CPFA credential -- the first of its kind...
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By NAPA Net Staff | 3/20/2015
Today the National Association of Plan Advisors launches its second annual campaign to identify the best of the next generation of advisors: NAPA’s Young Guns. One of the things that sets the list apart from other published lists is that it is based on a nominating/voting/selection process that...
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By NAPA Net Staff | 3/18/2015
Only plan advisors know how important their DC wholesaler can be in building, managing and growing their practice. We call them “DC Wingmen” because if they are doing their job, they have your back.
And only advisors know which Wingmen are really good and truly add value.
That’s why NAPA set out...
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By NAPA Net Staff | 3/18/2015
UBS Wealth Management Americas announced March 17 that it has renamed its retirement plan consulting business, UBS Retirement Plan Consulting Services. The business was formerly known as the DC Advisory Program."As a result of plan sponsor demand for a consultant to help them manage their fiduciary...
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