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NAPA Net Staff
By NAPA Net Staff | 12/31/2012
Though it seems like nothing will bring back DB plans (perhaps for good reason), it does cost more to run a DC plan than a DB plan, according to research conducted with private companies in March 2012 by the Bureau of Labor Statistics. Overall, the cost to run a DC plan was 40% higher per employee....
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By NAPA Net Staff | 12/28/2012
The Department of Labor publishes a semi-annual Unified Agenda of rules and regulations that are in the works or under review. The latest list for DOL’s Employee Benefits Security Administration (EBSA) includes:• Requiring DC account balances to be described in terms of the lifetime benefits they...
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By NAPA Net Staff | 12/28/2012
In what could be a seminal case for the DC industry, a pretrial conference was scheduled in Minnesota for Jan. 7, 2013 in the suit by Ameriprise DC participants claiming fiduciary breach and prohibited transactions. The trial could begin as early as Dec. 9, 2013, or it could delayed until July 31,...
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By NAPA Net Staff | 12/28/2012
Crystallizing the opportunities and challenges of plan advisors, the Wall Street Journal published a piece that put advisors at the center of change in the 401(k) market. Society, government and the general press have clearly awakened to the importance of participant directed corporate retirement...
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By NAPA Net Staff | 12/26/2012
Editor’s Note: This is the first in a series of posts by speakers at the 2013 NAPA/ASPPA Summit, March 3-5, 2013 in Las Vegas. Barbara Lewis, a former journalist who has written for The Wall Street Journal as well as many other national publications, shares tips on how — and why – to get a bylined...
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By NAPA Net Staff | 12/26/2012
Have you ever been involved with a plan sponsored by a company that's either merging with or acquiring another? Though most advisors “should not try this at home,” it’s good to understand the issues, and get in front of them if possible — since this may, in the end, determine whether the advisor is...
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By NAPA Net Staff | 12/26/2012
Many firms provide market forecasts, but Morningstar has a few special things going for it — such as being unbiased (ostensibly) and having an analyst named Heather Brilliant. Ms. Brilliant’s forecast for 2013 includes these elements:• The market is fairly valued, so don’t expect multiple expansion...
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By NAPA Net Staff | 12/26/2012
The death of DB plans is not greatly exaggerated, according to a Vanguard survey of DB plans. Though most do not anticipate any major changes in design or status going forward, based on surveys with 169 plans encompassing $167 billion in plan assets, 57% of plans closed or froze their plans. In...
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By NAPA Net Staff | 12/26/2012
Lest you think that the IRS is just out to catch mistakes and run up revenue from fines and penalties, here are a few simple and straightforward ways to stay out of trouble, courtesy of the agency:• Common Mistakes During Plan Audits • Whether IRS Loan Limits Apply to All Plans • Late Deposit of...
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By NAPA Net Staff | 12/21/2012
The staff at NAPA Net will be taking a well-deserved break from our “Daily” grind Dec. 24-25 to celebrate the holidays. Since our launch on Oct. 1, we have tried to deliver relevant and important news and practical tips to help plan advisors build, grow and manage their retirement practice. Knowing...
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By NAPA Net Staff | 12/21/2012
U.S. retirement plan assets approached $20 trillion in Q3 2012, according to an ICI report, which is a new record. At $19.7 trillion, there was an increase of 3.7% compared with Q2, due mostly to an increase in equities, including DB, DC, IRA, annuity reserves and government plans. Both 401(k)...
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By NAPA Net Staff | 12/21/2012
By Brian Graff, NAPA Executive Director/CEOAs the holiday approaches, I wish I had better news, but I'm afraid I do not. As you have likely heard, on Dec. 20 the Republican leadership withdrew its so-called “Plan B” alternative, which would have extended tax rates for those earning less than $1...
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By NAPA Net Staff | 12/20/2012
With 2012 almost gone, this is a good time to look forward to next year. Vanguard provides a simple 2013 compliance calendar for plan sponsors, including requirements for plan- and participant-level fee disclosure. Activities and report deadlines include:• 5500 filings and extensions• ADP/ACP tests...
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By NAPA Net Staff | 12/20/2012
Advisors who don’t embrace technology in their practice will not only be at a severe competitive disadvantage, they will lose out on a generation of investors who live on their mobile devices and the Internet, especially social media sites. AdvisorOne reviews the seven major technology trends...
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By NAPA Net Staff | 12/20/2012
Yet another life insurer, Sun Life, seems to have answered that question in the affirmative, announcing the sale of its U.S. annuity business to Guggenheim Partners’ Delaware Life Holdings division on Dec. 18. Sun Life’s decision to unload its annuity business likely reflects a shared concern among...
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By NAPA Net Staff | 12/20/2012
A provision in President Obama’s latest proposal to avoid the pending fiscal cliff would penalize small business owners by subjecting them to double taxation, according to Brian H. Graff, CEO/Executive Director of NAPA and ASPPA.The president’s latest offer to House Speaker John Boehner (R-OH) in...
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By NAPA Net Staff | 12/19/2012
In an era of low interest rates and risky markets, should advisors consider recommending alternative investments like real estate? Before you say yes, consider these practical considerations:• Prohibited transactions — either outright or self dealing — and conflict-of-interest rules• Even greater...
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By NAPA Net Staff | 12/19/2012
Editor’s Note: This article was published in the November/December issue of "Market Beat," published by the National Tax Sheltered Accounts Association (NTSAA), the nation's only independent, non-profit association dedicated to the 403(b) and 457 markets. By Michael WebbMany advisors who are...
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By NAPA Net Staff | 12/18/2012
Though most larger companies and government entities are backing away from defined benefit plans, DBs might make sense for smaller firms where the principals are looking to put away at least $50,000 and have a 5- to 10-year time horizon. With taxes likely to go up and Congress looking at lowering...
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By NAPA Net Staff | 12/18/2012
Do we need another retirement scheme that fits somewhere between 401(k)s and Social Security? The answer is yes, according to Santa Clara professor Meir Statman. Too many people either don’t participate in or save enough in the “libertarian” 401(k) scheme, Statman, says, in part because of...
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