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NAPA Net Staff

By NAPA Net Staff | 11/29/2012
According to research involving DC plans with over $6 billion in assets conducted on behalf of advisors by Chatham Partners — famous for their provider win/loss studies — 81% of plan sponsors sought advisors through referrals, with very few responding to cold call solicitation. An average of five... READ MORE
By NAPA Net Staff | 11/29/2012
The growth of RIA firms continues, fueled by recruitment, breakaway brokers and clients putting more money into the channel, according to a study by the market research firm Cerulli Associates. Bigger firms (those with more than $1 billion) are gaining market share more quickly and achieving scale... READ MORE
By NAPA Net Staff | 11/28/2012
In today’s world of instant gratification, it’s no wonder that workers value short-term benefits the most. According to a worldwide study of more than 10,000 workers conducted by Mercer, a salary increase was preferred over all types of benefits. While saving for retirement may seem to some like... READ MORE
By NAPA Net Staff | 11/28/2012
According to the Employee Benefit Research Institute (EBRI), the three-year decline in participation rates precipitated by the Great Recession halted in 2011, as 54% of full-time workers age 21-64 participated in their employers’ retirement plans. When part-time, seasonal and self-employed workers... READ MORE
By NAPA Net Staff | 11/27/2012
If you thought lawsuits against 401(k) plans were dead, think again. Renowned plaintiff’s attorney Jerome Schlichter won a battle against Ameriprise when a federal judge in St. Paul, MN refused to dismiss Schlichter’s case, which claims that the 14,000 participants in Ameriprise’s $1 billion plan... READ MORE
By NAPA Net Staff | 11/27/2012
In a survey of 100 DC plans conducted by NEPC, (free registration required) a DC and pension consultant, fees and revenue charged by record keepers dropped 5 basis points over the 15-month period ending March 31, 2012. According to NEPC, revenue related to record keeping, custody and trust also... READ MORE
By NAPA Net Staff | 11/27/2012
NAPA and ASPPA have launched the Save My 401k campaign to protect the tax incentives of employer-sponsored retirement plans from the threat of tax reform. The goal: to educate members of Congress and urge them to preserve those tax incentives.“The single most important factor in determining if a... READ MORE
By NAPA Net Staff | 11/26/2012
Last Wednesday’s NAPA Net Daily included two noteworthy stories. If you missed that issue because you were in a rush to get to Grandma’s house, the stories described:• Ascensus’ acquisition of ExpertPlan; and• additional time for ING to divest its U.S. holdings under the terms of a deal it made... READ MORE
By NAPA Net Staff | 11/26/2012
Though the market rebounded last week, investors pulled out of equities, according to a Lipper report for the week ending Nov. 21. It may have been the threat of the impending fiscal cliff that caused the largest weekly outflow of money from mutual funds and ETFs since late July. On the other hand... READ MORE
By NAPA Net Staff | 11/26/2012
Using data from Denmark, an academic researcher showed that tax breaks for retirement savings have little effect on how many people save, especially those with lower incomes. As reported in a New York Times blog on economics, the researchers used Danish data because it was more detailed and because... READ MORE
By NAPA Net Staff | 11/21/2012
By John CarlThe ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs and qualified retirement plans. A recent call with an advisor in Maryland is representative of a... READ MORE
By NAPA Net Staff | 11/20/2012
While many provider and advisor groups like ASPPA and NAPA have begun to marshal their forces to protect against reductions in retirement savings tax incentives, as Congress begins to tackle the budget deficit it is even more important that employers step up and voice their support for DC plans. To... READ MORE
By NAPA Net Staff | 11/20/2012
Sometimes it feels like the Great Recession was like Hurricane Sandy: devastating, unexpected and with far-reaching effects, especially on retirement savings and policy. In times of crisis, we turn to leaders; and there is no better leadership institution trained to deal with crisis than the... READ MORE
By NAPA Net Staff | 11/20/2012
Emboldened by the certainty of four more years, the Obama administration in general and EBSA in particular are expected to extend and more vigorously enforce the agenda and regulations promulgated in the president’s first term. For example, legal experts predict that improper receipt of undisclosed... READ MORE
By NAPA Net Staff | 11/19/2012
Some advisors argue whether the recent DOL fee disclosure regs were either the latest version of Y2K, or the biggest waste of paper known to mankind. While no one is arguing against fee transparency, the formats do leave a lot to be desired. Yet a recent study by AARP indicates that 75% of plan... READ MORE
By NAPA Net Staff | 11/19/2012
A survey by TIAA-CREF shows that people receiving individualized financial advice (compared with general guidance) are more likely to act — yet many people find it hard to get that advice or think it's too expensive. Results varied by age group, gender and other factors. Those who did get advice... READ MORE
By NAPA Net Staff | 11/19/2012
Some people argue against any kind of hardship withdrawal or loan from a retirement plan, but few would argue about the special circumstances surrounding the consequences of Hurricane Sandy. Accordingly, the IRS announced on Nov. 16 that participants in a qualified plan may make hardship... READ MORE
By NAPA Net Staff | 11/19/2012
By Joan Neri, Esq. RIAs should know what it means to be a “designated investment manager” (DIM). This is important because under DOL guidance, if an RIA is a DIM, then the RIA’s investment management strategies — including asset allocations — are not considered designated investment alternatives... READ MORE
By NAPA Net Staff | 11/16/2012
When all is said and done, Hurricane Sandy will probably weigh in as the second most costly storm in U.S. history. As the Northeast slowly struggles to return to normal, relief and recovery efforts will yield to getting back to business. Employers in affected areas have questions about what they... READ MORE
By NAPA Net Staff | 11/15/2012
With Democrats now controlling the New Hampshire legislature, the Granite State’s move toward DC plans and away from DB plans for new government workers seems to be dead. States and local government entities around the country have been very active in this arena, with many moving to DC plans for... READ MORE

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