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NAPA Net Staff
By NAPA Net Staff | 3/5/2013
After Day 2 of the 2013 NAPA/ASPPA 401(k) Summit, several themes have emerged in the presentations and off-the-cuff remarks by the conference’s featured speakers, especially on the topic of tax reform. One of these themes was sounded loud and clear by ERISA attorney David Levine of the Groom Law...
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By NAPA Net Staff | 3/5/2013
The advisory team at Fiduciary Consulting Group @ PSA in Hunt Valley, Md., has won the 2013 401(k) Advisor Leadership Award, ASPPA announced yesterday. Jania Stout, Retirement Plans Practice Leader at PSA, received the award on behalf of the team during a session of the 12th annual NAPA/ASPPA 401(k...
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By NAPA Net Staff | 3/4/2013
With all the debate and attention by the press on 401(k)s, much of which has been negative lately, four senior policy and industry people debated the issues at NAPA’s 401(k) Summit in Las Vegas.Moderated by Brian Graff, NAPA’s CEO/Executive Director, the panel included Merrill Lynch’s Kevin Crain,...
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By NAPA Net Staff | 3/4/2013
If you think Washington’s struggle with the fiscal cliff back in December and the sequester brouhaha in recent weeks has derailed efforts on Capitol Hill to tackle tax reform, think again.That’s the message Brian Graff delivered to 1,400 advisers and retirement industry insiders yesterday at the...
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By NAPA Net Staff | 3/3/2013
Highlights of our posts for the week of Feb. 25 included:
Practice Management
• Tapping experts in their fields, AdvisorOne reviewed the issues most likely to affect advisors and their clients in 2013.
• Brodie Wood of Transamerica offered insights on how in the fields of health care and higher...
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By NAPA Net Staff | 3/3/2013
In a conference call, DC legal experts Fred Reish and Drinker Biddle partner Brad Campbell outlined what to expect from the DOL’s expected July release of proposed rules on the definition of a fiduciary. The rules are expected to go beyond plan-level fiduciary status, addressing the solicitation of...
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By NAPA Net Staff | 3/1/2013
Editor’s Note: This is the last in a series of posts by speakers at the 2013 NAPA/ASPPA 401(k) Summit, March 3-5, 2013 in Las Vegas. Jonathon Dues, Senior Vice President, Business Development/Investment Strategies, Mesirow Financial Investment Strategies, offers insights into how institutional...
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By NAPA Net Staff | 3/1/2013
The 2013 NAPA/ASPPA 401(k) Summit kicks off in Las Vegas this Sunday, and runs through Tuesday, March 5. We'll be reporting on general sessions, workshops and other events at the Summit — look for our Summit coverage in the Daily, starting on Monday.
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By NAPA Net Staff | 3/1/2013
Here are the 10 most-read items on NAPA Net last month, listed Letterman-style:10. In California’s ‘State-Run’ Program, Auto-IRAs Could Become a Reality9. Retirement Issues Advisors Should Focus on in 20138. ERISA Budgets — Be Careful!7. Acquisition Bug Bites Ascensus6. Case of the Week: Asset vs....
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By NAPA Net Staff | 3/1/2013
Though 58% of Americans admit to not having a plan for retirement and 39% admit that what they have is insufficient, according to research by Deloitte, 57% prefer to handle their finances without help, and 38% say they don’t need help. Into that void have stepped a number of providers offering...
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By NAPA Net Staff | 3/1/2013
While not answering the question of the percentage of plans that switch record keepers, in an interview with 401kWire (subscription only access), Ron Bush of Brightwork Partners noted that in his firm’s recent advisor survey, 35% of plans which changed advisors also changed record keepers within 12...
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By NAPA Net Staff | 3/1/2013
Quoting Fed governor Jeremy Stein — and perhaps channeling Alan Greenspan — Bill Gross, in his latest investment outlook, ponders the question of whether we’re experiencing another bout of irrational exuberance with the recent run-up of the market. Is it sustainable, or are we playing a game of...
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By NAPA Net Staff | 2/28/2013
What’s on the minds of of regulators at the IRS and SEC this year? At the IRS, 401(k) plans for sure, along with 403(b) plans — with a focus on failure to have internal controls or to follow the ones in place, according to the law firm Bryan Cave. Issues differ depending on the business type and...
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By NAPA Net Staff | 2/28/2013
Thanks to our readers who participated in last week’s survey. How do you compare to your peers? Here’s a breakdown of the 100 responses we received: Plans Under Management< 10: 11%10-25: 22%26-100: 51%> 100: 16%Assets Under Management< $1 million: 2...
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By NAPA Net Staff | 2/28/2013
In an effort to offset bailout payments, 11 European countries, including Germany and France, have enacted a new tax set to take effect next year on the sale of stocks, bonds and other investment products of European countries. The so-called “Financial Transaction Tax” is estimated to raise $45...
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By NAPA Net Staff | 2/27/2013
Tapping experts in their fields, AdvisorOne reviewed the issues most likely to affect advisors and their clients in 2013. These issues include:1. The new fiduciary rule expected from the DOL by July. The industry is concerned about greater fiduciary scrutiny for small plans, with some experts...
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By NAPA Net Staff | 2/27/2013
A Brookings Institution report released Feb. 26 recommends curtailing the benefits for top earners to boost tax revenues. Defined contribution plans reward higher earners who would save anyway while not providing enough incentive for low and middle-income earners, according to Karen Dynan, co-...
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By NAPA Net Staff | 2/26/2013
On the heels of Schwab’s recent announcement touting the success of their index-only 401(k) service — which garnered $4 billion of new assets in 12 months — one blogger takes issue with some of their claims. Felix Salmon of Seeking Alpha [free registration required] points out that while index...
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By NAPA Net Staff | 2/26/2013
There was very little change in the total costs of smaller 401(k) plans in 2012, according to statistics from the 401k Averages Book. The average cost of a small retirement plan (50 participants and $2.5 million) went down less than 1%, from 147 BPs to 146 BPs. Meanwhile, larger plans (1,000...
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By NAPA Net Staff | 2/26/2013
Editor’s Note: This is the latest in a series of posts by speakers at the 2013 NAPA/ASPPA 401(k) Summit, March 3-5, 2013 in Las Vegas. Brodie Wood, Vice President, Transamerica Retirement Solutions, offers insights on how in the fields of health care and higher education, retirement savings plan...
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