Last Week on NAPA Net

Highlights of our posts for the week of Feb. 18, 2013 included: Plan Design and Compliance • Did the DOL overreach when it used MEWAs as the model to restrict MEPs for unaffiliated companies? NAPA Conductor Mike Montgomery, citing an article by attorney Charles Humphrey, thinks so. • Rick Meigs provides practical tips on ways to increase participation. • John Carl of the Retirement Learning Center answers the question of whether it’s too late to set up a retirement plan for 2012. Service Providers • Charles Schwab announced first-year results for its all-index product. • BoA/Merrill Lynch recorded a 28% increase in sales for 2012. • KeyCorp sold Victory Capital to management and private equity. Investments • Russell Investments introduced what could be the next generation of TDFs. Trends and Research • Hybrid advisors grew faster than RIAs, according to Cerulli. • Gen X and Gen Y need education on financial literacy, according to a LIMRA study. • The Washington Post questioned the effectiveness of 401(k) plans. • Brian Graff responded to the Washington Post article, highlighting four common myths about 401(k) plans. NAPA and the 401(k) Summit • The March 21 NAPA webcast free to members will include Brad Campbell discussing what to expect from the DOL this year regarding TDFs. • Michael Kane, the last of the three 401(k) Leadership Award finalists, was profiled. • A session at the 401(k) Summit will review what advisors can do when clients are involved in a merger or acquisition. • Reading the mind of plan sponsors will be the theme of an upcoming 401(k) Summit session.