Participants from three Fidelity DC plans have filed a lawsuit (free registration required) in the U.S. District Court in Boston alleging that Fidelity improperly used float income from interest... Read More
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Regulatory Compliance
BY NAPA Net Staff | 2/1/2013
What do Congress and federal regulators have in store for the retirement industry in 2013? According to Aon Hewitt, although health care will get the most attention on the benefits front, retirement... Read More
BY NAPA Net Staff | 1/31/2013
Is consulting on a 401(k) plan considered a violation of FINRA’s rules prohibiting outside business activities? A broker recently settled with FINRA on this issue without admitting or denying the... Read More
BY NAPA Net Staff | 1/22/2013
Will the 401(k) industry have another federal agency looking over its shoulder? Though the SEC and DOL have been the primary regulators, there are signs that the Consumer Financial Protection Bureau... Read More
BY NAPA Net Staff | 1/14/2013
The prevailing wisdom about the DOL’s fee disclosure rules is that they were ineffective and failed to move the needle on participant behavior. Numerous studies and polls have confirmed this... Read More
BY NAPA Net Staff | 1/11/2013
Sungard Relius, a reliable source of technical information for plan professionals, tackles the question of how to correct improper exclusions in a safe harbor plan. As part of answering that question... Read More
BY Robert J. Rafter | 1/9/2013
In a post on the DOL’s blog, EBSA’s Phyllis Borzi boasts that the agency “protected or recovered” more than $1.2 billion in FY 2012 “for workers who participate in private-sector employee benefit... Read More
BY NAPA Net Staff | 1/9/2013
The IRS recently announced the new tax withholding tables resulting from the American Taxpayer Relief Act, a.k.a the fiscal cliff legislation. Employers should begin withholding Social Security tax... Read More
BY NAPA Net Staff | 12/31/2012
The vast majority of retirement plans do not have to be audited, leading some to argue that the 100-eligible-employee threshold, which has been in place for a while, should be increased. Regardless,... Read More
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 (... Read More
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:•... Read More
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... Read More
BY NAPA Net Staff | 12/17/2012
New York Times business columnist Gretchen Morgenson lauded the attempt by the EBSA’s Phyllis Borzi to change the rules related to the retirement plans of bankrupt companies. Reviewing the plight of... Read More
BY NAPA Net Staff | 12/17/2012
The DOL is moving forward with its plan to issue a new proposed regulation on retirement plan benefit statements. Reportedly, the proposed regulation will include the DOL’s initiative on lifetime... Read More
BY NAPA Net Staff | 12/11/2012
The U.S Department of Labor's Employee Benefits Security Administration announced Dec. 11 a proposed rule and related class exemption that will make it easier for Chapter 7 bankruptcy trustees to... Read More
BY NAPA Net Staff | 12/5/2012
Though the nation’s political pundits are talking more and more about going over the fiscal cliff as if it's likely, not just possible, it’s important to maintain perspective. With a deadline of Dec... 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.... 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... 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... Read More
BY NAPA Net Staff | 11/14/2012
One of the more controversial regulations proposed by the DOL under President Obama was their plan to broaden the definition of fiduciary to include more financial advisors. According to a BNA report... Read More
BY NAPA Net Staff | 11/8/2012
Michael Davis will be leaving his position as Deputy Assistant Secretary of the Employee Benefits Security Administration (EBSA) at the Department of Labor for a position in the private sector, he... Read More
BY NAPA Net Staff | 11/7/2012
By John Carl The 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... Read More
BY NAPA Net Staff | 10/31/2012
Despite the weight of anecdotal evidence suggesting that the DOL’s fee disclosure regulations are not achieving at least one of their main goals — educating participants — the rules are here to stay... Read More
BY NAPA Net Staff | 10/19/2012
The Internal Revenue Service announced on Oct. 19 the annual cost-of-living adjustments affecting dollar limitations and thresholds for pension plans and other retirement-related items (i.e., IRAs,... Read More
BY NAPA Net Staff | 10/15/2012
By Thomas D. CloughAccording to a recent study by Alliance Bernstein, only 63% of all plan sponsors consider themselves to be plan fiduciaries. The cases summarized below highlight the DOL’s... Read More
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