Facing huge pension deficits as their population ages without significant retirement savings, China has announced a 401(k)-like scheme that will include tax exemptions. Their current state-run... Read More
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Technical competence
BY Fred Barstein | 12/9/2013
While it’s interesting to read about the pension crises of many well-known states and municipalities, including Detroit, Illinois, Chicago and Stockton, and how they might affect current and former... Read More
BY John Ortman | 12/6/2013
The U.S. Supreme Court will hear a case that could dictate how inherited IRAs are treated in bankruptcy. In a decision that could affect retirement and estate planning, the Court will hear arguments... Read More
BY Fred Barstein | 12/5/2013
Perhaps emboldened by this week's decision in the Detroit bankruptcy case and passage of a state pension reform bill by Illinois lawmakers on Dec. 3, Chicago Mayor Rahm Emanuel is pushing to reduce... Read More
BY Fred Barstein | 12/4/2013
Other than as part of a DOL settlement, plan fiduciaries are not required to get formal training on how to run their DC plan. According to Fiduciary Plan Governance’s Charles Humphrey, however,... Read More
BY Fred Barstein | 12/4/2013
In a decision that will reverberate across the country, U.S. Bankruptcy Court Judge Steven Rhodes ruled Dec. 3 that Detroit may cut pension obligations as part of a move to relieve itself of crushing... Read More
BY Fred Barstein | 12/3/2013
Though the promulgation of rules governing the fiduciary status of advisors is top of mind for the DC industry and plan advisors, the issue does not seem to be as urgent for the SEC. In a recently... Read More
BY Fred Barstein | 12/2/2013
With $100 billion in underfunded pensions and the worst credit rating in the country, Illinois lawmakers recently proposed changes to their state pension system that they claim would save $160... Read More
BY John Ortman | 11/29/2013
The ERISA attorneys at Ivins, Phillips and Barker recommend these four topics for your next investment committee meeting agenda:1. Fees. This is still the No. 1 topic of discussion, as lawsuits... Read More
BY Ronald J. Triche | 11/25/2013
On Nov. 22, 2013, the SEC's Investment Advisory Committee adopted the following recommendations that were proposed by the committee’s Investor-as-Purchaser Subcommittee.Registered Investment Advisor... Read More
BY Fred Barstein | 11/22/2013
Jim Phillips, a plan advisor in Massachusetts and contributor to The Wall Street Journal’s Marketwatch site, calls the DC industry on the carpet for the confusing jargon we use when dealing with plan... Read More
BY John Ortman | 11/21/2013
ERISA sets a high bar for fiduciary decision-making, essentially requiring plan fiduciaries to act as prudent experts might be expected to act — not just a prudent person. Similarly, when appointing... Read More
BY Fred Barstein | 11/18/2013
Though the for-profit DC market is still rich with opportunities for experienced plan advisors, some advisors in the mid market are seeing increased competition. Many plan advisors shy away from the... Read More
BY Fred Barstein | 11/18/2013
Just as individual investors have put more money into equities in anticipation of rising interest rates — dubbed “the great rotation” by Bank of America — pension funds and insurance companies are... Read More
BY Fred Barstein | 11/11/2013
In the wake of the Detroit bankruptcy and allegations of mismanagement of the city’s pension funds, New York State financial regulators have issued subpoenas to 20 consultants and advisors to state... Read More
BY Ray Harmon | 11/6/2013
A new report from the U.S. Government Accountability Office (GAO) recommends that the Labor and Treasury Departments collaborate on default electronic delivery rules for pension-related disclosures.... Read More
BY Fred Barstein | 11/6/2013
The city of Stockton, CA is set to emerge from bankruptcy next year in a settlement with bond holders that does not include cutting back on pension rights. All over the country, there’s a reckoning... Read More
BY Fred Barstein | 11/1/2013
There’s a saying that if you’re a hammer, the whole world looks like a nail. For plan advisors focused on 401(k) plans, they might be offering K plans to all clients — even those that might be too... Read More
BY John Ortman | 11/1/2013
The Internal Revenue Service announced on Thursday cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014. Some limits will... Read More
BY Fred Barstein | 10/30/2013
Creating an Investment Policy Statement seems to be an accepted best practice by most plan advisors. Are "Education Policy Statements" the next wave? Performance of DC plans could be improved more... Read More
BY Fred Barstein | 10/23/2013
According to research from academics at the University of Colorado, the University of Virginia and Catholic University, financial education and training has a 0.1% effect on behavior. Analyzing 168... Read More
BY Fred Barstein | 10/21/2013
Is there any constitutional right, state or federal, that is absolute? This issue was considered last week by a bankruptcy judge in Michigan who is hearing arguments in the Detroit Chapter 9 filing.... Read More
BY Fred Barstein | 10/21/2013
DB plans with tens of billions in assets are waiting to transfer the risk to third-party insurance companies when interest rates rise, according to a report by P... Read More
BY Fred Barstein | 10/17/2013
A number of mayors from cities in California like Anaheim, San Bernardino, San Jose and Santa Ana have banded together to create the Coalition for Fair and Sustainable Pensions to address state... Read More
BY Fred Barstein | 10/15/2013
Is the move toward using a 3(16) fiduciary inevitable? According to the folks at Fiduciary Plan Governance, the answer is yes. But what does it mean to plan advisors, and should they be adopting the... Read More
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