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Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams9/17/2013 • 0 Comments

There’s an old saying: “You can lead a horse to water, but you can’t make him drink.” It’s a sentiment expressed by many a benefits manager (or retirement plan advisor) who has devoted significant time and effort to plan design, only to find the adoption rate by individual workers to be “disappointing.” READ MORE

By Nevin Adams9/10/2013 • 0 Comments

Growing up, I remember late night TV programs being punctuated by commercials touting a series of interesting products — everything from a rod-and-reel contraption that would fit in your pocket to a special set of knives that would, apparently, slice through any substance in the known universe without ever having to be sharpened. READ MORE

By Nevin Adams9/3/2013 • 0 Comments

IRAs hold more than 25% of all retirement assets in the United States, which makes them a vital component of the nation’s retirement savings. In fact, as an account type, IRAs currently hold the largest single share of U.S. retirement plan assets. READ MORE

Fred Barstein

Fred Barstein

Fred Barstein

By Fred Barstein9/30/2013 • 0 Comments

Fallout over the way CFPs report their compensation on the CFP website continues, as two wire houses instructed their advisors not to use fee only. Both Morgan Stanley and Merrill Lynch ordered immediate action in a note sent to all reps. Morgan has 1,580 CFPs and Merrill has 1,560; the Wall Street Journal found that 181 Morgan and 125 Merrill reps had been listed as fee only. READ MORE

By Fred Barstein9/30/2013 • 1 Comments

Business reasons and changing market dynamics have caused Fidelity to get more aggressive in the equity allocation for their estimated $175 billion in TDF funds. RIABiz reporter Brooke Southall outlines the reasons why Fidelity may be making these changes, including research establishing that investors are more willing to accept risk and the fact that they are living longer and investing sooner. READ MORE

By Fred Barstein9/30/2013 • 2 Comments

At this past weekend’s LPL Retirement Partner Group meeting, 350 plan advisors gathered in Colorado Springs, including many of the 105 advisors recruited in 2013. Bill Chetney, SVP and group leader, said that while advisors have changed the DC and retirement market, there’s a long way to go. Chetney told the group that helping participants manage their retirement portfolio to and through retirement is the next and perhaps most daunting challenge. READ MORE

By Fred Barstein9/27/2013 • 0 Comments

As the debate continues to rage over whether ETFs will become popular in 401(k) plans, Brightscope has released a list of the most popular funds. Vanguard’s Total Bond Market remained at the top of the list, even as many are fleeing bonds in anticipation of rising interest rates. And the SPDR S&P 500 jumped to the second spot from number 13 as people try to ride gains in the stock market. READ MORE

By Fred Barstein9/27/2013 • 0 Comments

News about Detroit’s pension plan shortfalls only gets worse. A new report by the New York Times indicates that excess payments of $2.3 billion might have been paid to retirees and active workers over a 23-year period from 1985-2005. Bonuses were paid to retirees; supplemental payments were made to active workers; and cash was paid to families of deceased workers before they were eligible. READ MORE

By Fred Barstein9/26/2013 • 1 Comments

There’s a huge controversy brewing in the world of fee-only planners in the wake of the CFP Board’s decision to reset compensation models for all planners on their website to “none provided.” An email sent to all CFP holders last week directed designees to reread the policy about fee-only standards and then select the appropriate compensation model. READ MORE

By Fred Barstein9/26/2013 • 0 Comments

An estimated 130 online financial advisory services have launched since the Great Recession — many in the last two years — but these firms are struggling to gain traction and achieve profitability. While they target the emerging wealthy market (investors with $50,000-$250,000), accounts tend to be smaller. And competition is driving prices down, with some predicting consolidation as early pioneers end up face down with arrows in their backs. READ MORE

By Fred Barstein9/25/2013 • 4 Comments

In an exclusive interview with Chris Carosa of FiduciaryNews, EBSA Director Phyllis Borzi weighs in on several key topics — including her agency’s commitment to redefining the fiduciary rule to protect investors from what she calls “conflicted advice.” READ MORE

By Fred Barstein9/25/2013 • 1 Comments

Commenting on what he calls the biggest inside joke that almost everyone has caught on to, advisor Alex Murguia officially pronounced the death of automatic “out-of-office” email responses. Here’s what people really think when they get your out-of-office response: READ MORE

By Fred Barstein9/24/2013 • 0 Comments

NAPA has launched the NAPA Research Institute (NRI), naming Warren Cormier as its Executive Director. Cormier is also President and Founder of the Boston Research Group and Co-Founder of the BeFi Forum (now part of the Rand Institute) with Prof. Shlomo Benartzi. READ MORE

By Fred Barstein9/24/2013 • 0 Comments

Should your clients have separate committees — one focused on fiduciary matters like investment and provider selection and monitoring, and the other focused on so-called settlor functions like plan design? This question was discussed recently by a panel of experts at the PSCA’s 66th annual conference. READ MORE

By Fred Barstein9/24/2013 • 0 Comments

Think that DC plan participant education is dead? Stanford Graduate School of Business professor Joshua Rauh thinks otherwise. He’s teaching an eight-week online course about the fundamentals of retirement plan investing for private as well as public pension plans. Rauh’s course is intended to help students make informed decisions about their portfolios with strategies to improve asset allocation. It will also include guest lecturers addressing public policy issues affecting the retirement industry. READ MORE

By Fred Barstein9/23/2013 • 1 Comments

As previously reported on NAPA Net, FINRA approved a proposal requiring brokers to disclose recruitment compensation paid to them as an incentive to move to a new firm. The proposal will be submitted to the SEC for review and approval. READ MORE

By Fred Barstein9/23/2013 • 0 Comments

ERISA expert Fred Reish raises the question of who at the plan sponsor should be receiving disclosure documents. In a rush to get mass disclosure documents out last year, service providers may have inadvertently sent some of them to the wrong person. According to Reish, the right person is the so-called “Responsible Plan Fiduciary,” or the person with the power to hire and fire the provider. READ MORE

By Fred Barstein9/23/2013 • 0 Comments

Attorney (and FRA/PlanTools blogger) Thomas Clark reports a major victory for plaintiffs in Spano v. Boeing Co., one of the original 401(k) excessive fee cases filed in 2006 by Jerome Schlichter. The court granted the amended motion for class action in the case, which will now be allowed to proceed. READ MORE

By Fred Barstein9/20/2013 • 0 Comments

As CalPERS contemplates a move toward more passive investments, the question arises of what the liabilities and consequences would be. Blogger Stephen Rosenberg of The McCormack Firm in Boston asks whether plan sponsors which move to nothing but indexed investments will be sued by participants who claim that they could have done better with some active management. He also raises this question: In an all-passive world, who will be available to trade with? READ MORE

By Fred Barstein9/19/2013 • 0 Comments

This week’s first annual NAPA DC Fly-in Forum was a seminal event in the evolution of the plan advisor profession — the latest in a series of initiatives by ASPPA and NAPA to help the profession move to the next level. READ MORE

By Fred Barstein9/19/2013 • 0 Comments

According to research by Cerulli, the financial planning industry is expected to lose 25,000 professionals over the next five years because of fewer recruits at wire houses and brokerage firms. Similarly, the CFP Board of Standards says that two-thirds of finance majors did not take the CFP exam. READ MORE

By Fred Barstein9/18/2013 • 0 Comments

Amid the chaos and concerns caused by the Washington Navy Yard shootings, business was almost as usual in Washington this week. But for the first time, a large group of plan advisors were part of the legislative process. Nearly 100 NAPA plan advisors -- with $1 trillion AUM, and representing 2.7 million participants and 8,300 plans -- are meeting with congressional leaders to highlight the value of the current retirement system, the importance of protecting the federal tax deferral for retirement savings, and the value that plan advisors bring to their clients to help them prepare for retirement. READ MORE

By Fred Barstein9/18/2013 • 0 Comments

As part of the process by ING US to be become more independent, the parent company recently announced its intent to sell stock currently held in an S1 filing with the Securities and Exchange Commission. ING US, which eventually will be renamed Voya, went public on May 1, 2013, so underwriters had to waive the 180-day lock-up period. READ MORE

By Fred Barstein9/18/2013 • 0 Comments

Addressing the first annual NAPA DC Fly-in Forum on Sept. 17, Mark Iwry, the Department of Treasury’s Senior Advisor on Health Care and Retirement Policy, spoke about his auto-IRA proposal. The proposal is intended to address the coverage issue, as tens of millions of American workers still do not have access to an employer sponsored retirement plan. READ MORE

By Fred Barstein9/17/2013 • 1 Comments

Call it “the Lehmann Effect” or “the five-year witching hour,” but funds that suffered the most during the Great Recession are about to post stellar five-year returns — which they will no doubt be highlighting as net outflows for equity funds continue. According to a Wall Street Journal MarketWatch report, the average large cap growth fund, which had a 6.38% return entering September 2013, will post a 15.16% return by year end even if the markets remain flat. Other sectors like large cap core and financial services will fare even better. READ MORE

By Fred Barstein9/17/2013 • 1 Comments

As the retirement industry is fighting to keep money market funds in pension plans and the SEC considers reforms spurred by the Great Recession, others are questioning whether MMFs belong in DC plans at all. In comment letters to the SEC, pension executives argue that MMFs offer stability, liquidity and low cost, with half of DC and DB plans offering them as an investment option. READ MORE

By Fred Barstein9/16/2013 • 0 Comments

Speaking on a wide range of issues at last week’s Plan Sponsor Council of America conference, EBSA head Phyllis Borzi commented on a number of pending issues near and dear to the hearts of DC advisors and providers, including fee disclosure, lifetime income illustrations in participant statements and the much-anticipated redefinition of fiduciary rule. READ MORE

By Fred Barstein9/16/2013 • 0 Comments

This week, FINRA’s board will take up the issue of whether advisors will be required to report bonuses received when switching broker dealers. The issue had been on the agenda for their July board meeting, but scheduling delayed its consideration. READ MORE

By Fred Barstein9/16/2013 • 0 Comments

According to the benefits consulting firm Schneider Downs, the EBSA’s Office of Chief Accountant will be looking into the professional standards and compliance work of 400 ERISA auditors. Letters are expected to be sent out to plan sponsors requesting copies of the work papers; they will have 15 days to respond. READ MORE

By Fred Barstein9/16/2013 • 1 Comments

The percentage of American workers expecting to work after turning 65 has risen more than three-fold since 1991, with 25% adjusting their timetable in just the past year, according to EBRI. More than a third (36%) of workers plan to work past 65, up from 11% in 1991 — with 7% indicating that they have no plans to retire at all. Of the 25% who adjusted their retirement age this year, 88% indicated that they would work longer. READ MORE

By Fred Barstein9/13/2013 • 1 Comments

On Monday, Sept. 16, the CalPERS investment Committee will meet. The big topic: whether to move more aggressively to passive strategies. RIABiz’s Lisa Shidler describes how the retirement industry is closely watching the $260 billion bellwether pension fund, which already has 35% of its assets in passive funds and went all-passive with its $1.6 billion Supplemental Income Plan. READ MORE

By Fred Barstein9/12/2013 • 0 Comments

According to an article in the Wall Street Journal’s “CFO Journal” reporting on a Duke/CFO magazine study, more CFOs are expecting to hire part-time and temporary workers, driven by Obamacare mandates and concerns about the economy. In addition, CFOs are expected to rely on outside firms and consultants, with 25% looking to hire foreign full-time workers. In fact, 59% of CFOs increased their proportion of part-time, temporary and outsourced workers. READ MORE

By Fred Barstein9/11/2013 • 0 Comments

At this week’s Financial Services Institute meeting in Washington, EBSA chief Phyllis Borzi stated that the redefinition rule will not be forthcoming in October as originally planned and that the delay could be several months. Given the heightened attention on the rule, Borzi wants to make sure that all the details have been worked out. Once the proposed rule is finished, it will be submitted to the White House’s Office of Management and Budget for review — which could take up to 90 days — and then published in the Federal Register for public comment. READ MORE

By Fred Barstein9/11/2013 • 0 Comments

When is the best time for a financial advisor to retire? According to FP Transitions, which has valued 1,000 firms with an average value of $1.4 -$1.5 million, the best age is 59, when advisors are not working so hard. Peak growth for advisors comes between the ages of 45 and 55, so advisors should start considering their exit strategy at age 50. READ MORE

By Fred Barstein9/11/2013 • 1 Comments

As IRA assets have grown larger than those in 401(k)s, it seems only natural that the same debates about fees, oversight and the roles of fiduciaries that have arisen for ERISA plans will emerge for IRAs as well, claims a story by CNBC. Investors are likely to pay higher fees in IRAs without the oversight of a fiduciary in the form of a plan sponsor. The recent GAO study about possible misstatements about costs, FINRA’s concerns about claims of no- or low-fee IRAs and the DOL’s redefinition-of-fiduciary rule encompassing IRAs all make the likelihood of more government scrutiny and oversight likely. READ MORE

By Fred Barstein9/10/2013 • 4 Comments

During a recent conference call at an industry meeting, Jeffrey Turner, EBSA’s deputy director charged with enforcing the rules affecting DC plans, took credit for lower fees, quality and greater transparency in 401(k) plans. There’s no doubt that DOL’s 2012 rules requiring greater disclosure of fees helped focus attention on those issues — perhaps giving the PBS Frontline crew and Yale’s Prof. Ian Ayres the inspiration for their recent actions — but much of the research has shown that plan sponsors, and especially participants, have not taken dramatic action as a result. READ MORE

By Fred Barstein9/9/2013 • 6 Comments

Whether the industry likes it or not, fees will continue to be front and center as a result of the “love letters” from Yale Law School Prof. Ian Ayres and media scrutiny on the effect of fees, as well as increased regulatory scrutiny. Most experts agree that fees will continue to decline for many service providers, including advisors, but they’re also concerned about the effect on the quantity and quality of services offered. READ MORE

By Fred Barstein9/9/2013 • 0 Comments

The tri-fold mission of NAPA Net when it launched on Oct. 1, 2012 was to keep advisors up to speed on important industry developments, especially in Washington; provide an online forum for advisors to connect with each other; and be a portal to industry resources. As a way to deliver on our third goal, we’re pleased to announce the NAPA Net Partner Corner, which highlights the services and positioning of NAPA Firm Partners. READ MORE

By Fred Barstein9/6/2013 • 0 Comments

We always hear about ways advisors use social media and why it makes sense, but rarely do we hear actual success stories. ThinkAdvisor profiled a Morgan Stanley advisor who netted a $70 million client — in three weeks! READ MORE

By Fred Barstein9/6/2013 • 0 Comments

How do fund companies love advisors? Cogent actually counted the ways, outlining the seven most popular means of contact. So if advisors feel like they’re being overwhelmed by investment managers who want their business, perhaps they’re right. READ MORE

By Fred Barstein9/6/2013 • 0 Comments

Compliance TPAs working with larger record keepers can be a valuable resource for advisors looking to improve their business in quantifiable ways. As the most popular service model for plans under $5 million, working with TPAs makes sense in a number of ways. READ MORE

By Fred Barstein9/5/2013 • 0 Comments

Though there’s consensus that the DOL’s proposal to express DC participants' account balance as a stream of income on their statements is a good idea, there’s widespread disparity on how to make the calculations. There’s also concern that participants will think the projections are guarantees, giving rise to fiduciary liability or unrealistic expectations. READ MORE

By Fred Barstein9/5/2013 • 5 Comments

Is online advice about to catch on with 401(k) participants and investors, especially those about to retire? As waves of Baby Boomers begin to retire and roll assets out of DC plans, some online providers are betting that they will need and want advice and will be willing to pay for it. Do these services pose a threat to advisors? READ MORE

By Fred Barstein9/4/2013 • 0 Comments

Though the DCIO market continues to grow at a healthy pace, active money managers that don’t own a record keeping platform or manage TDFs may be left out in the cold. According to research by Strategic Insight, proprietary assets accounted for 46% of all DC assets as of 2012. Fueled by QDIAs, TDFs continue to grow — with a 12% market share at the end of 2012 (up from 5% in 2007). The market share of index funds grew from 10% to 13% over that same period, and is projected to reach 17% by 2018. READ MORE

By Fred Barstein9/3/2013 • 0 Comments

September marks the start of the heavy DC plan selling season. Advisors’ chief concern: Plan sponsors will delay making a decision, for myriad reasons. Though it’s easier to get an AOR change than it is to switch record keepers, any type of decision can cause some plans to delay unless there’s a lot of pain involved. The reasons for delay are heightened during tumultuous times, when other decisions seem more crucial — like the recent financial crisis, for example — or during really good markets when making a change seems unnecessary. READ MORE

By Fred Barstein9/3/2013 • 2 Comments

Some advisors say that education in DC plans should be completely eliminated other than as a fiduciary hedge, arguing that instituting automatic features is more effective. But that sounds counterintuitive, since planning for retirement is such an important activity for everyone. Putnam’s Bob Reynolds makes the argument for education while acknowledging the benefits of automation. READ MORE

By Fred Barstein9/3/2013 • 0 Comments

The premiere issue of NAPA Net – The Magazine goes to print in just a few weeks, followed by the Winter issue in December. In an era when magazines are fading, with media companies and familiar magazines like Time, Newsweek and U.S. News and World Report struggling, it might seem odd that NAPA is launching an ink-on-paper magazine. But that’s exactly what we’re doing — and for several very good reasons. READ MORE

Kathleen Beichert

Kathleen Beichert

Kathleen Beichert

By Kathleen Beichert9/18/2013 • 1 Comments

Since May, interest rates around the world have generally risen, led by the U.S. and its Federal Reserve initiating a discussion on tapering its asset purchases. At OppenheimerFunds we continue to believe that the Fed will not actually begin hiking its policy rate until 2015, but the potential for tapering can be viewed as the first step in a process of transitioning monetary policy from easing to tightening. READ MORE

John Carl

John Carl

By John Carl9/24/2013 • 0 Comments

Responding to a question from an advisor in New York, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question related to the requirements for adopting a safe harbor 401(k) plan. READ MORE

By John Carl9/19/2013 • 0 Comments

Responding to a question from an advisor in New Jersey, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question related to requirements surrounding plan service provider fee disclosures. READ MORE

By John Carl9/11/2013 • 0 Comments

Responding to a question from an advisor in California, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question related to net investment income. READ MORE

By John Carl9/4/2013 • 0 Comments

Responding to a question from an advisor in Minnesota, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed the issue of who is a spouse in states that have enacted same-gender marriage laws and the impact such laws have on 401(k) plan participants. READ MORE

Jim Dornan

Jim Dornan

By Jim Dornan9/20/2013 • 0 Comments

Speaker of the House John Boehner (R-OH) has introduced legislation to fund the federal government until Dec. 15, 2013. The bill, which includes a provision to defund Obamacare, is expected to be voted on sometime today, Sept. 20. The legislation, known as a Continuing Resolution (CR), will then be sent to the Senate, where the provision defunding Obamacare is likely to be removed, and then sent back to the House. This back-and-forth may continue right up until Oct. 1, when all federal government funding is set to expire. READ MORE

Ray Harmon

Ray Harmon

Ray Harmon

By Ray Harmon9/19/2013 • 0 Comments

The DOL announced Sept. 18 that it will be following the example of the recent IRS Revenue Ruling (Rev. Rul. 2013-17) adopting a “state of celebration” standard for defining “spouse” and “marriage” under ERISA. READ MORE

By Ray Harmon9/12/2013 • 0 Comments

As Phyllis Borzi was informing the attendees of the Financial Services Institute’s annual conference this week that the Department of Labor’s forthcoming fiduciary standard proposal will be delayed, AARP released a study of the attitudes of 401(k) and 403(b) participants regarding fiduciary duties and investment advice. READ MORE

Daniel Long

Daniel Long

By Daniel Long9/27/2013 • 4 Comments

“What's in a name? That which we call a rose by any other name would smell as sweet.” In Shakespeare’s timeless love story, Juliet’s romantic plea to Romeo to relinquish his Montague family name was so convincing that he responded, “Henceforth I never will be Romeo.” In one of the most successful sales pitches ever, Juliet convinced Romeo that the names of things actually do not matter. Let’s think about this in the context of retirement plans. READ MORE

Jennifer McKibben

Jennifer McKibben

By Jennifer McKibben9/30/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in the phasing out of out-of-office emails; comments from Phyllis Borzi on DOL’s fiduciary rule, MEPs and advisor fees; the CFP website’s shift in reporting compensation models; FINRA’s approval of broker bonus disclosure rules; and our reader poll on plans that have recently changed broker dealers. READ MORE

By Jennifer McKibben9/24/2013 • 0 Comments

Last week’s top 5 most-read posts on NAPA Net reflected keen interest in Phyllis Borzi’s comments on the state of the fiduciary definition rule, the NAPA DC Fly-in Forum, the DOL’s adoption of the IRS’ revenue ruling recognizing same-gender spouses, 5-year returns for funds crushed in the 2008 recession, and the importance of plan design in boosting retirement readiness. READ MORE

By Jennifer McKibben ��� 9/16/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in the potential impending 401(k) bidding war, postponement of the DOL’s fiduciary definition rule, the DOL’s claim to ownership over higher quality 401(k) plans, an AARP study showing increased demand for investment advice education, and alternatives to unmatched contributions. READ MORE

By Jennifer McKibben9/10/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in a study asserting that the DB-to-DC plan switch has caused increased retirement wealth inequality, the increasing popularity of online advice, the formula for DC investment success, a big score for an advisor who used LinkedIn marketing, and examining client satisfaction. READ MORE

By Jennifer McKibben9/3/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in T Rowe’s decision to make four funds on the 401(k) menu unavailable to many American Airlines participants, examining the potential impact of participant fee equalization, how the ‘ObamaCap’ would be impacted by rising interest rates, an inside look at a DOL audit, and contribution rules for an owner-only 401(k) plan. READ MORE

John Ortman

John Ortman

By John Ortman9/27/2013 • 0 Comments

In last week’s Reader Poll we asked, "Among 401(k) plans with under $5MM in assets, what percentage changed record keepers in the past year?" Here are the results of the voting, expressed in percentages: READ MORE

By John Ortman9/25/2013 • 0 Comments

Likening the challenge of retirement readiness to a marathon, a new infographic from NAPA makes the point that plan advisors “help you go the distance.” The infographic makes four important points in demonstrating the value that a plan advisor brings to the table. READ MORE

By John Ortman9/23/2013 • 0 Comments

The Affordable Care Act (more commonly known as "Obamacare") includes an employee notice requirement with an Oct. 1 deadline, a recent ASPPA ASAP notes. According to Lawrence C. Starr, CPC, QPFC, who authored the alert, most businesses with $500,000 or more in annual dollar volume of sales or receipts are required to provide this notice. READ MORE

By John Ortman9/19/2013 • 0 Comments

In last week’s Question of the Week we asked, "What is the amount of retirement savings that would stay in the DC system over the next 10 years if cash-outs were reduced by 50%?" Here are the results of the voting, expressed in percentages: READ MORE

By John Ortman9/13/2013 • 0 Comments

In light of significant activity in Washington affecting retirement plans, the scope of NAPA’s upcoming quarterly webcast has been expanded to include an update on all regulatory and legislative developments, both recent and anticipated. The webcast, set for Sept. 24 at 2:00 PM ET, is sponsored by The Standard. Along with the Hatch bill, ASPPA/NAPA’s Brian Graff and Judy Miller will update members on the status of tax reform, the DOL’s fiduciary definition rule and the SEC’s uniform fiduciary rule, as well as the implications for IRAs and qualified plans. READ MORE

By John Ortman9/12/2013 • 0 Comments

What are the current prospects for tax reform, especially in light of shifting priorities on Capitol Hill? NAPA Executive Director/CEO Brian Graff tackles that question in this month’s Washington Update video. As is often the case, the answer to the question involves numerous moving parts and what-ifs. READ MORE

By John Ortman9/11/2013 • 0 Comments

The IRS is focusing on top hat plans at nonprofit 501(c) organizations, a recent “compliance check” questionnaire from the agency’s Employee Plans Compliance Unit reveals. Plans include sending letters and questionnaires to nonprofits seeking a range of information, according to Linda Segal Blinn of ING’s Tax-Exempt Markets group. READ MORE

By John Ortman9/11/2013 • 0 Comments

In last week’s Question of the Week we asked, "What percentage of 401(k) plan sponsors are 'very satisfied' with the overall service they receive from their plan advisor?" Here are the results of the voting, expressed in percentages: READ MORE

By John Ortman9/6/2013 • 1 Comments

Of all the retirement “no-brainer” decisions facing participants, taking advantage of an employer match is probably the biggest — a guaranteed 100% or 50% return on investment. But what about participants who have maxed out their employer match, or those in a plan that doesn’t provide one? How do unmatched contributions stack up against other investment alternatives? READ MORE

By John Ortman9/5/2013 • 0 Comments

In last week’s Question of the Week we asked, “How many hours per day does the average plan advisor work in a normal work week?” Here are the responses, expressed as percentages: READ MORE

By John Ortman9/3/2013 • 0 Comments

Last year, a higher percentage of employees worked for employers that offer retirement plans, and a higher percentage of them participated in the plans, according to a new report by EBRI. In 2012, 61% of all workers age 16 or older worked for an employer or union that sponsored a pension or retirement plan, up from 59% in 2009. READ MORE

Andrew Remo

Andrew Remo

By Andrew Remo9/25/2013 • 0 Comments

Congress is set to play a high stakes game of political chicken this week over federal government spending as the end of the 2013 fiscal year rapidly approaches. If a resolution of this issue is not achieved by next Tuesday, Oct. 1, a shutdown of the federal government will occur. READ MORE

By Andrew Remo9/9/2013 • 0 Comments

Congress is poised to return to Washington D.C. this week to debate the weighty issues of war and peace amid a jam-packed legislative calendar and a limited timeframe on which to act on pressing fiscal issues. There are only nine legislative days scheduled for the month of September, the end of which also marks the expiration of the current fiscal year. READ MORE

By Andrew Remo9/6/2013 • 3 Comments

The Economic Policy Institute (EPI), a think tank focused on the economic condition of low- and middle-income workers, recently released a study purporting to show that the switch from DB plans to DC plans has increased retirement wealth inequality. While the study acknowledged that assets in IRAs and qualified DC plans as a whole have grown faster than has income over the past two decades, the authors argue that the rich have benefited disproportionately. READ MORE

NAPA Net Staff

NAPA Net Staff

By NAPA Net Staff9/27/2013 • 0 Comments

Members of NAPA can now submit nominations for the 2014 NAPA Leadership Council. Two voting advisor members and one firm partner representative will rotate off the Leadership Council in 2014. The Nominating Committee is accepting nominations for the two open advisor seats. READ MORE

By NAPA Net Staff9/25/2013 • 0 Comments

In a special report for NAPA Net, Paul R. Samuelson and Warren Cormier note that approaches to retirement readiness in the DC industry have largely been focused on the accumulation phase. Advisors specifically have been striving to optimize alpha (given risk aversion) through good allocation and product selection during accumulation. However, the opportunity for advisors to increase their “alpha” by helping employees squeeze out greater retirement income with the same assets during decumulation is rarely taken. READ MORE