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Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams12/23/2013 • 2 Comments

People are often grouped into one of two camps: the optimists, who generally see the glass as half full; and those who are more pessimistic, who are said to view the glass as half empty. READ MORE

By Nevin Adams12/16/2013 • 0 Comments

Ask any benefits manager why their organization offers benefits to their workers — or why they offer a 401(k) — and my experience suggests that the reliably consistent answer is “to attract and retain the best workers.” READ MORE

By Nevin Adams12/10/2013 • 0 Comments

Plan advisors know that IRAs are a vital component of U.S. retirement savings, representing more than 25% of all retirement assets in the nation. However, despite IRAs’ importance in the U.S. retirement system, there is a limited amount of knowledge about the behavior of individuals who own IRAs. READ MORE

By Nevin Adams12/2/2013 • 0 Comments

In recent days, we have commemorated both the 50th anniversary of the assassination of President Kennedy and the 150th anniversary of Lincoln’s Gettysburg Address. Occasions such as these are natural opportunities for us to look back and reflect on the past — to consider what has happened since — and to consider what might have been. READ MORE

Fred Barstein

Fred Barstein

Fred Barstein

By Fred Barstein12/30/2013 • 2 Comments

Most lists of New Year’s resolutions are superficial and dwell on the negative, like losing weight or joining a gym. We found an anonymous list we thought was interesting and unique. READ MORE

By Fred Barstein12/27/2013 • 1 Comments

Even though the voters of San Jose passed a referendum last June to allow the city to cut city workers’ pensions and health benefits, Santa Clara Superior Court Judge Patricia Lucas ruled that the referendum violates California law, finding that California law does not allow San Jose to make workers to pay an additional 16% or switch to a less generous plan. READ MORE

By Fred Barstein12/27/2013 • 0 Comments

Target date funds have become especially popular with workers in their twenties, according to a recent report from the ICI and EBRI. Among younger workers, 52% are investing in TDFs, compared with just 34% of workers in their sixties and 41% overall. READ MORE

By Fred Barstein12/27/2013 • 0 Comments

While the DOL has not yet required plan fiduciaries to get formal training, it seems to be leaning strongly in that direction, according to the law firm of Bryan Cave. It certainly does make sense to question how people without the right training can govern and run a retirement plan under ERISA’s complex requirements — requirements that involve personal liability, including (and perhaps especially) for business owners. READ MORE

By Fred Barstein12/27/2013 • 0 Comments

Many of us view our role in the DC industry as a way of helping people while providing for ourselves and our families. In a profession that sometimes enjoys a less-than-stellar reputation, working with plan participants who may never speak to another advisor can be very rewarding — and a unique way for financial advisors to give back in the course of conducting their everyday work. READ MORE

By Fred Barstein12/23/2013 • 0 Comments

According to Morningstar’s 2013 report for the first 11 months of this year, Vanguard had 98% of all inflows into U.S. equity funds at $41.1 billion. The rest of the field had $1.1 billion. READ MORE

By Fred Barstein12/23/2013 • 0 Comments

Perhaps portending a trend in stock drop cases, Regions Financial agreed to pay $22.5 million to settle a lawsuit by their employees over company stock and bond funds offered by a subsidiary. Employees alleged that company stock, which fell precipitously, was too risky to be offered in the company’s 401(k) plan, as were bond funds offered by a former subsidiary, Morgan Keegan. READ MORE

By Fred Barstein12/20/2013 • 0 Comments

Mercer reviews the 10 issues that plan sponsors should be thinking about for 2014. This year, the big issues centered around outcomes, audits and PR risk. Next year, Mercer predicts that plan sponsors will have to deal with judicial action, regulations, litigation and enforcement actions. READ MORE

By Fred Barstein12/20/2013 • 0 Comments

Though NAPA Net creates original content and features columnists like Nevin Adams, John Carl, Kathleen Biechert, Warren Cormier, Jerry Bramlett and others, we often cite third-party articles from reliable sources that we think are relevant for plan advisors. One source we cite often is RIABiz, so we thought highlighting their top 10 most-read stories of the year would be interesting. READ MORE

By Fred Barstein12/19/2013 • 0 Comments

The DC industry has been waiting to see if Bill Chetney, EVP at LPL’s Retirement Partner Group, would remain at the firm when his deal ended this year as part of the acquisition of NRP three years ago. Many speculated that Chetney — a dyed-in-the-wool entrepreneur recently named by NAPA as one of the top 10 innovators in the DC industry — would move on to to his next venture. Instead, LPL has named him as the President of Retirement, a newly created position. READ MORE

By Fred Barstein12/19/2013 • 0 Comments

No matter how you calculate it, retirement plan assets represent a significant percentage of Americans' wealth — growing 3.9% in the third quarter and reaching $21.7 trillion, according to the ICI. Of all sectors, IRAs grew at the fastest rate, 4.6%, reaching $6 trillion, followed by DC plans at 4.4% and $5.56 trillion; 401(k) plans grew 5%, reaching $4 trillion. READ MORE

By Fred Barstein12/18/2013 • 0 Comments

Based on a study commissioned by Bank of America Merrill Lynch involving 1,000 companies of all sizes, it seems that U.S. companies are taking a greater role in helping their employees prepare for retirement. As benefits become more of a worksite solution than a paternalistic benefit, HR professionals are stepping up to help their employees make the right decisions. READ MORE

By Fred Barstein12/17/2013 • 0 Comments

Citing examples from Australia, Canada, Chile, Singapore, Switzerland and the UK, a recent report from Congress’ General Accountability Office recommends that federal agencies do more to provide employees with options other than lump sum payments, including annuities and other spend-down alternatives. The GAO report also encourages regulators to adopt measures to translate account balances into streams of income and to offer retirement calculators. READ MORE

By Fred Barstein12/17/2013 • 0 Comments

The U.S. Supreme Court declined to hear an appeal of a 7th U.S. Circuit Court of Appeals decision to allow class action status by Lockheed 401(k) participants. The plaintiffs, who were represented by Jerome Schlichter, were able to win class action status by splitting the classes into those who invested in the same funds, overcoming the 7th Circuit’s Spano decision. READ MORE

By Fred Barstein12/17/2013 • 0 Comments

Bankruptcy court judge Steven Rhodes will allow pension funds opposing the Detroit bankruptcy to appeal directly to the U.S. Court of Appeals, bypassing the U.S. District Court. The pension funds claimed that the expedited bankruptcy proceedings necessitated the expedited appeals process following a ruling in the San Bernardino bankruptcy case in California. READ MORE

By Fred Barstein12/16/2013 • 0 Comments

As expected, the U.S. Supreme Court has accepted the Fifth Third Bancorp case involving a stock drop claim. In a September 2012 ruling, the 6th U.S. Circuit Court of Appeals revived a class action suit addressing the question of whether a plan fiduciary should enjoy a “presumption of prudence” in stock drop cases. READ MORE

By Fred Barstein12/13/2013 • 0 Comments

According to compensation studies by InvestmentNews and Moss Adams, many RIA firms are experiencing dramatic growth, essentially doubling every five years. Ten years ago, the typical RIA had $350,000 in revenue with three employees; today, that metric has grown to $3.5 million with seven to 13 employees and three or four principals. READ MORE

By Fred Barstein12/13/2013 • 0 Comments

The voting for NAPA’s list of top DC wholesalers will end next Friday, Dec. 20! Please take the opportunity to support your local wholesaler by voting here — or you can simply email us (jmckibben@napa-net.org) the names of your favorite wholesalers and we’ll register your votes for you. READ MORE

By Fred Barstein12/13/2013 • 0 Comments

Just as some high-profile public pensions struggle to meet their obligations, more and more private DB plans are expected to offload some of their risk to insurance providers and money managers. READ MORE

By Fred Barstein12/12/2013 • 0 Comments

With funding from Lightyear Capital, a deal was announced this week for employees of RidgeWorth Capital Management to buy RidgeWorth from parent SunTrust for a reported $265 million. READ MORE

By Fred Barstein12/12/2013 • 0 Comments

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 annuity plan, called “Pillar 1,” does not offer tax benefits and has attracted only $87 billion from 20 million employees at fewer than 60,000 companies. READ MORE

By Fred Barstein12/11/2013 • 0 Comments

As part of the budget deal announced Dec. 10, civilian federal workers will pay more to fund their pensions and the pensions of military personnel will increase at a lower rate. READ MORE

By Fred Barstein12/10/2013 • 0 Comments

Seven investment and consumer groups urged Congress to pass a measure introduced by Rep. Maxine Waters (D-CA) to increase advisor user fees to fund more examinations by the SEC. The groups include AARP, the CFP Board, Consumer Federation of America, FPA, Investment Adviser Association, NAPFA and the North American Securities Administrators Association. READ MORE

By Fred Barstein12/10/2013 • 0 Comments

Saving for retirement is easy compared with figuring out how much you will need when you retire, which is why TDFs have become so popular. Though using a single investment strategy for people born within the same 5-year window may seem crude, the reality is that how much you differ and the fees that are paid are more important than the nuances of the glide path. But trying to figure out how much you need takes much more analysis. READ MORE

By Fred Barstein12/10/2013 • 0 Comments

Running a DC plan is complicated. Most plan advisors and sponsors rely on their TPAs and record keepers to help them stay up to date and in compliance. But regardless of the quality of their third party vendors, advisors need to know what’s required to keep the plan out of trouble and running smoothly. If things go wrong, playing the blame game is not a good long-term strategy. READ MORE

By Fred Barstein12/9/2013 • 0 Comments

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 workers, it’s important to understand that the results of unfunded pensions may harm investors. READ MORE

By Fred Barstein12/9/2013 • 0 Comments

According to an article in InvestmentNews, Morgan Stanley has joined fellow wire houses UBS and Merrill Lynch in revising compensation to spur lower performing, experienced advisors to increase production while rewarding those who hit performance targets. Advisors with commissions and fees less than $2.5 million will need to increase production by 10% to maintain their payouts. READ MORE

By Fred Barstein12/6/2013 • 0 Comments

The UK is set to announce that the age at which people can receive benefits from their government plan will rise to 68 in the 2030s, which is a decade earlier than previously planned. The move will save the UK an estimated $657 billion; even more will come from other announced modifications. READ MORE

By Fred Barstein12/5/2013 • 1 Comments

As Vanguard closes in on top TDF provider Fidelity, the Boston fund company is taking steps to bolster its shrinking advantage, lowering fees on their Freedom Index Funds. Fidelity’s new pricing will be 16 BPs, undercutting Vanguard’s TDF fees, which currently average 18 BPs. READ MORE

By Fred Barstein12/5/2013 • 0 Comments

For most plan advisors, their provider is really their local wholesaler. Though they may travel to due diligence meetings and visit with home office people, more than 90% of their interactions are with their local wholesaler. But these essential components of the DC ecosystem have been mostly unrecognized except by peers and their local plan advisor clients. Until now, that is. READ MORE

By Fred Barstein12/5/2013 • 1 Comments

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 city pensions, which will require an additional $590 million in funding in 2015 if no deal is reached. READ MORE

By Fred Barstein12/4/2013 • 0 Comments

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 debt. READ MORE

By Fred Barstein12/4/2013 • 0 Comments

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, fiduciary training is becoming a best practice, and there is growing evidence that more DOL field people are asking about it. READ MORE

By Fred Barstein12/3/2013 • 0 Comments

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 released 2014 rulemaking schedule, the SEC put its uniform fiduciary rule effort on the back burner, classifying it as a “long term” action among the 43 items it is considering in 2014. READ MORE

By Fred Barstein12/3/2013 • 0 Comments

Last week, the 7th U.S. Circuit Court of Appeals rejected Boeing’s request to appeal a lower court’s order granting class certification to Boeing’s participants in the Spano v. Boeing case. Boeing has 170,000 participants in their 401(k) plan. READ MORE

By Fred Barstein12/3/2013 • 2 Comments

Our list of DC broker dealers, last updated in December 2013, is provided below. READ MORE

By Fred Barstein12/3/2013 • 0 Comments

Our list of DC Investment Only (DCIO) providers, last updated in December 2013, follows. READ MORE

By Fred Barstein12/3/2013 • 0 Comments

Transamerica Retirement Solutions has announced the results of a year-long analysis on the effectiveness of custom, target-date investment structures for participants in employer-sponsored retirement plans. READ MORE

By Fred Barstein12/2/2013 • 3 Comments

Do participant disclosures in DC plans favor advisors paid through 12b-1 fees? That’s the opinion of industry experts like Lou Harvey, Fred Reish and Jason Roberts in an article from RIABiz. READ MORE

By Fred Barstein12/2/2013 • 0 Comments

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 billion over 30 years. According to an article in the New York Times, the proposal includes cost of living cuts for retirees, caps on payments to highly paid workers, and raising the retirement age for some workers while putting them into DC plans. READ MORE

Jerry Bramlett

Jerry Bramlett

Jerry Bramlett

By Jerry Bramlett12/24/2013 • 2 Comments

The distribution of possible events looks like a bell curve, with many everyday events in the middle and far fewer events in the tails. While these tail events occur infrequently, they can have a great impact on the overall financial system — both negative or positive. READ MORE

By Jerry Bramlett12/18/2013 • 1 Comments

In spite of the attraction of pursuing tactical asset allocation (in lieu of a strategic approach to portfolio construction and maintenance), plan advisors should weigh the risks before adopting this type of investment strategy. READ MORE

By Jerry Bramlett12/12/2013 • 1 Comments

A recent Wall Street Journal article addressed revenue sharing, dealing mostly with the important issue of the “uneven” impact that revenue sharing can have on DC investors’ fund expenses. There is, however, another side that needs to be explored as well. READ MORE

By Jerry Bramlett12/4/2013 • 1 Comments

Where is it written in stone that because an index is price-weighted and based on a commercial index (e.g., the S&P 500), one is “smart” and the other is, well, “dumb”? Are smart beta investment managers simply using different criteria (i.e., rules) for creating an index? READ MORE

John Carl

John Carl

By John Carl12/17/2013 • 0 Comments

Responding to a question from an advisor in Pennsylvania, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common inquiry involving plan-related year-end deadlines. READ MORE

By John Carl12/10/2013 • 1 Comments

Responding to a question from a financial advisor in Washington, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common inquiry involving notices received by plan participants. READ MORE

By John Carl12/4/2013 • 0 Comments

Responding to a question from an advisor in Michigan, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common inquiry involving real estate in IRAs. READ MORE

Warren Cormier

Warren Cormier

Warren Cormier

By Warren Cormier12/23/2013 • 3 Comments

I recently had the opportunity to speak with Ted Benna, the co-creator of the 401(k), to get his perspective on the future of DC plans and how participants can maximize their retirement readiness. READ MORE

By Warren Cormier12/6/2013 • 2 Comments

In its 2013 annual report on advisors’ satisfaction and loyalty with record keepers, DCP and Boston Research Group identified specific behaviors by the wholesaler that are the most effective in keeping the advisor happy and coming back. Here are the top three. READ MORE

Brian Graff, Esq.

Brian Graff, Esq.

Brian is the Executive Director of NAPA. In this capacity he oversees NAPA’s operations. As a member of the Leadership Council, he charts the strategic direction for the organization. Brian also serves as ASPPA’s Executive Director/CEO — a post he has held since 1996.

He has been named one of 401kWire’s “50 Most Influential Persons in the 401(k) Industry” every year since 2007.

An attorney and certified public accountant, Brian was formerly Legislation Counsel to the U.S. Congress Joint Committee on Taxation. Prior to working on Capitol Hill, he was associated with The Groom Law Group, in Washington, DC, which specializes in employee benefits. He received his doctoral degree in law, cum laude, from the University of Pennsylvania Law School in Philadelphia. He holds a bachelor of science in accounting with distinction from Cornell University in Ithaca, N.Y.

By Brian Graff, Esq.12/2/2013 • 3 Comments

It’s now less than a year until the next mid-term congressional elections, and the protracted talk about the critical need to reform our nation's tax laws has yet to result in an actual piece of legislation. So is it time to send the issue of tax reform into hibernation — until 2015 at the very least, after next year's elections? Recent indicators suggest that it very well might be. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel12/20/2013 • 0 Comments

For advisors serving the DC market, knowing what plan sponsors hope to accomplish by making DC plans available to their employees can be the edge that helps them win a case or keep a client. A new report from JP Morgan Asset Management tackles that question. READ MORE

By John Iekel12/20/2013 • 0 Comments

The way public sector DB plans invest their funds underscores the importance of diversification and the value of global investments, a recent study by T. Rowe Price found. The study, “Expanding the Fixed Income Opportunity Set for Public Pension Plans,” says that while some public DB plans pursue a diversified investment strategy, many take a more conservative approach. READ MORE

By John Iekel12/18/2013 • 0 Comments

A week after the IRS issued new rules for in-plan Roth rollovers in IRS Notice 2013-74, commentary on what that guidance means for advisors and their clients is beginning to appear. READ MORE

By John Iekel12/12/2013 • 0 Comments

Conducting in-plan Roth rollovers may be smoother thanks to IRS guidance issued Dec. 11. Under IRS Notice 2013-74, these contributions and earnings on them can be rolled over into a designated Roth account in the same plan: READ MORE

Jennifer McKibben

Jennifer McKibben

By Jennifer McKibben12/30/2013 • 0 Comments

With the help of Wilmington Trust, Fielding Miller and his team at CapTrust are launching their own collective funds. CapTrust bought Freedom One Financial Group last year and is essentially converting the money in their plans from risked-based asset allocation managed accounts to collective trusts (CIT’s). READ MORE

By Jennifer McKibben12/30/2013 • 0 Comments

Last week’s top 5 most-read posts on NAPA Net reflected keen interest in Ted Benna’s perspective on improving DC plans, the San Jose judge’s ruling that city workers’ pensions may not be cut, the mutual fund complex monopolizing 98% of U.S. equity inflows, making the case for formal training for plan fiduciaries, and a look at “disclosure overload.” READ MORE

By Jennifer McKibben12/27/2013 • 0 Comments

Allianz Global Investors recently announced a new initiative, the PlanSuccess Recordkeeper Evaluation Program, that grades DC record keepers on their ability to upgrade plan design based on best practices gleaned from behavioral finance. READ MORE

By Jennifer McKibben12/23/2013 • 0 Comments

The Principal Financial Group has streamlined the process of changing retirement plan providers with dedicated support — a single, secure storage location for documents and eSignature capabilities. It’s one of the first in the industry to make electronic signatures available for transition paperwork. READ MORE

By Jennifer McKibben12/20/2013 • 0 Comments

Fidelity Investments recently released it 2014 global investment outlook for 10 major equity sectors. Several of the investment themes highlighted in the report cut across multiple sectors, including the ongoing recovery in the U.S. housing and non-residential construction markets, the growing middle-class populations and rising wealth in emerging markets, isolated but improved economic indicators in Europe and various macroeconomic trends. READ MORE

By Jennifer McKibben12/19/2013 • 0 Comments

Arthur P. Steinmetz was named CEO at OppenheimerFunds, effective July 1, 2014, confirmed spokeswoman Kaitlyn Downing. He will replace William F. Glavin Jr., who will remain with the firm as chairman. READ MORE

By Jennifer McKibben12/17/2013 • 0 Comments

Transamerica Retirement Solutions has introduced the Market Insights: Healthcare App, a new mobile app designed specifically for retirement plan sponsors of health care organizations and their advisors. READ MORE

By Jennifer McKibben12/16/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in Morningstar’s estimation of the true cost of retirement, the “uneven” impact that revenue sharing can have on DC investors’ fund expenses, the impact of the budget deal on federal workers, how to run a compliant and efficient DC plan, and RidgeWorth’s announcement that its employees will purchase the firm from SunTrust. READ MORE

By Jennifer McKibben12/16/2013 • 0 Comments

Charles Schwab has announced a program that would allow some of its advisory clients to request a refund of the prior quarter's program fees “if, for any reason, they are not happy.” READ MORE

By Jennifer McKibben12/13/2013 • 0 Comments

Some estimates show TDFs comprising almost 50% of all DC assets by the end of the decade. Given those projections, the industry needs to examine the latest target date trends — including the use of custom funds, active versus passive, the use of alternatives, and “to” versus “through” — and answer some fundamental questions. Join Jerome A. Clark and Wyatt A. Lee from T. Rowe Price for a free webcast that will incorporate insights from behaviors of 2 million participants and 60-70 gatherings with advisors, consultants and plan sponsors. READ MORE

By Jennifer McKibben12/12/2013 • 0 Comments

MFS has announced the launch of two low-volatility mutual funds, MFS Low Volatility Equity Fund (MLVAX) and MFS Low Volatility Global Equity Fund (MVGAX). READ MORE

By Jennifer McKibben12/10/2013 • 0 Comments

Fidelity has launched the Fidelity Investments Retirement Preparedness Measure (RPM), based on data from Fidelity's 2013 Retirement Savings Assessment survey. It is a measure of whether working Americans are on track to cover their estimated total post-retirement expenses. READ MORE

By Jennifer McKibben12/9/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in the Detroit bankruptcy judge’s ruling, survey data on wholesalers’ role in advisor satisfaction, participant disclosure rules’ impact on fee-based advisors, Fidelity’s move to undercut Vanguard’s TDFs and topics for your next investment committee meeting agenda. READ MORE

By Jennifer McKibben12/9/2013 • 0 Comments

The new financial software employed by Raymond James’ advisors and powered by PIEtech Inc., has been used to create more than 50,000 financial plans and has been used by more than 70% of the firm’s 5,300 advisors. READ MORE

By Jennifer McKibben12/6/2013 • 0 Comments

Wells Fargo has named Laurie Nordquist head of its Personal and Small Business Insurance (PSBI) division. Effective Dec. 16, Nordquist will lead a team dedicated to providing auto, home, renters, life and health and umbrella insurance products to consumers, as well as property, liability and other insurance solutions to small businesses. READ MORE

By Jennifer McKibben12/5/2013 • 0 Comments

With nearly half of American workers sitting on less than $10,000 in retirement savings, individuals simply aren't financially ready for retirement. Principal Financial has launched Principal® PlanWorks, which uses key design features to help put participants on a path to a more successful retirement that focuses on retirement income versus retirement savings. READ MORE

By Jennifer McKibben12/4/2013 • 0 Comments

OneAmerica announces the launch of American United Life Insurance Company® (AUL)’s Secure Income Stream Annuity, a flexible deferred income annuity designed to provide consumers with a guaranteed lifetime income. The Secure Income Stream Annuity can be a flexible and valuable addition to a personal retirement portfolio. READ MORE

By Jennifer McKibben12/4/2013 • 0 Comments

One of the best investments you can make is in your own professional development. If you’ve earned a financial industry designation, you know it’s an excellent way to broaden your expertise, keep up with the latest developments in your field and increase your credibility as a financial professional. But tracking the associated continuing education (CE) requirements can be a challenge. READ MORE

By Jennifer McKibben12/2/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in NAPA’s new Top DC Wholesaler list, the likelihood the Supreme Court will rule on a stock drop xase, Shlomo Benartzi’s IRA mobile app idea, new recommendations adopted by the SEC Investment Advisory Committee and challenging what we know about target date strategies and passive money management. READ MORE

Rick Meigs

Rick Meigs

By Rick Meigs12/5/2013 • 0 Comments

Much can be improved in our existing retirement system, but as noted in a just-released white paper, our voluntary, employer-sponsored retirement plan scheme provides a critical source of savings for millions of American workers at all ages and income levels. READ MORE

John Ortman

John Ortman

By John Ortman12/30/2013 • 0 Comments

FINRA issued a regulatory notice Dec. 30 “reminding firms of their responsibilities” when recommending a rollover or transfer of assets from an employer-sponsored plan into an IRA. Regulatory Notice 13-45 also addresses marketing IRAs. READ MORE

By John Ortman12/30/2013 • 0 Comments

Following a year in which sales were flat, 2014 could be a big year for variable and indexed annuities in terms of sales and product development, according to an InvestmentNews report. “The tail winds are with variable annuities because of the shift in [capital gains] tax rates,” says one analyst. READ MORE

By John Ortman12/30/2013 • 0 Comments

Efforts by states and municipalities to address the crisis in public pension plans was judged the biggest story of the year by our friends at Pensions&Investments, edging out “dysfunction in Washington” and Detroit’s ongoing bankruptcy saga. Rounding out PI’s top 10 stories of the year: READ MORE

By John Ortman12/30/2013 • 0 Comments

Drawing on his team’s experience over the last year, Tom Daley, founder and chief executive of The Advisor Center, predicts four recruiting trends in 2014 — including recruiting bonuses and the continued growth of "superensembles." READ MORE

By John Ortman12/30/2013 • 0 Comments

Bouyed by the post-crisis bull market, brand preference among advisors and some tweaks made along the way, things are starting to look up for American Funds, InvestmentNews reported recently. READ MORE

By John Ortman12/30/2013 • 1 Comments

With $18 billion in AUM and robust existing infrastructure including personnel, expertise and technology, Edelman Financial Services’ “Edelman Online” service has a leg up on the competition in the crowded online advice marketplace. Another key factor in their success: access to an advisor. READ MORE

By John Ortman12/30/2013 • 0 Comments

Look for your next issue of the Daily on Friday, Jan. 3. 'Till then, we wish you a Happy New Year! READ MORE

By John Ortman12/30/2013 • 0 Comments

Financial advisors are upbeat as the new year draws near, expecting 2013’s bull market to continue in 2014. A huge proportion see good times ahead, according to a survey of 800 advisors conducted by the SEI Advisor Network. READ MORE

By John Ortman12/30/2013 • 0 Comments

This has proved to be a record-breaking year for pension risk transactions in the U.K., a development that some experts are viewing as the beginning of a trend. READ MORE

By John Ortman12/23/2013 • 0 Comments

As everyone in the retirement industry knows, retirement plan participants are inundated by a deluge of disclosures required by multiple reporting requirements set by a variety of government agencies. Posting recently about a Nov. 21, 2013, Government Accountability Office report on pension reporting and disclosure requirements, two attorneys at Bryan Cave summarized some of the things the GAO found. READ MORE

By John Ortman12/23/2013 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in tips for plan sponsors in planning for 2014, another delay in the DOL’s fiduciary definition rule, HR professionals’ changing role in retirement plan administration, and two determinations by the Supreme Court in choosing cases to hear involving 401(k) plans. READ MORE

By John Ortman12/20/2013 • 0 Comments

Look for your next issue of NAPA Net Daily on Friday, Dec. 27. 'Till then, we wish you all the joy and peace of the season. READ MORE

By John Ortman12/17/2013 • 0 Comments

The voting for NAPA’s list of top DC wholesalers will end this Friday, Dec. 20! Please take the opportunity to support your local wholesaler by voting — or you can simply email us the names of your favorite wholesalers and we’ll register your votes for you. READ MORE

By John Ortman12/11/2013 • 0 Comments

Nearly half of all households that own traditional IRAs report that their IRAs include rollovers from employer plans, according to Investment Company Institute research. Moreover, 85% of those IRA owners rolled over their entire retirement account balance in their most recent rollover. READ MORE

By John Ortman12/10/2013 • 0 Comments

It looks like the issue of tax reform is fading away, notes Brian Graff, NAPA’s Executive Director/CEO, in this month’s Washington Update video. The reason has nothing to do with the retirement industry, Graff notes, but rather potential provisions that would affect corporate America. READ MORE

By John Ortman12/6/2013 • 0 Comments

The U.S. Supreme Court will hear a case that could dictate how inherited IRAs are treated in bankruptcy. The Court's decision could lead to more people leaving their IRAs to a trust, rather than directly to offspring. READ MORE

By John Ortman12/5/2013 • 0 Comments

Many employees make sub-optimal decisions when it comes to savings rates, asset allocations, in-service withdrawals and retirement distribution options. The result: Many of them are not even on the path to retirement readiness, let alone retirement-ready. Though past decisions can’t be reversed, DC plan sponsors can begin to improve this gloomy outlook at relatively low cost — or even no cost — simply by altering their plans’ “choice architecture” — that is, how choices are presented to employees. READ MORE

By John Ortman12/4/2013 • 0 Comments

"Retaining Plan Rollovers" has pulled into a virtual tie with "Building Your Brand Through Thought Leadership" in the voting tool we added to NAPA Net last month to help us choose topics for future NAPA webinars. The two topics are just one point apart. Also, "Managing Stable Value Assets" has moved from 10th place to fifth. READ MORE

Andrew Remo

Andrew Remo

By Andrew Remo12/19/2013 • 0 Comments

The Senate Finance Subcommittee on Social Security, Pensions, and Family Policy, chaired by Sen. Sherrod Brown (D-OH) and Pat Toomey (R-PA), held a wide-ranging hearing Dec. 18 that examined the various sources of income for retirees and whether reforms are needed to the financing and benefit structure of the U.S. retirement system. READ MORE

By Andrew Remo12/19/2013 • 1 Comments

Sen. Max Baucus (D-MT), Chairman of the Senate Finance Committee, was widely reported Dec. 18 as President Obama’s choice to be the next U.S. ambassador to China. Baucus announced earlier this year that he would not run for reelection in 2014. The move means that the tax reform effort will lose one of its most ardent supporters in Congress in a matter of weeks. READ MORE

By Andrew Remo12/13/2013 • 1 Comments

A provision in the budget deal announced Dec. 10 to fund the federal government through the fall of 2015 raises insurance premiums paid to the Pension Benefit Guaranty Corporation (PBGC) by employers that sponsor DB plans. READ MORE

NAPA Net Staff

NAPA Net Staff

By NAPA Net Staff12/6/2013 • 0 Comments

The world we live in today is not the world of our grandparents, or even our parents. We aren’t waiting for the mailman to bring us important letters. We don’t tune in to our local television station at 5:00 PM to get our news. And we don’t “work” the traditional 9-to-5 day anymore. READ MORE