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Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams2/25/2014 • 0 Comments

This week is America Saves Week, an annual event where hundreds of national and local organizations promote good savings behavior and individuals are encouraged to assess their own saving status. READ MORE

By Nevin Adams2/11/2014 • 0 Comments

In recent days AOL announced – and then withdrew – its intention to alter the timing of its 401(k) matching contribution. They were not the first employer to consider doing so, though they attributed the initial decision to additional expenses attributable to the Affordable Care Act (ACA). READ MORE

By Nevin Adams2/3/2014 • 0 Comments

Retirement plan advisors and the plan sponsors they support have worked long and hard to engage participants with the management and oversight of their retirement plan balances, with mixed results. READ MORE

Fred Barstein

Fred Barstein

Fred Barstein

By Fred Barstein2/28/2014 • 0 Comments

Will myRAs give people a false sense of security that they are saving enough for retirement? That potential problem was raised by UCLA Anderson professor and noted behavioral economist Shlomo Benartzi in a recent P&I article. READ MORE

By Fred Barstein2/26/2014 • 0 Comments

According to industry blogger Michael Kitces, low-cost, cloud-based software tools were the buzz at the recent T3 (Technology Tools for Today) conference. Kitces highlighted four programs that are creating the most buzz. READ MORE

By Fred Barstein2/25/2014 • 0 Comments

Following the lead of many other states in what is becoming a national groundswell, Democrats in Wisconsin proposed a bill that would allow workers in private companies without a “pension” plan to invest in the state DB program. Additionally, a feasibility study was requested to review the costs and benefits of the program, which would be made available to the estimated 1.5 million private workers without access to an employer-sponsored retirement plan. READ MORE

By Fred Barstein2/25/2014 • 8 Comments

Reacting to recent news about the practice of companies like AOL and IBM withholding matching contributions until after the end of the year, William F. Galvin, Massachusetts’ secretary of the commonwealth and chief securities regulator, has sent a request to the top 25 401(k) providers about the number of companies that have made the switch, Bloomberg BusinessWeek reports. READ MORE

By Fred Barstein2/25/2014 • 0 Comments

As expected, a plan of adjustment was filed in the Detroit bankruptcy case awaiting approval by Judge Steven Rhodes. The plan, which suggests a 80% haircut for creditors and 50% for pensioners, is expected to be the subject of intense and bitter negotiations, with creditors claiming that the city's pension system is not in as bad shape as emergency manager Kevin Orr has portrayed, and that more cuts to the city's budget should be made. READ MORE

By Fred Barstein2/24/2014 • 0 Comments

Speaking at a PLI-sponsored "SEC Speaks" meeting in Washington Feb. 21, SEC Chair Mary Jo White stated that she will intensify the consideration of the rule and push commissioners to make a decision, according to Investment News. Recently, White said that the rule was a back burner issue at the SEC. READ MORE

By Fred Barstein2/22/2014 • 0 Comments

New research by EBRI indicates that the level of participation in employer-sponsored retirement plans decreased in 2012 for almost all size plans. Even participation in public sector plan decreased in 2012. READ MORE

By Fred Barstein2/20/2014 • 0 Comments

RCS Capital, led by Executive Chairman Nicholas Schorsch, filed a plan with the SEC last week outlining plans to retain the more than 9,000 reps it added through the acquisition of four IBDs over the last year. As Investment News reports, along with vesting stock ownership, RSC will provide business loans that will be forgivable once certain goals are met. READ MORE

By Fred Barstein2/20/2014 • 0 Comments

According to a recent LIMRA study, 27% of U.S. workers age 55-64 do not know how they will use their DC savings in retirement. The primary reasons given for the lack of a plan is procrastination, reliance on Social Security or the fact that they are not close enough to retire to need one. READ MORE

By Fred Barstein2/19/2014 • 0 Comments

The latest edition of the 401k Averages Book estimates that fees for the average small plan (50 participants and $2.5 million) dropped slightly over the last year, from 146 BPs to 144. Larger plans (1,000 participants and $50 million) remained flat at 103 BPs. Micro plans (10 participants and $500,000) were at 190 BPs.

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By Fred Barstein2/19/2014 • 1 Comments

The latest edition of the 401k Averages Book estimates that fees for the average small plan (50 participants and $2.5 million) dropped slightly over the last year, from 146 BPs to 144. Larger plans (1,000 participants and $50 million) remained flat at 103 BPs. Micro plans (10 participants and $500,000) were at 190 BPs. READ MORE

By Fred Barstein2/19/2014 • 0 Comments

According to this year’s annual survey by Deutsche Bank involving 413 global investors, net inflows into hedge funds are expected to triple in 2014, from $63.7 billion last year to an estimated $171 billion. READ MORE

By Fred Barstein2/18/2014 • 0 Comments

Based on last year’s DOL guidance to plan sponsors on evaluating TDFs and their growing popularity as a QDIA, the Defined Contribution Institutional Investment Association has released a comprehensive guide in plain language that advisors can use with clients and prospects. READ MORE

By Fred Barstein2/18/2014 • 0 Comments

In a settlement that still needs to be approved, Rhode Island has agreed to cut back on planned pension reforms for state workers, the Wall Street Journal reports. Favoring veteran employees, the settlement rolls back the retirement age from 67 to 65, increases the frequency of cost of living adjustments (COLAs) and restores the DB plan for workers with 20 or more years of service. READ MORE

By Fred Barstein2/18/2014 • 0 Comments

According to the Texas-based consulting firm Roland/Criss, it’s not surprising that the demand for outsourcing fiduciary duties by plan sponsors is high. The questions are whether the proposed vendor is qualified to take on ERISA 3(16) duties and whether there is a conflict of interest if that vendor provides other services to the plan. READ MORE

By Fred Barstein2/14/2014 • 0 Comments

Speaking at a Feb. 7 ABA meeting in New Orleans, Phyllis Borzi, head of the DOL’s Employee Benefits Security Administration, described her agency’s new “Prohibited Persons Project” pilot program. The program will track "individuals in the service provider community" with a history of misconduct so plan sponsors are aware of their history, Bloomberg BNA reported. READ MORE

By Fred Barstein2/14/2014 • 0 Comments

What drives retirement readiness? According to research by EBRI using their proprietary Retirement Security Projection Model (RSPM), age, income and health-related expenses are the most important factors. Based on these assumptions, EBRI estimated that retirement security for Baby Boomers and Gen Xers improved last year. READ MORE

By Fred Barstein2/13/2014 • 0 Comments

What makes for good advice for participants in retirement plans? Robert Powell of the Wall Street Journal’s MarketWatch tackles that question with some good, practical advice of his own. With many DC plans offering advice online, by phone or face to face, people are starting to ask this question: How can I determine whether that advice is worth the cost?

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By Fred Barstein2/13/2014 • 0 Comments

Though the accepted wisdom is that auto-enrollment is a good thing, the pace of plans adopting the feature appears to be slowing down. Plans that have not adopted auto-enrollment seem to be exhibiting “stubborn resistance” for a variety of reasons, with smaller plans less likely to use auto-enrollment. READ MORE

By Fred Barstein2/13/2014 • 0 Comments

What makes for good advice for participants in retirement plans? Robert Powell of the Wall Street Journal’s MarketWatch tackles that question with some good, practical advice of his own. With many DC plans offering advice online, by phone or face to face, people are starting to ask this question: How can I determine whether that advice is worth the cost? READ MORE

By Fred Barstein2/12/2014 • 1 Comments

Target date funds continue to gain momentum in DC plans, according to a study by P&I of 200 of the largest plans. Covering the year ending Sept. 30, 2013, the survey showed a 26.6% increase in TDF assets — down slightly from the 29% increase in the previous year. READ MORE

By Fred Barstein2/12/2014 • 0 Comments

What will the asset management business look like in 2020? According to two years of research by PWC, there will be increased opportunities and challenges for an industry that is expected to manage $102 trillion of investible assets in 2020. Overall, asset managers with big brands (and big budgets) that are global and can develop talent will be the big winners, along with some smaller shops that can deliver alpha. READ MORE

By Fred Barstein2/12/2014 • 0 Comments

The state of Florida is seeking a new lifetime income provider for its $8.2 billion 401(a) plan. With $171.1 billion in the system, 76,000 401(a) participants having taken $6.7 billion in distributions since 2012, and the very likely possibility that new participants will be pushed in the DC-like system, it should be interesting to watch what happens in the Sunshine State. READ MORE

By Fred Barstein2/10/2014 • 0 Comments

DC plans and IRAs continued to grow at double digit rates in the first three quarters of 2013, according to the ICI. At the end of Q3 2013, IRAs accounts had $6.2 trillion, growing 10.7% since the end of 2012 and 24% since 2011. DC plans grew 12% since the end of 2012 and 24.4% since 2011, fueled by the growth of 401(k) plans, up 14.3% since the end of 2012 and 29% since 2011. DC plans and IRAs now represent almost 54% of all retirement assets — a figure that now stands at $21.9 trillion. READ MORE

By Fred Barstein2/10/2014 • 5 Comments

BlackRock’s Chip Castille argues that in light of the new realities of people working longer and retiring later, we should consider raising the required mandatory distribution (RMD) age from 70-1/2 to 75-1/2. READ MORE

By Fred Barstein2/6/2014 • 5 Comments

The long-awaited Schwab ETF 401(k) platform was released this week following a delay as the firm dealt with intraday trading and fractional shares issues. READ MORE

By Fred Barstein2/6/2014 • 0 Comments

The independent broker dealer market is hot; the insurance-owned IBD market is not. Following a trend, Midland National Life Insurance Company sold their controlling interest in Sammons Securities to the firm’s vice chair and minority owner Jerome Rydell, according to an Investment News report. READ MORE

By Fred Barstein2/5/2014 • 0 Comments

One of the worst kept secrets in the advisor world is that the best source of competitive intel is local wholesalers, especially when it comes to recruiting. According to an Investment News report, it only makes sense that groups looking to recruit new advisors would tap relationships with wholesalers who, like bees buzzing from one flower to another, know what’s going on. READ MORE

By Fred Barstein2/4/2014 • 0 Comments

The ICI’s sixth annual survey tracking sentiments and actions by consumers shows that people have a very favorable impression of the current retirement system, especially 401(k) and other DC plans. About two-thirds of people surveyed had very favorable impressions, as did 80% of those in DC plans. READ MORE

By Fred Barstein2/3/2014 • 0 Comments

Inflows into index mutual funds in 2013 were double the amount of their previous best year, reaching $115 billion. According to the ICI, inflows surpassed the previous high of $61.1 billion set in 2007. Meanwhile, flows into active strategies were a mere $38.3 billion. READ MORE

By Fred Barstein2/3/2014 • 0 Comments

And the beat goes on. At 16.93% for the year ending Sept. 30, 2013, DC growth was more than double that of DB plans at 8.11%, according to P&I’s annual study of the 1,000 largest retirement plans. Overall there was a 10.8% rise in all retirement plans, with DC accounting for 32.1%. READ MORE

Kathleen Beichert

Kathleen Beichert

Kathleen Beichert

By Kathleen Beichert2/4/2014 • 0 Comments

Are clients concerned about the recent volatility in the emerging markets? Here’s a take from my colleague Justin Leverenz, Director of Emerging Market Equities. READ MORE

Jerry Bramlett

Jerry Bramlett

Jerry Bramlett

By Jerry Bramlett2/20/2014 • 2 Comments

Due to the policy of central banks to keep interest rates below inflation, the level of interest savers receive on their deposits cannot keep up with the rising cost of living. In effect, this erosion of buying power is a socialization of the debt, the cost of which is mainly borne by savers. READ MORE

By Jerry Bramlett2/13/2014 • 0 Comments

The word “great” is often used to describe a big shift in the markets: the Great Deflation (1870-1898), the Great Depression (1929-1942), the Great Recession (2007-2009). Now a new term has emerged: the “Great Rotation.” READ MORE

By Jerry Bramlett2/5/2014 • 2 Comments

In an interesting article about fiduciary risks, Fiduciary News’ Chris Carosa promotes the idea that an excessive weighting of bonds in 401(k) plans could increase fiduciary liability. READ MORE

Mike  Bushnell

Mike Bushnell

Mike Bushnell

By Mike Bushnell2/25/2014 • 0 Comments

There are few events in American life more awe-inspiring than walking into the Capitol Hill office of your congressman or senator, pulling up a chair, and talking about what you do with the member who represents you in the world’s most powerful legislative body. READ MORE

John Carl

John Carl

By John Carl2/25/2014 • 0 Comments

Responding to a financial advisor in Ohio, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question about terminating 401(k) plans. READ MORE

By John Carl2/19/2014 • 0 Comments

Responding to a question from a financial advisor in Michigan, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question related to de-risking of pension plans. READ MORE

By John Carl2/12/2014 • 0 Comments

Responding to a question from a financial advisor in Ohio, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question related to plan amendments. READ MORE

By John Carl2/4/2014 • 0 Comments

Responding to a question from an advisor in Washington, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question regarding correcting missed 401(k) plan employee salary deferrals. READ MORE

Warren Cormier

Warren Cormier

Warren Cormier

By Warren Cormier2/22/2014 • 0 Comments

In a recent article in Forbes, Dr. Jeffrey Brown addresses an important point about the focus of 401(k) plans being ultimately on spending capacity throughout retirement. READ MORE

Sheri Fitts

Sheri Fitts

Sheri Fitts

By Sheri Fitts2/10/2014 • 0 Comments

The 2014 Super Bowl may not have played out as expected, but the much-hyped commercial onslaught was true to form this year as viewers were blitzed with cute kids and dogs, celebrity appearances, patriotism, rock stars and explosive promos for upcoming action flicks and TV shows. READ MORE

Ray Harmon

Ray Harmon

Ray Harmon

By Ray Harmon2/25/2014 • 0 Comments

At long last, we have the final publication of Yale Law School professor Ian Ayres' research paper. Not surprisingly, it is still ill-informed — and uses now-five-year-old, incomplete plan data. And despite our attempts to edify him about his flawed methodology, the professor still comes to the same wrong conclusions about fees. READ MORE

Craig Hoffman

Craig Hoffman

Craig Hoffman

By Craig Hoffman2/1/2014 • 0 Comments

On a semi-annual basis, the Department of Labor publishes a work plan for the guidance they intend to issue in the coming months. The plan is just that, a “plan.” There are no guarantees that the timetables and even the regulatory initiatives might not change during the year. Nevertheless, these pronouncements provide real insight into the DOL’s priorities. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel2/28/2014 • 0 Comments

Investors — and those who manage their funds — are no strangers to risk. But acceptance of risk does not equate to helplessness, nor to inevitable loss. “Using Tactical Asset Allocation to Manage Participant Risk,” a recent webinar by F-Squared Investments moderated by NAPA Net Editor-in-Chief Fred Barstein, offered ideas on how to meet risk head on and mitigate it, if not head it off. READ MORE

By John Iekel2/22/2014 • 0 Comments

Figures don’t lie. Or do they? At the very least, how they are derived — and what they measure — is as important as the data they provide. That was the message at the American Enterprise Institute’s (AEI) Feb. 21 program, “The Retirement Crisis: A Statistical Mirage?” READ MORE

By John Iekel2/20/2014 • 1 Comments

What constitutes an “ideal plan”? That’s what The Plan Sponsor University (TPSU) asked plan sponsors. NAPA Net Editor-in-Chief Fred Barstein, who also founded TPSU and serves as its CEO, recently told Neuberger Berman what they had to say. READ MORE

By John Iekel2/19/2014 • 0 Comments

Variable annuities are part of many Americans’ efforts to save for retirement. But they can be complicated, so the SEC’s Office of Investor Education and Advocacy has provided some information on the basics of variable annuities in its Investor Bulletin, “Variable Annuities — an Introduction.” READ MORE

By John Iekel2/19/2014 • 0 Comments

If they have not already, small businesses with retirement plans must report on them to the IRS soon. To help, the IRS has updated its Publication 560, “Retirement Plans for Small Business Plans” for 2013 returns. New this year:

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By John Iekel2/19/2014 • 0 Comments

If they have not already, small businesses with retirement plans must report on them to the IRS soon. To help, the IRS has updated its Publication 560, “Retirement Plans for Small Business Plans” for 2013 returns. New this year: READ MORE

By John Iekel2/14/2014 • 1 Comments

In remarks at a recent conference on income inequality, Sen. Ron Wyden (D-OR), the incoming Chairman of the Senate Finance Committee, may have tipped his hand on how he will treat employer-provided retirement plans, advocating the simplification and consolidation of “the array” of current retirement savings accounts. Wyden also said he would like to move toward a system of automatic savings for workers. READ MORE

By John Iekel2/11/2014 • 5 Comments

Participants in AOL’s 401(k) plan learned last week that their employer match would be delivered in a lump sum in the following year instead of per pay period. But the idea was consumed in the firestorm it ignited, and AOL Chairman and CEO Tim Armstrong quickly recanted. READ MORE

By John Iekel2/11/2014 • 2 Comments

The words have barely faded from the teleprompter, but retirement experts have wasted no time in expressing caution regarding the "myRA" retirement accounts President Obama unveiled in his State of the Union Address. Chris Carosa of Fiduciary News provides a comprehensive list of 10 reasons to be cautious about myRAs. READ MORE

By John Iekel2/7/2014 • 0 Comments

Recent guidance from the IRS and a pointed reminder from FINRA illustrate the increased frequency and importance of rollovers, not to mention the fact that they are piquing the interest of federal regulators and industry groups. READ MORE

By John Iekel2/7/2014 • 3 Comments

The “USA Retirement Funds” legislation introduced Jan 30 by Sen. Tom Harkin (D-Iowa) includes a provision that would aid legislatively the Department of Labor’s regulatory effort to redefine the term “fiduciary.” The bill would express the “sense of Congress” that advising a plan participant to take a permissible plan distribution and then make a recommendation regarding how to invest it would constitute providing investment advice under ERISA. READ MORE

By John Iekel2/5/2014 • 0 Comments

Municipal bankruptcies like Detroit’s bring into sharp relief the effect such financial strains can have on pensions, as well as the effect of what local and state governments do. But there is good news — most states have taken steps to protect public-sector pensions. READ MORE

By John Iekel2/4/2014 • 0 Comments

Recent research shows strong employee interest in contributing part of one’s salary to achieve a comfortable retirement. Employers have a variety of features they can incorporate in the plans they offer, and they can use them to increase not only assets, but employee participation and involvement too. READ MORE

By John Iekel2/3/2014 • 1 Comments

In a Jan. 28 ruling, the Tax Court reminds us that holders of multiple IRAs are limited to one tax-free rollover in a single year. Moreover, holders of multiple IRAs take their chances if they follow an example in IRS Publication 590 that suggests that under certain circumstances, taxpayers with multiple IRAs can make more than one tax-free rollover in the same year. READ MORE

Jennifer McKibben

Jennifer McKibben

By Jennifer McKibben2/28/2014 • 0 Comments

American Century Investments recently launched a collective investment trust (CIT) that incorporates its popular One Choice Target Date Portfolios. The firm also announced that Kansas City-based Lockton Companies will be the first client to use the CITs as the qualified default investment alternative (QDIA) for its DC plan, a $257 million mandate. READ MORE

By Jennifer McKibben2/27/2014 • 0 Comments

Nationwide continues to see growing interest for third-party fiduciary services. READ MORE

By Jennifer McKibben2/25/2014 • 0 Comments

Mutual of Omaha Retirement Services recently made changes to its distribution, revamping territories and naming four new regional sales managers who consult with advisors to meet the 401(k) retirement needs of employers and their employees. READ MORE

By Jennifer McKibben2/24/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in the findings from the latest 401(k) Averages Book, RCS Capital’s aggressive retention plan, the Maryland legislature’s consideration of an auto-IRA program, IRS reporting for small plans and the newly released DCIIA guide to evaluating TDFs. READ MORE

By Jennifer McKibben2/24/2014 • 0 Comments

Lincoln Financial Group recently announced the addition of three regional sales directors to its intermediary retirement plan sales force: Michele Wyatt, Mathew Abraham and Thomas O'Connell. READ MORE

By Jennifer McKibben2/20/2014 • 0 Comments

Aspire Financial Services announced that it has partnered with LPL’s Worksite Financial Solutions Platform. Aspire and LPL's partnership enables its plan sponsor clients to offer the Worksite Financial Solutions platform's Employee Advice Solution, which allows plan participants to receive customized retirement advice through an online service that first gathers information on each participant's financial picture and life stage. READ MORE

By Jennifer McKibben2/19/2014 • 0 Comments

Fidelity has reported a 13% increase in operating income last year as the rally in equities boosted assets. READ MORE

By Jennifer McKibben2/18/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in the EBSA’s ‘Prohibited Persons Project,’ experts’ cautions against myRAs, AOL’s switch to an annual 401(k) match — and back again, the slowing of auto-enrollment adoption and how to judge whether 401(k) advice is good. READ MORE

By Jennifer McKibben2/18/2014 • 0 Comments

OneAmerica was recently recognized by the Allianz Global Investors’ Center for Behavioral Finance for providing record keeping services that support the research-based principles presented in the best-selling book, Save More Tomorrow: Practical Behavioral Finance Solutions to Improve 401(k) Plans, by behavioral economist Prof. Shlomo Benartzi of UCLA. READ MORE

By Jennifer McKibben2/13/2014 • 0 Comments

BlackRock has launched five new mutual funds that seek to provide long-term investment results corresponding to the total return of the applicable BlackRock CoRI Retirement Indexes. READ MORE

By Jennifer McKibben2/12/2014 • 0 Comments

Fidelity Investments has launched an innovative new tool that allows modeling of specific bond-exposure choices as clients ask about rising rates and how they affect fixed-income portfolios. READ MORE

By Jennifer McKibben2/11/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in Schwab’s new low-cost ETF platform, a fiduciary redefinition provision in Sen. Tom Harkin’s pension reform bill, correction exceptions for missed 401(k) deferrals, why multiple rollovers can lead to higher taxes and the spies of the DC market. READ MORE

By Jennifer McKibben2/11/2014 • 0 Comments

John Hancock Investments is reducing sales charges for Class A shares on 16 fixed-income funds, including the elimination of the front-end sales charges on the John Hancock Floating Rate Income Fund (Class A: JFIAX) and the John Hancock Short Duration Credit Opportunities Fund (Class A: JMBAX) for investments of $250,000 or more. READ MORE

By Jennifer McKibben2/10/2014 • 0 Comments

CUNA Mutual Group announced yesterday the rebranding and newly targeted focus for its affiliate, CPI Qualified Plan Consultants, Inc. (CPI), which it acquired in 2009. CPI is now known as CUNA Mutual Retirement Solutions. READ MORE

By Jennifer McKibben2/7/2014 • 0 Comments

Principal Financial has launched the Principal Income Protector, a new tool that helps financial professionals develop a customized retirement income plan for their clients. READ MORE

By Jennifer McKibben2/5/2014 • 0 Comments

Invesco recently reported assets under management of $778.7 billion as of Dec. 31, up 4.5% from the end of the previous quarter and up 16.7% from a year earlier. READ MORE

By Jennifer McKibben2/4/2014 • 0 Comments

Franklin Resources has reported assets under management of $879.1 billion as of Dec. 31, up 4% from the end of the previous quarter and up 12% from a year earlier. READ MORE

By Jennifer McKibben2/3/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in President Obama’s attack on retirement tax incentives, Sen. Tom Harkin’s retirement reform legislation, the findings of Callan’s recently released 2014 DC Trends Study, how to ‘true up’ matching contributions and the expectation of increased industry consolidation in 2014. READ MORE

By Jennifer McKibben2/3/2014 • 0 Comments

Stadion Money Management, a money management firm known for its tactical investment solutions, recently announced the addition of a 401(k) managed account solution to Nationwide’s RIA Managed Accounts Services Platform. READ MORE

By Jennifer McKibben2/1/2014 • 0 Comments

The Guardian Insurance & Annuity Company (GIAC) has announced the addition of Federated Investors’ Capital Preservation Fund to The Guardian Choice and The Guardian Advantage fund lineups. READ MORE

John Ortman

John Ortman

By John Ortman2/27/2014 • 0 Comments

A 2013 EBRI analysis found that the savings targets set by participants in the lowest income quartile who had sought the input of a financial advisor were associated with a lower risk of running short of money in retirement by anywhere from 9 to nearly 13 percentage points (depending on family status and gender), EBRI’s Nevin Adams writes in his column in the most recent issue of NAPA Net the Magazine. READ MORE

By John Ortman2/27/2014 • 3 Comments

The tax reform proposal unveiled Feb. 26 by Rep. Dave Camp (R-MI), Chairman of the House Ways and Means Committee, includes numerous provisions attacking the current tax incentives for retirement savings. Two proposed changes would be especially damaging to participants in workplace retirement plans: READ MORE

By John Ortman2/26/2014 • 0 Comments

According to a recent survey by Investment News and The American College, 95% of advisors provide retirement income planning services — yet 94% of those polled believe most advisors and wealth managers need to know more about retirement income planning. READ MORE

By John Ortman2/20/2014 • 0 Comments

Despite their differences, there’s at least one thing that all of the stakeholders in our retirement system agree on: average American workers are not saving enough for retirement. In Washington, however, “When we raise ideas to address income adequacy,” says NAPA/ASPPA executive director Brian Graff, “we are commonly met with this retort: ‘Why should we focus on adequacy when half of working Americans don’t have a retirement plan in the first place?’” READ MORE

By John Ortman2/20/2014 • 0 Comments

With the 2014 NAPA 401(k) Summit just over a month away, anyone who has put off registering for the industry-leading conference in New Orleans has a good reason to act now — to take advantage of the “early bird” registration rate. Through Friday, Feb. 21, the early bird rate is $650 for NAPA or ASPPA members, and $975 for non-members. As of Feb. 22, the registration fee will rise by $100 — to $750 for NAPA or ASPPA members, and $1,075 for non-members. READ MORE

By John Ortman2/19/2014 • 0 Comments

The application window for the 2014 NAPA DC Fly-In Forum is now open. Applications from qualified plan advisors to attend this year’s Fly-In Forum will be accepted until the limit on Forum delegates is reached — so don’t delay.

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By John Ortman2/18/2014 • 0 Comments

Over the last 30 years we have seen unprecedented changes in retirement choices in the 403(b) marketplace. There have also been enhancements to help advisors communicate with clients and prospects. Are these changes helping or hurting you? How can you adapt your practice to utilize these tools and better communicate your message — without losing the personal touch? READ MORE

By John Ortman2/13/2014 • 0 Comments

When it comes to how plan sponsors and participants view participants’ “customer experience,” there are far more differences than similarities, Warren Cormier notes in his column in the most recent issue of NAPA Net the Magazine. READ MORE

By John Ortman2/13/2014 • 0 Comments

It’s been just four months since we compiled NAPA Net’s list of the “Top 25 DC Power Hitters” for the cover story of NAPA Net the Magazine’s premiere issue. In that short period of time, though, four members of Congress have announced plans that will drop them off the list when the current session of Congress ends. READ MORE

By John Ortman2/6/2014 • 0 Comments

The application window for the 2014 NAPA DC Fly-In Forum is now open. Applications from qualified plan advisors to attend this year’s Fly-In Forum will be accepted until the limit on Forum delegates is reached — so don’t delay. READ MORE

By John Ortman2/6/2014 • 0 Comments

Positive, material changes in participant outcomes will only occur if plan sponsors recognize their stewardship responsibilities. And they’re looking for a leader to show them the way, Don Trone notes in his most recent column in NAPA Net the Magazine. Start acting and looking like a leader in the finals presentation, Trone recommends, by having the courage to go in “naked.” READ MORE

Andrew Remo

Andrew Remo

By Andrew Remo2/28/2014 • 0 Comments

Testifying at a Feb. 26 Senate Finance Subcommittee hearing on retirement savings for low-income workers, Judy Miller, the Director of Retirement Policy for ASPPA and NAPA, explained how the current private employer-sponsored retirement plan system is working for tens of millions of American workers, many of whom are on the lower end of the income distribution scale. READ MORE

By Andrew Remo2/27/2014 • 7 Comments

Rep. Dave Camp (R-MI), Chairman of the House Ways and Means Committee, released his long-awaited comprehensive tax reform proposal on Feb. 26. Unfortunately, the proposal attacks the current tax incentives for retirement savings in a variety of ways. READ MORE

By Andrew Remo2/21/2014 • 0 Comments

Following in the footsteps of California, the Maryland legislature is considering legislation that would require nearly all private businesses in the state to provide a workplace retirement savings plan for their employees. READ MORE

By Andrew Remo2/6/2014 • 0 Comments

It was “retirement savings proposal week” on Capitol Hill last week. President Obama — via his State of the Union speech and subsequent executive action — and members of Congress who introduced bills sparked a national debate about how best to encourage individuals to save for retirement. Here’s a roundup of all four proposals that emerged the week of Jan. 27: READ MORE

NAPA Net Staff

NAPA Net Staff

By NAPA Net Staff2/25/2014 • 0 Comments

According to American Express, 6 million people became engaged on Valentine’s Day 2014. And, while a new study suggests that discussing romantic comedies may help newlyweds stay married, the fact is that many of these marriages will end in divorce. READ MORE

By NAPA Net Staff2/18/2014 • 0 Comments

While getting the paper last Sunday, I found a door hanger for the Yellow Pages — specifically, for YP, the Yellow Pages app. This is the first time I didn’t get a hard copy of this weighty fixture of American life. It made me think how far we’ve come in dropping hard-copy information services — the Yellow Pages has gone the way of videotapes and exists now only as an app. READ MORE

Don Trone

Don Trone

By Don Trone2/3/2014 • 0 Comments

In a recent post, I wrote about the gene “rs4950” that elite retirement advisors are likely to have in common and observed that most elite advisors have probably devoted at least 10,000 hours to perfecting their craft. There’s one more item that elite advisors are likely to share in common. READ MORE