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Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams11/24/2014 • 0 Comments

Thanksgiving has been called a “uniquely American” holiday, and one on which it seems fitting to reflect on all for which we should be thankful. Here’s my 2014 list. READ MORE

By Nevin Adams11/21/2014 • 0 Comments

The Oxford Dictionaries recently declared that “vape” was its Word of the Year. If you’re unfamiliar with “vape,” it means “to inhale and exhale the vapor produced by an electronic cigarette or similar device.”  READ MORE

By Nevin Adams11/20/2014 • 0 Comments

Those who don't have a retirement plan had better figure out a plan B for retirement, because a new study suggests that they're more likely to misjudge their expected retirement date. READ MORE

By Nevin Adams11/20/2014 • 0 Comments

The Government Accountability Office (GAO) published its final report on Individual Retirement Accounts (IRAs), offering some recommendations for Congress and the IRS on so-called “mega” IRAs.

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By Nevin Adams11/19/2014 • 0 Comments

Five members of the Senate Finance Committee are asking Treasury Secretary Jack Lew for some retirement plan relief.

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By Nevin Adams11/17/2014 • 0 Comments

At a recent conference, our luncheon table got to talking about savings trends and the unique challenges of Millennials, specifically the impact of graduating with so much college debt. READ MORE

By Nevin Adams11/11/2014 • 0 Comments

The IRS issued a clarification Nov. 10 on the application of the one-per-year limit on IRA rollovers. In Announcement 2014-32, the IRS said it had received comments about the “administrative challenges presented by the Bobrow interpretation of §408(d)(3)(B).”

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By Nevin Adams11/10/2014 • 0 Comments

Having regained their Senate majority and deepened their hold on the House, the GOP — with a wary eye on the 2016 elections — may be ready to act on a range of issues affecting the retirement industry.

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By Nevin Adams11/10/2014 • 0 Comments

The Nov. 7 issue of The New York Times included a story about “Finding, and Battling, Hidden Costs of 401(k) Plans.” The story focused primarily on the plight of Ronald Tussey, the named plaintiff in the Tussey v. ABB, Inc., “excess fee” revenue sharing cases.

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By Nevin Adams11/4/2014 • 0 Comments

MassMutual and Golden Star, Inc. have asked the court to approve a settlement in their 401(k) revenue-sharing suit. 

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By Nevin Adams11/3/2014 • 0 Comments

A new study from the Employee Benefit Research Institute (EBRI) notes that the probability of a worker participating in an employment-based retirement plan increased significantly along with the size of his or her employer.  READ MORE

Fred Barstein

Fred Barstein

Fred Barstein

By Fred Barstein11/26/2014 • 0 Comments

Cerulli is predicting that TDFs, which seem to dominate DC plans today, will garner as much as 90% of new contributions by 2019. That’s good news for firms with a viable TDF strategy, but potentially devastating news for long-only, active equity managers without a TDF or those still struggling to break the all-important $1 billion barrier.

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By Fred Barstein11/24/2014 • 0 Comments

While on the surface there are few changes in our updated list of DC-oriented BDs and RIAs, it’s just the tip of the iceberg. More dramatic shifts in the market and new regulations are likely to change the landscape in the future. READ MORE

By Fred Barstein11/18/2014 • 0 Comments

A new study by State Street’s Center for Applied Research coins a new term, the “Folklore of Finance,” which tries to explain why most investors don’t achieve their long-term financial goals. READ MORE

By Fred Barstein11/17/2014 • 0 Comments

While very few advisors are recommending entirely passive investment menus to clients, there’s no doubt that indexing is on the rise and gaining momentum. Witness Vanguard’s record this year: $163.4 billion in flows, which in 10 months surpassed the record $141 billion in 2012. READ MORE

By Fred Barstein11/14/2014 • 0 Comments

In the wake of all the turmoil at ARCP, a sister company of RCAP that owns multiple BDs (including Cetera), analysts asked RCAP CEO Mike Weil a touchy question about the future of the firm’s budding retail BD empire.  READ MORE

By Fred Barstein11/11/2014 • 0 Comments

When all is said and done, 2014 promises to go down as one of the more active years for DC provider consolidation and repositioning, with 12 actions taken so far and one big merger pending, according to many industry sources. The 12 actions, seven of which affect record keepers, are reflected in our just-updated DC Provider Consolidation Report. We've also update our DC National Record Keepers list.

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By Fred Barstein11/10/2014 • 0 Comments

Our updated (as of Nov. 2014) list of national record keepers serving the DC market is here.

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By Fred Barstein11/10/2014 • 0 Comments

There's a light at the end of the tunnel for Detroit, its citizens and its pensioners — and it’s not the oncoming train many had expected. Bankruptcy Judge Steven Rhodes approved a plan Nov. 7 that will alleviate $7 billion in debt and invest $1.7 billion in needed services while cutting pension benefits for retired city and municipal workers. When the proceedings began, Detroit had $18 billion in debt, including a significantly underfunded pension and an ongoing deficit.

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By Fred Barstein11/10/2014 • 0 Comments

In an effort to gain more revenue and control over a plan, some advisors have taken to creating their own investments and recommending themselves or charging more as a 3(38) fiduciary. But according to a letter by EBSA’s Phyllis Borzi obtained by The Wall Street Journal, that practice may violate fiduciary rules under ERISA, especially in light of pending regulations on the matter. READ MORE

By Fred Barstein11/3/2014 • 0 Comments

With Schwab’s recent announcement of a no-fee, ETF-based robo-advisor of their own, the race is on among a horde of robo-advisors, some very well-funded, and the “old guard” of online brokerage services.  READ MORE

By Fred Barstein11/3/2014 • 0 Comments

The two biggest independent BDs were scurrying to overcome errors last week. American Realty Capital’s CEO Nicholas Schorch, whose sister company RCAP has gobbled up 12 BDs over the past 18 months had to explain accounting errors amounting to $23 million to its BD partners, while LPL CEO Mark Cassady apologized to shareholders about significant fines due to compliance issues. READ MORE

Jerry Bramlett

Jerry Bramlett

Jerry Bramlett

By Jerry Bramlett11/20/2014 • 0 Comments

Every sweet hath its sour, every good its bad,” Ralph Waldo Emerson wrote in his essay, “Compensation.” So it seems to be the case with the two main asset allocation constructs offered to DC investors: target-date funds and managed accounts. READ MORE

By Jerry Bramlett11/11/2014 • 0 Comments

As evidenced by the increasing use of passive investments in DC plans, investment costs have become increasingly influential in terms of how plan sponsors and their advisors select investment vehicles. READ MORE

By Jerry Bramlett11/6/2014 • 0 Comments

How could so many economists be mistaken about where yields were headed this year? And what does that mean for forecasts calling for rising short-term interest rates in 2015? READ MORE

John Carl

John Carl

By John Carl11/24/2014 • 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 inquiry involving the ERISA fidelity bonding requirement. READ MORE

By John Carl11/17/2014 • 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 the tax treatment of IRA distributions that are given to charitable organizations. READ MORE

By John Carl11/10/2014 • 0 Comments

Responding to a question from an advisor in Wisconsin, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common inquiry related to plan fiduciaries. READ MORE

By John Carl11/3/2014 • 0 Comments

Responding to a question from an advisor in North Carolina, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common inquiry involving rollovers between traditional IRAs. READ MORE

Joshua Dietch

Joshua Dietch

By Joshua Dietch11/16/2014 • 0 Comments

Chatham Partners recently surveyed more than 400 DC advisors and interviewed 64 executives at record keeping, DCIO and broker-dealer and advisory firms to determine if DCIO firms and record keepers are maximizing the return of dollars invested in value-added programs.

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Ray Harmon

Ray Harmon

Ray Harmon

By Ray Harmon11/21/2014 • 0 Comments

When President Obama named Loretta Lynch as his nominee to replace U.S. Attorney General Eric Holder, speculation about Secretary of Labor Tom Perez being tapped for the role was put to rest, while speculation about the impact on the DOL’s agenda was reinvigorated. READ MORE

By Ray Harmon11/21/2014 • 0 Comments

In the wake of the surprise election of Republican Larry Hogan to the Maryland governor’s mansion earlier this month, the task force established by outgoing Gov. Martin O’Malley (D) to study retirement plan access and potentially recommend a state-run automatic enrollment IRA program had its first post-election meeting Nov. 19.  READ MORE

By Ray Harmon11/7/2014 • 0 Comments

The ERISA Advisory Council has now made its final recommendations of 2014, and got an update on regulatory proposals in return. READ MORE

By Ray Harmon11/6/2014 • 0 Comments

The ERISA Advisory Council has now made its final recommendations of 2014, and got an update on regulatory proposals in return. READ MORE

Craig Hoffman

Craig Hoffman

Craig Hoffman

By Craig Hoffman11/18/2014 • 0 Comments

Just when plan administrators were beginning to feel comfortable with their procedures for participant benefit statements, changes are in the offing. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel11/29/2014 • 0 Comments

Illinois and New Jersey — two of the states beset by the most intractable state pension problems — have hit roadblocks in their efforts to address those issues. READ MORE

By John Iekel11/13/2014 • 0 Comments

As industry consolidation continues apace, the universe of 401(k) plan providers is shrinking. But that doesn’t necessarily mean that competition among the providers is correspondingly reduced. READ MORE

By John Iekel11/12/2014 • 0 Comments

Major cities in disparate corners of America provide a fresh — and stark — illustration of how widespread public pension funding shortfalls are. Pittsburgh and Phoenix, cities that could not be much more opposite geographically, are among those grappling with this troublesome matter. Both cities got some bad news on that front in recent days. READ MORE

By John Iekel11/5/2014 • 0 Comments

We hear a lot about how well Americans are saving — or not — for their retirement. Legg Mason Global Asset Management this week unveiled EZ IRA, a payroll deduction IRA program intended to provide a way to build that savings rate. READ MORE

Judy Miller

Judy Miller

By Judy Miller11/17/2014 • 0 Comments

When the 113th Congress wraps up in December, it won’t have much to show for its term. Will the 114th Congress that convenes in January be any different? READ MORE

Andrew Remo

Andrew Remo

By Andrew Remo11/21/2014 • 0 Comments

Yale Law School professor Ian Ayres — yes, that Ian Ayres – made a presentation at a Nov. 19 public hearing held by the Connecticut Retirement Security Board that featured an interesting proposal.
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By Andrew Remo11/5/2014 • 0 Comments

NAPA, ASPPA and NTSA submitted a joint letter Nov. 3 to the Connecticut Retirement Security Board (CRSB) in response to the board’s request for public comment in order to help the CSRB develop and implement a state-run plan for employees of private employers. READ MORE

NAPA Net Staff

NAPA Net Staff

By NAPA Net Staff11/29/2014 • 0 Comments

This is a peak time of year for making deferral elections for nonqualified deferred compensation plans, and there are a number of issues that advisors can help participants consider.

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By NAPA Net Staff11/26/2014 • 0 Comments

Retirement plan participants recently got some additional encouragement to choose lifetime income options — this time from the nation’s private pension plan insurer.

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By NAPA Net Staff11/25/2014 • 0 Comments

NAPA Net will be dark on Thanksgiving Day and on Friday. Look for your next NAPA Net Daily on Monday, Dec. 1. 

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By NAPA Net Staff11/25/2014 • 0 Comments

In a year of positive, but modest change, a new survey suggests that public pension funds are feeling better about their ability to deal with trends and issues, at least in the near future. READ MORE

By NAPA Net Staff11/24/2014 • 0 Comments

What’s a bigger risk to retirement security than longevity, leakage and long-term care costs? READ MORE

By NAPA Net Staff11/24/2014 • 0 Comments

While Americans have been living longer, a new report suggests that that trend could slow in the future — and that could have an impact on pension calculations and retirement projections. READ MORE

By NAPA Net Staff11/24/2014 • 0 Comments

California’s state-sponsored retirement plan has taken another step forward with the issuance of an RFP for a consultant to conduct a market analysis and feasibility study, and to design the program. READ MORE

By NAPA Net Staff11/24/2014 • 0 Comments

Things you might have missed — but shouldn’t. Highlights from last week’s NAPA Net posts included: READ MORE

By NAPA Net Staff11/24/2014 • 0 Comments

Our list of DC broker dealers, last updated in November 2014, is provided below.

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By NAPA Net Staff11/24/2014 • 0 Comments

Fidelity’s fifth annual Plan Sponsor Attitudes survey, released Nov. 20, found for the first time in the history of the survey that “preparing employees for retirement” was the No. 1 goal of plan sponsors. The study surveyed sponsors of plans ranging in size from 25 to 10,000 participants that use a wide variety of record keepers. READ MORE

By NAPA Net Staff11/23/2014 • 0 Comments

Where is the next generation of plan advisors coming from? To answer that question, NAPA set out to find the top young advisors — the profession’s “Young Guns.” The results of that effort: our list of the “Top 50 Plan Advisors Under 40.”  READ MORE

By NAPA Net Staff11/20/2014 • 0 Comments

CUNA Mutual Retirement Solutions has hired Joe Eleccion as Western Divisional Vice President, effective Oct. 27. Eleccion will lead all major sales efforts in that division for the company and will report to Paul Swanson, VP of intermediary sales and institutional relationship management. READ MORE

By NAPA Net Staff11/20/2014 • 0 Comments

The SEC has issued its 2014 Agency Financial Report, in which it outlines the actions it undertook in 2014 and its goals for 2015.  Investment News notes that the report is vague about whether the SEC will propose a new uniform fiduciary standard in FY 2015, which began Oct. 1, 2014. READ MORE

By NAPA Net Staff11/20/2014 • 0 Comments

Spectrum Pension Consultants, Inc., an Alliance Benefit Group member firm, announced Nov. 19 that Compensation Consultants, Inc. has merged into the firm. CCI’s clients and advisor partners will have access to a comprehensive suite of plan administration and management services while still maintaining high quality customer service. READ MORE

By NAPA Net Staff11/17/2014 • 0 Comments

Which factor do DCIO managers rate as most important in determining the effectiveness of DCIO salespeople? READ MORE

By NAPA Net Staff11/17/2014 • 0 Comments

Six of the top 11 worst market declines have happened during the month of October, and while most market indices trended higher this October, it was still a busy month for participant transfers. READ MORE

By NAPA Net Staff11/17/2014 • 0 Comments

Younger workers seem to be benefiting from the automatic plan design features incorporated in the Pension Protection Act — but may be leaving company match money on the table.

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By NAPA Net Staff11/17/2014 • 0 Comments

Gary Jurney, president of Kainos Partners in Houston, has joined Pensionmark as an affiliate, the firm announced Nov. 18. Jurney's firm becomes Pensionmark’s second office in the city.

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By NAPA Net Staff11/17/2014 • 0 Comments

Pioneer Investments announced Nov. 17 that Craig Anzlovar has been named Fixed Income Client Portfolio Manager. He is based in Boston. READ MORE

By NAPA Net Staff11/16/2014 • 0 Comments

A new report claims that employees are less likely to take a loan from their 401(k) account if their company also offers an employee stock purchase plan (ESPP). READ MORE

By NAPA Net Staff11/15/2014 • 0 Comments

Things you might have missed — but shouldn’t. View highlights from last week’s NAPA Net posts. READ MORE

By NAPA Net Staff11/14/2014 • 0 Comments

You may be scared about your job – but are you scared of it?  Asked to choose from a list of the jobs they found the most frightful (or submit their own), workers provided the following answers: READ MORE

By NAPA Net Staff11/14/2014 • 0 Comments

What's the top topic of conversation with financial advisors' clients? According to the most recent Russell Investments' Financial Professional Outlook, FAs said market volatility (at 47%) was the top topic of investor-initiated conversations in recent months. That's no surprise, of course; Russell says that's been the top investor-initiated topic all year. READ MORE

By NAPA Net Staff11/14/2014 • 0 Comments

Alliance Benefit Group-Illinois (ABG-IL) has updated its app designed to help retirement plan advisors and plan sponsors keep a closer eye on plan limits and deadlines. READ MORE

By NAPA Net Staff11/13/2014 • 0 Comments

In a post on BenefitsPro, Heidi L. LaMarca of the Atlanta-based CPA firm of Windham Brannon, reveals her list of the top 10 mistakes auditors catch. READ MORE

By NAPA Net Staff11/13/2014 • 0 Comments

The Internal Revenue Service is reminding low- and moderate-income workers — as well as the advisors who work with them — about an opportunity to earn a special tax credit while they save for retirement. READ MORE

By NAPA Net Staff11/12/2014 • 0 Comments

While small business owners acknowledge the importance of preparing for retirement, a new survey finds that speaking with a financial advisor barely outranked reading books or articles about retirement. READ MORE

By NAPA Net Staff11/12/2014 • 0 Comments

Women may live longer than men — and have less saved for retirement, on average — but who’s more worried about retirement? READ MORE

By NAPA Net Staff11/12/2014 • 0 Comments

Nearly all (94%) of non-retired middle-income Boomers expect to be able to retire someday, but many more expect to retire after age 65 than earlier — but those who work with a financial professional are more optimistic about their prospects. READ MORE

By NAPA Net Staff11/12/2014 • 0 Comments

The IRS’ intent to step up Section 409A audits may drive plan sponsors to seek assistance in either cleaning up their nonqualified plans or assessing the overall complexity and whether fewer bells and whistles are wanted, according to a new study by Wells Fargo, especially in light of a recent finding that 30% of plan sponsors do not follow a formal due diligence review schedule for their nonqualified plans. READ MORE

By NAPA Net Staff11/11/2014 • 0 Comments

LPL Financial announced Nov. 11 that Goss Wealth Management has transitioned to the LPL broker-dealer and hybrid RIA custodial platform. Goss has a total of four financial advisors and four support staff, as well as a chief financial officer. READ MORE

By NAPA Net Staff11/10/2014 • 0 Comments

Fewer defined contribution plan participants changed their asset allocations during the first half of 2014 than a year ago, according to a new report from the Investment Company Institute (ICI). READ MORE

By NAPA Net Staff11/10/2014 • 0 Comments

Pentegra Retirement Services announced Nov. 11 that Jeffrey Johnson, AIFA, CRPC, has joined the organization as a Regional Director for qualified plan sales. 

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By NAPA Net Staff11/7/2014 • 0 Comments

A new report reveals that while 401(k) and IRA balances dipped in the third quarter, overall they were still higher than a year ago. READ MORE

By NAPA Net Staff11/7/2014 • 0 Comments

They say that real estate is all about “location, location, location.” But could location be a factor in retirement plan participation as well? READ MORE

By NAPA Net Staff11/7/2014 • 0 Comments

If you're looking for an easy-to-use guide to employee benefit plan reporting, the IRS has just the thing, in the form of a handy guide to reporting and disclosure requirements under ERISA.

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By NAPA Net Staff11/7/2014 • 0 Comments

Transamerica Retirement Solutions announced Nov. 10 the availability of a new mobile app that can help drive up retirement savings by using “augmented reality.” The app brings a new level of interactive mobile technology that allows users to view short retirement readiness awareness videos, the firm said.  READ MORE

By NAPA Net Staff11/6/2014 • 0 Comments

Alliance Benefit Group of Minnesota & Kansas (ABG-MNKC) is the inaugural recipient of the Best-in-Retirement Business IMPACT Award™, a category introduced this year as part of Charles Schwab & Co., Inc.’s annual IMPACT Awards® program. READ MORE

By NAPA Net Staff11/6/2014 • 0 Comments

While it may have felt nice to get that “extra” hour of sleep last weekend, odds are the rest of your week has seemed a bit “off” (particularly if you stayed up for the election results).

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By NAPA Net Staff11/6/2014 • 0 Comments

The Principal Financial Group announced Nov. 7 that it will acquire AXA's Mandatory Provident Fund and Occupational Retirement Schemes Ordinance pension business in Hong Kong for approximately $335 million. READ MORE

By NAPA Net Staff11/5/2014 • 0 Comments

As the dust settles on the 2014 midterm elections, join NAPA Executive Director Brian Graff and Political Director Jim Dornan for a members-only, 45-minute webcast, as they help you understand what the new political landscape means for plan advisors. READ MORE

By NAPA Net Staff11/5/2014 • 0 Comments

Nationwide has expanded the company’s 3(38) investment fiduciary service from IRON Financial, LLC, the firm announced Nov. 5.

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By NAPA Net Staff11/5/2014 • 0 Comments

Health care costs in retirement are a growing concern for many, but a new research report claims to find a silver lining — of sorts. READ MORE

By NAPA Net Staff11/3/2014 • 0 Comments

Participant balances bounced back last month, more than making up for September’s losses, according to the Employee Benefit Research Institute (EBRI). READ MORE

By NAPA Net Staff11/3/2014 • 1 Comments

Things you might have missed — but shouldn’t. Here are highlights from last week's posts on NAPA Net. READ MORE

By NAPA Net Staff11/3/2014 • 0 Comments

The sales pro’s experience is at least as important as the territory he or she is covering, according to a recent report.  READ MORE

By NAPA Net Staff11/3/2014 • 0 Comments

Focusing on the need for greater industry-wide diversity among independent RIAs, Schwab Advisor Services has launched a comprehensive, multi-faceted program to help advisors understand the opportunity for and the value of creating a diverse workforce, and to help them take action to accomplish that goal. READ MORE

By NAPA Net Staff11/2/2014 • 0 Comments

BlackRock has named Chip Castille to a newly created position of chief retirement strategist, Bloomberg reported Oct. 31.

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Ronald Triche

Ronald Triche

By Ronald Triche11/20/2014 • 0 Comments

The NAPA Government Affairs Committee submitted a comment letter Nov. 19 to the Department of Labor regarding the use of self-directed brokerage (SDB) windows and accounts in ERISA-covered participant-directed individual account retirement plans. READ MORE

By Ronald Triche11/5/2014 • 0 Comments

Have you worked with plan sponsors who have, or who have considered, adopting a qualified default investment alternative (QDIA)? READ MORE

Jon Vogler

Jon Vogler

By Jon Vogler11/24/2014 • 0 Comments

Now that mid-term elections are over, let’s take a quick look at how the results affect some key retirement issues. READ MORE

By Jon Vogler11/3/2014 • 0 Comments

On Oct. 24, the Treasury Department and the IRS issued new guidance designed to expand the use of income annuities in target date funds in 401(k) and other DC plans.

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