Technical Competence

This station houses posts and commentary about the challenges facing state and municipal DB pension plans — funding, municipal bankruptcies, litigation, etc.

Technical Competence

Technical Competence

By NAPA Net Staff4/7/2015 • 0 Comments

According to a survey largely comprised of responses from RIAs/IARs, the Department of Labor’s fiduciary proposal wouldn’t be a bad thing — and should be extended to 401(k) rollovers. READ MORE

By John Carl4/7/2015 • 0 Comments

Responding to a question from a financial advisor in Tennessee, the ERISA consultants at the Learning Center Resource Desk addressed a common inquiry related to plan fiduciaries. READ MORE

By NAPA Net Staff4/7/2015 • 0 Comments

State pension plans are likely to continue affecting, and straining, state budgets and funding, says Standard & Poors. READ MORE

By NAPA Net Staff4/1/2015 • 0 Comments

Avoiding litigation should be plan sponsors’ primary goal, but prudent plan drafting goes beyond mere risk avoidance. READ MORE

By Nevin Adams3/30/2015 • 0 Comments

A federal district court has dismissed retirement plan participant claims that Fidelity violated ERISA by keeping or improperly using “float income” generated by their plan(s). READ MORE

By Nevin Adams3/30/2015 • 0 Comments

Its day in court just days away, Ameriprise Financial, Inc. opted to settle a 2011 lawsuit claiming breach of fiduciary duty in the company’s 401(k) plan for $27.5 million. READ MORE

By John Iekel3/26/2015 • 0 Comments

Oregon has joined the growing number states weighing the establishment of a state-run retirement plan to cover private-sector employees. READ MORE

By Andrew Remo3/26/2015 • 0 Comments

The Securities and Exchange Commission and Department of Labor are both working on fiduciary issues — but their different approaches appear to be on different schedules. READ MORE

By Mike Bushnell3/25/2015 • 0 Comments

As the Obama administration moves forward with its fiduciary reproposal, a trade organization has published a white paper taking issue with the rationale for making those changes. READ MORE

By John Iekel3/23/2015 • 0 Comments

A discussion by NAPA executive director Brian Graff and Illinois State Sen. Daniel Biss (D) at the NAPA 401(k) Summit on March 22 centered on Illinois’ establishment of the first state-based IRA. READ MORE

By John Iekel3/22/2015 • 0 Comments

"The reality is, retirement is the new health care. It’s a top-tier issue.” Starting with that observation by NAPA executive director Brian Graff, a spirited discussion of the proposed fiduciary   or “no advice”  rule highlighted the opening session of the NAPA 401(k) Summit March 22.

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By Andrew Remo3/19/2015 • 0 Comments

Secretary of Labor Thomas Perez used his first appearances before the 114th Congress this week to deliver a full-throated defense of the DOL’s reproposed fiduciary standard. READ MORE

By Ray Harmon3/19/2015 • 0 Comments

Securities and Exchange Commission (SEC) Chair Mary Jo White confirmed March 17 that the Commission will “implement a uniform fiduciary duty for broker-dealers and investment advisors where the standard is to act in the best interest of the investor.” READ MORE

By Fred Barstein3/18/2015 • 0 Comments

Advisors are now clearly in the crosshairs of Employee Benefit Security Administration (EBSA) enforcement personnel, according to the Groom Law Group. READ MORE

By NAPA Net Staff3/17/2015 • 0 Comments

ERISA attorney Fred Reish has some thoughts on what he calls “the hottest ERISA issue of 2015. READ MORE

By John Carl3/17/2015 • 0 Comments

Responding to a question from an advisor in Connecticut, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common inquiry involving the withdrawal of RMDs from retirement savings arrangements. READ MORE

By Alisa Wolking3/16/2015 • 0 Comments

As the White House promotes the Department of Labor’s reproposal of the fiduciary rule, Sen. Elizabeth Warren (D-Mass.) took the opportunity March 12 to criticize “brokers on Wall Street” and reinforce the administration’s messaging on the controversial proposed regulation. READ MORE

By NAPA Net Staff3/12/2015 • 0 Comments

A group of eight Republican senators, including the HELP Committee chairman, have expressed their concerns about the potential negative consequences for American workers if the Labor Department’s fiduciary reproposal hasn’t changed significantly from the 2010 version. READ MORE

By NAPA Net Staff3/12/2015 • 0 Comments

In coming years, more than half of workers and retirees in terminated multiemployer plans will face a reduction in benefits under current Pension Benefit Guaranty Corporation (PBGC) guarantees if their plans run out of money, according to a new study. READ MORE

By Nevin Adams3/12/2015 • 0 Comments

A trio of New Jersey lawmakers has sponsored legislation that would create individual retirement accounts for employees of firms in the state with at least 25 workers who lack access to an employer-provided retirement plan. READ MORE

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