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Despite prior evidence that retirement plan participants are passive and do not react to new information, a new study finds that the Department of Labor’s (DOL) participant fee disclosure regulation apparently did have an impact.
The National Bureau of Economic Research’s newly released “Out of...
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In MarketBeat, Nevin E. Adams, JD asks, if you think planning for retirement is complicated… how about planning a landing on the moon?
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Tech Talk addresses what an excess annual addition is.
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The IRS has issued a reminder concerning relief related to retirement plans provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It provides the information in a question-and-answer format.
More specifically, the IRS points out that the CARES Act, which President Trump...
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The IRS Employee Plans office has issued a reminder regarding upcoming filing deadlines applicable to most retirement plans. Especially important is that the IRS did not extend the deadline for filing the Form 5500, which remains July 31.
Accordingly, the 2019 Form 5500 is due on July 31, 2020,...
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The terms of a 403(b) excessive fee suit have come to light—and it includes some “therapeutic or structural relief.”
The proposed settlement (it must still be approved by the court) has been struck between the fiduciaries of the Princeton University based on a suit filed nearly three years ago...
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There is still a lot of 2020 left to go. But 2021 is fast approaching, and a July 22 Plan Sponsor Council of America (PSCA) webcast offered ideas on how to prepare for that.
In “Year-End Checklist: COVID-19 issues and Preparing for 2021,” three Winston & Strawn LLP attorneys—Ariane Andrade, an...
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In Segment I of the 15th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews 2020 Elite Advisor David Wolfe, CRES, of Educators Financial Services Advisors. They discuss Wolfe’s business background.
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Fiduciary status is based on your responsibilities with the plan, not your title. If you have discretion in administering and managing the plan, or if you control the plan’s assets (such as choosing the investment options or choosing the firm that chooses those options), you are a fiduciary to the...
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After having decided to offer a plan, the first step is to adopt a written plan.
All 403(b) plans, except certain church plans that do not contain any retirement income accounts, must have a written program that must contain mandatory provisions and may contain other optional provisions.
...
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After a period of starts and stops over the past week, the Senate Republican leadership unveiled a $1 trillion Coronavirus relief package July 27.
As an opening counter to the House of Representatives’ HEROES Act, the GOP’s Health, Economic Assistance, Liability and Schools (HEALS) Act sets the...
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The Securities and Exchange Commission (SEC) on July 28 announced that it has reached a settlement with VALIC Financial Advisors (VFA) over failing to disclose payments to promote services to Florida educators.
The SEC charged VFA, a financial services vendor in nearly every school district in...
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New for 2021! We’re recognizing fruitful, innovative pandemic business responses by financial advisors.
Continuing for 2021! Past Elite Advisors, whose award is more than five (5) years ago, and who continue to be innovative, unique and profound in their leadership, practice management,...
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The stock market has been a veritable rollercoaster in the last year. Three recent studies outline some of the effects of that volatility on retirement plans.
The ride predates 2020, T. Rowe Price observes in its Reference Point Annual Benchmarking Report. It notes that in 2019, stocks...
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In MarketBeat, John Iekel discusses a recent blog entry that observes that within the Baby Boom generation there are different circumstances and challenges, and that argues that a mix of approaches can improve its members’ retirement readiness.
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Tech Talk addresses what happens if one has excess contributions.
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The CalSavers Retirement Savings Board has issued a request for proposals for program fund external auditing services.
Specifically, the RFP—CRSB01-20-Program Fund External Auditing Services—seeks proposals from an independent certified public accountant interested in providing program fund...
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A quartet of GOP senators have introduced new legislation that would allow individuals facing financial challenges who are unable to make contributions to their tax-advantaged retirement accounts in 2020 to make catch-up contributions to these accounts in the coming years.
The Addressing Missed...
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In Segment III of the 14th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews 2016 Elite Advisor and NTSA Past President Adam Pearce, CFP®, CRES CERTIFIED FINANCIAL PLANNER™, who is part of Lincoln Investment’s Phoenix AZ office. They discuss community service and what the...
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Considering the Department of Labor’s proposed prohibited transaction class exemption for investment advice fiduciaries, Sen. Patty Murray (D-WA) indicated at the 2020 NAPA D.C. Fly-In Forum July 21 that it may be time for a legislative rewrite.
In response to a question about whether she...
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Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...