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Managing Your Practice

The Wall Street Journal’s editorial board has challenged a specific “pay for” provision in the SECURE Act. But they’re missing the big(ger) picture. One of the main reasons the SECURE Act passed the House of Representatives by the large margin of 417-3 was that, as the WSJ acknowledges, it was “... READ MORE
In June 2009, the National Tax Deferred Accounts Association (NTSA) organized and sponsored the first NTSA 403(b) Compliance Resolution Summit (Summit) to address the pervasive service issues in the 403(b) marketplace. Several 403(b) product providers (vendors), third party administrators (TPAs),... READ MORE
In MarketBeat, Nevin Adams discusses some things that he argues plan fiduciaries of any plan size should be aware, and of which responsible plan fiduciaries should have a working knowledge. READ MORE
All 403(b) plans require some level of administrative support. Prior to the issuance of the final 403(b) regulations, most ERISA-exempt 403(b) plan sponsors performed some tasks required to establish and support their 403(b) programs and the product providers acted under their respective annuity... READ MORE
The number of women in the retirement plan industry is growing. Though still a male-dominated field, women are bringing their talents, skills and unique abilities to the table, and helping businesses thrive.   Help support female advisors and TPAs get to “WiRC” this summer at the 2019 Women in... READ MORE
If you’re like me, when I hear the word “networking,” I get a little nervous. It brings up visions of women frantically sticking their business cards in my face and giving me their elevator pitches at some organized luncheon. I prefer the terms, “connecting and collaborating”, because that is what... READ MORE
If you are anything like me, when someone mentions Millennials, your thoughts range from a snicker to cringe, thinking that the fate of the free world will lie in their hands. I mean, there is no way that they are as competent or capable as the Baby Boomers or even Gen-xers, right? However, my... READ MORE
Having a retirement plan and a commitment to facilitating employees’ saving for their retirement is important. In MarketBeat, John Iekel discusses a recent blog entry that argues that the good that accomplishes can be blunted if the employer and the plan administrators don’t communicate about the... READ MORE
A plan audit need not be unpleasant, and there are steps that can be taken to prepare for one and make it a smoother experience. In MarketBeat, John Iekel discusses a recent blog entry that offers suggestions regarding what can be done to prepare for a plan audit and avoid making errors. READ MORE
Editor’s Note: This is an occasional feature in the NTSA Advisor. It is drawn from The Source, a book that covers technical, compliance, administrative and marketing aspects of the 403(b) and 457(b) markets. More information about The Source is available here. An integral element of the 403(b) and... READ MORE
It’s no surprise to those in the investment industry that the increasing life expectancy of Americans has put some pressure on defined benefit plans because they are being required to pay out more in benefits than was originally anticipated by the actuaries. In an attempt to protect their plans and... READ MORE
“After vigorous advocacy and negotiation,” the parties in a 403(b) university excessive fee suit have come to terms. The settlement – stuck between participant-plaintiffs Diane G. Short, Judith Daviau and Joseph Barboza and Brown University – consists of a $3.5 million cash payment and “other,... READ MORE
The IRS has issued tables concerning covered compensation under Internal Revenue Code Section 401(l)(5)(E) and Treas. Reg. §1.401(l)-1. The data is contained in Revenue Ruling 2019-6. These tables provide information on covered compensation based on calendar year of birth and Social Security... READ MORE
In our business, there are tremendous ups and downs. It’s easy to be happy in your work environment when things are going well — when you’re closing business and clients are saying yes. However, it’s challenging to maintain a positive outlook when things don’t go according to plan. To help get... READ MORE
Recently, I was walking some clients to the door and as they were walking away I overheard something special. The woman remarked to her husband, “I always feel better coming in here.” I’ve long wondered what exactly it is that I do during meetings that makes people want to remain clients. I feel... READ MORE
Looking to expand your client base? Then you better be familiar with the unique mindset and preferences of Millennials as a generation ripe for guidance and engagement, says a new report.  Coming of age in the wake of 9/11, the 2008 market crash and the Great Recession, Millennials’ financial... READ MORE
Recent research shows that retirement plan participants are among those who prefer communication that is not riddled with jargon and “inside” terms that are familiar to plan providers, sponsors and administrators but mean little to those whom the plans serve. In MarketBeat, John Iekel discusses a... READ MORE
In order to serve a client effectively — and fulfill fiduciary duties, BTW — a fiduciary of course must know their client. And one also must pursue the client’s best interest. But it’s possible that those goals may not always be congruent; in fact, they may even be mutually exclusive. In MarketBeat... READ MORE
How would you respond in the below scenario? Imagine that the United States is preparing for the outbreak of an unusual disease, which is expected to kill 600 people. Two alternative programs to combat the disease have been proposed. Assume that the exact scientific estimates of the consequences... READ MORE
For the second time in about as many weeks, an excessive fee suit against the fiduciaries of a university 403(b) plan has been dropped. The original suit had been filed by two participants on behalf of some 4,000 participants in the 403(b) plan of Long Island University. The plaintiffs claimed... READ MORE

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