Managing Your Practice
The 2017 403(b) Masters Summit, to be held Jan. 25-27, 2017 in Carefree, Ariz., features an agenda planned by fellow NTSA members to help make the most of the new frontier and the opportunities it offers. The agenda includes four unique, progressive modules:
Fiduciary NOW! Why Not?
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State pension plans’ unfunded liabilities are on track to grow to $1.75 trillion, says Moody’s Investors Service. The rating agency said on Oct. 7 that it expects state public pensions to grow by 40% to that amount through fiscal 2017.By June 30, Moody’s says, the 100 largest U.S. public pension...
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One of the biggest changes ahead for some advisers because of the fiduciary prohibited transaction rules is that they will no longer be able to make recommendations that can affect the level of their compensation. As April 10 approaches, a recent blog post by ERISA attorney Fred Reish cautions...
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On Oct. 11, 2016, the American Retirement Association requested relief from the IRS for taxpayers, plan sponsors and service providers adversely affected by Hurricane Matthew.The ARA notes that Matthew caused significant damage throughout the Southeast, resulting in “significant hardships for...
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Think you’ll find rollovers more complicated under the Labor Department’s fiduciary regulation? You aren’t alone. In a recent blog post, ERISA attorney Fred Reish notes that banks, as well as advisors, may find themselves confronted with a fresh set of challenges. Reish notes that it appears to...
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Labor force participation rates among college-educated women grew in the first decade of the 21st Century. But not among the population one would expect: That result was among 60-to-64-year-olds. A recent study looks at that finding as well as how pensions help explain it.In “Teaching, Teachers...
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The IRS has made an early release of the draft of the 2016 Form 5500-EZ instructions. They are to be used for providing the information about the 2016 plan year that is to be filed in 2017.The draft reflects two changes from the 2015 Form 5500-EZ instructions:1. The IRS has decided not to require...
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Current providers have something of an inside track, but they’re not the most popular reason for selecting a rollover IRA destination. When plan participants are asked why they would consider a specific firm for a rollover IRA, 35% select brand trust, far outweighing all other factors, according...
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The IRS recently issued a technical advice memorandum on rollovers between Coverdell education savings accounts (ESAs). In MarketBeat, Susan Diehl notes that now a tax a taxpayer can only make one rollover from one Coverdell ESA to another ESA in a one-year period, regardless of the number of...
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If you have a client who retired after normal retirement age but before he had five years of service, can he use the “last 3-year catch up” in his 457(b) plan? In Tech Talk, Ellie Lowder tells us.
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The legislative package that cleared the Senate Finance Committee unanimously in late September included provisions intended to encourage the use of lifetime income products, including a late addition that could turn out to be the most significant.Lifetime Income Selection Safe HarborThat provision...
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A new report claims that by 2020, the DOL’s new fiduciary rule will result in a $2 trillion asset shift and roughly $20 billion in lost revenue. But there are winners as well as losers.According to the A.T.Kearney DOL Fiduciary Rule Study, industry players will be affected at all levels. The report...
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In class action suits, plaintiffs’ attorneys generally receive a fee whose amount is contingent on the amount of the verdict or settlement — frequently about a third.What about the excessive fee suits?Most of the excessive fee suits brought to date haven’t made it to trial, but a number have...
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Can employees opt out of ERISA-related plans rather than have the money placed into a corresponding 401K? In Tech Talk, Ellie Lowder tells us.
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Designated Roth Contributions (DRCs) have been a permissible retirement plan feature since 2006; however, there is still confusion in the retirement plan community regarding DRCs. In MarketBeat, Lynn Knight tests your knowledge and dispels the mist.
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In an email to participating RIAs in North Carolina’s Total Retirement Plan 403(b) Program on Sept. 16, the State Treasurer’s office announced that it is terminating its contract with TIAA for record-keeping services. It will instead negotiate with Prudential, which means that Prudential will soon...
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The recent flurry of lawsuits against major universities on their (very large) 403(b) plans has raised significant concerns in the market related to what has been very common plan designs. In MarketBeat, Robert Toth discusses what the differences between 403(b) plans and 401(k) plans mean regarding...
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It can be really hard to make a prediction that comes true. Just ask pollsters and meteorologists. And that principle holds true regarding returns on retirement accounts and investments.Christopher Carosa in FiduciaryNews examines which is better when making retirement return projections: looking...
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The advent of the Department of Labor’s (DOL) fiduciary rule has already been having results, and more than half a year before implementation. The latest sign of its potency: advisor interest in training about regulations.That interest is up sharply, says the LIMRA Secure Retirement Institute in a...
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Broker-dealers and registered representatives must link to FINRA’s BrokerCheck website on their home pages and any pages on their websites featuring profiles of representatives who work with retail investors. This requirement came into effect after the Securities and Exchange Commission approved a...
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