Managing Your Practice
The American Retirement Association on June 20 filed a comment letter with recommendations on items to be included in the 2017-2018 IRS guidance plan. The letter was in response to IRS Notice 2017-28.While it believes that every item in the plan could provide “clarity and guidance to sponsors of...
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With little fanfare and precious little notice, come July 1, 2017, broker-dealers and advisors doing business in Nevada will be subjected to a new fiduciary standard. Senate Bill 383, signed into law by Nevada Gov. Brian Sandoval (R) on June 2, revises the Nevada Securities Act to mandate that any...
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The Department of Labor recently issued a set of FAQs on the fiduciary rule. In MarketBeat, we discuss a blog post by Fred Reish in which he points out that one of those FAQs “raises some significant issues” for broker-dealers and RIAs.
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The DOL fiduciary rule — at least significant parts of it — has now been implemented. The dust has just begun to settle, although it could be stirred up again at any time. But for now, the rule is in place. A recent analysis offers an assessment of where things stand.In a recent Forbes post, “New...
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The IRS has updated the list of 403(b) pre-approved retirement plans that have received an IRS favorable opinion or advisory letter communicating that the IRS has determined that the plan satisfies the requirements of Internal Revenue Code Section 403(b). The IRS announced the update on June 14.A...
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It’s that time of year again! Help shape the 2018 NTSA Summit Fly-In by participating in our interactive online polling tool where you decide the content for next year’s event. Here’s How it Works: The online tool presents two session ideas. You pick your favorite — or add your own idea for...
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It’s heeeeere. But for many practitioners, practices and firms that read the tea leaves, the Department of Labor’s fiduciary rule has been a reality for a while and already has shaped what they do and how they do it.In “Retirement Plan Advisors — Managing Productivity and Risk,” a June 1 session of...
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The House of Representatives approved broad-based financial overhaul legislation on June 8 that seeks to repeal major provisions of the Dodd-Frank Act, as well as the Department of Labor’s now-effective fiduciary rule.Congressional Republicans have taken aim at repealing the Dodd-Frank Act since it...
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The new fiduciary rule will convert many current non-fiduciary advisers into fiduciaries. In MarketBeat, we provide a blog post by Fred Reish in which he discusses what this means for newly minted fiduciary advisors.
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That may seem an odd equation. And yet, a speaker at a recent retirement industry conference argues exactly that.A handful of states have put in place plans intended to help make sure that retirement plan coverage and participation expands. But the fact that states are acting to fill the coverage...
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A bill that would repeal some of the major provisions of Dodd-Frank and the DOL’s fiduciary rule will move to the House floor for a vote this week, something that did not happen in previous sessions for similar legislation. That said, even if the House passes it, its chances in the Senate are bleak...
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What makes an annuity a longevity annuity? In Tech Talk, we address what they are and what is unique about the latest regulations affecting them.
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The number of workers participating in the Social Security system has risen, as has the number of people receiving benefits. But while the importance of Social Security has increased, say recent reports, individual retirement accounts figure very prominently as well.Social SecurityEighty years...
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Defined contribution plan participants who are contemplating a rollover into an IRA are looking primarily for two things: advice and control, according to a recent study.The results in LIMRA Secure Retirement Institute’s study “Money in Motion: Understanding the Dynamics of Rollovers, Roll-ins, and...
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One of the more novel legal arguments opposing the fiduciary regulation has resurfaced in an amicus (friend of the court) filing.Arguing on behalf of plaintiffs (including the Chamber of Commerce) in the U.S. Court of Appeals for the Fifth Circuit, the Washington Legal Foundation (WLF), a nonprofit...
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Labor Secretary Alexander Acosta says the Department of Labor’s (DOL) fiduciary rule is his number one priority, and that he is actively seeking a way to freeze the rule that will “stick.”Acosta’s comments were made during a meeting with Sen. Tim Scott (R-SC), according to a communication from...
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The Social Security Administration (SSA) has released an issue paper that examines the similarities and differences between Social Security retirement benefits and annuities, and the factors that determine how much lifetime retirement income an individual would receive.In “Social Security...
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There is a disconnect between knowing one should be ready for retirement and actually being so. Recent research doesn’t just convey bad news in that regard, however — there’s good news, too.In “2017 Financial Security National Survey of Private Sector Employed Adults Age 18-64,” a study conducted...
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Suppose a public school client approved you as a vendor and recognizes you as the representative for an annuity company which wants to decide who the representative shall be. In Tech Talk, Susan Diehl offers suggestions regarding how the district should respond to the company.
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Suppose a public school client approved you as a vendor and recognizes you as the representative for an annuity company which wants to decide who the representative shall be. In Tech Talk, Susan Diehl offers suggestions regarding how the district should respond to the company.
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