Service Providers
A new year has begun — and 2017 is anticipated to be a year of change. In MarketBeat, Ellie Lowder suggests that attending the NTSA Master’s Summit will be a simple way to lay a firm foundation for it to be a success.
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A highly compensated eligible employee of a non-governmental hospital did not know he could have contributed an $18,000 payroll deduction to his 457b for 2016. He wants it taken out of his last 2016 paycheck and corrected for a 2016 deduction. In Tech Talk, Ellie Lowder says whether this can be...
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Editor’s note: This is the second of a two-part series in which experts share their insights on some of their expectations for the coming year on issues relevant to retirement plans. Part 1 can be found here.The champagne flutes may be dry, but plenty of bubbling exuberance remains. And regarding...
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Editor’s note: This is the second of a two-part series in which experts share their insights on some of their expectations for the coming year on issues relevant to retirement plans. Part 1 can be found here.The champagne flutes may be dry, but plenty of bubbling exuberance remains. And regarding...
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A majority of retirement industry providers think that participants are likely to be confused by what results from the Department of Labor’s (DOL) fiduciary rule, and have a decidedly mixed sense of what it will mean for participant experience design.Almost 70% of respondents to the Broadridge “...
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Suppose a client has a 403(b) account in a public school district's plan in which no contributions have been made since 2003. In Tech Talk, Ellie Lowder tells us whether this account qualifies as a grandfathered account and if the client can self-certify.
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By most industry estimates, approximately 10% of plans change providers every year. Of course, far more consider making a change (without actually acting on it), and many changes are thrust upon plan sponsors, a consequence of poor service, or provider consolidation. Regardless of the motivation...
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By unintentionally overlooking little-known pitfalls, employers can inadvertently create a failure in their automatic enrollment programs. In MarketBeat, Barbara Webb identifies the most common errors related to elective deferrals that occur in 401(k) and 403(b) plans and discusses how they can be...
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More than half of plans with automatic enrollment use a default deferral rate more than 3%, up from 40.4% of plans in 2014, according to a new report. The survey found that 66.8% of companies retain an independent investment advisor, and of those, 59.1% pay a fixed fee, while 35.1% pay a...
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The plaintiffs in the only excessive fee suit to reach the Supreme Court will get another chance to make their case.The 9th U.S. Circuit Court of Appeals in San Francisco has now ordered a U.S. district court to rehear the Tibble vs. Edison International excessive 401(k) fee case. The opinion,...
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Why should you care about social media? MarketBeat looks at a Dec. 14 NTSA webcast that discussed how the financial industry is navigating compliance issues regarding social media and offered insights on why social media is important and how it can build and further a practice.
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Editor’s note: This is the first of a two-part series in which experts share their insights on some of their expectations for the coming year on issues relevant to retirement plans.It won’t be long till the champagne corks have been popped, the confetti has fallen and we will have embarked a new...
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A federal judge granted class action status in two very different lawsuits Dec. 14, though both involved challenges to actions regarding 401(k) plan investments.The first of the lawsuits, Brotherston v. Putnam Investments, LLC (D. Mass., No. 1:15-cv-13825, electronic notice of order granting class...
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Fitch Ratings has weighed in on what it thinks the impact of the Department of Labor’s (DOL) fiduciary rule will be on wealth managers.The bottom line? The effect will vary, according to the report.In no small part, the difference in impact is a result of the different approaches that various firms...
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“Washington didn’t see this coming,” NTSA Executive Director Chris DeGrassi said about the results of the 2016 elections in a Dec. 12 webcast. Elections have consequences, he noted, and those could include actions that affect retirement plans and benefits — including 403(b)s and 457s. In “What 403...
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Prudence, diversifying investments and administering a plan in accordance with its documents are critical. However, writes Robert Toth in MarketBeat, it is easy to forget that the fiduciary’s exclusive obligation is to provide retirement income from plans and that the point behind the rules...
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Those who run, offer and serve 403(b) plans know that they are more than glorified savings accounts and can have a variety of features. A recent report looks at what a sampling of 403(b) plans offered in 2016. In “403(b) Providers: Types of Retirement Income Solutions/Tools Offered, 2016,” Cerulli...
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Published reports indicate that President-elect Donald Trump is ready to name his choice for Secretary of Labor.According to The Wall Street Journal, Trump is expected to name fast-food executive Andy Puzder to the post, citing people familiar with the decision. Puzder, chief executive of CKE...
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Life is fraught with inconsistency, and a new study by Lincoln Financial Group (LFG) shows that extends to providing services to governmental retirement plans. But the study also suggests the antidote to those inconsistencies and to participation and deferral rates that are not as high as plan...
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ERISA plans have a procedure that is typically followed by financial institutions if a participant is “lost.” In MarketBeat, Susan Diehl tells us what you do in a non-ERISA 403(b) or under an IRA if the participant can’t be found.
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