Archive | July, 2012

Big Jump in 401(k) Investors Seeking Diversification

July 31, 2012

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If plan sponsors wish to turn their 401(k) plan into a more pension fund like plan they need to promote professionally managed portfolios. Because of provisions in the Pension Protection Act of 2006 plan sponsors can automatically place a participant in an age appropriate portfolio. The particiapnt can stay in the portfolio or change risk […]

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Experts Discuss EPCRS Procedures in Seattle

July 31, 2012

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SEATTLE (July 17, 2012) — The 2012 Western Benefits Conference was recently held at the Seattle Convention Center on July 15-18 and was jointly sponsored by the Western Pension & Benefits Conference (WP&BC) and the American Society of Pension Professionals & Actuaries (ASPPA).
Related posts:

  1. Hoffman Gives Washington Update on Retirement Plans CHICAGO (June 21, 2012)— The American Society of Pension Professionals…
  2. Advisor Leaders Discuss 401(k) Industry Trends Finalists for the ASPPA 401(k) Advisor Leadership Award shared their…
  3. Ferguson & Finnegan Discuss Testing Issues Specific to Cash Balance Plans The ASPPA College of Pension Actuaries (ACOPA) held its Advanced…

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DOL Issues Clarification to Participant Fee Disclosure Guidance

July 31, 2012

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The DOL sees the danger of allowing plan participants choose their own investments. It’s a matter of protectin g the future you from the current you. The new FAB modifies and replaces Q&A 30 with a new Q&A 39, which says: Q39: A plan offers an investment platform that includes a brokerage window, self-directed brokerage […]

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Are Americans ‘Winging’ Their Retirement Plans?

July 31, 2012

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Left unchecked the retirement crisis in America will only worsen. Steps must be taken to control the banks and the other Wall Street bullies. Investors deserve and require a top notch retirement plan no matter what size company they work for. Business owners and managers need to address this or the federal government will be […]

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Investors to face challenge of figuring out new 401(k) fee disclosures

July 31, 2012

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The Wall Street bullies will not give up without a fight. I have read fee disclosure documents that were 42 pages long. Plan sponsors need to study these documents or hire someone to do it for them. Only then will we know what the actual costs of the plan are. The banks and the other […]

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Employer to Pay 500K for Failing to Monitor TPA

July 31, 2012

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Remember a plan participant or their beneficiary can file a compliant with the DOL at no cost. If the DOL finds merit in the case they will sue the employer. Scary stuff which can be avoided by working with an independent fiduciary. A U.S. Department of Labor (DOL) suit alleged insufficient oversight and mishandling of […]

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Employment-First Circuit Rules That Firing Is Permitted By Collective Bargaining Agreement

July 31, 2012

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In Cameron v. Idearc Media Corp., No. 11-2186 (1st Cir. 2012), the plaintiffs are former directory-advertising sales representatives in the Premise Sales unit of defendant, Idearc Media Corporation ("Idearc "). Each was discharged in July 2007. Idearc says they were…

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Emotions Override Statistics

July 31, 2012

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When you read a daily financial publication like the Wall Street Journal you find an enormous amount of facts. These facts can lead to vastly different conclusions. I wager that each day, with the exception of 2008-9, I can find 5 reasons the market will go up and 5 reasons it will go down. All […]

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Fiduciary Links: Why the SEC exam bill makes more sense than FINRA oversight

July 30, 2012

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>>>>In his latest InvestmentNews Fiduciary Corner column, fi360 CEO Blaine Aikin looks at the inherent problems with appointing an SRO, namely FINRA, as the oversight solution for improving adviser examinations (see also: fi360’s legislative alert opposing the bill at the…

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Get Beneficiary Designations in Order

July 30, 2012

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Regulations are changing everyday. Individuals need to review their beneficiary designations regularly. This should occur automatically when a life changing event happens. Remember some vehicles over ride your will. A beneficiary designation form provides important estate planning for what may be one of an individual’s most valuable financial asset.  One must be completed for each […]

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