Practice Management

Practice Management

Practice Management

By John Iekel6/24/2014 • 0 Comments

Critics of 401(k)s argue that they will not deliver on what they promised. But MSN Money reports that the Employee Benefits Research Institute (EBRI) has provided empirical evidence that their assessments may be very much off the mark. 
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By John Iekel6/19/2014 • 0 Comments

Quick! Name a way to increase employees’ retirement readiness. Did you respond, “build employee engagement”? That’s the answer Richard Glass of Investment Horizons, Inc. would give. In his white paper, “Employee Engagement, Corporate Profitability, and Retirement Readiness," Glass argues that there is a connection between how engaged employees are and how well they prepare financially for their retirement. READ MORE

By Sarah Simoneaux6/19/2014 • 0 Comments

Which sign are you more likely to obey: “Keep off the Grass!” or “Please Walk on the Pathways”? Research shows that we comprehend a positive statement 30 to 40 percent faster than we do a negative statement. Using positive language doesn’t mean always saying “Yes.” However, delivering a message in the most positive way possible is key to avoid triggering negative emotions.  READ MORE

By John Iekel6/18/2014 • 0 Comments

Investment committee members generally are satisfied with the diversity of the committees to which they belong, according to a study by Vanguard. Nearly 30 percent defined diversity of their investment committee in terms of members’ backgrounds, and nearly 40 percent said it concerned the experience and expertise of its members. 
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By Fred Barstein6/11/2014 • 0 Comments

Rep. George Miller (D-Calif.) has asked Labor Secretary Tom Perez to look at potential conflicts of interest among pension consultants that recommend their own investments to clients, The Wall Street Journal reports.  READ MORE

By John Iekel6/11/2014 • 0 Comments

Have you voted yet in the market research ASPPA is conducting? The results are rolling in, but you can still participate in ASPPA’s effort to identify industry trends that regularly cause the most pain.  READ MORE

By John Iekel6/11/2014 • 0 Comments

Which factors most influence plan sponsors when they choose a plan provider? At the top of the list: trustworthiness and customer service, according to a new survey conducted by the National Association of Retirement Plan Participants (NARPP). Next are technology, education, administrative service and pricing, according to a Planadvisor article.  READ MORE

By John Iekel6/10/2014 • 0 Comments

Many sobering reports have been issued regarding the degree to which U.S. workers are preparing — or not — for retirement. The Bipartisan Policy Center’s (BPC) Personal Savings Initiative (PSI) may not be the first effort that seeks to help turn the tide of poor savings rates, but it has heft and features a far-reaching and ongoing discussion of the problem and ways to address it.  READ MORE

By John Iekel6/9/2014 • 0 Comments

Plan sponsors are committed to helping plan participants prepare for their retirement, says a study Brightwork conducted for the Principal Financial Group. The study looked at the responses of 283 plan sponsors, all of whom offer a 401(k), have more than 50 eligible employees and use the services of a paid professional to help them choose and monitor investment and service providers, design plans, conduct enrollment meetings and resolve problems with service providers.  READ MORE

By John Iekel6/8/2014 • 0 Comments

The federal government and U.S. workers agree that the Affordable Care Act (ACA) — a.k.a. Obamacare — will affect the timing of retirements. However, IFAwebnews reports that there’s a wide gap between what the government and many workers expect that effect to be, according to a survey conducted for MoneyRates.com.

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By John Iekel6/8/2014 • 0 Comments

ASPPA is conducting market research with TPAs and consultants in mind to help develop our educational offerings. Please take five minutes to participate in a fun, interactive online voting tool — tell us what industry trend regularly causes you the most pain and prevents you from becoming more successful.  READ MORE

By John Iekel6/3/2014 • 0 Comments

When it comes to having sufficient funds during retirement, expectations are low and fears rife everywhere, according to a recent study. In “The Changing Face of Retirement: The Aegon Retirement Readiness Survey 2014,” the Transamerica Center for Retirement Studies and Aegon polled 16,000 employees in 15 counties in North and South America, Europe and Asia and found that while a growing number of respondents expect their finances — and their countries’ economies — to improve in the short term, that optimism does not translate to confidence about the more distant future. 
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By John Iekel6/2/2014 • 0 Comments

Employees who are terminated may be gone, but they’re not always forgotten — at least regarding the retirement plan. A growing number of plans allow terminated employees to live on as participants, notes Robert Leahy of Alliance Benefit Group.  READ MORE

By John Iekel6/2/2014 • 0 Comments

Fear of running out of money during retirement is common, but it’s mitigated by interest in saving — the importance of which is not lost on younger employees, according to a new BoA Merrill Lynch report. The Spring 2014 Merrill Edge Report is based on a semi-annual study that looks at the concerns of the “mass affluent” — those with household incomes between $50,000 and $250,000. READ MORE

By John Iekel5/28/2014 • 0 Comments

More often than not, employees who obtain investment advice do not follow it. And that’s among those who bother to seek it in the first place. The Employee Benefit Research Institute’s 2014 Retirement Confidence Survey suggests that advisors have some work to do in boosting plan participants’ interest and confidence in professional advice.  READ MORE

By John Iekel5/28/2014 • 0 Comments

This white paper by Lowell M. Smith of Inspira looks at the problems posed by uncashed pension checks, which include handling interest on the funds awaiting transfer, notification requirements and how appropriate corrective actions are, not to mention the added complication of there being no clear guidance from the IRS and the Department of Labor on the subject. This paper examines the regulatory issues surrounding uncashed checks as well as possible solutions for handling them. READ MORE

By John Iekel5/21/2014 • 0 Comments

Exercising the fiduciary duties of prudence and disclosure regarding target date funds (TDFs) can be challenging, and a white paper by Richard Glass of Investment Horizons, Inc. discusses the issues 401(k) fiduciaries face and provides suggestions for addressing them.  READ MORE

By John Iekel5/21/2014 • 0 Comments

A recent study by Financial Engines and Aon Hewitt says that if a plan participant invests all or nearly all of their retirement assets in target date funds (TDFs), it can affect returns. Barrons also weighs in on the issue, quoting Bloomberg’s Ben Steverman.  
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By Fred Barstein5/20/2014 • 0 Comments

With the growth of auto-plan features, plan sponsors are subject to many misconceptions and fears that prevent them from doing the right thing for their employees. Missouri-based Pension Consultants Inc. identifies the seven biggest misconceptions about auto features, and provides solid answers that plan advisors can use with reluctant clients.

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By John Iekel5/16/2014 • 0 Comments

Auto enrollment and escalation can be very useful in boosting plan participation and setting in motion all the good effects that result from that. But like medicines, they should be used properly — and if they’re not, they can cause harm. So argues a new white paper from Milliman, “Auto enrollment: Two Sides to Every Coin.”  READ MORE

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