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Securities and Exchange Commission (SEC) Chair Mary Jo White confirmed March 17 that the Commission will “implement a uniform fiduciary duty for broker-dealers and investment advisors where the standard is to act in the best interest of the investor.”The statement, reported by Investment News,...
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The Securities and Exchange Commission should pursue an effort to set new rules for broker-dealers and investment advisors in their work to burnish clients’ pots of gold, March 17 remarks by SEC Chairman Mary Jo White indicated. She made her comments at a meeting of the Securities industry and...
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ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events for ASPPA members.Live WebcastsMaking Sense of MEPs and Other Fiduciary Delegation ModelsWednesday, April 8, 20152:00 p.m. - 3:40 p.m. ETSpeaker: Robert J...
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Your plan sponsor clients just got a little more breathing room on those annual 401(k) plan investment notices.The U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) has announced a direct final rule that provides a two-month grace period for participant-directed...
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The priority guidance plan for 2015-2016 for the Treasury Department and IRS is not yet set in stone. But they are working on it. And in Notice 2015-27, they have invited recommendations on what exactly should be in that plan.The plan will identify projects that the Treasury Department and the IRS...
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Record highs on Wall Street did little to motivate participant movement in February — and while transfers favored fixed income during the month, international funds also had some allure.According to Aon Hewitt’s 401(k) Index, which tracks the activity of roughly 1.3 million participants and $160...
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Baby Boomers who have yet to cut the financial cord with their adult children are increasingly finding that tether to be more like an anchor keeping them from reaching retirement.According to a new study of Baby Boomers by Hearts & Wallets, only 21% of Baby Boomers who still support adult...
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The IRS on March 16 in IR-2015-50 issued reminders concerning tax treatment of individual retirement account. Among them is a reminder that there still is time to contribute to an IRA for 2014 and, in many cases, qualify for a tax credit or deduction.Other reminders the IRS issued in IR-2015-50...
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As the White House promotes the Department of Labor’s (DOL) reproposal of the fiduciary rule, Sen. Elizabeth Warren (D-Mass.) took the opportunity March 12 to criticize “brokers on Wall Street” and reinforce the administration’s messaging on the controversial proposed regulation.At a Senate Special...
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Americans strongly believe in and support saving for retirement. But that doesn’t necessarily mean that they’re saving as much as they are projected to need in order to be financially ready for retirement. The findings of two recent studies illustrate this disconnect.The National Institute on...
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