Advisers Latest

When we take a look at our industry and the landscape ahead, one can wonder who might be better equipped to handle the rigors of a rapidly changing industry: the seasoned, been-around-the-block adviser or the young and energetic newcomer who is ready to impart fresh ideas. Clearly, a younger person's thought process can be very different than a seasoned employee or adviser. This has its advantages and disadvantages. And it raises the question of how a younger adviser could help or hinder our industry.

Nonqualified deferred compensation plans are on the upswing.

The use of online calculators and retirement advisers has been linked to higher levels of retirement confidence.

Humana Inc. and UnitedHealth Group Inc. rose after congressional researchers said the U.S. Medicare program has the authority to raise payments to insurers.

Covered California, Digital Insurance, Alegeus Technologies and more announce personnel moves. Check to see if a colleague is mentioned today.

Spring is a time of new growth. The buds on trees start to appear, dormant flowers launch their annual makeover, and the grass begins its transition to a beautiful shade of deep green. If only growth in your business was as easy as waiting for warmer weather.

In a recent letter to Acting Secretary of Labor Seth Harris, six members of the Congressional Black Caucus warned that if the DOL’s 2010 fiduciary proposal is re-proposed this year without significant changes, the rule “could disparately impact retirement savers and investment representatives in the African-American community,” according to the letter.

On the last day of 2012 the IRS updated the Employee Plans Compliance Resolution System (EPCRS), published as Rev. Proc 2013-12. The program allows plan sponsors to declare, fix and pay penalties (where applicable) for certain operational or demographic missteps under the “voluntary correction program” (VCP)

Apparently some plan sponsors and even advisers overlook a basic resource when conducting 401(k) enrollment and education sessions: The TPA. “Advisers are sometimes surprised to see a TPA at the meeting,” says Beth Harrington, president of Benefit Resources Inc. in Sacramento. “That shocks me.”

T. Rowe Price, the mutual fund giant, recently completed a study which showed that participants should average 15% in contributions into their 401(k) plan accounts each year to achieve retirement readiness. Approximately three years ago, Alliance Bernstein conducted a similar study which came to basically the same conclusion.