Search the News Archive

Financial Advisors Implementing New DOL Rules

"87 percent of advisors are considering changes to how they do business.... 43 percent may plan to expand services offered to more holistic planning and 26 percent may plan to focus on non-qualified accounts.... Just 42 percent of advisors say they are aware of their firm's timeline for implementation or what training or support the firm will provide, while only a third (33 percent) are aware of their firm's new compliance procedures.... Only 23 percent of advisors are aware of their firms' plans with respect to adoption of the BICE to sell variable compensation products. At the same time, 78 percent identified the BICE as one of the greatest areas of impact to their business."

Online Tools for Retirement Preparation is Newest Trend in Insurance Company Websites

FAQs About RIFs and Possible FICA Refunds (PDF)

2 pages. "The following Q&As demonstrate that seeking [a refund for FOCA taxes paid in connection with involuntary terminations of employment] is easy. [1] What are the key facts that could open the door for a FICA refund?... [2] What was the 6th Circuit's rationale?... [3] Will the 6th Circuit's decision come to apply nationwide?... [4] What are the steps to pursue a FICA refund?"

Most Retirees Fear Rising Health Care Costs But Don't Talk to Advisors About It

"[N]early three in four say health care costs going out of control is among their top retirement fears. However, according to [a recent] survey ... of 1,250 Americans with at least $250,000 in household assets -- including 625 who plan to retire by 2020 -- 38 percent of those nearing retirement say they have not discussed their retirement at all with a financial advisor. Of those who have, only one in five discussed health care costs in retirement not covered by Medicare."

American Benefits Council Comment Letter to CFTC/SEC on Study of Stable Value Contracts under Dodd-Frank (PDF)

6 pages. "[The Council writes] to reemphasize the continued importance stable value contracts have with respect to our country's retirement security and reiterate that these contracts are not swaps.... [T]his is the best approach because the use of exemptive authority to relieve stable value contracts of the burdens of swap regulation, while a reasonable second-best solution, could have unintended consequences.... The Commissions' final regulations defining swaps reiterate Congress' intent to exclude insurance products from the definition of swap.... The same analysis is applicable to all stable value contracts."

Defined Contribution Plans & IRAs: Existing Tax Incentives Effectively and Efficiently Increase Retirement Savings (PDF)

6 pages. "Some have argued that the current tax incentive system is not the optimal structure, finding fault with a retirement savings tax exclusion that provides a tax benefit proportional to an individual's income tax bracket. They have proposed replacing it with after-tax contributions paired with a tax credit (capped at a dollar or percentage level). As detailed [in this article], the critique of the current structure is misplaced, and the new proposed tax regime would represent a disruptive change posing unwarranted risks for individuals saving for retirement. It very likely would lead to a decline in savings levels and reduced plan sponsorship by employers, both of which would have detrimental effects for the retirement prospects of American families and for our economy as a whole."

The Principal® 10 Best Companies for Employee Financial Security-2004

Excerpt: We understand that financial security is a critical element in employers' success in recruiting, retaining and motivating employees. That's why we searched nationwide for the 10 best companies for employee financial security. After all, it takes real commitment to select and provide benefits that contribute to employees' sense of financial security.