Practice Management

Practice Management focuses on how to successfully and profitably run an advisory practice, including topics like client services, financial reporting, capital investments, hiring and managing people and integrating vendor partners, as well as the nuts and bolts of the business, like insurance and risk management.

 

 

Practice Management

Practice Management

By NTSA Net Staff3/2/2015 • 0 Comments

In this week’s Tech Talk, Ellie Lowder tells us whether 403(b) pay deferrals to a former employee can be taken from the compensation he or she receives for unused leave.
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By NTSA Net Staff2/19/2015 • 0 Comments

Cincinnati's unfunded pension liability amounts to more than $860 million; a deal to address it is close to being struck, but that could be months away.
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By NTSA Net Staff2/13/2015 • 0 Comments

Questions can arise about options for beneficiaries of 403(b) accounts. In this week’s MarketBeat, Ellie Lowder reviews the basics of beneficiaries’ rights to employer-sponsored retirement, as well as 457(b), plans.

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By NTSA Net Staff1/12/2015 • 0 Comments

In this week’s MarketBeat, Ellie Lowder offers her ideas regarding questions an employer client may ask you about meeting the mandatory bonding requirements which must cover any employee handling plan assets. READ MORE

By Fred Barstein10/2/2014 • 0 Comments

Though markets averaged a 7.45% return from 2004-2012, unfunded liability of public pension funds tripled — to just under $2 trillion — over that same period, according to a recent Moody’s report. Along with trying to recover from the recent recession, public entities are simply not providing sufficient funding. 
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By Ray Harmon9/23/2014 • 0 Comments

Republican Sen. Orrin Hatch (R-Utah) introduced the Secure Annuities for Employee (SAFE) Retirement Act (S. 1270) last year to reform the public and private pension systems and, amid recent retirement reform hearings on Capitol Hill, his public pension reform idea is now getting noteworthy support from an otherwise unlikely place: the left-leaning Urban Institute. READ MORE

By John Iekel8/12/2014 • 0 Comments

Distinguishing who the fiduciary is within a 403(b) plan or other qualified plan is an important determination, but that doesn’t necessarily mean that it’s an easy or clear determination. Quite the contrary: it is a highly confused, misinterpreted and somewhat gray area that many plan sponsors wish to forgo and would gladly delegate the role to another third-party. In MarketBeat, Kimberly Flett, CPA, QKA, QPA, discusses whether and how that can be done, and provides some common applications of the role of the fiduciary. 

 

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By John Iekel8/4/2014 • 0 Comments

The SEC adopted new rules affecting the $2.6 trillion money market industry late in July. The purpose of the rules is to alert investors about the risk of investments that were thought to be guaranteed, and they impose floating net asset value like other mutual funds rather than a fixed $1 value. In MarketBeat, Fred Barstein notes that the rules will apply only to funds institutions hold, and also discusses more about what the rules mean.  READ MORE

By John Iekel7/29/2014 • 0 Comments

A plan sponsor has many investment options it can make available to plan participants. Should the plan offer funds that are invested in stable value or mid cap growth funds? Emerging markets? Real estate investment funds? Target date funds? But there is something else a plan sponsor can keep in mind. In MarketBeat, Earle Allen posits the notion that a plan sponsor also should consider whether it will offer funds that are invested in companies that act with a social conscience.    READ MORE

By John Iekel7/28/2014 • 0 Comments

Defined benefit plans’ decline and a proportional rise of future retirees’ need for expert help in establishing and managing retirement accounts spelled growth for the financial services industry. But the market may be saturated — there are many advisors, but the universe of clients is flat or shrinking.  READ MORE

By John Ortman7/16/2014 • 0 Comments

Are graft and fraud the next big thing for state pension plans? An industry segment already beset by massive underfunding, bankruptcy court proceedings and other litigation, politics and pension envy doesn’t need any more bad news. But that may be exactly what it gets.  READ MORE

By John Iekel6/30/2014 • 0 Comments

In nearly half of the states, state pension benefits have changed —  often in a way that reduces them. This not only hurts retirement accounts and income, it also heightens a sense of urgency in boosting participation in 403(b)s and 457(b)s in order to bolster employees’ savings. One of the ways to do that, writes Ellie Lowder in MarketBeat, is to focus on employees’ financial literacy.  READ MORE

By John Iekel6/25/2014 • 0 Comments

That’s the specific — and implied — message of three experts offering their take on how to increase plan participation. TSA Consulting VP Steve Banks, Hendershot Financial Group’s Tom Hendershot and Teresa Ward, Retirement Plans VP at OppenheimerFunds, made their remarks to attendees at a June 23 session of the NTSA 403(b) Summit in Washington, D.C. 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 Iekel6/10/2014 • 0 Comments

The U.S. Supreme Court issued its decision in U.S. v. Windsor — in which it said that retirement plans must treat a same-sex spouse just they would any other spouse for purposes of benefits under the retirement plan — one year ago, on June 26, 2013. That makes this an opportune time for Ellie Lowder in MarketBeat to review some of the latest guidance that implements the Court’s ruling and with which you must comply. 

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By John Iekel5/6/2014 • 0 Comments

The funded status of public- and private-sector pension plans is a classic example of bad news/good news. To wit: Some states’ pensions are in bad shape, but funding of public-sector pension plans overall is improving; corporate pensions’ funded status fell in April, but only very slightly.  READ MORE

By John Iekel5/3/2014 • 0 Comments

There are things you should do — and not do — in using social media. And it’s especially complicated for those in the retirement plan industry, since social media communications must comply with the rules promulgated by regulatory bodies and others. Join us for an upcoming webcast, “Realities of Social Media in a Regulated Industry,” on Thursday, May 15 from 2 p.m. to 3 p.m. EDT. 

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By John Iekel4/14/2014 • 0 Comments

It’s now easier for plan sponsors and employers to participate in the 403(b) pre-approved plan program.  April 14 was the effective date of IRS Revenue Procedure (Rev. Proc.) 2014-28. The new guidance modifies guidance the IRS issued last year, Rev. Proc. 2013-22, to make it easier for a person to qualify as a pre-approved 403(b) plan sponsor and as a mass submitter.

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By Ronald Triche4/12/2014 • 0 Comments

The IRS, in Notice 2014-19 and related FAQs, says clearly that retirement plans — including 403(b) plans — have to recognize same-gender spouses and spells out how. The notice and FAQs, which the IRS issued April 4, are a follow-up on Revenue Ruling (Rev. Rul.) 2013-17, which provided general guidance on the tax implications of the Supreme Court’s decision in U.S. v. Windsor (the DOMA case). READ MORE

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