Archives for September 2009 | Compass Corporate Retirement Solutions BLOG

14 Sep

Independent Advisers Report More Optimism

Ellie Behling

September 14, 2009 — Forty-one percent of independent investment advisers reported that retired clients are reducing the amount of their retirement distributions, according to a study by Charles Schwab.

Surveyed advisers also reported that clients are considering short-term reduction of expenses (66%) and lowering fundamental expenses, such as changing their primary residence (40%).
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14 Sep

Retirement Losses among Worst Effects of Recession

Fred Schneyer

September 14, 2009 — Some 56% of respondents in a recent survey said their retirement savings losses were among the most significant impacts on their lives from the economic downturn.

An American Express news release about its spending poll also reported that 54% of respondents cited stock market losses, while 74% pointed to the trauma of seeing family and friends affected by the recession as key impacts the recession had on their lives.
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11 Sep

Workers Turn to Employers, Advisers for Retirement Help

Rebecca Moore

September 10, 2009 — A new study shows that most workers do not understand their retirement savings plans as well as other employer-provided benefits.

One in three (34%) Americans polled said they have little or no understanding of their retirement plan and three in four (74%) said they have less than a complete understanding, according to a release of results from The Hartford Financial Services Group, Inc. Employees indicated they had a better understanding of other benefits provided through their employer, such as medical coverage and life insurance.
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11 Sep

Obama Administration Launches Retirement Savings Initiatives

PLANADVISER Staff

September 05, 2009 — As the nation turns its attention to the three-day Labor Day weekend, the White House is talking about retirement security.

With 401(k) Day less than a week away (September 11), and the Labor Day weekend upon us, President Obama’s weekly radio address was titled “Labor Day and Fair Rewards for Hard Work.” Along with that address, the President and Treasury Secretary Tim Geithner announced “new steps to make it easier for American families to save for retirement.”
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11 Sep

Participant Equity Allocations Rising, but Slowly

Rebecca Moore

September 10, 2009 — Participants in 401(k) plans continued a cautious move into equity during August, with a total of $203 million shifted from fixed income into equities, according to the Hewitt 401(k) Index.

Hewitt said transfer activities were equity-oriented on 62% of the days during the month, and many equity asset classes realized net inflows during the month. Premixed funds, including target-risk and target-date portfolios, received approximately one-third of the net transfers, with $147 million moving into this asset class.
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04 Sep

PSCA Offers Free 401(k) Day Materials

Nevin E. Adams

August 25, 2009 — No matter how tight your—or your plan sponsor clients’—budget is, the Profit Sharing/401k Council of America (PSCA) has materials available that will fit within it.

In years past, PSCA has made portions of their annual 401(k) Day campaign available to the public; however, most materials were reserved for PSCA members only.However, PSCA has announced that this year it is making their annual 401(k) Day communication and education campaign available free to plan sponsors throughout the country.
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04 Sep

Don’t Kill Your 401(k)

Published: 03 Sep 2009 23:27:12 PST

Author: Nancy Mann Jackson

Is the recession making it difficult to fork over your company’s 401(k) contribution to your employees? If so, you’re not alone. The Pension Rights Center’s running list of companies that have changed or temporarily suspended their 401(k) contributions since last summer has reached 300. Yet, the list is dominated by large employers such as American Express and Xerox.
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04 Sep

Independent Advisers Prominent in Retirement Plans

Ellie Behling

August 04, 2009 — Independent advisers concentrate more of their assets in employer-sponsored retirement plans compared to other adviser channels, according to Cogent Research.

Overall, more than half (55%) of advisers in all channels are managing at least one employer-sponsored retirement plan (ESRP), according to Cogent’s annual Advisor Brandscape report.

Advisers in independent firms are more likely than other advisers to be involved with managing or providing advice on ESRPs, with more than half (60%) using them, followed by regional and national advisers (both 57%). Forty-one percent of registered investment advisers (RIAs) manage ESRPs.
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01 Sep

Retirement Security Is Crucial Issue For White House, Economic Official Says

Pension & Benefits Daily

A crucial issue for the Obama administration is retirement security, Lawrence H. Summers, assistant to the president for economic policy and director of the National Economic Council, said Aug. 1

Retirement security issues are included in the administration’s economic strategy, Summers told a retirement research conference sponsored by the Social Security Administration and the Retirement Research Consortium.
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01 Sep

10 Things You’re (Probably) Doing Wrong—or Not Doing Right—as a Plan Fiduciary

IMHO: “To Do” List
Nevin E. Adams, JD

http://www.planadviser.com/NewsColumnists.aspx?id=6468
August 16, 2009 —

Being a plan fiduciary is a tough job—and one that, it’s probably fair to say—is underappreciated, if not undercompensated. In my experience, most who find themselves in that role (see “IMHO: Duty Calls”) I think do an admirable job of living up to the spirit, if not the letter, of their responsibilities.
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