September 23, 2016
Much remains unknown about how the Department of Labor’s fiduciary rule will impact the retirement planning market, but one thing seems clear: it will be costly.
The DOL, itself, estimated the cost to comply with the rule will be between $10 billion and $31.5 billion over ten years, with the most likely figure being $16.1 billion. The department expects $5 billion in first-year costs and $1.5 billion in annual costs after that.
Two companies have released figures on compliance...
June 12, 2014
NAIFA thanks Sen. Susan Collins for her efforts to encourage employers to establish retirement savings plans that allow employees to prepare themselves for retirement.
In a letter to Sen. Collins, NAIFA President John Nichols said: "NAIFA encourages support for the small business retirement incentives bill (S.1970) introduced by Sens. Susan Collins (R-ME) and Bill Nelson (D-FL). The bill would add a new more generous safe harbor for small business retirement plans, establish a tax credit...