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January 3, 2013
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News covering the insurance and financial advising industry

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  Industry News 
  • GAO: Wealthy families are more likely to use 529 plans
    Wealthy families benefit the most from 529 college-savings plans, according to a report from the Government Accountability Office. Less than 3% of households with children in college use the plans, and the GAO found that most of those who do use 529 plans are wealthy. About half bought the plan from a financial adviser. ABC News (1/2) LinkedInFacebookTwitterEmail this Story
  Investment Trends 
  • Study: High automatic 401(k) deferral rates may hurt participation
    Employers who set high default deferral rates in an attempt to compel worker participation in 401(k) plans may find the results disappointing, according to a study by the Center for Retirement Research at Boston College. While plans with automatic enrollment and escalation have been successful, high deferral rates could lead participants to promptly decrease their deferrals, the study found. Group demographics play a role, particularly in the case of low-income workers who were "nudged" to invest their income-tax returns rather than spend them, researchers said of an experimental project involving a savings-bonds program. BenefitsPro.com (1/2) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Opinion: LTC commission's effectiveness remains to be seen
    Time will tell whether the long-term-care commission established by legislation to avert the "fiscal cliff" will be more effective than the defunct Community Living Assistance Services and Supports Act, which it replaces, Allison Bell writes. The commission will be given six months to offer recommendations for use in potential House and Senate bills, which may indicate bipartisan understanding of a looming "silver cliff" affecting aging Americans, Bell writes. National Underwriter Life & Health (1/2) LinkedInFacebookTwitterEmail this Story
 
  • IRS draft clarifies family health coverage rules for employers
    The federal government clarified on Monday that employers are required to offer health insurance coverage to full-time employees and their dependents. The Obama administration says dependents are employees' children below the age of 26 and do not include spouses. Despite being required to offer family coverage, employers are not required to make it affordable and will not be penalized if employees cannot afford the coverage. The New York Times (tiered subscription model) (12/31) LinkedInFacebookTwitterEmail this Story
  Building Your Business 
  • Make commitments instead of new year's resolutions
    Financial advisers often set resolutions such as building a stronger client base or adding a skill set, but they can fail to keep them if they don't make a commitment, Gil Weinreich writes. Weinreich defines commitment as a decision that involves another person, such as a business partner, for accountability. AdvisorOne (1/1) LinkedInFacebookTwitterEmail this Story
  NAIFA News 
  • More consumers use the Internet for research
    "With two-thirds of Americans conducting searches online, it is not surprising that the number of people seeking information about life insurance and annuity products online has increased more than 60% over the past six years," said Mary Art, research director, LIMRA technology research. Read more on the Advisor Today blog. LinkedInFacebookTwitterEmail this Story
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Trust only movement. Life happens at the level of events, not of words."
--Alfred Adler,
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