Deals & People May 17, 2010

NUA Advisors Establishes Retirement Division in the Midwest

Steven D. Cox has joined Columbus, Ohio-based NUA Advisors, LLC, to establish a Midwest division of NUA’s Qualified Retirement Planning Group.
Reported by

NUA, an investment advisory firm specializing in non-traditional investing within retirement accounts, announced that Cox will be based in Columbus and focus on adding non-traditional investments to the mix of investments available in 401(k) and defined benefit plans.

Before joining NUA in early May, Cox served as the benefits finance director at a Fortune 100 firm.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

Compliance May 17, 2010

Legislation Would Establish New Consumer Price Index for Social Security

A Washington, D.C., senior-citizen advocacy group today said it applauds a new piece of legislation that would create an inflation measurement based on expenses typically borne by seniors.
Reported by

A news release from RetireSafe said the CPI for Senior Act (H.B. 5305) would establish a Consumer Price Index for Seniors (CPI-S) on which the government would base Social Security cost-of-living adjustments (COLAS).

RetireSafe President Thair Phillips said in the release that the Social Security COLAS are now based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Phillips said the system produces an inaccurate result because the CPI-W benchmark does not reflect expenses of a typical senior citizen—particularly the higher health care costs.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

“While there may be other approaches to address this problem, we believe the critical first step should be a truly accurate CPI-S that can finally be used to provide a fair and accurate Social Security COLA each year,” Phillips said.

Phillips pointed out that the government’s current system resulted in no COLA for 2010.

More information about the group is available at www.retiresafe.org. 

«