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BY Nevin E. Adams, JD 4/30/2024
Are you confident about your retirement finances? Apparently, and despite responses that undermine a rational level of confidence, many are.
Last week, the Employee Benefit Research Institute (EBRI) and Greenwald Research unveiled their 34th annual Retirement Confidence Survey (RCS). Now, I’ve...
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BY Ted Godbout 4/30/2024
One week after the release of the final retirement security rule, senior officials with the Department of Labor’s Employee Benefits Security Administration (EBSA) defended the rollout of the fiduciary while taking a deeper dive to explain some of the key changes.
The DOL on April 23 released the...
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BY John Iekel 4/29/2024
Overall, private-sector employees are more than four times as likely to have access to a defined contribution plan than a defined benefit plan, according to the U.S. Bureau of Labor Statistics (BLS).
The BLS in “TED: The Economics Daily” reports that in its most recent National Compensation Survey...
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BY Todd Kading 4/29/2024
Let’s be honest: the label “managed account” has been broadly applied—some might say TOO broadly applied—in some cases to platforms that really are little more than expensive target-date funds.
Little wonder that a plurality of the advisor respondents to NAPA’s 2023 Summit Insider (for the second...
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BY Nevin E. Adams, JD 4/29/2024
While sympathizing with the participant-plaintiffs in the case, a federal judge finds no obligation to use “reasonable” life expectancy and interest rates in a pension calculation conversion.
Plaintiffs Thomas Reichert, Stuart Buck, and Kenneth Henrich (on behalf of themselves and others similarly...
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BY John Iekel 4/29/2024
It’s proverbial that with age comes wisdom. Recent research doesn’t vouch for that, but does suggest that at the very least, confidence in a financially secure retirement is more likely among generations that have been around longer.
Confidence Goes Boom
“Over the past several years, there has...
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BY Nevin E. Adams, JD 4/29/2024
After having managed to fend off some, but not all, claims in an excessive fee suit, plan fiduciaries have struck a deal with the participant-plaintiffs that had challenged the plan’s use of Prudential’s GoalMaker offering.
The suit began in October 2021 when plaintiffs Jeffrey Parker, Donald B....
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BY Ted Godbout 4/26/2024
Following a decade of litigation, defined contribution (DC) plan sponsors continue to rank governance and process—a broad category that includes much of the “basic blocking and tackling” that plan sponsors do on an ongoing basis—as one of the top areas of focus, a newly released survey reveals...
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BY Ted Godbout 4/26/2024
Professional services firm Aon announced April 25 that it has completed its acquisition of NFP, expanding the firm’s presence in the large and fast-growing middle-market segment.
The deal comprises funds affiliated with NFP's main capital sponsor, private-equity firm Madison Dearborn Partners (MDP...
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BY Nevin E. Adams, JD 4/26/2024
Well, here we are again at the end of yet another workweek … and yet, just look at what has happened to these guys and gals…
In Newberry County, South Carolina, the Newberry County Sheriff’s Office has apparently been getting a lot of noise complaints… so much that some people have even flagged...
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