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Just as Congress gets ready to debate whether there is a “retirement crisis,” new survey results from an organization supportive of restoring defined benefit plans finds that Americans are increasingly worried about retirement.
According to the survey results from the National Institute on...
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Litigation that involved a multiple employer plan (MEP), merging plans, a 3(38) investment advisor, a plan sponsor—and at one point an advisor (NFP)—has been resolved in favor of the fiduciary defendants, while reminding us of the value and importance of a prudent process in target-date fund...
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Last week we explored the reasons why small businesses DON’T offer a retirement plan to their workers. But there are quite different—and positive—reasons for choosing to do so.
The obstacles that keep most small businesses from offering a retirement plan to their workers are an assortment of...
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To further support growth and education, Voya Financial has announced the expansion of its Employee Success and Education team with the addition of a new Managed Account Specialist team.
Voya notes that year-over-year growth in its managed account solutions is up 28%. And with education being a...
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A new study finds that an increasing number of women are feeling financially prepared for retirement thanks to their growing involvement in financial planning.
According to the study from Bryn Mawr Trust, gone are the days when women asked others to handle their financial planning, as only 1%...
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The plan document is not a suggestion; it’s a roadmap to compliance and competent and effective administration. But it’s not always given the regard it deserves—which can imperil a plan and those whom it ultimately was written to serve.
Oops
Robert M. Kaplan, Director of Technical Education at...
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What's in the episode?
‘Retirement provocateur’ Kathleen Kennedy Townsend played an instrumental role in the debate over retirement issues, resulting in significant policy ideas. A founder of the Georgetown University Center for Retirement Initiatives, the 40-year political veteran and former...
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Yet another plan has been sued for breaching its fiduciary duties by using forfeitures to offset company contributions, rather than allocating those to remaining participant accounts.
The target this time is Tetra Tech Inc. The suit filed on behalf of participant-plaintiff Tamara Yagy by Hayes...
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While the 401k Averages Book has served as a resource for evaluating 401(k) plan fees among large and small plans alike, the newly released 24th edition now includes new benchmarking data on advisor compensation, as well as recordkeeping administration.
In responding to the evolving landscape of...
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State Rep. Mike McFall (D-Hazel Park) has introduced House Bill 5461, which will expand retirement savings options in Michigan and allow employees to save for retirement even if their employer does not offer a program to do so.
According to a press release, MI Secure Retirement is designed to...
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Looks like an American Airlines participant-plaintiff who argued that plan fiduciaries didn’t act in participants’ best interests in including funds managed by firms that allegedly favored ESG interests will get his day in court.
Participant-plaintiff (and pilot) Bryan P. Spence filed suit in the...
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Consumers are increasingly aware of newer fintech firms, but is it translating to new assets?
Tech-powered offerings from new entrants now lead those form traditional financial services firms. Still, only a few are converting that awareness into significant business, according to a new report...
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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 Milwaukee, Wisconsin, a recent collision between an Amazon van….and an Amtrak train…got caught on video… nobody hurt (incredibly—driver missed by INCHES), but some shocking...
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Marking the beginning of integrating RIAs into The Retirement Planning Group (TRPG) under Cetera, the firm announced Feb. 21 that TRPG has acquired Dightman Capital Group based in Overland Park, Kansas.
TRPG has acquired 100% of the assets of Dightman Capital Group, which is owned and operated by ...
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Amid the recent attacks on the 401(k) savings system, the key Senate committee with jurisdiction over ERISA plans to hold a hearing next week to examine what it describes as “confronting the retirement crisis facing working class Americans.”
The Senate Health, Education, Labor, and Pensions (HELP...
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On Tuesday, the American Retirement Association (ARA) sent a letter to the Internal Revenue Service (IRS) that addressed technical issues affecting certain SECURE 2.0 provisions. It noted a few that are of particular relevance to retirement plan sponsors and advisors.
More specifically, the ARA...
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There is a long road from a fiduciary proposal to a rule in force.
When you read this column, the proposed “new” fiduciary rule will be read, digested, analyzed, and the subject of countless articles, webinars, and more. So, where do you go now as an advisor?
For advisors or the advisory...
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With broker/dealers (B/Ds) actively encouraging their advisors to embrace the retirement plan space, a new report by Cerulli suggests that asset managers will need to adapt their approach to product distribution and advisor support in this evolving intermediary landscape.
In fact, most top-tier...
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Building off its existing small business offerings, HUB Retirement and Private Wealth (HUB RPW), a division of HUB International Limited, announced the launch of the HUB Retirement Select PEP (Pooled Employer Plan).
According to the firm’s announcement, it is designed for clients with less than...
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Longevity and the demise of defined benefit pension plans are causing increased concern about the possibility of outliving accumulated assets—and a corresponding interest in retirement income options.
It’s the reason the National Association of Plan Advisors (NAPA) launched a new certificate...
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ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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Congress’ watchdog agency apparently thinks so. That was one of the recommendations in a newly released report by the Government Accountability Office (GAO).
A “pension dashboard” could be useful in the United States to help participants track their retirement savings when they change jobs, but...
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TIAA’s default investment solution that provides access to a guaranteed-interest annuity contract has recently grown to more than $30 billion in assets and over 400,000 individual participant accounts across nearly 500 institutional clients, according to a Feb. 20 announcement by the firm.
This...
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The Department of Labor (DOL) has gone to court to protect retirement plan assets in a case of alleged embezzlement by a TPA.
The DOL says that an emergency temporary restraining order (TRO) has been issued by the U.S. District Court for the Western District of Pennsylvania against RiversEdge...
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The solution to the coverage gap lies through small business—but only about a third have been approached in the past year about offering one, according to a new survey.
That’s not exactly a new revelation—any number of surveys and government data throughout the years indicates that the vast...
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