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BY Nevin E. Adams, JD 4/30/2024
A new report provides some interesting insights on 401(k) participants and their behaviors—and reminds of the challenges in tracking trendlines.
The report—aptly titled “401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 2022”—provides a snapshot on the how, and how much 401(k)s...
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BY Ted Godbout 4/30/2024
Fiducient Advisors, an affiliate of NFP, an Aon company, announced that Mike Goss will take over as President of the firm, following the forthcoming retirement of Mark Wetzel.
Wetzel has served as the company’s Managing Partner and President since 2006 and is retiring effective May 3. Goss will...
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BY John Sullivan 4/30/2024
Target date funds (TDF) start off strong only to vary more in investment performance and risk as they approach the specified retirement date, according to the Government Accountability Office (GAO), which asked the Department of Labor (DOL) to do something about it.
The GAO called on the DOL to...
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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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