Results for "defined contribution plans"

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Rand Paul bill would allow withdrawals from retirement accounts to pay down student loans

December 5, 2019

Money accumulating in retirement accounts is increasingly being targeted by lawmakers to help people pay for other expenses, a trend that worries experts who say the funds should be left alone to address the looming challenge of retirement security....

Supreme Court hears ERISA case against Intel

December 5, 2019

The U.S. Supreme Court heard oral arguments Wednesday in a case that could have significant repercussions for retirement plan sponsors by expanding the time that plan participants have to bring lawsuits. Former Intel Corp. engineer Christopher...

Why retirement plan advisers should act as 3(38) investment fiduciaries

December 5, 2019

A year ago, we reviewed 3(21) versus 3(38) ERISA investment fiduciaries and asked which was better. Now it seems clear that 3(38) is better, at least for advisers, and that rather than charge more or the same for acting as a 3(21) fiduciary,...

How advisers can help prevent elder bankruptcy

December 5, 2019

Our golden years should be filled with happiness and leisure, not anxiety and financial hardship. Sadly, the number of elderly Americans filing for bankruptcy relief has increased dramatically over the past three decades. More than one-tenth...

DOL digital 401(k) rule not digital enough, industry says

November 25, 2019

The Department of Labor's proposal to encourage broader use of digital disclosures for 401(k) participants isn't digital enough, according to industry firms and trade groups. Specifically, these stakeholders said that the DOL's proposed rule...

Advisers who overlook retirement income may face stiff competition

November 21, 2019

In May of this year, the House of Representatives passed a piece of bipartisan legislation — the SECURE Act — which, if enacted, would represent a major step forward in expanding access to guaranteed lifetime solutions for American workers....

Charles Schwab to launch TDF-managed account hybrid for 401(k)s

November 8, 2019

Charles Schwab & Co. plans to roll out a service for 401(k) participants next year that's a hybrid of a target-date fund and a managed-account advice service, following in the footsteps of a handful of prominent retirement-plan record keepers...

SEC calls out conflicts of interest in TDFs

November 7, 2019

The Securities and Exchange Commission took aim at conflicts of interest in target-date funds on Thursday, calling out a fund structure that holds the majority of 401(k) investors' assets. The agency's Office of Compliance Inspections and Examinations...

Elizabeth Warren health care plan sparks outcry over 401(k) tax hike

November 4, 2019

Presidential hopeful Elizabeth Warren would partially fund her Medicare for All health care proposal — a key part of her campaign platform — through 401(k) savers, sparking a backlash from both industry trade groups and financial advisers....

Goldman Sachs sued for 'unlawful' 401(k) management

October 29, 2019

Goldman Sachs has been sued for the alleged "unlawful" management of its company 401(k) plan related to the plan's use of in-house actively managed mutual funds, which the lawsuit says provided the firm with a financial benefit at the expense...

SEC reportedly probing AIG sales practices for retirement products

October 29, 2019

American International Group Inc. shares slumped Tuesday amid a report that the Securities and Exchange Commission is probing sales practices for retirement products at a unit that handles plans for school districts and universities. The stock...

Is the 401(k) adviser M&A market about to cool down?

October 23, 2019

Is this the end of the beginning or the beginning of the end? The retirement plan adviser mergers and acquisitions market is on fire, with some deals reaching 12 to 14 times earnings before interest, taxes, depreciation and amortization, known...

DOL proposes rule on digital 401(k) disclosures

October 22, 2019

The Department of Labor proposed a rule Tuesday that's meant to encourage more employers to issue retirement plan disclosures electronically to plan participants. The rule would allow sponsors of 401(k)s and other defined-contribution plans...

Millennium Trust introduces retirement savings suite for small businesses

October 11, 2019

Millennium Trust Co. has a new suite of affordable benefits and retirement tools that small business owners can offer in lieu of a traditional 401(k). Employers can use Workplace Savings Solutions to choose from a variety of types of individual...

Morgan Stanley wins 401(k) lawsuit over use of in-house and BlackRock funds

October 10, 2019

Morgan Stanley has won a lawsuit alleging that it included high-cost, underperforming in-house and BlackRock investment funds in its company 401(k) plan, costing its employees millions of dollars in lost retirement savings. Plaintiffs originally...

Why 401(k) advisers should pay attention to Ascensus' TPA buying spree

October 8, 2019

The retirement plan third-party administrator is the definition of a dispersed cottage industry, with over 3,000 practitioners, that seems ripe for consolidation. Many have tried. None have succeeded. But Ascensus' FuturePlan, led by industry...

SEC probing compensation, sales practices in 403(b) plans for school districts

October 8, 2019

The Securities and Exchange Commission appears to be launching a broad investigation of compensation and sales practices in defined-contribution plans for school districts, an atypical move that targets a segment of the market frequently lambasted...

Factors to consider before taking a pension buyout

October 7, 2019

General Electric is the latest company to offer a pension buyout to former employees as it tries to shore up its pension plans, which were $27 billion underfunded as of year-end 2018. The company is offering lump-sum payments to 100,000 former...

401(k) lawsuits get more complex

October 2, 2019

Lawsuits targeting 401(k) plan sponsors increasingly involve issues that are complex and granular. It's a trend that's likely to continue as such litigation proliferates and one that some advisers and attorneys fear may leave employers paralyzed...

New rules make it easier to access 401(k) funds

September 30, 2019

Final rules issued recently by federal regulators make it easier for 401(k) participants to withdraw their retirement savings early in the event of a hardship, which could have the effect of increasing so-called leakage from workplace retirement...

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