Results for "defined contribution plans"

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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...

Bad news for advisers offering financial wellness programs

October 9, 2019

There's bad news for financial advisers offering financial wellness services to employers and their workers: Advisers are at a competitive disadvantage to other vendors, like 401(k) providers and health insurers. That largely stems from positioning...

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...

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...

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...

Voya retirement chief talks M&A, fee pressure and emerging 401(k) fraud

September 27, 2019

Charles Nelson, chief executive of retirement and employee benefits at Voya Financial Inc., oversees one of the largest defined-contribution plan record-keeping businesses in the U.S., administering $304 billion in retirement assets as of June...

The 401(k)-HSA savings rule of thumb works, until it doesn't

September 26, 2019

The rule of thumb for helping employees choose how to allocate workplace savings between a 401(k) account and a health savings account is relatively straightforward: Save up to the percentage of the employer's 401(k) match to take advantage...

How financial advisers can serve the gig economy

September 25, 2019

Millennials are now the largest generation in the U.S. workforce. Constituting just over one-third, a considerable number of this cohort are working as independents rather than as employees. Their work life, unlike the experience of their parents,...

Top 10 fiduciary misconceptions among 401(k) plan sponsors

September 25, 2019

The level of confusion about ERISA fiduciary liability among employers that sponsor defined-contribution plans with less than $250 million in assets cannot be overstated. That's not judgmental — it's just reality. It's not surprising that...

Edelman Financial Engines is bringing financial planners to small 401(k) plans

September 20, 2019

Edelman Financial Engines is bringing financial planning to participants in small 401(k) plans over the next six months as the advisory firm emerges from its recent integration and seeks to expand distribution. The firm will leverage a recently...

Trump administration wants to kill California's auto-IRA program

September 18, 2019

The Trump administration is trying to upend California's auto-IRA program, CalSavers, with the intent of halting an initiative among other states that would force employers to offer employees workplace retirement savings plans. The U.S. Department...

MIT settles class-action suit that snared Fidelity's Abigail Johnson

September 13, 2019

The Massachusetts Institute of Technology has reached a settlement agreement in a class-action lawsuit that alleged a quid pro quo arrangement with Fidelity Investments related to the university's 401(k) program. The agreement comes just days...

What's driving value in the booming 401(k) adviser M&A market?

September 12, 2019

When asked what drives value for retirement plan practices, Dick Darian, CEO of consulting firm Wise Rhino Group, replied: "Financials, financials, financials." "Like location with real estate, free cash flow or EBITDA has the greatest impact...

Morgan Stanley adding 401(k) participant services to boost wealth business

September 12, 2019

Morgan Stanley Wealth Management is adding more services for 401(k) participants and other workplace clientele as part of a plan to leverage its workplace access to grow its wealth business. The wirehouse brokerage, which has roughly 15,600...

Hub to buy $40 billion LPL branch Global Retirement Partners

September 12, 2019

Insurance brokerage Hub International has reached an agreement to buy Global Retirement Partners, a $40.1 billion registered investment adviser that serves as LPL Financial's largest retirement-focused branch. Global Retirement Partners, headquartered...

Monitoring 401(k) cross-selling may be next frontier for advisers

September 10, 2019

Trends and developments in the 401(k) market often migrate over to 403(b) plans. Examples include automatic enrollment, which is increasingly popular with plan sponsors, and litigation against plan fiduciaries, which is less popular). Sometimes...

Abigail Johnson of Fidelity reaches deal to avoid testifying at 401(k) trial

September 6, 2019

Abigail Johnson, chairman and chief executive of Fidelity Investments, will not have to testify at an upcoming trial regarding the Massachusetts Institute of Technology 401(k) plan, marking a stark de-escalation of tensions that had flared in...

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