Results for "401(k)"

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Thank Richard Thaler for that bigger nest egg

October 10, 2017

If you have a 401(k) plan at work, there's a good chance that you're saving more for retirement because of Richard Thaler. The Nobel Prize for economics tries to recognize important research with far-ranging consequences — but Thaler, awarded...

A primer on stable value funds for retirement plan advisers

October 9, 2017

Retirement plan advisers should not set and forget stable value funds. These funds can be an excellent supporting character in a diversified global portfolio for the right defined-contribution-plan clients. But good advisers take nothing for...

DOL fiduciary rule ups ante for monitoring of 401(k) record keepers

October 4, 2017

The Department of Labor fiduciary rule is changing how retirement plan advisers help their clients monitor record-keeping firms such as Fidelity Investments and Empower Retirement. The regulation, which raises investment-advice standards in...

DOL fiduciary rule: Challenges for RIAs under the BICE

September 29, 2017

On Aug. 31, the Department of Labor proposed to extend the applicability date for the full best-interest contract exemption to July 1, 2019. In all likelihood, that proposal will be finalized before the end of the year. With that in mind, what...

Tax reform anomaly could diminish some companies' need for 401(k) plan

September 28, 2017

The Republican tax-reform framework released Wednesday has led to concern within some retirement industry circles that plan creation and maintenance — and plan advisers' businesses — would be negatively impacted by its policy details. The...

Private equity firms see hidden value in 401(k) record keeping

September 28, 2017

Sometimes when enough people say the same thing, it becomes the conventional wisdom. That doesn't necessarily make it true. Most 401(k) industry experts claim there isn't money to be made in the record-keeping business. But some heady private...

General Electric 401(k) participants sue over poor-performing GE Asset Management funds

September 28, 2017

Three participants in General Electric Co.'s 401(k) plan filed a lawsuit against the company, alleging it violated the Employee Retirement Income Security Act of 1974 by breaching its fiduciary duties. The lawsuit, filed in U.S. District Court...

Judge dismisses lawsuit by Wells Fargo 401(k) participants

September 26, 2017

A U.S. District Court judge in Minneapolis dismissed a lawsuit by participants in Wells Fargo's 401(k) plan, saying the plaintiffs failed to demonstrate that plan executives breached their fiduciary duties under the Employee Retirement Income...

401(k) lawsuit attacks excessive advisory fees paid to UBS

September 26, 2017

A company sponsoring a $157 million 401(k) plan has been sued for allowing unreasonably high fees to be charged for plan services, including advisory services provided by UBS. The lawsuit in question alleges the 401(k) plan sponsor, Novitex...

Dividing retirement assets when divorcing abroad

September 25, 2017

The millions of Americans who live and work outside of the United States face unique and challenging planning issues due in large part to their native land's unique tax policies on citizenship-based tax residency and the many special tax and...

Jerry Schlichter's fee lawsuits have left an indelible mark on the 401(k) industry

September 23, 2017

At first glance, Sept. 11, 2006, may not stand out as a remarkable date in American history. But to retirement wonks, it is: That's the day a personal injury lawyer from St. Louis filed a flurry of lawsuits against major corporations, alleging...

Retirement plan advisers need to start marketing to providers

September 13, 2017

Defined-contribution-plan plan advisers are relying more and more on providers, especially asset managers, to help them with marketing and practice management. But resources are shrinking as margins get thinner, with more assets moving into...

Fiduciary liability defenses for advisers under ERISA

September 12, 2017

If an investment adviser makes a recommendation to a retirement plan sponsor or investment manager, who then follows that recommendation and later challenges it as a breach of fiduciary duty, there are several types of defenses available to...

Voya sued by participant in $2.8 million plan for excessive 401(k) fees

September 12, 2017

Voya Financial has been sued by a participant in a roughly $3 million 401(k) plan for charging allegedly excessive fees for record keeping and administration services, adding to an emerging trend of retirement-plan-fee lawsuits materializing...

Fiduciary education is key for plan-sponsor investment committees

September 2, 2017

The word "fiduciary" is no longer quaint financial jargon for most plan sponsors. Due to regulatory changes over the past several years and attention surrounding the new Labor Department conflict-of-interest rule for plan advisers, the term...

How retirement plan advisers can combat 'dramatic' fee compression

September 2, 2017

Retirement plan advisers' fees are getting squeezed. As with other service providers to defined contribution plans, price compression for adviser services has been rapid and deep. Price compression in the retirement plan arena isn't new, but...

Rollins Inc. 401(k) participant sues Morningstar, Prudential over alleged RICO violations

August 31, 2017

A participant in a 401(k) plan of Rollins Inc., Atlanta, sued Morningstar and units of Prudential Financial, alleging they violated a federal racketeering law in offering an investment service to plan members. Rollins plan officials and Rollins...

When automatic enrollment doesn't make sense for 401(k) plans

August 31, 2017

Automatic enrollment has exploded in popularity over the past decade, and is widely seen as a best practice in 401(k) plans to boost participation and employee savings. Adoption by 401(k) plan sponsors has more than doubled since 2006, when...

The 5 biggest threats and opportunities for 401(k) advisers

August 31, 2017

The 401(k) market is maturing. Plan sponsors are waking up, most advisers are now forced to act as fiduciaries and lawsuits are likely to move down market to smaller retirement plans. Broker-dealers are more risk-sensitive due to the Department...

Most plan sponsors like their advisers, but 38% want to switch, says Fidelity

August 30, 2017

While 65% of plan sponsors are highly satisfied with their plan advisers, a record share of sponsors — 38% — are actively looking to switch advisers, up from 30% last year, according to a study of plan sponsors conducted by Fidelity Investments....

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