Results for "401(k)"

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In rare move, investment adviser named as defendant in NYU retirement plan case

January 16, 2018

In an unusual turn of events, the investment adviser to New York University's retirement plan has been named as a co-defendant in litigation attacking the plan's allegedly excessive fees. Plaintiffs contend the adviser, Cammack LaRhette Advisors,...

Qualified Plan Advisors acquires $4 billion retirement shop

January 9, 2018

Qualified Plan Advisors, an Overland Park, Kan.-based firm focused on defined-contribution plans, has acquired an advisory group overseeing roughly $4 billion in retirement assets, furthering the consolidation trend that's gripped the retirement...

Tax law's pass-through provision could harm 401(k) plans

January 5, 2018

The new tax law's provision on pass-through businesses is proving to be one of the most challenging to dissect, and it's one that some retirement pundits are eyeing with concern. Some industry groups, such as the American Retirement Association,...

Allianz agrees to settle 401(k) fee lawsuit for $12 million

January 2, 2018

Allianz has agreed to pay $12 million to settle a lawsuit alleging it peppered its company 401(k) plan with dozens of high-cost, in-house funds. Participants in the 401(k) plan originally brought the suit, Urakhchin v. Allianz Asset Management...

4 questions to ask before doing a 401(k) plan re-enrollment

December 22, 2017

Having a process to help plan sponsors with 401(k) plan re-enrollments is becoming table stakes for retirement plan advisers. Employers do re-enrollments to make sure plan participants have appropriate asset allocations and savings rates. During...

2018 predictions for 401(k) advisers, distributors and record keepers

December 20, 2017

As we approach the end of 2017 and enter 2018, the adviser-sold 401(k) market begins its next phase of development. No longer an awkward, energetic teenager, the market is entering early adulthood, bringing with it heightened responsibilities,...

Finra says BB&T overcharged retirement plans, charities

December 5, 2017

The Financial Industry Regulatory Authority Inc. has censured BB&T Investment Services for having overcharged retirement plans and charitable organizations in their purchases of mutual funds. The firm accepted the censure without admitting or...

Pension transfers in vogue as expense grows, and companies shift to 401(k) plans

December 5, 2017

Employers are increasingly offloading their pension obligations as plan expenses increase, economic conditions improve and companies continue a pronounced shift toward 401(k) plans. A pension buyout — not to be confused with a lump sum payout...

Two workplace retirement savings bills introduced in House

December 4, 2017

Two bills that would require most employers to offer a defined contribution plan and simplify some retirement savings rules have been introduced in the House by Ways and Means Committee ranking member Richard Neal, D-Mass. The proposed Automatic...

Unions could be 'next frontier' for retirement plan litigation

December 1, 2017

Defined contribution plans for labor unions appear to be the newest target of retirement plan litigation, following the filing of a lawsuit that legal experts say is likely the first to attack a union for excessive fees. The lawsuit, Ybarra...

New RIA aggregator enters 401(k) market

November 30, 2017

Hub International is a neophyte among so-called RIA aggregators focused on the retirement plan market, but it's making a grand entrance that signals competitive heft and further hints at a growing consolidation trend among plan advisers. Aggregators...

Morningstar: Small-employer retirement plans need legislative fixes

November 29, 2017

Two fixes would go a long way toward solving the problems entrenched in the small-retirement-plan market, namely high costs and a wide coverage gap, according to a new policy paper issued by Morningstar. Those tweaks—adopting legislation that...

401(k) managed account push rife with conflicts of interest

November 28, 2017

Record keepers are looking to managed accounts to be their next 401(k) cash cow, but the way some firms are promoting the products to investors is rife with conflicts. Several providers, including Nationwide, Voya Financial and ICMA-RC, offer...

These 401(k) lawsuits show the value of investment policy statements

November 22, 2017

An investment policy statement is essentially the business plan for a portfolio. For 401(k) fiduciaries, the IPS serves as a critical governing document, one that should be carefully crafted, periodically reviewed and updated, and diligently...

CIT interest rising among 401(k) sponsors

November 22, 2017

For over a decade now, pundits have been predicting a mass movement of 401(k) plans away from mutual funds and toward collective investment trusts. Migration numbers have not borne that out — yet. But now, some forecasts suggest the time of...

Do specialized retirement plan advisers even need a broker-dealer?

November 22, 2017

Financial advisers who specialize in the retirement plan market may find themselves considering a break from their broker-dealer. The past several years have seen 401(k) specialists, similar to wealth managers in the retail market, migrate toward...

DOL fiduciary rule limiting DCIO support to plan advisers in unexpected ways

November 21, 2017

The Department of Labor fiduciary rule is pushing more 401(k) plan advisers to a fee-based model, but that shift is leading to an unexpected consequence: dark data. Asset managers, also known as defined contribution investment-only providers,...

Wells Fargo sued, again, for using in-house funds in 401(k) plan

November 21, 2017

Just as Wells Fargo & Co. escaped from the jaws of one 401(k) lawsuit over in-house funds, it's now ensnared in another. In a rare move, a federal judge dismissed a lawsuit against the company in May alleging breach of fiduciary duty for self-dealing,...

Wells Fargo sees big TDF outflows from mutual funds

November 20, 2017

Target-date funds are on track for a near-record year, but Wells Fargo & Co. doesn't seem to be participating in the boom. TDFs have catapulted to popularity over the past decade as 401(k) plan sponsors' preferred default investment, and flows...

403(b) advisers disappointed with TIAA, but say other providers are 'way worse'

November 20, 2017

Financial advisers were surprised to learn of TIAA's alleged shady dealings with retirement savers, but say its practices pale in comparison to some of its peers. Recent reports in The New York Times detailed conflicts of interest in TIAA's...

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