Results for "403(b) plans"

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Fidelity, American Century adopting new TDF fee tactic as cost pressures grow

July 5, 2017

Two of the largest managers of target-date-fund assets, Fidelity Investments and American Century Investments, are changing how they assess fees in the multi-asset funds, at a time of heightened cost scrutiny and as TDFs capture an increasing...

Connecticut governor signs bill to improve 403(b) plan fee transparency

June 30, 2017

Retirement plan providers servicing some 403(b) plans in Connecticut will be required to disclose investment fees and compensation paid to those giving participant investment advice, courtesy of a new law signed by the state's governor this...

Use of multiple record keepers could hurt defendants in 403(b) lawsuits

May 19, 2017

Judges in lawsuits targeting the Duke University and Emory University retirement plans have given life to a novel claim against the universities' use of multiple record keepers, setting the stage for a potential legal blow to a common practice...

401(k) managed account competition heats up as Fidelity expands reach

May 17, 2017

Fidelity Investments, the largest provider of defined contribution plans, is moving to expand the reach of its fiduciary managed-account service for retirement plan participants by making it available to record-keeping platforms outside of its...

In K-12 403(b) plans, employees and their unions can be their own worst enemy

April 20, 2017

Defined contribution plans for public school teachers are notoriously poor retirement plans, often described as a Wild West of sorts that's plagued by minimal plan oversight, subpar investment options, and fund and insurance brokers who are...

What will be the next big thing for 401(k) plans?

April 13, 2017

Defined contribution plans have been around for about four decades, and have been popular with small and mid-sized companies for about 25 years. The evolution of 401(k) plans and 403(b) plans over that time, during which they became a replacement...

Top 10 record keepers of defined contribution plans

April 13, 2017

The largest defined-contribution-plan record keepers all experienced positive asset growth last year, according to Pensions & Investments' annual record keeper survey. Bank of America Merrill Lynch, the No. 7 service provider by assets, had...

401(k) plan sponsors want financial advisers to better know their businesses

March 21, 2017

Employers sponsoring 401(k) plans want advisers to challenge their assumptions and commit to knowing their specific company and their industry, a panel of plan sponsors said Monday at the National Association of Plan Advisors annual conference...

Funds with revenue-sharing fees can be cheapest option in 401(k) plans

February 14, 2017

The use of mutual funds with revenue-sharing fees in retirement plans has come under fire due to a push toward 401(k) fee transparency and an increase in excessive-fee litigation, which often attacks the practice due to cost concerns. But revenue-sharing...

Blackstone acquisition of Aon Hewitt could signal push by private equity into 401(k) plans

February 13, 2017

Amid the flurry of consolidation activity among defined-contribution-plan record keepers over the past few years, Blackstone Group's acquisition of Aon Hewitt's record-keeping business, announced Friday, stands as an outlier. Whereas high-profile...

Why retirement plan advisers should care about the HSA market

January 11, 2017

Why should retirement plan advisers care about health savings accounts? The short answer: The HSA market is growing and there is a void in education and advice, which retirement plan advisers are perfectly positioned to fill. The money in HSAs...

Outlook for 2017 retirement plan litigation

January 3, 2017

2016 saw an uptick in litigation targeting retirement plan fiduciaries, and 2017 will see more of the same, plus the resolution of the definition of a church plan with respect to organizations affiliated with churches, and more cases involving...

Obama administration shows more support for annuities in 401(k) plans

January 3, 2017

In its most recent show of support for lifetime income products in defined-contribution plans, the Obama administration has said it may be “prudent” in particular circumstances to default participants into target date funds that bundle in...

How 401(k) advisers can make financial wellness programs more effective

December 28, 2016

Financial wellness has become a buzzy topic in the realm of defined contribution plans. Employer interest in improving their employees' financial well-being is growing. And with retirement savings inevitably bound to an employee's finances,...

Three ways 401(k) advisers can demonstrate their value to clients

December 9, 2016

If you're a financial adviser with a narrow focus on retirement plans, you're a rare breed — sort of like the spotted Jaguar shark from the movie “The Life Aquatic.” This breed of advisers needs to get serious about how clients will judge...

DOL fiduciary rule won't help some 403(b) retirement plans

October 21, 2016

Through its fiduciary rule, the Department of Labor is attempting to rein in conflicted investment advice and reduce costs for retirement savers. However, there's a corner of the retirement market plagued by the sort of high fees and sales practices...

Attorney Jerry Schlichter opens up about 403(b), 401(k) suits

August 18, 2016

By now, Jerry Schlichter is practically a household name among those in the retirement industry. Mr. Schlichter, the founding and managing partner of St. Louis-based law firm Schlichter Bogard & Denton, owes this fame — or notoriety, depending...

Duke, Johns Hopkins, UPenn and Vanderbilt latest schools under fire for excessive 403(b) fees

August 11, 2016

It's been two days since Yale, MIT and NYU were sued for excessive fees in their retirement plans, and lawyers have already added four more to the pile: Duke University, Johns Hopkins University, the University of Pennsylvania and Vanderbilt...

Yale, MIT and NYU targeted in excessive-fee lawsuits concerning retirement plans

August 9, 2016

A trio of renowned universities — Yale University, New York University and the Massachusetts Institute of Technology — were sued on Tuesday over allegations that their defined-contribution plans charged employees excessive plan fees, leading...

When it comes to asset management, look for experience

August 3, 2016

In the midst of this heated and unorthodox presidential election year, the issue of experience is front and center. But, it turns out, experience is also a factor that should be considered when it comes to financial advice and asset management....

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