Results for "403(b) plans"

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Supreme Court decision likely to prevent brokers from filing class-action lawsuits

May 22, 2018

A Supreme Court decision handed down yesterday will likely curb brokers' ability to band together in lawsuits against broker-dealers to fight perceived wrongdoing in the workplace. In a 5-4 decision, the Supreme Court on Monday ruled that companies...

Oregon auto-IRA success shows national program would 'work well,' advocate says

May 16, 2018

Oregon's auto-IRA program has only been around a few months, but its early success demonstrates a similar framework could work at the national level, a proponent said at a congressional hearing Wednesday. Oregon launched a pilot phase of its...

LPL closing Worksite Financial Solutions 401(k) platform

May 14, 2018

LPL Financial announced that it is closing Worksite Financial Solutions, a program that helps 401(k) participants and advisers with rollovers from retirement plans, at the end of September. Andy Kalbaugh, managing director and divisional president...

Bill Kline out as head of Gallagher's $55 billion retirement-plan aggregator

May 9, 2018

Bill Kline, the head of Arthur J. Gallagher & Co.'s retirement plan consulting unit — which has more than 60 advisers overseeing $55 billion in defined-contribution-plan assets — has left amid a reorganization of his group. Mr. Kline, 53,...

What are the business priorities of elite 401(k) advisers in 2018?

May 9, 2018

The 401(k) advisory business is maturing. Many elite plan advisers with $250 million or more in defined-contribution assets under management have enjoyed great success since the 2008-09 market collapse, as more plan sponsors have focused on...

Judge dismisses parts of Yale 403(b) suit, lets others stand

April 4, 2018

A federal court judge in Hartford, Conn., has dismissed a few complaints in a lawsuit alleging ERISA violations in Yale University's 403(b) plan, while rejecting most of the university's petition that all complaints be thrown out. The split...

Litigation, scale push private colleges to adopt multiple employer plans

April 23, 2018

Pioneers circled their wagons for mutual protection, and a new trend emerging in the 403(b) space employs a roughly similar tactic. Small and independent, nonprofit private colleges — in search of ways to improve the retirement outlook for...

What a court decision teaches 401(k) advisers about choosing stable-value funds

April 19, 2018

In order to reduce their risk of fiduciary liability, 401(k) plan sponsors often seek to offer an investment menu that satisfies the requirements of ERISA Section 404(c), which eliminates the risk associated with investment choices by plan participants....

Are 401(k) advisers the next DOL targets?

April 11, 2018

The Chicago office of the Department of Labor seems to be targeting 401(k) plan advisers and, if one firm's experience is a guide, the office appears to be targeting large regional firms rather than less experienced advisers. Specialized retirement...

Should you use those free tools the 401(k) wholesaler gave you?

March 22, 2018

In the competitive environment surrounding retirement plans nowadays, having any extra advantage is something advisers want and need. The way many retirement plan advisers stand out is by using tools to provide feedback to plan sponsors on a...

Aon Hewitt wins 401(k) lawsuit over robo-adviser kickbacks

March 21, 2018

Aon Hewitt has won a lawsuit alleging that it engaged in a kickback scheme with a 401(k) plan robo-adviser that inflated costs for retirement plan participants. The lawsuit, originally filed in January 2017 on behalf of participants in the Caterpillar...

Fisher Investments growing fast in 401(k) market

April 3, 2018

Fisher Investments, one of the largest registered investment advisers in the country, is rapidly growing its fledgling 401(k) advisory business, which some industry observers see as an emerging threat to retirement plan advisers working with...

Retirement plan advisers ignore content marketing at their peril

March 28, 2018

When I ask retirement plan advisers about their biggest concerns, the most common answer — even in turbulent markets or amid dramatic regulatory changes — is finding new clients. All successful plan advisers have found good ways to prospect,...

How to design a 401(k) plan that's lawsuit-proof

March 6, 2018

Lawsuits targeting 401(k) plans have become commonplace over the past decade. It's no longer much of a surprise to hear that another plan sponsor has been sued over some aspect of its plan design, and speculation is that such legal action will...

LPL loses $1.8 billion retirement group

April 11, 2018

Ingham Retirement Group, a $1.8 billion advisory firm based in Miami, has left LPL Financial. The firm — a national, independent shop that provides retirement plan consulting and record-keeping, actuarial and investment advice services —...

More 401(k) plans move away from revenue-sharing model

March 12, 2018

Many 401(k) plans are moving away from revenue sharing as executives cite the need for greater transparency, simplicity and democracy in how fees are assessed to participants. Defined contribution plan consultants say federal fee regulations...

How low can 401(k) advisory fees go?

February 28, 2018

The race to the bottom is accelerating, and the bottom is nowhere in sight. Even before the regulatory spotlight shone brightly on defined-contribution plan fees as the result of Department of Labor rules promulgated in 2012, many plan sponsors,...

Popular 403(b) resource launching directory of fiduciary advisers

February 26, 2018

A popular resource for participants in 403(b) plans, which are retirement plans for educational institutions, nonprofits and churches, is trying to stop what it sees as abusive sales conduct toward retirement savers by launching a directory...

Some advisers to prosper under final 403(b) rules

August 6, 2007

CHICAGO — The role of financial advisers won’t be diminished by the new 403(b) regulations released late last month, according to industry experts. The regulations, which were issued July 23 by the Department of the Treasury and the Internal...

4 ways to build a 401(k) for baby boomers

February 14, 2018

Retirement plan advisers need to start thinking about how to design 401(k) plans to reflect the increasing numbers of baby boomers in the workforce. There was a nearly 50% jump in people over the age of 75 in the workforce between 1996 and 2016....

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