Results for "individual retirement accounts (IRAs)"

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IRS more lenient on 60-day rollover

September 25, 2016

"IRS to the rescue!” is not a phrase you hear too often, but that's exactly what happened for millions of people with retirement accounts. On Aug. 24, the IRS released Revenue Procedure 2016-47, which provides a new and cost-free way for clients...

Grappling with retirement health costs

September 25, 2016

It is fairly well-known that Americans are living longer and that medical costs are climbing. How advisers are dealing with these two trends is less clear. There is a good reason why, in the opening paragraph of his cover story last week, InvestmentNews...

Will the state take your client's IRA? It can

September 16, 2016

Can the state really make off with your client's IRA? Yes! It's called escheatment and states have been using this tactic more aggressively to bring in money. In a recent private letter ruling (PLR 201611028, released by IRS on March 11, 2016),...

State Farm, citing DOL fiduciary rule, cuts agents from mutual fund and variable annuity sales

September 12, 2016

State Farm is changing the way the company and its agents handle some retail retirement accounts in response to a new Labor Department regulation that ups the standard of investment advice retirement savers receive. Beginning in April 2017,...

DOL fiduciary rule could cause half of potential IRA rollover assets to stay put: Report

September 8, 2016

Advisory firms banking on attracting loads of new assets from baby boomers rolling over 401(k) plans into individual retirement accounts may need to come up with a new plan for boosting AUM. The new Labor Department rule mandating that retirement...

DOL issues final rule to help states establish workplace retirement savings programs

August 25, 2016

The Department of Labor released a final regulation Thursday that will make it easier for states to establish their own workplace retirement savings programs. Introduced last November, the rule clarifies that state plans would not be subject...

California poised to pass state retirement savings law

August 23, 2016

California lawmakers are poised to vote any day on a bill that would greatly expand access to workplace retirement plans among small businesses, a measure that has drawn both praise for helping address a perceived savings shortfall and ire from...

Primerica expects to pay $4M-$5M per year to comply with DOL fiduciary rule

August 12, 2016

Primerica Inc. executives estimate the firm will incur ongoing costs between $4 million and $5 million per year to comply with the Labor Department's fiduciary rule, joining a handful of other financial services companies who've publicly said...

DOL fiduciary rule's 'grandfathering' exemption may be lost by changing firms

July 26, 2016

Advisers banking on “grandfathering” pre-existing investments in retirement accounts under the Labor Department's fiduciary rule may not be able to rely on the provision indefinitely. As it turns out, industry executives and regulatory experts...

RMDs can create future tax savings

July 22, 2016

On July 1, the first baby-boomer turned 70½, the first of tens of millions who will become subject to dreaded required minimum distributions, or RMDs, from their individual retirement accounts or company plans. The word “required” is upsetting...

Debt dims boomers' retirement prospects

July 18, 2016

What is the biggest difference between baby boomers' retirement and that of their parents? Many people would say disappearing pensions. But even in the heyday of traditional pensions in 1979, fewer than 40% of U.S. workers were covered by a...

Morningstar, American Retirement Association partner on fiduciary program

July 12, 2016

Morningstar Inc. and the American Retirement Association today announced a partnership on an upcoming fiduciary training program for advisers, to help address compliance concerns raised by a new Labor Department rule and any future regulatory...

Broker-dealers eye level commissions to reduce risk under DOL fiduciary rule

July 11, 2016

Broker-dealer executives are strongly considering a strategy whereby investment products with similar characteristics would have the same commission schedule as a way to reduce risk under a new Labor Department rule that raises investment advice...

Court date set for lawsuit against DOL fiduciary rule

July 7, 2016

A court date has been set for Market Synergy Group Inc.'s lawsuit targeting a Labor Department regulation raising investment advice standards in retirement accounts. A motion hearing is scheduled for Aug. 24 at 1 p.m. before District Judge Daniel...

DOL fiduciary rule gets it half right on the municipal bond market

July 7, 2016

While some modifications have been made, municipal-bond investors are still left in a potentially tight spot with regard to the Department of Labor's fiduciary rule. To its credit, the DOL seems to be listening to feedback with an open mind,...

Radio show host Ric Edelman rants about raging fiduciary battle

June 24, 2016

Seven years after the Treasury Department recommended in a financial reform report that brokers be held to a fiduciary standard, the industry is struggling to come to grips with it. The Securities and Exchange Commission “should be given new...

Indexed annuity distributors weigh launching B-Ds due to DOL fiduciary rule

June 23, 2016

Distribution networks representing independent insurance agents are weighing, and in some cases forging ahead with, plans to launch broker-dealers to continue selling fixed-indexed annuities in retirement accounts under the Labor Department's...

Congressional sit-in disrupted by failed attempt to override veto of anti-DOL fiduciary rule bill

June 23, 2016

The House of Representatives failed Wednesday night to override a presidential veto of a resolution that would kill a Labor Department investment advice regulation. The vote, which occurred around 10:30 p.m., was used by House Republicans to...

Jackson National's new variable annuity hints at annuities' future post-DOL fiduciary rule

June 21, 2016

Annuity behemoth Jackson National Life Insurance Co. is currently developing its first-ever fee-based variable annuity product, offering a hint as to where the annuity market could be headed due to the market shake-up caused by a new Labor Department...

John Oliver's criticism helps fiduciary duty go prime time

June 19, 2016

For the last six years, the debate over a Labor Department regulation to raise investment advice standards for retirement accounts has been conducted mostly among regulators, lawmakers, industry officials and financial advisers. Now the people...

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