Results for "defined contribution plans"

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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...

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...

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...

President Trump signs resolution to effectively kill city auto-IRA rule

April 13, 2017

President Donald J. Trump on Thursday signed into law a resolution that nullifies Obama-era retirement rules meant to encourage cities and other municipalities to develop auto-IRA programs for private-sector workers. The resolution, H.J. Res....

Retirement plan advisers should bone up on lifetime income

April 11, 2017

The continuing demise of defined benefit plans and increasing concern about the future of Social Security have dramatically reduced the certainty of retirement income for most Americans. Guaranteed income options in defined-contribution plans...

More 401(k) advisers face litigation risk in June under DOL fiduciary rule

April 11, 2017

A greater number of advisers and firms servicing 401(k) plans and their participants could be at risk of litigation in a few months' time, when implementation of some provisions of the Labor Department's fiduciary rule are set to kick in. This...

Advisers should heed fiduciary principles in ongoing Tibble 401(k) suit

April 11, 2017

At the end of last year, Glenn Tibble's long-standing claim against Edison International regarding excessive 401(k) fees was given an opportunity to continue by the U.S. Circuit Court of Appeals for the Ninth Circuit. The primary issue in that...

BlackRock sued for alleged self-dealing in its 401(k) plan

April 10, 2017

BlackRock Inc., the world's largest asset manager, is being sued by a former employee for self-dealing in the company's 401(k) plan, the latest excessive-fee case involving an asset manager offering proprietary investment funds to retirement...

3(38) vs. 3(21) investment fiduciary services: the pros and cons for 401(k) advisers

April 7, 2017

As lawsuits targeting 401(k) plan sponsors have proliferated and buzz around the Department of Labor's fiduciary rule continues building, demand for investment fiduciary services has grown among employers, and advisers have evolved to meet the...

Senate, House introduce bills mandating lifetime income disclosures for 401(k) plans

April 6, 2017

Bipartisan legislation was introduced today in the Senate and House of Representatives that would require employers to provide 401(k) participants with a projection of monthly income at retirement, based on their current account balance. Johnny...

Judge in Putnam 401(k) suit deals potential setback to plaintiffs using Vanguard as fee benchmark

April 6, 2017

A federal judge has seemingly dealt a blow to plaintiffs bringing claims against financial services companies for excessive retirement plan fees, following a recent ruling in a self-dealing lawsuit involving Putnam Investments' 401(k) plan....

Fidelity follows Empower in launching TDF-managed account hybrid

March 31, 2017

Fidelity Investments, the largest retirement plan record keeper, has introduced a new service for defined contribution plans that would allow employers to default employees into either a target date fund or a managed account. Record keepers,...

Senate votes to kill city auto-IRA rules

March 30, 2017

The Senate voted Thursday to kill Obama-era retirement rules meant to promote the creation of so-called auto-IRAs for municipalities such as cities and counties. The chamber voted 50-49 in favor of a resolution of disapproval, H.J. Res 67, to...

Pooled employer plans set to dominate small 401(k) market

March 29, 2017

Market forces are in place for the so-called pooled employer plan (PEP for short) to proliferate, and legislation with bipartisan support is lined up to make them a reality. So what's driving the move to PEPs, a type of open multiple employer...

Record keeper Empower jumps into HSA market, as Fidelity expands

March 28, 2017

Two of the largest retirement plan record keepers, Empower Retirement and Fidelity Investments, are growing their health-savings-account businesses, at a time when such accounts are becoming more popular and providers are feeling the pressure...

Merrill Lynch and Morgan Stanley: A tale of two fiduciary 401(k) business models

March 24, 2017

The wealth management units at Merrill Lynch and Morgan Stanley within the past few weeks announced substantive changes to their respective 401(k) businesses, and while each approach shares common ground they also differ in notable ways. Where...

Faltering congressional support for auto-IRAs leaves legislation up to states

March 19, 2017

Our private pension system has accomplished a great deal. Employer-sponsored plans provide meaningful benefits to tens of millions of middle-income working families, supplementing Social Security, and have accumulated the largest pool of investment...

Some active target-date fund managers shine as passive management continues 401(k) onslaught

March 16, 2017

While passive management continued its steady climb in the target-date fund market, a few asset managers with actively-managed TDFs managed to outshine their indexing counterparts in 2016. Target-date fund assets held by passive managers, led...

Small-market retirement plan advisers face big-time challenges

March 16, 2017

Once upon a time, defined contribution plans seemed to be "set it and forget it" tools for plan participants. Organizations would decide to offer a vehicle for retirement savings and put the plan in place for employees to defer money. From that...

How to service small retirement plans and still make a profit

March 15, 2017

Small 401(k) plans — those with less than roughly $10 million in assets — need the most help from a fiduciary plan adviser, and yet this is the market that's most underserved. That's partly because fiduciary advisers traditionally working...

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