Results for "defined contribution plans"

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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...

Morgan Stanley eliminating commissions, finder's fees in 401(k) plans

March 24, 2017

Morgan Stanley Wealth Management is eliminating commission payments and finder's fees for its advisers servicing 401(k) plans, shifting entirely to a level compensation arrangement based on plan assets, according to a source with knowledge of...

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...

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...

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...

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...

Will the DOL fiduciary rule kill 401(k) plan referrals?

March 15, 2017

Experienced defined contribution plan advisers are excited about the potential flood of referrals from less-experienced plan advisers not interested in acting as a 401(k) plan fiduciary when the DOL fiduciary rule kicks in. Many less-experienced...

Merrill Lynch outlines plans for its 401(k) fiduciary platform

March 15, 2017

Merrill Lynch Wealth Management outlined plans Wednesday to transition its defined-contribution-plan business over to a fiduciary model, coming several months after the firm announced similar plans for its retail retirement business and as the...

The Department of Labor's fiduciary rule: Where are we now?

March 14, 2017

The Trump administration has issued a proposed regulation to delay the applicability date of the Department of Labor's fiduciary rule. That will almost certainly be followed by a final rule that delays the date until June 9, 2017. During that...

Morgan Stanley debuts fiduciary product for small 401(k) plans, with eye toward DOL rule

March 9, 2017

Morgan Stanley Wealth Management is making a push into the small 401(k) marketplace, debuting a fiduciary product exclusively available to its advisers and offering a risk-controlled way to continue servicing those plans when the Department...

401(k) advisers, take heed of guidance on hardship withdrawals for clients

March 8, 2017

In recent months, the Internal Revenue Service has provided guidance with respect to hardship withdrawals from tax-qualified retirement plans. Forewarned is forearmed, and in light of this recent series of guidance on possible errors in administering...

Fidelity, Empower and T. Rowe take three different approaches to the DOL fiduciary rule

March 7, 2017

The Department of Labor's fiduciary rule is leading record keepers of 401(k) plans to adopt wildly divergent compliance strategies. Take Fidelity Investments, Empower Retirement and T. Rowe Price, three of the largest defined-contribution-plan...

Senate moves to kill DOL's state, city auto-IRA rules

March 6, 2017

The Senate has moved to kill Obama-era retirement rules governing so-called auto-IRAs for states and cities, following similar action taken up in the House of Representatives in recent weeks. Sen. Orrin Hatch, R-Utah, introduced two separate...

How retirement plan advisers can create the ideal practice

March 2, 2017

Experienced and successful plan advisers working with defined-contribution plans like 401(k)s or 403(b)s are focused on improving outcomes for the employees of plan sponsors. The easy way is through the "ideal plan," which incorporates features...

IRS guidance on 401(k) hardship withdrawals clarifies uncertain terrain

March 1, 2017

The Internal Revenue Service has issued guidance around hardship withdrawals from 401(k) plans that clarify what some observers call otherwise murky rules on hardship distributions. The guidance came in the form of a memo to IRS employees who...

Empower telling 401(k) clients it won't be a fiduciary when DOL rule kicks in

February 28, 2017

Empower Retirement, one of the largest record keepers of defined contribution plans in the U.S., is planning to send notices to its retirement plan clients affirming it does not intend to be a plan fiduciary if and when the Labor Department's...

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...

Congress seeks to kill DOL rules on state, city auto-IRA programs

February 8, 2017

Republicans are trying to take more Obama-era retirement regulations off the books, their most recent target being Labor Department rules promoting the establishment of auto-IRA programs by cities and states. Two House Republicans introduced...

Trump executive order may prevent guidance on employee benefits issues

February 7, 2017

For employee benefits practitioners, the key takeaway from a recent Trump administration executive order on reducing regulations and controlling regulatory costs is this: “For every one new regulation issued, two prior regulations must be...

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