Results for "defined contribution plans"

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Lessons 401(k) advisers learned from the DOL fiduciary rule saga

June 21, 2018

Retirement plan advisers, especially specialists, used to complain that their broker-dealers and the public ignored them — or, worse, didn't realize they existed. All that has changed now that retirement has become a key political issue and...

Opaque, outdated 401(k) plan disclosures harming investors, advisers

June 20, 2018

Opaque and outdated 401(k) plan disclosures are harming investors and financial advisers trying to gauge whether rolling money out of a workplace retirement plan is in the client's best interest, Morningstar Inc. argues in a new report. The...

401(k) fund fees continue to fall

June 19, 2018

Fees for equity, hybrid and bond mutual funds held in 401(k) plans continued their long-term decline in 2017, according to a new report published by the Investment Company Institute, a trade group representing fund managers. The average asset-weighted...

DOL fiduciary rule on brink of death as key deadline passes

June 14, 2018

The Department of Labor fiduciary rule is teetering on the brink of death after the Justice Department, which was defending the rule in court, appears to have let a key deadline pass to keep the case alive. On March 15, the 5th Circuit Court...

Labor Department partners with two life insurers on abandoned plans

June 13, 2018

A previous version of this story incorrectly stated that the Labor Department was going to work with the two insurers to find missing retirement plan participants. The Department of Labor will work with Metropolitan Life Insurance Co. and Brighthouse...

SEC rule proposal doesn't include 401(k) sponsors in 'best interest' advice

June 13, 2018

The Securities and Exchange Commission is trying to bridge the gap in investment advice standards for brokers and financial advisers, but the rift remains wide in one particular area: advice to 401(k) plan sponsors. The SEC proposed Regulation...

LPL in talks to sell 401(k) rollover platform to Global Retirement Partners

June 12, 2018

LPL Financial is in talks to sell Worksite Financial Solutions, a platform that helps advisers service 401(k) rollovers, to Global Retirement Partners, the largest retirement-focused advisory firm in LPL's network. LPL, the largest independent...

SEC best-interest proposal doesn't affect 401(k) brokers

June 12, 2018

When it comes to big news, it doesn't get much bigger than the last few months. First, the 5th Circuit Court of Appeals threw out the Department of Labor fiduciary rule; then a month later, the Securities and Exchange Commission issued its best-interest...

How advisers can navigate ESG investing in 401(k) plans

June 11, 2018

Despite three attempts in the last four years by the Department of Labor to clarify if, when and how environmental, social and governance (ESG) factors can be used in the investment due-diligence process for retirement plans, advisers are still...

Should 401(k) advisers limit their roster of record keepers?

June 11, 2018

All retirement plan advisers face an important and lingering question: How many record keepers should I work with? There are clear advantages to having a short roster of "preferred" or "approved" record-keeper partners, such as ease, efficiency...

Defined-contribution plan loan and hardship distribution rules eased

June 8, 2018

401(k)s are for retirement, but some clients who are strapped for cash need access now for any number of reasons. Advisers can help by knowing the latest tax rules. Defined-contribution plans can offer loans and hardship distributions. While...

Why 401(k) advisers should heed TPA consolidation

June 6, 2018

Third-party administrators have been in the spotlight following a string of recent acquisitions, and retirement plan advisers should take note. TPAs, which provide administrative services to defined-contribution plans, have been getting more...

401(k) advisers, is your value proposition even valuable?

June 6, 2018

If you talk to any marketing consultant, one of the top things they bring up is having a value proposition. This is commonly known as your "elevator pitch." Basically, if you're at a cocktail party, how do you describe what you do to people?...

Vanguard: More than half of 401(k) participants invest solely in target-date funds

June 5, 2018

Participants in defined contribution plans are relying more on professionally managed investment options, especially target-date funds, Vanguard Group reported Tuesday. The portion of participants investing in these options climbed to 58% last...

Allianz and Vestwell partner on 401(k) distribution

June 5, 2018

Allianz Life Insurance Co. of North America has forged a sales partnership with Vestwell designed to distribute the 401(k) robo-adviser's services through thousands of independent retirement-plan advisers. Allianz, which offers insurance products...

Invesco sued for 'indiscriminately' loading 401(k) plan with in-house funds

June 4, 2018

Invesco has been sued for allegedly stacking its 401(k) plan with proprietary investments, joining the ranks of more than 20 asset managers who have had to defend against similar claims of mismanagement by employees seeking to claw back lost...

Legg Mason hopes to reverse TDF fortunes with MassMutual deal

May 30, 2018

Legg Mason is making another attempt at breaking into the target-fund market through a partnership with Massachusetts Mutual Life Insurance Co., a move that hints at the challenges asset managers have faced in 401(k) distribution and emerging...

Northwestern University beats Jerry Schlichter 403(b) lawsuit

May 29, 2018

Northwestern University has become the second college to beat back allegations of retirement-plan mismanagement, prevailing in a lawsuit brought by prominent plaintiffs' attorney Jerry Schlichter. The lawsuit, Divane et al v. Northwestern University...

In a first, University of Chicago settles 403(b) lawsuit for $6.5 million

May 24, 2018

The University of Chicago has agreed to settle a retirement-plan lawsuit for $6.5 million, becoming the first of about 20 prominent universities facing allegations over 403(b)-plan mismanagement to take such a step. Plaintiffs filed the lawsuit,...

How 401(k) advisers can increase their fees

May 23, 2018

It seems that the race to the bottom for 401(k) and 403(b) advisory fees will not slow down anytime soon. But some plan advisers have found a way not only to halt the trend, but actually increase fees. The first step advisers can take to maintain...

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