Results for "retirement plan advisers"

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Shift to Roth 401(k)s 'highly likely' part of tax reform: former Treasury official Mark Iwry

October 19, 2017

Optimism from past weeks regarding the fate of 401(k) tax benefits under tax reform is beginning to wane, with some signaling that employees would have to pay taxes upfront on at least a portion of their retirement savings. Mark Iwry, a non-resident...

Prudential wins appeal of 401(k) fee lawsuit

October 12, 2017

Prudential Financial Inc. has again won a lawsuit alleging it breached its fiduciary duties by receiving revenue-sharing payments from investment options in a client's 401(k) plan. The lawsuit, Rosen v. Prudential Retirement Insurance and Annuity...

What can Tabasco sauce teach advisers about 401(k) loans?

October 11, 2017

As plan advisers, our guidance might help increase a plan's overall participation and average deferral rate, but there is little we can do to help people when they're confronted with a large, unanticipated expense. For some, this means dipping...

401(k) referrals rare from wealth managers despite DOL fiduciary rule

October 11, 2017

Conventional wisdom is that the Department of Labor's conflict-of-interest rule would result in a flood of referrals from wealth management advisers and other less-specialized retirement plan advisers to retirement-plan specialists. Beware of...

Thank Richard Thaler for that bigger nest egg

October 10, 2017

If you have a 401(k) plan at work, there's a good chance that you're saving more for retirement because of Richard Thaler. The Nobel Prize for economics tries to recognize important research with far-ranging consequences — but Thaler, awarded...

A primer on stable value funds for retirement plan advisers

October 9, 2017

Retirement plan advisers should not set and forget stable value funds. These funds can be an excellent supporting character in a diversified global portfolio for the right defined-contribution-plan clients. But good advisers take nothing for...

DOL fiduciary rule ups ante for monitoring of 401(k) record keepers

October 4, 2017

The Department of Labor fiduciary rule is changing how retirement plan advisers help their clients monitor record-keeping firms such as Fidelity Investments and Empower Retirement. The regulation, which raises investment-advice standards in...

Private equity firms see hidden value in 401(k) record keeping

September 28, 2017

Sometimes when enough people say the same thing, it becomes the conventional wisdom. That doesn't necessarily make it true. Most 401(k) industry experts claim there isn't money to be made in the record-keeping business. But some heady private...

Tax reform anomaly could diminish some companies' need for 401(k) plan

September 28, 2017

The Republican tax-reform framework released Wednesday has led to concern within some retirement industry circles that plan creation and maintenance — and plan advisers' businesses — would be negatively impacted by its policy details. The...

401(k) lawsuit attacks excessive advisory fees paid to UBS

September 26, 2017

A company sponsoring a $157 million 401(k) plan has been sued for allowing unreasonably high fees to be charged for plan services, including advisory services provided by UBS. The lawsuit in question alleges the 401(k) plan sponsor, Novitex...

Jerry Schlichter's fee lawsuits have left an indelible mark on the 401(k) industry

September 23, 2017

At first glance, Sept. 11, 2006, may not stand out as a remarkable date in American history. But to retirement wonks, it is: That's the day a personal injury lawyer from St. Louis filed a flurry of lawsuits against major corporations, alleging...

University of Pennsylvania wins retirement plan suit

September 22, 2017

A lawsuit challening the fees and investments options offered in the retirement plan sponsored by The University of Pennsylvania has been dismissed by the U.S. District Court for the Eastern District of Pennsylvania, according to Bloomberg BNA....

How plan advisers can ease stress about retirement readiness

September 19, 2017

According to a recent retirement confidence study conducted by the Employee Benefit Research Institute, American workers are stressed about their inability to retire, but few are doing anything about it. For retirement plan advisers, this is...

Retirement plan advisers need to start marketing to providers

September 13, 2017

Defined-contribution-plan plan advisers are relying more and more on providers, especially asset managers, to help them with marketing and practice management. But resources are shrinking as margins get thinner, with more assets moving into...

Fiduciary liability defenses for advisers under ERISA

September 12, 2017

If an investment adviser makes a recommendation to a retirement plan sponsor or investment manager, who then follows that recommendation and later challenges it as a breach of fiduciary duty, there are several types of defenses available to...

Voya sued by participant in $2.8 million plan for excessive 401(k) fees

September 12, 2017

Voya Financial has been sued by a participant in a roughly $3 million 401(k) plan for charging allegedly excessive fees for record keeping and administration services, adding to an emerging trend of retirement-plan-fee lawsuits materializing...

Edison International agrees to pay $13.2 million in 401(k) fee lawsuit

September 8, 2017

Parties in the landmark Tibble v. Edison lawsuit have agreed the defendant, Edison International, will pay more than $13 million in damages to cover allegations of excessive 401(k) fees. After 10 years of litigation, which included a trip to...

10 things advisers would change about 401(k) plans

September 5, 2017

401(k) plans have amassed a great deal of money — around $5 trillion — in the four decades since their debut in the federal tax code. But retirement plan advisers believe there are several areas for improvement in 401(k) plans, from required...

Where 401(k) advisers are on the industry consolidation curve

September 2, 2017

In their seminal 2002 Harvard Business Review article "The Consolidation Curve," A.T. Kearney consultants Graeme K. Deans, Fritz Kroeger and Stefan Zeisel outline the four stages of consolidation most industries will go through as they mature...

Where states stand with their retirement plans

September 2, 2017

(Hover over to view details) Source: Georgetown University Center for Retirement Initiatives. Data as of August 2017. *Massachusetts' prototype plan is similar to a multiple employer plan, but the degree of state involvement is less

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