Robert Steyer
Robert Steyer is a Reporter at Pensions & Investments covering Defined Contribution. He Tweets at: @Steyer_PI
Robert Steyer is a Reporter at Pensions & Investments covering Defined Contribution. He Tweets at: @Steyer_PI
Record keeping is a business that requires companies to continue investing in services and technology.
Defined contribution plan participants who mix strategies “seem to be conducting reasonable investment practices,” according to new research from Vanguard.
Plaintiff argues company “imprudently and disloyally larded the plan with unnecessary, expensive and poorly performing investment products and services.”
Allegations include receiving travel, prostitutes and drugs for steering business to two broker-dealers.
Some are willing to take on more responsibilities in areas such as investment product selection, IRA rollovers and even financial wellness.
The primary reason: TDFs built on institutionally priced mutual fund shares or collective trusts can produce as low or lower fees than ETFs.
Claim alleges Fidelity 'wanted a piece of the action' when Financial Engines was hired to provide plan advice.
Economic modeling shows voluntary enrollment 401(k) plans provided better opportunity for achieving an 80% salary replacement ratio than DB plans for three of four income categories.
The provisional settlement affects 190,000 employees and retirees of Boeing who first brought a case against the company in September 2006.
Pensions & Investments survey finds fund giant still tops in managing retirement assets, followed by Fidelity. BlackRock is gaining ground, helped by target date, index funds.
