The proposal seeks to clarify that ESG factors can be financially material. It also specifies that such investments can be used as part of the default investment options in 401(k)s.
The financial services firms that people identified as their main source of retirement advice tended to be those with the biggest 'share of wallet,' consumer research firm Hearts & Wallets found.
Saumen Chattopadhyay fills a role that had been vacant since former OneDigital CIO Jamie Battmer left the company in March.
The biggest players are getting bigger, with the top four increasing their share of the health savings account market from 56% to 60%, according to a recent report by Morningstar Inc.
The company recently received summary judgment in the case filed against it. Another company, Wesco Distribution, won a motion to dismiss in a separate case, and tech firm PTC appears to have reached a settlement in another.
The retirement plan sponsors that have signed on for the new service, which mixes target-date funds and annuities, collectively represent more than $7.5 billion in plan assets.
A report from the Urban Institute found Social Security cuts, tax increases, longer working years and higher savings levels are needed to keep retirees from funding crises in the coming years.
RetireOne's contingent deferred annuity for the registered investment adviser market includes about 200 mutual funds, ETFs and model portfolios.
In other cases, claims have been dismissed against several plan sponsors, including Prudential and Eversource Energy.
About 70% of people surveyed said they would choose a job with that feature over a similar one without it, according to a survey by TIAA.
