Michael Domingos, the firm's head of sales and strategic relations, has been at Prudential for 28 years and was appointed to his current role in 2019. The news comes several months after a report that Prudential was considering a sale of its retirement business.
An academic study posted this month on the Social Science Research Network found that about $790 million in IRA assets were in limbo in 2017, with account owners 72½ and older failing to take RMDs.
Dalbar rates 401(k)s with up to five stars and tells plan sponsors what they can do to improve their plans on the basis of environmental, social and governance criteria.
The deal with Financial Independence Group gives all of Carson’s advisers access to the same list of company-vetted products, including annuities, life insurance, long-term care insurance and disability insurance.
The new class-action suits against the three employers allege fiduciary breaches. Two defendants in other cases recently reached settlements over $1 million.
Tax-rate changes have minimal effect on the financial benefits of Roth conversions, Edward McQuarrie, professor emeritus at Santa Clara University, wrote in a recent paper. The most important factor is actually compounding.
The stretch strategy, which allowed beneficiaries to spend down inherited traditional IRA assets over the rest of their lives, all but disappeared with the passage in 2019 of the SECURE Act.
Under the bill, businesses in the state that have been operating for at least two years and have at least 10 employees would be required to participate. The state passed legislation in 2018 to establish a voluntary IRA system for the private sector, but it has yet to implement that program.
The service gives 401(k) participants access to 50 different cryptocurrencies that they can buy, trade or sell, according to the 401(k) provider ForUsAll.
Edelman will stay on as a strategic adviser, a board member and the firm’s largest individual shareholder. Currently, he serves as the firm's chairman of financial education and client experience.
