Among retirement plan participants, about 90% said they are interested in retirement-income products and that having guaranteed income would be a plus, according to a BlackRock survey.
John Hancock and Lowe's are paying millions to settle class-action claims, while a new lawsuit was filed against Northern Trust that rehashes old claims.
The deal adds $6 billion in retirement plan assets under advisement among 200,000 participants to OneDigital’s book. It follows seven other purchases the Atlanta-based company has made so far this year.
The estimate of lost income, due to planning mistakes alone, is separate from actual cuts to benefits, according to a recent academic paper.
Some of the factors that have led to the current low-interest-rate environment could remain in play for years, according to an analysis of existing research recently published by the Society of Actuaries.
Sue Reibel, who joined Hancock’s parent firm in 1994, will be named chief executive of the firm and was most recently the global head of Manulife Investment Management retirement.
Last year, the Department of Labor closed less than a third of the number of cases it did in 2014, but total recoveries were six times higher.
The State Street plan did not include the lowest-cost share classes of the Target Retirement Securities Lending series, and there were some options from third parties with stronger performance records, according to the complaint.
Two impending hikes that would boost premiums for existing CalPERS Long-Term Care insurance customers by 90% make coverage hard to justify, one policyholder said.
Despite often having unwieldy investment menus, government DC plans are concentrated in large-cap U.S. equity and stable value, according to a recent report from the Public Retirement Research Lab.
