The Charles Schwab Foundation pledged $1.25 million to Texas Tech University and the University of California at Irvine.
The 401(k) arena now demands specialized advisers, said Phil Chiricotti, president of the Center for Due Diligence.
Advisers are looking to the DOL for guidelines about how to handle revenue-sharing funds that could be refunded to plan sponsors in 401(k) plans.
As automatic features continue to propel 401(k) plans, advisers need to become retirement specialists to add value to the plan.
The new tax, slated to go into effect on Dec. 1, applies to 23 services deemed by proponents to be non-essential.
TD Bank Financial Group of Toronto will acquire Commerce Bancorp Inc. for $8.5 billion in an effort to expand its presence in the United States.
The private-equity fund will invest in China, South Korea, Singapore and Taiwan as well as Japan, India and Australia.
Advisers are said to be baffled about how much information should be passed on to participants in 401(k) plans.
The United States has one of the most mobile work forces in the world.
