The nation’s largest retirement program — the federal government’s Thrift Savings Plan — will begin offering ESG funds in the summer of 2022 through a new mutual fund “window” similar to a brokerage option.
As reported by Barron’s, the fund program will be run by Alight, a Lincolnshire, Ill.-based administrator, which will work with Accenture Federal Services, the plan’s record-keeper.
The plan currently offers ten target-date funds and five individual funds managed by BlackRock and State Street Global Advisors. The new window will include more than 5,000 funds.
The TSP has about $760 billion in assets and covers about 6.3 million federal employees and service members.
According to the Plan Sponsor Council of America, just 2.9% of plans that it surveys annually offer an ESG or socially responsible fund option, and only about 0.1% of total plan assets are in those funds.
Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.
Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.
National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.
While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.
A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
