RBC Wealth Management, Transamerica and Ascensus have introduced a new pooled plan retirement solution for owners of small and midsize businesses.
Called the RBC Group Retirement Plan, it will be open to existing and start-up 401(k) plans and will be distributed solely through RBC Wealth Management, which will act as its Section 3(38) investment fiduciary. Ascensus’ FuturePlan will serve as the program’s third-party administrator and Section 3(16) plan administrator; Transamerica will be the record keeper.
The RBC GRP also includes a proprietary 100-point payroll data integrity check designed to prevent most common plan errors flagged in Department of Labor and IRS audits, RBC said in a press release.
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A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
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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.
