Nearly 200 corporations have already stopped matching workers' contributions to their 401(k) plans and the number could very well accelerate — and possibly double — in the coming months.
Lower fees for defined contribution retirement plans are related to factors such as the size of the plan, higher contribution rates by employers and employees, and greater use of automatic enrollment.
Rep. Robert Andrews said that despite more than $2 trillion in losses over the last year, the 401(k) system is not broken — it just needs some minor, and rather immediate, adjustments to empower individual investors,
Participants in the 401(k) plan at Merrill Lynch & Co. Inc. have reached a $75 million preliminary settlement with the brokerage firm to cover losses sustained in their retirement plans over the last several years.
President Obama has his eye on automatic enrollment in individual retirement accounts and an expansion of the Saver’s Credit Act as a way to encourage Americans to prepare for retirement, according to a retirement policy expert.
More employer-sponsored retirement plans may start to offer Treasury and government money market mutual funds to minimize the risk of losses, according to a survey of plan consultants released today by Pacific Investment Management Co. LLC.
Opposition to the Obama administration's proposal to create automatic retirement plans in the workplace appears to be mounting — led in large part by both employers and financial advisers.
The cost of health care in retirement has risen 50% since 2002, according to research released today by Fidelity Investments.
Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston.
Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today.
Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market.
Health care costs of Alzheimer's disease are at least $33,007 annually per patient, compared with $10,603 for an older person without Alzheimer's, according to a report issued Tuesday by the Alzheimer's Association.
Only advisers who are independent of mutual funds, brokerage firms, insurance companies and other entities that sell financial products could give advice on individual retirement accounts if House Health, Employment, Labor and Pensions Subcommittee Chairman Rob Andrews, D-N.J., has his way.
The U.S. Chamber of Commerce, the nation’s largest employer advocacy group, has made it clear where it stands on President Obama’s proposal to create automatic retirement plans in every workplace: nice try, but no thanks.
The nation's retirement assets shrank by nearly 25% last year and lost more than $2.4 trillion in market value, according to a new report from Chicago-based Spectrem Group.
Three of five DC plans have not changed in regard to employee participation and corporate matching contributions despite the recent financial crisis.
On the surface, the Obama administration's movement to require every employer to offer workers some form of automatic retirement account is a well-intended attempt to shore up the financial futures of millions — and underneath, it's one that could also pump billions of dollars into the capital markets at a crucial time.
A recent court ruling has paved the way for the bulk of the Leona M. and Harry B. Helmsley Charitable Trust to be spent on charitable efforts, not on dogs.
Advisers need to bolster their sales efforts to snag new clients since most advisory firms’ sales are down 10% to 40%, one industry expert told advisers at the Financial Planning Association’s Business Solutions conference at the Chicago Westin.
Your wealthy client, age 72, has a sizable individual retirement account and is wondering whether to make charitable contributions from the IRA in 2009.
