The fund giant says it also added $20 billion in defined-benefit assets last year.
Aggregators realize that in-plan retirement income solutions are needed, while CIOs understand that advisers need to be able to help participants navigate the myriad of benefits offered at work.
Less than a third of employers offer such services in some form, most often as it relates to retirement saving. And when the services are available, plan participants tend not to use them.
There were 3.3 million, or 7%, more retirees as of October 2021 than in January 2020, according to research by the St. Louis Federal Reserve.
The agreement is separate from a $6.6 million payment the company previously made and requires it to add a brokerage window to its plan.
Financial advisers could fill the void when it comes to clients' questions about when to claim benefits.
Taking into account costs incurred by both employers and workers, the expenses of a pension plan are about half that of an average 401(k), according to a report from the National Institute on Retirement Security.
Much of the proposed class-action case against Rollins Inc. points to investment guidance from an adviser to the plan who is not a defendant.
The deal represents the fourth such acquisition over a year for Newport Beach, California-based SageView, which last year sold a majority stake to Aquiline Capital Partners.
New York says insurer improperly engaged in pension risk transfer business.
A pending decision by the Supreme Court could change 401(k) fee lawsuits in a big way.
The deal gives Smart a massive boost in managed accounts and personalized services for its future clients. Hub and NFP also announced deals Thursday.
Over the last 25 years, legislative changes have increased retirement assets but disproportionally benefited the wealthy, with average inflation-adjusted savings for low-income people declining, according to the recent paper.
Survivors are subject to an earnings limit if they claim the benefit before reaching full retirement age.
403bwise is using a traffic-light rating system as it starts to assess the retirement plans that school districts offer teachers.
The conversation with a participant is not about selling a product. It’s about listening, identifying needs and solving problems.
The deal, which closed Dec. 31, includes the acquisition of Trust Company of Illinois, which is a subsidiary of Chicago-based TC Wealth.
In a recent supplement to a 2020 letter, the agency made clear that it does not endorse the use of private equity in defined-contribution plans.
With simulations showing extreme projected portfolio outcomes, some financial advisers won't even use Monte Carlo modeling for their younger clients for fear of looking silly.
The agency has not set a reentry date for in-person appointments, although some executives have returned to their offices as of December.
