The banking giant, which was convicted of wire fraud in connection with a Libor-rigging scheme, currently enjoys key rule exemption.
The rule, which was proposed last year and goes into effect next Tuesday, essentially replaces the defunct Obama-era version that regulated investment advice for 401(k)s and rollover IRAs. It provides an exemption for investment advice fiduciaries under the Employee Retirement Income Security Act.
The new world of working from the comfort of home has made employment a touch more tolerable, leading many to stay in their current jobs indefinitely, or accept new offers for part-time or temporary work.
The legislation would allow an inflation adjustment for stock or business property held by people 59 ½ or older who have held the assets for more than three years. The inflation adjustments would be made according to the Chained Consumer Price Index for All Urban Consumers.
While the Labor Department has ended its support for the suit seeking to invalidate California's auto-IRA, the analysis in its amicus brief is still part of the record before the court.
The company is among a slim minority of defined-contribution plan sponsors. According to Vanguard’s 2020 How America Saves report, only 4% of its record-keeping clients did not make contributions of any kind to the company retirement plans.
Though retirement planning seems so critical to those of us in the defined-contribution industry, just as copy machines seem to their salespeople, plan sponsors may not feel the same.
Nearly three-quarters of women with investible assets of $100,000 or more say the pandemic has negatively impacted their ability to retire, but as that is happening, more women are turning to financial professionals for advice, according to a Nationwide survey.
Survey finds most institutional investors look for sustainable investing and diversity criteria when hiring equity managers.
Health savings accounts can be one of the best ways to save for retirement. But the money to fund them must come from somewhere, and for many, the most obvious place appears to be the 401(k).
Relatively few people tapped their retirement accounts, but 20% drew on their emergency savings and 18% increased their credit card debt.
The Coca-Cola Bottlers' Association this week was sued over fees and investments in its multiple employer plan. Former participants in a terminated 403(b) sponsored by a health care system also filed claims.
Regulators say the insurance company’s American General Life subsidiary operated in the state without a license, undertaking four large-scale pension risk transfers and bidding on others.
This generation's longevity, combined with the fact that they'll get less support from Social Security, poses a retirement income problem.
Few automatically match unclaimed retirement accounts with their owners. In most cases, only about 3% of accounts are claimed within two years of being turned over to the state.
The former CEO of Washington Financial Group succeeds the late David Reich in the role of national president of Hub Retirement and Private Wealth.
Managed accounts offer DCIOs the opportunity to be a more active and important part of the DC ecosystem. It moves them from being dependent on record keepers, advisers and plan sponsors to create the strategy to help participants, to being an advice provider of customized investment solutions.
Sacramento, California-based Genovese Burford was founded in 1987 and has nearly 1,500 clients.
Prudential Retirement plans to launch the service, Advice and Income Engines, sometime during the first quarter of 2021. It will provide retirement planning and personalized portfolio management to Prudential’s defined-contribution plan participants.
The VirginiaSaves program would be similar to automatic IRAs used in several states, including Oregon, Illinois and California. Virginia’s House of Delegates passed the measure last week by a vote of 56 to 44.
