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Pressure to be fiduciaries intensifies
Last week's U.S. Supreme Court decision to allow individual participants to sue 401(k) plan administrators will put further pressure on financial advisers to ensure that they are adhering to their fiduciary status, industry observers say.
Fees push managed accounts off 401(k) default lists
Managed accounts aren't popular default options in 401(k) plans, because fees are too high for plan executives to justify, leaving them concerned about fulfilling their fiduciary responsibility, experts say.
Finding niche in 401(k) consulting
While target marketing usually means targeting a specific audience, sometimes a product target also can bring success.
Individuals may now sue 401(k) plans
Today’s Supreme Court decision will impact 50 million workers with $2.7 trillion invested in 401(k) plans.
Fido’s DC record-kept assets grow
Defined contribution record-kept assets at Fidelity Investments grew 8% last year.
Lincoln Financial hires DC product head
Cynthia King will be head of products for the the company’s Employer Markets Defined Contribution and Executive Benefits Business segment.
Annuities gain ground in retirement market
Despite initial concerns about portability, cost and complexity, annuities in defined contribution plans are slowly gaining momentum, according to a new report.
Plan sponsors brace for new regs
Complying with new 401(k) fee disclosures will be an arduous task, said a number of leading attorneys.
UBS and Genworth team up on life option
The new benefit will go with UBS’s target retirement funds and other investment options.
401(k) participants move to equity in Dec.
A total of $50 million in 401(k) assets moved into diversified equities from fixed-income investments during December, according to the Hewitt 401(k) Index.
Citi, Merrill, Morgan hit with ERISA claims
Employee plaintiffs are lining up to sue the major brokerage firms over losses in company stock.
New regs may give 403(b)s new life
Starting in 2009, new rules will change the landscape of the 403(b) industry, making the plans look more like 401(k)s and increasing their attractiveness to savvy advisers in the process, industry leaders believe.
Task force to gauge 403(b) plan issues
The group comprises 18 record keepers and investment providers that serve the market for the defined contribution plans sponsored by school systems and hospitals.
Liebrock jumps from Fidelity to Captrust
Dave Liebrock will be an adviser at Captrust, working mostly with plan sponsors in the mid-market 401(k) space.
Plans to be fined on disclosure issues
Defined contribution plan administrators may be fined $1,000 a day if they fail to disclose documents to participants.
401(k) disclosure bill introduced in Senate
“This bill will shed light on the 401(k) selection process and give Americans more control over their retirement future,” Sen. Tom Harkin said.
401(k) disclosure regs floated
The Department of Labor proposed a new rule for fiduciaries meant to increase fee disclosure in 401(k)s.
IRAs outshine defined contribution plans
Assets in individual retirement accounts grew 16.5% in 2006 to a record $4.23 trillion, according to EBRI.
401(k)s not enough for young workers
37% of workers born in 1990 will reach retirement age with no savings in a 401(k)-type account, says a report.
CPAs for small businesses may offer 401(k) plans
Certified public accountants who serve small businesses are poised to offer 401(k) plans to their clients, said Chandra Bhansali, president of AccountantsWorld LLC, an online company that provides payroll assistance to 110,000 accountants.
