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Fate of estate tax worries planning lawyers
WASHINGTON — Estate planning lawyers are increasingly worried that Congress may not act on estate tax reform before the estate tax repeal expires at the end of 2010.
Coby Brooks challenges widows’ bid for elective share of Hooters fortune
Coby Brooks, the son of the late founder and owner of the Hooters restaurant chain, is in an estate battle with his father's widow, arguing that a commonly used estate law is unconstitutional.
Smallish 401(k) accounts said to get little support
NEW YORK — Retirement is already scary for both near-retirees on a tight budget and their planners, but these clients may warrant a second look, advisers said.
Some advisers to prosper under final 403(b) rules
CHICAGO — The role of financial advisers won’t be diminished by the new 403(b) regulations released late last month, according to industry experts.
401(k) holders see robust rise in accounts
Account balances for workers who consistently held 401(k)s from 1999 to 2006 increased at an annual rate of 8.7%.
401(k) sponsors want auto features
One of the biggest changes occurring in the retirement marketplace is an increase in automatic features.
401(k) disclosure legislation introduced
A bill that would increase 401(k) disclosure should be put on hold, according to the American Benefits Council.
Council urges ‘useful’ 401(k) disclosure
The American Benefits Council supports fee disclosures related to 401(k) plans—as long as it's pertinent.
Plan sponsors embrace default investment alternatives
CHICAGO — While the Department of Labor has yet to issue final regulations on default options for 401(k) plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans.
Mickey Mouse collector bucks ‘luxury’ trend
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
Uniform 401(k) disclosure urged
401(k) participants should get concise annual summaries of expenses—preferably online, according to a trade group.
Investments as 401(k) defaults floated
The Department of Labor has proposed that investments be allowed as default options in 401(k) plans.
RIAs gaining in market for small 401(k)s
Registered investment advisers are the fastest-growing distribution channel for mutual-fund-based small-business 401(k)s. Starting from a small base, they are adding assets at the rate of about 14% a year, according to Boston-based Financial Research Corp.
Third wife prevails over adult kids in estate suit
In a case that married dry-as-dust estate-planning issues with “Dallas”-like squabbling among wealthy family members, a Texas court has decided that King Ranch heir B.K. Johnson had all his faculties when he drew up his last will and that his widow and third wife didn’t manipulate him into excluding his children.
Where there’s no will, there is a way
CHICAGO — Financial advisers are crafting new strategies to convince clients to complete their wills and estate plans.
Employers continue to close, freeze plans
Two-thirds of defined benefit pension sponsors have either closed their plans to new hires or have frozen such pensions for all participants in the last two years.
CFA Institute faces trademark battle in India
A long-running trademark battle is threatening to derail the expansion of the CFA Institute in what has become one of the fastest-growing markets for financial planning professionals.
End pensions for congressional felons
With all due respect to President John F. Kennedy, it is time to ask what our country can…
Social Security adds adviser info to site
NEW YORK — After receiving suggestions from financial professionals, the Social Security Administration has designated a section of its website specifically for advisers.
401(k) Co. and payroll service partner
The Online 401(k) announced today it is partnering with Expedition Payroll, which will allow the company to offer its clients more comprehensive payroll systems.
