Health savings accounts, often confused with flexible spending accounts, are prized for their tax leniency. But many things hold them back, including the high-deductible health plans to which they are tethered.
Across age, income and education levels, people who are still paying down college debt on average had much smaller defined-contribution plan balances and in some cases were less likely to own a home, according to a study from the Employee Benefit Research Group.
The company was far from being the first to register with the Department of Labor as a pooled plan provider. But its fully bundled service, which includes administration, fiduciary oversight and the plan’s investments, indicates that Fidelity is confident that it will not run afoul of the regulator.
The deal for Florida-based Fulcrum Partners will expand the footprint of the giant insurance broker’s registered investment adviser.
The deal will reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping business to Empower Retirement via a reinsurance transaction with a ceding commission of $2.35 billion.
An initial public offering of a stake in Jackson, one of the biggest annuities providers in the U.S., will be held in the first half of 2021, according to a Prudential statement.
TIAA Institute research paper finds that even eliminating RMDs would have little effect on government revenues and says the effect on retirees depends on whether they have a bequest motive.
Some retirement plan advisers have cut green investing options from 401(k) plans following Trump's last-minute rule change.
A new report from the Social Security Administration provides a road map for maximizing benefits for individuals who qualify for both programs.
Total U.S. annuity sales hit $58.7 billion in the last three months of the year, up 2% from the $57.6 billion during the same timeframe in 2019, according to data published by Limra’s Secure Retirement Institute. But sales were down for the full year.
The deal with Foley Trasimene values Blackstone Group's benefits administrator at about $7.3 billion including debt. Blackstone bought the unit from Aon in 2017.
As several recent deals show, such as OneDigital's purchase of Truist's RPA business, banks offer retirement plan advisers a chance to grow their business.
A nonworking wife with no Social Security benefits of her own cannot collect on her husband’s earnings record until he files for his Social Security benefit.
An evenly divided Senate might tweak rather than overhaul investment-advice policy, such as the treatment of rollovers, while resisting some tax increases Biden advocated during the election.
Fidelity Investments became the latest to register with the Department of Labor as a pooled plan provider. The PEP, which appears to target small businesses, could significantly boost the company’s presence in that market – the bulk of Fidelity’s defined-contribution plan business is with large employers.
Plaintiffs allege excessive fees and other claims against the auto maker and drug company, while a participant in a plan using American Trust as trustee claims a major distribution was made without his permission. The University of Pennsylvania settled a long-running case over its 403(b).
Learning from the lessons of 2020 and taking action to improve their retirement planning should be a key focus for advisers in 2021.
After private-equity partners lined up to invest in Captrust, which eventually selected GTCR, the firms that were left out were eager to invest. SageView became the most attractive option remaining.
As COVID-19 forced some older Americans into early retirement, a survey shows a huge increase last year in total retiree debt, partly as a result of more people carrying credit card debt.
The deal for Vertical Financial Group is the insurance giant’s second big purchase of a retirement plan adviser.
