The American Securities Association had filed suit alleging that a DOL document improperly claimed that a one-time recommendation to transfer assets from a company plan to an IRA triggered fiduciary duty.
Fewer retirement plan participants took hardship withdrawals to meet their immediate financial needs, according to the report.
The firm would be one of several companies providing sustainable target-date funds in the US.
But the deal raises the possibility other firms may go after the Securian advisors; Cetera and LPL have faced off in the past over recruiting advisors amid an acquisition.
The target-date funds will invest in actively managed sustainable and ESG-focused exchange-traded funds managed by Putnam.
Prior to the expansion of state pension systems in the 20th century, it was only the rich who could reasonably expect comfortable leisure time at the end of their lives.
Passing down season tickets from generation to generation can get hairy. It’s often worthwhile to bring in an estate planner or attorney to make sure it’s a clean handoff.
When Walsh will officially step down has not yet been announced but Deputy Secretary Julie Su is expected to become acting head of the agency.
The SEC, Finra and NASAA issue identical alerts telling retirement savers they're on their own if they open accounts that give them complete autonomy on the investment lineup.
Starting next year, beneficiaries of 529 plans that have been in place for 15 years or more will be able to move assets into a Roth IRA.
Florida Pension Group, headquartered in St. Johns, provides retirement plan consulting and wealth management services.
House Republicans had suggested negotiations on the debt limit could include an agreement to set up a commission to negotiate later changes to Social Security and Medicare to extend the programs' solvency.
As plan sponsors and plan advisors do their annual reviews of company retirement plans, they’ll spend a significant chunk of their time and energy coming to terms with 2022 before seriously looking ahead to the opportunity that is 2023.
Nearly 90% of investors surveyed said they would like advisors to help them with allocations
In addition to raising the age at which individuals must start taking required minimum distributions, the SECURE 2.0 Act also lowers the penalty for not taking an RMD.
There were 88 excess fee lawsuits against retirement plans last year, the second most ever, and Daniel Aronowitz of Euclid Fiduciary expects another busy year.
The majority of account holders contributed more to their HSA than they took out in 2021. But only 12% invested their HSAs in assets other than cash.
eMoney Advisor and FP Alpha have tools to help advisors with Roth conversions.
The 90-year-old active management complex is launching 12 model portfolios that combine its active mutual funds with ETFs from Schwab, Vanguard and BlackRock.
The pooled employer plan is going live as the Department of Labor's new ESG rule takes effect.
