The lawsuit filed in 2019 centered on the target-date funds used in the plan. Also this week, KPMG was sued over its plan, just as its CEO announced a participant-friendly contribution structure.
The White House framework includes a 15% minimum corporate tax and a tax surcharge on wealthiest Americans, but leaves out an automatic retirement plan provision and changes to IRA rules
Sales dipped slightly during the third quarter compared with the second, a report finds, but the year is still on pace to be the biggest since 2008.
The administration believes the package, which includes tax increases and climate and social welfare spending, can pass Congress.
The RPA Broker-Dealer Roundtable and Think Tank covered getting data, providing plan access and helping participants with low balances.
This year, dozens of entities have registered with the Department of Labor as pooled plan providers, and some have brought their plans to market.
The plan, sponsored by Senate Finance Committee Chairman Ron Wyden, would require the richest Americans to pay taxes annually on appreciation in publicly traded assets, such as stocks and bonds.
The Labor Department's proposed ESG rule is a great step forward. The transition to a more sustainable economy will require increased attention to material risks and opportunities, including those related to ESG factors.
The bill would increase the average benefit by 2% and impose the payroll tax on wages above $400,000.
An annual levy on the unrealized capital gains of ultra-wealthy people 'is a slippery slope' that could draw in millionaires and more, one adviser said.
As of August, 529 programs represented about $437 billion in assets, according to the investment research firm. The rankings include 62 total plans, accounting for about 97% of the industry by assets.
The Labor Department is giving the financial industry the additional breathing room it had sought to prepare for the new regulation.
About 3 million people retired earlier than they likely had planned as a result of the Covid environment, according to a report by a senior economist at the Federal Reserve Bank of St. Louis.
Don’t let clients sabotage their retirement plans because of fears about the program’s finances. Advisers can help clients put trust fund solvency woes into perspective.
Private-sector employers that don't offer a retirement plan are now required to enroll workers in the state's program.
Carson Group is the latest to sign up for the three-year-old service that lets advisers allocate assets in held-away accounts like 401(k)s. It is compliance-friendly and secure, the firm says.
But an executive at Schwab says increasing the top capital gains rate and lowering the estate tax exemption could make it into a compromise measure.
The larger providers produced by consolidation will cater to larger RPA groups like aggregators and major broker-dealers at the expense of smaller, independent RPAs.
The product, which will be offered in defined-contribution plans, is engineered to deliver 6% income at retirement.
The purchase of Bloomfield Hills Financial brings SageView 50 employees and six locations.
