Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston.
In his White House press conference last night, President Obama defended his proposal to reduce the tax deduction for philanthropic gifts, stating that the measure would not deter donors from giving.
Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today.
Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market.
Health care costs of Alzheimer's disease are at least $33,007 annually per patient, compared with $10,603 for an older person without Alzheimer's, according to a report issued Tuesday by the Alzheimer's Association.
The Federal Reserve's chairman and the secretary of the treasury are making a rare joint appearance at a congressional hearing, to take a scolding over AIG.
Only advisers who are independent of mutual funds, brokerage firms, insurance companies and other entities that sell financial products could give advice on individual retirement accounts if House Health, Employment, Labor and Pensions Subcommittee Chairman Rob Andrews, D-N.J., has his way.
The Obama administration says it hopes a new bank rescue initiative will generate $500 billion in purchasing power to buy up toxic assets from banks.
As Florida weighs proposed legislation that could make it easier to toss annuity salespeople into prison, agents and the insurance industry are rallying to fight the bill.
The federal budget deficit for the current year will top $1.8 trillion under the latest estimates produced by congressional economists, say Capitol Hill aides briefed on the figures.
The SEC yesterday charged a former New York deputy comptroller and a top political adviser with allegedly extracting millions of dollars in kickbacks from money managers.
New jobless claims fell more than expected last week, to a seasonally adjusted 646,000.
Although older baby boomers account for the majority of individual long term care insurance sales, it is largely younger boomers and those under 45 who buy group LTC insurance.
While the IRS released new rules this week to help victims of Bernard Madoff’s Ponzi scheme recoup some of their losses with a tax break, private foundations will not be able to benefit.
Sales of variable annuities fell in the fourth quarter as premium flows hit $33.3 billion, according to data from NAVA Inc.
Thirteen recipients of bailout funds from the Troubled Asset Relief Program owe more than $220 million in unpaid federal taxes.
Financial advisers said that clients increasingly consolidated their assets during the market decline, according to a survey released today by Fidelity Investments.
The BISA-Singer Bank Brokerage Index dropped 10% in the fourth quarter, the Bank Insurance and Securities Association announced yesterday.
European Union leaders on Thursday insisted they were spending enough to dig out of the recession, with the EU presidency saying an additional stimulus package "is a deadly idea."
U.S. consumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades.
