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Why the 'Father of the 401(k)' is both right and wrong about small plans

August 1, 2018

There's no question that smaller companies are under greater pressure than ever to offer a retirement plan to workers, either because of state requirements or to attract employees in a market with a historically low level of unemployment. But...

LPL not selling Worksite Financial Solutions 401(k) platform

July 27, 2018

LPL Financial will not sell its Worksite Financial Solutions 401(k) platform, a decision that follows an expression of interest to buy the program by Global Retirement Partners, the largest retirement-focused advisory firm in LPL's network....

Systems glitch sends erroneous text messages to some Vanguard customers

July 25, 2018

Some participants in 401(k) accounts administered by the Vanguard Group received an erroneous text message Tuesday night saying that a loan from the account was being processed and the proceeds would soon be sent to the account holder's bank....

Judge dismisses amended complaint in Wells Fargo stock-drop case

July 24, 2018

A U.S. District Court judge in Minneapolis dismissed for the second time a lawsuit by participants in the 401(k) plan of Wells Fargo & Co., saying plaintiffs failed to prove their complaints of fiduciary breaches regarding the management of...

Judge dismisses suit against AT&T plan

July 24, 2018

A U.S. District Court judge in Los Angeles dismissed claims by participants in the AT&T Retirement Services Plan, Dallas, that plan fiduciaries failed, among other things, to use the plan's large size to "obtain reasonable" record-keeping fees...

Fidelity, Empower to keep fiduciary services for 401(k) plan participants

July 23, 2018

Fidelity Investments and Empower Retirement, two of the largest record keepers of defined-contribution plans, will continue to provide fiduciary advice to 401(k) participants via their call centers, even though the Department of Labor's fiduciary...

401(k) advisory firms with custom TDFs offer pain, solace to asset managers

July 20, 2018

Target-date funds built by firms with large networks of 401(k) plan advisers are beginning to gather significant assets, posing a direct threat to some asset managers trying to distribute their own products. Consider Retirement Plan Advisory...

Fidelity backs away from being 'point in time' fiduciary for 401(k) plans

July 18, 2018

Fidelity Investments will no longer serve as a fiduciary when it helps employers select investments for their 401(k) plans, moving away from a policy the firm adopted last year in response to the Department of Labor's fiduciary rule. Fidelity,...

Fidelity adds more financial planning to its 401(k) managed accounts

July 17, 2018

Fidelity Investments, the largest record keeper of defined-contribution plans, has upgraded its managed account service to encompass more holistic financial planning and advice for 401(k) investors. Observers say the move signals a trend that's...

Beware 401(k) robo-fiduciaries – especially the human ones

July 17, 2018

This article has been updated to reflect the correct name of the Mercer product mentioned in the second paragraph. There's a lot of talk about robo-advisers, many of which would be troubling to traditional 401(k) plan advisers if they had a...

Automatic enrollment in small-business plans is working

July 12, 2018

Corroborating behavioral finance insights on saving habits, a survey by Vanguard of 8,900 small-business retirement plans found that those having automatic enrollment enjoyed an 83% participation rate, versus 58% for plans with voluntary enrollment....

Judge dismisses stock-drop suit against Allergan

July 9, 2018

A federal judge has dismissed a complaint by participants in an Allergan defined-contribution plan, rejecting allegations that company and plan executives violated their fiduciary duties by offering company stock in the plan menu. The plaintiffs...

What older people should consider when starting a business

July 3, 2018

Andrew S. Morrison, 62, doesn't see himself playing golf anytime soon. When he left his post as a senior vice president at a health insurance company in 2013, he consulted for a couple of years, but found the work wasn't challenging. So in 2016,...

Investors don't have a clue about using 401(k) savings, Cerulli says

June 29, 2018

A new study from research firm Cerulli Associates finds that most investors who have accumulated a retirement nest egg in a 401(k) plan are "clueless" about how to use the money. When asked what they will do with their accumulated savings, one...

Push to require Roth 401(k) savings over traditional plans may re-emerge

June 26, 2018

Retirement plan advisers who thought Washington had ditched the idea of requiring Roth 401(k) savings instead of traditional 401(k)s should think again. Those who closely follow retirement policy say senior legislators on Capitol Hill are again...

401(k) advisers should heed the legal aspects of outsourcing

June 25, 2018

The outsourcing of retirement plan functions — administrative, investment and others — is a practice that predates the Employee Retirement Income Security Act of 1974. But its prevalence has increased in recent years as a result of increased...

IRA assets will almost double those in 401(k) plans over next five years

June 25, 2018

Assets in individual retirement accounts are likely to grow to almost twice the amount held in 401(k) plans over the next five years, according to an industry analyst. IRA assets are projected to swell to $12.6 trillion by the end of 2022, according...

Lessons 401(k) advisers learned from the DOL fiduciary rule saga

June 21, 2018

Retirement plan advisers, especially specialists, used to complain that their broker-dealers and the public ignored them — or, worse, didn't realize they existed. All that has changed now that retirement has become a key political issue and...

Opaque, outdated 401(k) plan disclosures harming investors, advisers

June 20, 2018

Opaque and outdated 401(k) plan disclosures are harming investors and financial advisers trying to gauge whether rolling money out of a workplace retirement plan is in the client's best interest, Morningstar Inc. argues in a new report. The...

401(k) fund fees continue to fall

June 19, 2018

Fees for equity, hybrid and bond mutual funds held in 401(k) plans continued their long-term decline in 2017, according to a new report published by the Investment Company Institute, a trade group representing fund managers. The average asset-weighted...

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