Results for "401(k)"

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Caterpillar settlement could make 401(k) advisers vulnerable to fee suits

November 15, 2009

Caterpillar Inc.'s announcement that it has reached a tentative settlement over the fees it charged its 401(k) plan participants may be bad news for plan sponsors, their advisers and mutual fund companies. Not only could the settlement open...

Caterpillar settlement could make 401(k) advisers vulnerable to lawsuits over fees

November 12, 2009

Caterpillar Inc.’s announcement last week that it has reached a tentative settlement over the fees it charged its 401(k) plan participants may be bad news for plan sponsors, their advisers and mutual fund companies. Not only could the settlement...

Milliman looking to partner on guaranteed income product for 401(k) plans

November 9, 2009

Milliman Inc. is in discussions with a number of mutual fund companies, insurers and 401(k) plan sponsors to launch a guaranteed income product that would be backed by a pool of insurers. By mid-2010, the company expects that at least one 401(k)...

Smaller players foundering in target date fund market

November 8, 2009

More than twice the number of target date funds have liquidated this year than in all of 2008, indicating how difficult it is for asset managers unaffiliated with 401(k) record keepers to build assets in such funds. So far in 2009, there have...

Hewitt: Advisers making inroads in 401(k) market

November 8, 2009

Despite the growing trend of employers putting their 401(k) plans on autopilot, many more are making investment advice available to plan participants, according to a Hewitt Associates survey released last week. Fifty percent of 401(k) plans...

Rollover firm on a roll

November 8, 2009

The lousy economy hasn't been bad for everyone. More companies and workers have abandoned 401(k) plans amid the downturn, and that has helped Millennium Trust Co. LLC, which provides rollover services to companies that terminate 401(k) plans...

Senate to address conflicts in proprietary target funds

October 25, 2009

Insiders say that the Senate Special Committee on Aging hearings Wednesday will focus on the potential for conflict of interest within proprietary target date funds. As of Sept. 30, 98% of target date fund assets were in proprietary funds, according...

Aviva eyes guarantee wrapper with managed account or 401(k)

October 25, 2009

Although Aviva USA Corp. already has an established strength in its lineup of indexed products, the insurer has its eye on the next innovation: a guarantee wrapper with a managed account or 401(k), according to chief executive Christopher J....

Industry rails against claims the 401(k) should be "retired'

October 25, 2009

Providers of 401(k) plans have lambasted a critical article published Oct. 9 in Time magazine denouncing the 401(k) system. In “Why It's Time to Retire the 401(k),” Stephen Gandel argued that the 401(k) system isn't a sufficient vehicle...

Key lawmaker: Kill 401(k) indie-adviser proposal

October 2, 2009

Legislation moving through Congress that would sharply limit what kinds of advisers can counsel 401(k) participants should not be passed, Rep. Earl Pomeroy, D-N.D., said today. Mr. Pomeroy, a member of the House Ways and Means Committee, said...

401(k) balance tipping to the young

September 27, 2009

Same market, different outcome. Although account balances for young 401(k) participants rose by a huge amount from Jan. 1, 2008, through the middle of this month, balances for workers nearing retirement fell, according to a recent report from...

Congress to tackle rule on retirement advice

September 20, 2009

Now that the Department of Labor is scrapping a rule proposal that would have allowed brokers affiliated with financial-services firms to provide advice to 401(k) participants, Congress will move forward with legislation that would require that...

Congress won't permit lower cap on 401(k) contributions, top lawmaker says

September 16, 2009

Congress is not likely to permit the IRS to lower employee 401(k) contribution limits, even if inflation continues to decline, said a leading House Democrat. “There is as close to zero chance as I could tell you that that's going to happen,...

John Hancock retirement unit to open up its retirement plan products to Edward Jones

September 15, 2009

John Hancock Retirement Plan Services today kicked off a relationship with Edward D. Jones & Co. LP, providing the firm’s financial advisers with access to its retirement plan products. Edward Jones advisers now have access to John Hancock’s...

Companies reinstate their 401(k) matches - slowly

September 13, 2009

Companies are starting to restore matching contributions to their 401(k) plans after extensive cost- cutting and signs of improvement in the economy. Experts said that these companies represent the first batch in what could be a major round...

Hard times lead to hardship withdrawals from 401(k) plans

September 11, 2009

Tapping 401(k) retirement funds to meet expenses is a last resort for many investors, but the relentless economic downturn took its toll this year, as hardship withdrawals saw double-digit increases, according to record keepers. Hardship withdrawals...

Hartford consolidates distribution units for retirement plans, individuals

September 10, 2009

The Hartford Financial Services Group Inc. yesterday formed Hartford Life Distributors, an entity that consolidates its distribution forces for 401(k) plans and individual products. The unit combines the internal and external sales units, as...

Obama makes it easer for small companies to set up 401(k)s

September 8, 2009

The recession has eaten into people's nest eggs so the government is promoting ways to make it easier to save for retirement. One initiative that President Barack Obama outlined in his weekly radio and Internet address Saturday will allow people...

LPL expands retirement platform for 401(k) advisers

September 4, 2009

LPL Financial is continuing to add to its platform of retirement offerings and products for reps and advisers focused on the 401(k) market. At its recent national meeting in San Diego, the firm introduced a “retirement-plus program.” This...

401k contribution limits face potential fall

September 4, 2009

You've probably heard it over and over again: contribute up to the maximum amount in your 401(k) plan to improve your chances of a comfortable retirement. That's the advice of many financial experts, who say it's the best way to get back the...

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