Results for "401(k)"

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Wealth managers ignore 401(k) plans at their peril

March 14, 2019

Many wealth managers and financial planners who never intended to focus on the 401(k) or 403(b) market might nevertheless have a few plans. Most are just accommodating an important client and, at best, view the plan as a distraction. At worst,...

Brown University settles 403(b) lawsuit for $3.5 million

March 13, 2019

Brown University has reached a $3.5 million settlement in a lawsuit alleging the school mismanaged its retirement plan and cost employees millions of dollars in savings. Around two dozen prominent colleges and universities have been sued since...

The 401(k) 'stretch' match may work in reverse

March 7, 2019

Employers and their retirement plan advisers frequently employ a particular 401(k) feature called a "stretch" match to get their employees to save more money. There's only one problem: New research shows that the technique could actually have...

10 things to know about TDFs

March 6, 2019

Target-date funds are booming, with combined assets in mutual funds and collective investment trust funds approaching $1.8 trillion, according to Sway Research. The average 401(k) plan holds roughly 22% of its assets in TDFs, up from 8% a decade...

Lessons for advisers from 401(k) lawsuits

March 5, 2019

Perhaps nothing causes as much anxiety for retirement plan advisers as the potential for a client to be hauled into court to face accusations of fiduciary breaches. Even in the best-case scenario where the plan successfully defends itself, dealing...

4 reasons 401(k) advisers should partner with a benefits broker

March 5, 2019

The employee benefits marketplace continues to evolve, with medical and retirement products continuing to merge. This trend is fantastic for the end consumer. But what is the best way for retirement plan advisers to partner with a benefits broker...

Fidelity faces Galvin inquiry over fees charged for 401(k) plans

March 4, 2019

Fidelity Investments is facing more scrutiny over fees it charges some mutual funds for using its platform to access retirement plan customers. The Massachusetts Secretary of the Commonwealth said its securities division sent a letter last Wednesday...

Vanguard share of target-date fund market becoming 'obscene'

March 4, 2019

Vanguard Group extended its dominance over the target-date fund market last year as the flow of retirement assets into index funds continued unabated, with employers seeking to reduce the cost of their 401(k) plans. Vanguard swelled its target-date...

New Jersey poised to create auto-IRA program

February 28, 2019

New Jersey is poised to become the latest state to establish a so-called auto-IRA program to help residents save for retirement. New Jersey's state Assembly passed a bill this week that would create the New Jersey Secure Choice Savings Program,...

Are the economics of active management becoming unsustainable?

February 27, 2019

When one of the world's largest money managers calls the economics of a major fund platform into question, it raises a few eyebrows. Fidelity Investments, which manages $2.5 trillion for investors, said the ongoing movement to low-cost mutual...

Fidelity says it fully discloses fund fees in 401(k) plans

February 27, 2019

Fidelity Investments says it fully discloses fees that it charges some mutual funds for using the company's platform to access retirement plan customers. The fees and Fidelity's disclosure of them are being probed by the U.S. Labor Department,...

The 10 biggest threats for retirement plan advisers

February 26, 2019

The entire defined-contribution industry is in flux as retirement planning becomes more important. Plan sponsors are paying more attention to their DC plans, putting pressure on advisers to deliver real value while demanding lower costs. Here...

Fidelity sued for 'secret payments' in 401(k) plans

February 25, 2019

Fidelity Investments has been sued by a 401(k)-plan participant for accepting "secret payments" from certain retirement-plan business partners, allegedly allowing it to reap larger profits at the expense of its customers' retirement savings....

Middle-aged and out of work: When clients over 50 lose their jobs, advisers become a lifeline

February 23, 2019

Gail House was forced into retirement last year at age 58, after serving two decades as the principal safety manager for her Orlando, Fla., employer.​ Ms. House, who'd been earning a low-six-figure salary, hasn't received a paycheck in almost...

Franklin Templeton settles 401(k) lawsuit for $14 million

February 20, 2019

Franklin Templeton Investments has agreed to pay roughly $14 million to settle a lawsuit alleging the firm profited at the expense of its employees by loading its 401(k) plan with in-house investments. Plaintiffs in the class-action lawsuit...

Ascensus sells 25 percent stake to private equity firm

February 19, 2019

Ascensus, which administers retirement and college savings plans, has sold a 25% stake to a group of private-equity investors, the firm announced Tuesday. Atlas Merchant Capital leads the investor group, which includes Singapore's sovereign...

Bills would allow employers to help workers pay off student debt, tax-free

February 13, 2019

Bipartisan Senate legislation would provide favorable tax treatment to encourage employers to help their workers pay off student loan debt. Under the bill, the Employer Participation in Repayment Act, companies could contribute up to $5,250...

Charles Schwab gets most 401(k) claims dismissed

February 13, 2019

A federal judge dismissed most of the claims filed against Charles Schwab Corp. in a lawsuit alleging the firm profited from its 401(k) plan at the expense of employees, but did allow one allegation to move forward. The class-action lawsuit,...

Convergence of retirement planning and employee benefits is here

February 13, 2019

Ten years ago, only a small percentage of financial advisers offered fiduciary advice services, either because their broker-dealer would not allow it or because there was more money in selling commissioned products. Now, more advisers than not...

Retirement savings bill re-introduced in House with bipartisan backing

February 6, 2019

Legislation that would help small businesses offer retirement plans to their employees and ease the use of annuities in them was re-introduced in the House on Wednesday with bipartisan backing. The Retirement Enhancement and Savings Act contains...

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