Results for "401(k)"

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June 11, 2019

BY Greg Iacurci The Supreme Court has agreed to hear a case alleging employer Intel Corp. lost its employees substantial retirement savings by investing a large portion of 401(k) plan assets in risky and high-cost hedge-fund and private-equity...

Average Fidelity 401(k) balance increases sixfold over past decade to almost $300,000

May 9, 2019

Investors who've had 401(k) accounts at Fidelity for a decade saw their average balance increase sixfold to almost $300,000 since the market bottomed after the global financial crisis, the company said. Workers saving for retirement saw their...

New bill links 401(k) matches to student loan payments

May 14, 2019

A bill that includes a provision to make it easier for companies to contribute to the retirement accounts of employees who are paying down student debt was reintroduced in the Senate this week. Among other changes, such as stepping up the age...

CITs are changing the retail 401(k) world

May 22, 2019

"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness … we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way."...

Employers can assure retirement for $2.64 an hour

April 10, 2019

Hedge fund titan Ray Dalio published a sobering essay last Friday about the state of capitalism in the U.S. He observed, correctly in my view, that "the ability to make money, save it, and put it into capital (i.e., capitalism) is an effective...

Criticism of Richard Thaler proposal must not prevent discussion

April 27, 2019

The idea recently put forward by Nobel laureate Richard Thaler to allow Americans to contribute a portion of their 401(k) balances to the Social Security Administration in return for a higher income stream has been criticized from some in the...

When to do a retirement-plan rollover, and when to avoid it

April 26, 2019

During the Department of Labor fiduciary debate, one of the biggest issues was the benefits and drawbacks of rolling 401(k) and other employer-sponsored retirement plans into individual retirement accounts. The government made the argument that...

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...

Eaton Vance settles 401(k) lawsuit for $3.45 million

May 8, 2019

Eaton Vance will pay $3.45 million to settle a class-action lawsuit alleging it mismanaged its company 401(k) plan and profited at the expense of its employees by offering them in-house mutual funds. The settlement furthers a trend playing out...

Another 401(k) plan sues Fidelity over 'kickbacks'

April 8, 2019

A participant in the Publicis 401(k) retirement plan has filed a class-action lawsuit against Fidelity Investments, charging that the record keeper received kickbacks from other fund companies whose funds are offered in the program. The suit,...

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...

Near-retirees get a Halloween scare

October 31, 2018

Who needs to watch reruns of "Friday the 13th" horror movies for cheap Halloween thrills? A quick glance at the financial news, including the heart-stopping 900-point swing in the Dow Jones Industrial Average in intraday trading Monday, is enough...

Wells Fargo wouldn't be the first to push proprietary products on 401(k) plan participants

April 27, 2018

The disclosure of an alleged Labor Department investigation of Wells Fargo sales practices — including those in its retirement-plan services division — is sure to raise a few eyebrows, but should this sort of thing really be a revelation...

Retirement outlook for millennials

April 13, 2018

And now for something different. Although I spend most of my time writing and speaking about retirement income issues, sometimes I get the chance to address young workers at the beginning of their careers, as I did recently as part of National...

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....

Transamerica employees sue over 401(k) investment options

January 3, 2019

In another case involving the retirement plan of a major financial services firm, current and former employees of Transamerica Corp. have sued the company and its 401(k) plan fiduciaries, alleging they breached their duties under ERISA by not...

401(k) adviser fees for small plans buck compression trend

March 29, 2019

Small 401(k) plans are proving to be an oasis of sorts for financial advisers even as fees for larger plans are declining rapidly.​ Average advisory fees for a $100 million 401(k) plan decreased by 9% in 2018 from the year prior, according...

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...

Clients facing late-career job loss can tap 401(k)s early

October 27, 2017

The unemployment rate continues to tick down, close to what many economists consider the level of full employment. That's a testament to both the relative strength of the economy and business' willingness to hire. For sure, the recovery from...

Future retirees focus on taxes

November 1, 2018

In the past, retirees relied on their accountants for tax advice. But future retirees increasingly are looking to their financial advisers for guidance on how to maximize their spendable retirement income by minimizing their taxes, according...

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