Results for "401(k)"

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Providing incentives for annuities within retirement plans

October 15, 2018

TIAA was founded 100 years ago by Andrew Carnegie to provide college professors with retirement income through employment-based annuities. This was an innovative concept for the time, predating the Social Security system by two decades. The...

Fidelity sued again for 401(k) plan mismanagement

October 11, 2018

Fidelity Investments Inc. has been sued by participants in its company 401(k) plan for alleged self-dealing that caused the firm to profit at the expense of its employees saving for retirement. The lawsuit filed against Fidelity — Moitoso...

Sweeping retirement legislation is likely coming soon

October 2, 2018

Sweeping retirement legislation appears to be on the way. With more than one-third of private-sector employees lacking access to retirement plans, there is strong bipartisan support for action to make plans more accessible and enhance features...

Another 403(b) plan sponsor beats back fee lawsuit

October 1, 2018

Washington University in St. Louis has won the dismissal of a lawsuit alleging it caused employees participating in the school's 403(b) plan to pay excessive fees for record keeping and investment management. Judge Ronnie L. White, who oversaw...

House approves retirement-savings bill that eases use of annuities in workplace plans

September 27, 2018

Legislation approved by the House of Representatives Thursday would make it easier for employers to include annuities in workplace retirement plans. The provision, which clarifies how firms can satisfy their fiduciary responsibilities when selecting...

401(k) adviser reliance on provider subsidies isn't wise

September 26, 2018

Most elite 401(k) plan advisers rely heavily on providers to subsidize their sales and marketing budgets. This decision has helped advisers' bottom lines in the short term — especially as the demand for service increases and fees decline —...

DOL set to propose rule on open MEPs

September 25, 2018

The Department of Labor is set to formally propose a rule seeking to expand access to workplace retirement plans, less than a month after President Donald J. Trump issued an executive order calling on the agency to do so. The Labor Department...

The ins and outs of pairing a 401(k) plan match with student loan repayment

September 24, 2018

It's no secret that many employees are struggling with financial issues created by large debts to finance their college education. One side effect is that many of those newly minted graduates and early stage employees are not deferring into...

Insurance executives push House to add annuity provision to tax reform bill

September 20, 2018

Executives from major insurance firms are pushing House leaders to amend tax-reform legislation to encourage the use of annuities in company retirement plans. In a Wednesday letter to House leaders, the corporate chiefs said that they were disappointed...

Captrust, prominent 401(k) advice firm, ramps up its wealth management business

September 17, 2018

Captrust Financial Advisors is a powerhouse in the realm of retirement plan advisers. However, the firm, which has $278 billion in client assets under advisement, is shifting to retail rather than institutional clients to drive its next phase...

401(k) adviser disclosures need an important update

September 17, 2018

A fiduciary serves a vital role in society. In the most basic form, a fiduciary is expected to make dispassionate decisions in the sole interest of the less informed. To serve in the role requires the fiduciary to embrace the twin duties of...

House committee passes open MEP bill

September 14, 2018

The House Ways and Means Committee passed a retirement savings bill Thursday that seeks to expand access to workplace retirement plans. The Family Savings Act of 2018, introduced by Rep. Mike Kelly, R-Pa., was approved in a 21-14 vote. Perhaps...

Tax Reform 2.0 adds to momentum for open MEPs

September 11, 2018

The House of Representatives is building on recent momentum to enact a popular retirement-security measure seeking to make it easier for small businesses to offer workplace savings plans. Rep. Kevin Brady, R-Texas, chairman of the House Ways...

A market sell-off could mean more 401(k) lawsuits

September 10, 2018

The current bull market is nearly 10 years old. Unemployment is low in many industries, there are more 401(k) millionaires than ever before and wage growth is looking up. Anyone saving in a 401(k) is likely doing pretty well right now. However,...

How to keep your 401(k) clients out of court

September 10, 2018

While 401(k) lawsuits show no sign of letting up, the man at the forefront of class-action retirement plan litigation foresees a day when this will change. "Ultimately, it may be that 401(k) cases end because [retirement plan] sponsors change...

Ohio National, a big variable annuity provider, exits the annuity business

September 7, 2018

Ohio National Financial Services Inc., among the top 20 sellers of variable annuities, is quitting the annuity business and is simultaneously laying off 300 employees, signaling the challenges of the variable annuity market in recent years....

Trump administration hypocrisy on retirement security

September 6, 2018

Is President Donald J. Trump a hypocrite when it comes to retirement security? His actions certainly suggest so. On Aug. 31, Mr. Trump signed an executive order meant to strengthen retirement security by expanding access to workplace retirement...

Open MEPs would be game-changer for 401(k) advisers

September 4, 2018

The president inched open multiple employer plans a step closer to reality Friday when he signed an executive order directing government agencies to make it easier for small employers to offer these retirement plans. If the Labor and Treasury...

Advisers back Trump's directive to ease distribution rules for retirement accounts

August 31, 2018

Investment advisers support President Donald J. Trump's effort to allow people to keep money in their retirement accounts longer. This afternoon at an event in Charlotte, N.C., Mr. Trump will sign an executive order directing the Treasury Department...

Trump to issue executive order to expand retirement savings rules for small businesses

August 31, 2018

President Donald J. Trump plans to issue an executive order Friday directing his administration to make it easier for small businesses to band together to set up retirement-savings plans. The order, to be signed in North Carolina ahead of the...

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