Results for "403(b) plans"

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Charles Schwab to launch TDF-managed account hybrid for 401(k)s

November 8, 2019

Charles Schwab & Co. plans to roll out a service for 401(k) participants next year that's a hybrid of a target-date fund and a managed-account advice service, following in the footsteps of a handful of prominent retirement-plan record keepers...

SEC calls out conflicts of interest in TDFs

November 7, 2019

The Securities and Exchange Commission took aim at conflicts of interest in target-date funds on Thursday, calling out a fund structure that holds the majority of 401(k) investors' assets. The agency's Office of Compliance Inspections and Examinations...

IRS raises 2020 401(k) contribution limit to $19,500

November 6, 2019

On Wednesday, the Internal Revenue Service announced cost-of-living adjustments for 2020 to its limits on contributions to retirement plans. The agency's limit on annual employee contributions to 401(k)s, 403(b)s, most 457 plans and the federal...

Elizabeth Warren health care plan sparks outcry over 401(k) tax hike

November 4, 2019

Presidential hopeful Elizabeth Warren would partially fund her Medicare for All health care proposal — a key part of her campaign platform — through 401(k) savers, sparking a backlash from both industry trade groups and financial advisers....

National auto-IRA program would boost U.S. retirement savings

November 1, 2019

A federal auto-IRA program would significantly reduce the U.S. retirement savings shortfall, especially among young workers, according to a new study. Oregon was the first state to enact an auto-IRA program, in July 2017. The program, OregonSaves,...

SEC reportedly probing AIG sales practices for retirement products

October 29, 2019

American International Group Inc. shares slumped Tuesday amid a report that the Securities and Exchange Commission is probing sales practices for retirement products at a unit that handles plans for school districts and universities. The stock...

Is the 401(k) adviser M&A market about to cool down?

October 23, 2019

Is this the end of the beginning or the beginning of the end? The retirement plan adviser mergers and acquisitions market is on fire, with some deals reaching 12 to 14 times earnings before interest, taxes, depreciation and amortization, known...

DOL proposes rule on digital 401(k) disclosures

October 22, 2019

The Department of Labor proposed a rule Tuesday that's meant to encourage more employers to issue retirement plan disclosures electronically to plan participants. The rule would allow sponsors of 401(k)s and other defined-contribution plans...

Morgan Stanley wins 401(k) lawsuit over use of in-house and BlackRock funds

October 10, 2019

Morgan Stanley has won a lawsuit alleging that it included high-cost, underperforming in-house and BlackRock investment funds in its company 401(k) plan, costing its employees millions of dollars in lost retirement savings. Plaintiffs originally...

Bad news for advisers offering financial wellness programs

October 9, 2019

There's bad news for financial advisers offering financial wellness services to employers and their workers: Advisers are at a competitive disadvantage to other vendors, like 401(k) providers and health insurers. That largely stems from positioning...

Why 401(k) advisers should pay attention to Ascensus' TPA buying spree

October 8, 2019

The retirement plan third-party administrator is the definition of a dispersed cottage industry, with over 3,000 practitioners, that seems ripe for consolidation. Many have tried. None have succeeded. But Ascensus' FuturePlan, led by industry...

The risks of giving advice to 401(k) participants

October 8, 2019

From time to time, advisers who serve as investment fiduciaries for 401(k) plans ask if they can also provide investment advice to participants. The answer is "Yes, if it's done properly." As that suggests, the devil is in the details. The starting...

SEC probing compensation, sales practices in 403(b) plans for school districts

October 8, 2019

The Securities and Exchange Commission appears to be launching a broad investigation of compensation and sales practices in defined-contribution plans for school districts, an atypical move that targets a segment of the market frequently lambasted...

Factors to consider before taking a pension buyout

October 7, 2019

General Electric is the latest company to offer a pension buyout to former employees as it tries to shore up its pension plans, which were $27 billion underfunded as of year-end 2018. The company is offering lump-sum payments to 100,000 former...

Investigation into 403(b) costs, sales could be an A+ for teachers

October 3, 2019

New York's investigation 403(b) plan costs and sales tactics used by insurers is welcome action from regulators that will hopefully be accompanied by long-overdue reforms and financial relief for vulnerable consumers. The exploited consumers...

401(k) lawsuits get more complex

October 2, 2019

Lawsuits targeting 401(k) plan sponsors increasingly involve issues that are complex and granular. It's a trend that's likely to continue as such litigation proliferates and one that some advisers and attorneys fear may leave employers paralyzed...

New rules make it easier to access 401(k) funds

September 30, 2019

Final rules issued recently by federal regulators make it easier for 401(k) participants to withdraw their retirement savings early in the event of a hardship, which could have the effect of increasing so-called leakage from workplace retirement...

Voya retirement chief talks M&A, fee pressure and emerging 401(k) fraud

September 27, 2019

Charles Nelson, chief executive of retirement and employee benefits at Voya Financial Inc., oversees one of the largest defined-contribution plan record-keeping businesses in the U.S., administering $304 billion in retirement assets as of June...

The 401(k)-HSA savings rule of thumb works, until it doesn't

September 26, 2019

The rule of thumb for helping employees choose how to allocate workplace savings between a 401(k) account and a health savings account is relatively straightforward: Save up to the percentage of the employer's 401(k) match to take advantage...

Top 10 fiduciary misconceptions among 401(k) plan sponsors

September 25, 2019

The level of confusion about ERISA fiduciary liability among employers that sponsor defined-contribution plans with less than $250 million in assets cannot be overstated. That's not judgmental — it's just reality. It's not surprising that...

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