Results for "403(b) plans"

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Duke University settles 403(b) lawsuit for $10.7 million

January 18, 2019

Duke University settled a lawsuit alleging that it mismanaged its retirement plan for employees for nearly $11 million. It's the second higher-education institution, following the University of Chicago, to settle similar claims in the roughly...

401(k) plan sponsors laser-focused on fees

January 18, 2019

Fees charged in defined-contribution plans rank as plan sponsors' top area of focus in 2019, according to a new report, as employers continue to worry that high fees for functions like administration and investment management could expose them...

Hub-Sheridan Road latest deal to heat up M&A among 401(k) advice firms

January 10, 2019

Acquisitions of financial advisory firms focused on the retirement-plan market appear to be gaining momentum. A handful of recent deals involving large 401(k)-focused firms and a more varied group of buyers have led some experts to believe that...

Have 403(b) lawsuits hit a wall? Fifth university wins dismissal

January 9, 2019

Losses continue to mount for university employees suing their schools over allegedly excessive retirement-plan fees. Georgetown University became the fifth defendant to successfully beat back such claims in court. Roughly two dozen lawsuits...

Why MEPs aren't right for all 401(k) plan sponsors

January 2, 2019

Multiple-employer plans, or MEPs, are all the rage these days, and some variation of the offering is expected to become law in the near future. MEPs allow smaller companies to partner up, thus becoming "larger" plans, and are marketed as providing...

Market downturn could accelerate 401(k) record-keeper consolidation

January 2, 2019

Plan advisers would be wise to watch the 401(k) record-keeper market closely as it enters its next phase of consolidation, which may begin soon. As plan advisers look to cut back on the number of their provider partners, picking on the wrong...

3 ways to add extra value for 401(k) clients

January 2, 2019

Retirement plan advisers increasingly need to stand out from the pack to win clients. This may seem obvious, but most advisers don't seem to be doing much to differentiate themselves. To get advisers started on the right path, here is a short...

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

December 19, 2018

A bill introduced in the Senate would allow employers to pair workers' student loan payments with 401(k) savings. Ron Wyden, D-Ore., the ranking member on the Senate Finance Committee, sponsored legislation on Tuesday that would give plan sponsors...

How advisers can help 401(k) plans manage the risk of missing participants

December 18, 2018

The Department of Labor is aggressively investigating plan sponsors and asserting fiduciary breaches for failure to perform rigorous and ongoing searches for missing participants. Advisers who work with retirement plans should be educating plan...

Lack of investment options plague HSAs

December 17, 2018

Health savings accounts are getting more popular and some retirement plan advisers, hoping to capitalize on the trend, are integrating them into a service offering for 401(k) clients. But there are a few stumbling blocks. One big hurdle: a dearth...

Oregon will help other states launch own auto-IRA programs

December 17, 2018

Oregon, which recently launched a statewide program to ensure all private-sector workers have access to an employer-based retirement plan, will partner with other states that want to adopt a similar framework, with the aim of easing the launch...

Edward Jones settles 401(k) lawsuit for $3.2 million

December 13, 2018

Edward Jones will pay $3.2 million to settle a lawsuit alleging the firm enriched itself at the expense of employees through mismanagement of its company 401(k) plan. The lawsuit, which was filed in August 2016, claimed the brokerage firm stacked...

Richard Neal: the new face driving retirement policy in Washington

December 6, 2018

Retirement policy will have a new face in Washington next year, and that could mean major changes to the 401(k) industry. Rep. Richard Neal, D-Mass., will become chairman of the House Ways and Means Committee when Democrats take control of the...

Retirement chatbot tells the real story about investors' greatest retirement questions

December 6, 2018

If clients could ask any single question about retirement without any fear of judgment or embarrassment, what would it be? Contrary to what many advisers think, or hope, investing advice is far from their top concern. What people really want...

Here's where elite 401(k) advisers are focusing their energy

December 5, 2018

Elite retirement plan advisers, the ones most specialized in retirement plans, are primarily focusing on referrals and financial wellness to grow their practices and better service clients. Based on new research conducted by The Retirement Advisor...

Vestwell and BNY Mellon partner on 401(k) plans, auto-IRAs

December 5, 2018

Bank of New York Mellon Corp. and robo-adviser Vestwell Holdings Inc. have inked a deal to partner on workplace retirement programs such as 401(k) plans and auto-IRAs. Under the partnership, Vestwell will serve as the technology backbone underpinning...

BB&T settles 401(k) lawsuit for $24 million

December 4, 2018

Branch Banking and Trust Co. will pay $24 million to settle a lawsuit alleging it profited from its 401(k) plan at the expense of its employees, one of the largest settlements to date reached by a financial firm involved in such litigation....

Annuity and mutual fund interests at odds over 401(k) disclosures

November 29, 2018

A fight is breaking out over retirement legislation that the U.S. Congress is trying to jam through before year's end, pitting insurance and mutual fund groups, as well as large 401(k) providers, against each other. The rancor concerns just...

Large broker-dealers expand how they work with small 401(k) plans

November 28, 2018

Large brokerage firms are giving more attention to how their financial advisers do business with small 401(k) plans. Firms such as UBS Wealth Management Americas, Raymond James, LPL Financial, Morgan Stanley Wealth Management, Merrill Lynch...

Congress tries to jam through retirement legislation by year-end

November 27, 2018

Congress is making one final push to get retirement legislation passed by the end of the year, with provisions promoting more 401(k) plan formation and greater use of annuities hanging in the balance. Kevin Brady, chairman of the House Ways...

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