Results for "403(b) plans"

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Principal-Wells Fargo retirement deal would be among largest ever

March 18, 2019

There would be a new behemoth among record keepers of defined-contribution plans if Principal Financial Group were to follow through on a reported deal to acquire Wells Fargo & Co.'s retirement-plan unit. The deal — which could fetch more...

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...

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...

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...

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...

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...

HSAs give asset managers distribution outlet for in-house funds

January 30, 2019

Health savings accounts are getting more popular, and it's no surprise asset managers and retirement plan record keepers are debuting products to jump on the bandwagon. Voya Financial Inc. launched its first HSA platform last week, following...

401(k) plans boost company match due to tax reform, labor market

January 28, 2019

Tax savings that businesses have realized as a result of tax reform and the competitive labor market are leading employers to increase the amount of money they give employees in the form of a 401(k) match, according to retirement plan advisers...

American Century wins 401(k) lawsuit over in-house funds

January 25, 2019

American Century Investments won a class-action lawsuit alleging the asset manager profited from its company 401(k) plan at the expense of employees by loading the retirement plan with in-house funds. Judge Greg Kays of the U.S. District Court...

How advisers can help 401(k) clients with auto-rollovers

January 23, 2019

Retirement advisers looking to make positive changes in 2019 should resolve to help 401(k) clients arrange for mandatory distributions to rollover IRAs.​ Advisers can help plan sponsors trim their administrative costs, reduce fiduciary risks...

What type of fiduciary should retirement plan advisers be?

January 22, 2019

For many 401(k) plan advisers, the Department of Labor fiduciary rule was a nonevent. The question for advisers was not whether they would act as a fiduciary, but what kind: a 3(21) or 3(38) fiduciary? Now that the DOL rule has been vacated,...

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...

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