Results for "defined benefit plans"

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Adviser Alpha: How Amy Wolff Carved Out a Niche Serving Divorced Women

November 18, 2019

As competitive intensity in the financial advice industry ratchets up, it's not enough for advisers to create a financial plan, hit benchmarks and steer their clients toward retirement. Firms must establish a unique element of their business...

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....

Why commercial real estate belongs in client portfolios

October 28, 2019

At a time when many investors and investment professionals struggle to find attractive returns in a world of tissue-thin and even negative interest rates — and while wondering about the continuation of the record-long bull market in equities...

Fisher divestment tops $3 billion after Texas pension bolts

October 25, 2019

The state pension fund of Texas is pulling $350 million from Fisher Investments as more investors flee the firm following vulgar comments from its founder. "With respect to our fiduciary duty, we are defunding Fisher Investments," the pension...

Los Angeles pulls $500 million from Fisher

October 24, 2019

The Los Angeles fire and police pension decided to pull about $500 million from Ken Fisher after a contentious board meeting with representatives from the firm. On Thursday, the pension joined New Hampshire, Iowa, Michigan, Philadelphia and...

New Hampshire pulls $239 million from Ken Fisher

October 22, 2019

New Hampshire's state pension pulled the $239 million it had invested with Ken Fisher, bringing the total amount divested from the billionaire's firm to more than $2 billion. Tuesday's move by the New Hampshire Retirement System comes after...

Michigan pension fund pulls $600 million from Ken Fisher

October 14, 2019

The State of Michigan Retirement Fund's pension account, worth more than $70 billion, ended its relationship with the investment firm of Ken Fisher in the latest backlash to offensive remarks the billionaire made last week at a conference. Mr....

Taking a lump-sum pension payment? Watch out for bad boy brokers

October 8, 2019

The 100,000 former employees of General Electric who are being offered a pension buyout in the form of a lump-sum payment should keep a tight grip on their wallets if they decide to shop around for a financial adviser for guidance and help....

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...

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...

Goldman Sachs has what other 401(k) firms want

July 19, 2019

Goldman Sachs is poised to reap big profits from the 401(k) market. I'm not talking about its traditional asset management business, however — it's in wealth management that the firm could make its biggest mark. To many 401(k) industry executives,...

Whistle-blower Ted Siedle sees pensions as hotbed for fraud

May 10, 2019

Ted Siedle has a bleak outlook about U.S. retirement security. That's the case particularly with public pensions, which Mr. Siedle suggests are essentially hotbeds for fraud and theft. Mr. Siedle is a bit of an authority on the subject — he...

Finra panel awards $454,813 to lawyer who says Morgan Stanley mismanaged retirement fund

April 30, 2019

A Finra arbitration panel awarded $454,813 to a lawyer in a case against Morgan Stanley over how the brokerage managed his retirement fund. The Carpenter Law Firm defined-benefit plan alleged that Morgan Stanley failed to devise an appropriate...

Why 401(k) advisers should stress-test client portfolios

April 29, 2019

Managing risk and return is a central responsibility of every investment fiduciary. Asset allocation and securities selection are the blunt instruments used to shape the contours of a portfolio's risk and return profile. The process of building...

The drawback of Richard Thaler's 401(k)-Social Security idea? Social Security itself

April 22, 2019

Nobel laureate Richard Thaler's idea to increase retirees' Social Security payments by using a portion of their 401(k) accounts is drawing criticism from some corners of the financial-advice industry, primarily due to the current less-than-stellar...

Richard Thaler wants to use 401(k)s to boost Social Security payments

April 18, 2019

Nobel laureate Richard Thaler wants to mesh 401(k) plans with Social Security benefits to help Americans simplify what is perhaps their most daunting and complex financial issue: drawing down retirement assets. Mr. Thaler, who won the Nobel...

Principal-Wells Fargo retirement deal hints at fee compression

April 11, 2019

The blockbuster deal inked by Principal Financial Group and Wells Fargo & Co. earlier this week provides a glimpse into the economics prevailing in the defined-contribution-plan record-keeping business. Specifically, the deal's $1.2 billion...

Marsh & McLennan acquires Centurion, a $16 billion retirement group

April 3, 2019

Centurion Group, an advisory firm overseeing $16 billion in retirement plan assets and 400,000 plan participants, is being acquired by Marsh & McClennan Agency, a subsidiary of the national insurance brokerage Marsh. The deal, terms of which...

California wins auto-IRA lawsuit

April 2, 2019

California's auto-IRA program, CalSavers, survived a legal challenge that sought to nullify the state's new retirement vehicle, and some experts see the decision as a positive indicator for states that have similar programs and those considering...

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