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...

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...

Pete Buttigieg proposes a 'public' 401(k) program

November 26, 2019

Pete Buttigieg, the mayor of South Bend, Ind., who is currently polling among the top contenders for the Democratic presidential ticket, issued a proposal that would create a federal 401(k)-type plan and require employers to contribute a 3%...

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...

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...

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....

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....

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....

Pensions offer the self-employed flexibility

December 5, 2010

As of late, most financial advice regarding retirement options has been geared toward company employees. While that covers the largest demographic of working individuals, many Americans do not fall into this category. More than 12% of American...

Industry group asks DOL for guidance on finding missing participants

July 26, 2018

The ERISA Industry Committee is asking the Department of Labor to develop guidance for plan administrators tasked with finding missing terminated vested participants. In a letter Wednesday to Preston Rutledge, assistant secretary of labor for...

Appeals court says university cannot force ERISA lawsuits into arbitration

July 25, 2018

A federal appeals court ruled Tuesday that the University of Southern California cannot compel participants in two retirement plans to accept arbitration rather than proceed with a trial to address ERISA complaints against university fiduciaries....

ING closes $900M CitiStreet acquisition

July 1, 2008

ING Groep announced today that it completed the acquisition of CitiStreet LLC, one of the premier retirement plan and benefit service organization’s in the United States. The deal makes Hartford, Conn.-based ING Wealth Management, a division...

Chattanooga pension fund accuses Wells Fargo of fraud in revenue sharing

May 10, 2018

The Chattanooga, Tenn., Fire and Police Pension Fund intends to file a whistleblower complaint with the Securities and Exchange Commission and Commodity Futures Trading Commission against Wells Fargo, its custodian and trustee, alleging potential...

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,...

As longevity stalls, corporations enjoy a windfall on pensions, benefits

August 8, 2017

Steady improvements in American life expectancy have stalled, and more Americans are dying at younger ages. But for companies straining under the burden of their pension obligations, the distressing trend could have a grim upside: If people...

Industry rails against claims the 401(k) should be "retired'

October 25, 2009

Providers of 401(k) plans have lambasted a critical article published Oct. 9 in Time magazine denouncing the 401(k) system. In “Why It's Time to Retire the 401(k),” Stephen Gandel argued that the 401(k) system isn't a sufficient vehicle...

Top earners took hardest hits to their 401(k)s, EBRI study finds

August 5, 2009

The median asset levels in 401(k) plans dropped at least 15% from yearend 2007 to mid-June 2009, but the affluent and wealthy saw much heftier losses, according to a report released yesterday. The analysis — by the Washington-based Employee...

It's time to 'fix' the 401(k) plan

April 26, 2009

There is a crisis in defined contribution retirement plans. In addition to devastating market losses, employers are ceasing their matches. Many target date funds, designed to protect participants' plan balances as they approach retirement, have...

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