Results for "defined benefit plans"

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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...

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...

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...

Kestra loses $11 billion retirement group to LPL

April 4, 2019

Strategic Retirement Partners, an advisory firm with $11 billion in retirement plan assets, has joined GRP Financial, the largest retirement-plan-focused hybrid RIA that uses LPL Financial as its broker-dealer. Strategic Retirement Partners,...

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...

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...

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...

Why the 4% rule may be irrelevant

March 27, 2019

The 4% retirement withdrawal rule has enjoyed a ubiquitous presence in the world of financial planning ever since William Bengen proposed it in 1994. Mr. Bengen's rule states that individuals should withdraw no more than 4% of their retirement...

The U.S. retirement system is far too complex

March 21, 2019

For the past decade, the financial services industry has engaged in a heated debate over the appropriate market conduct standard for investment advice. The debate is ratcheted up a notch in the retirement arena, where the Department of Labor...

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...

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....

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...

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...

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...

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...

Defined-contribution plans showing returns closer to those of pensions

March 1, 2018

In the past decade, defined contribution plans have seen returns creep closer to those of their defined benefit brethren, as more DC plans have seen improved asset mixes and better plan designs, with more automatic enrollment and better default...

Careful planning can help public employees avoid Social Security reductions

August 9, 2016

Nothing angers public employees more than rules that reduce the Social Security benefits they have earned by working in the private sector when they are also eligible for a government pension based on work where they did not pay FICA taxes....

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