Results for "defined contribution plans"

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Bank of America unveils special designation for 401(k) advisers

February 9, 2010

Bank of America Merrill Lynch is establishing an elite new designation for financial advisers who want to work with large 401(k) plan clients. The new designation is part of the bank’s push to become a bigger player in the retirement space....

Government requests information on using annuities in 401(k)s

February 7, 2010

The Labor and Treasury department have put out a request for information on the use of annuities in defined-contribution plans. Both agencies are reviewing the Employment Retirement Income Security Act of 1974, as well as the plan qualification...

Retirement plan groups lobby Congress to allow Roth 401(k) conversions

January 24, 2010

Worried about losing some of the $3 trillion in assets they oversee, defined-contribution-plan administrators have forged a coalition with plan sponsors and retirees to lobby Congress to allow Roth conversions for 401(k) plan participants. The...

Putnam to launch guaranteed fund early next year

December 8, 2009

Putnam Investments is planning to launch a mutual fund with a guarantee in the first quarter of next year. The company also is discussing developing a mutual fund that would use a combination of absolute-return strategies with puts and calls...

Treasury and DoL eyeing regulation of retirement income

December 3, 2009

The Labor and Treasury departments are discussing jointly submitting a request for comment from members of the retirement income industry to determine if there needs to be regulation of the market. “There has been an increasing interest in...

Report: Target date funds expected to boom by 2018

November 29, 2009

Total assets in target date funds will grow to $2.6 trillion by 2018, attracting 80% of new and reallocated flows into defined-contribution plans for the next decade, according to a projection in a recent Casey Quirk & Associates LLC report....

401(k) holders made out OK, says Fidelity

November 20, 2009

If you had a good mix of stocks and bonds in your retirement account and you left it alone through the market madness of the past year, more than likely you're in good shape now. A report by Fidelity Investments released Thursday shows an unexpectedly...

John Hancock retirement unit to open up its retirement plan products to Edward Jones

September 15, 2009

John Hancock Retirement Plan Services today kicked off a relationship with Edward D. Jones & Co. LP, providing the firm’s financial advisers with access to its retirement plan products. Edward Jones advisers now have access to John Hancock’s...

Automatic enrollment quadruples over three-year period among retirement plans run by Vanguard

August 26, 2009

About 20% of the defined contribution plans administered by The Vanguard Group Inc. had adopted automatic enrollment by the end of last year, up from just 5% three years earlier, according to a recent study by Vanguard. “How America Saves...

Sales of 'investment-only' assets shrank less than retail funds, FRC finds

June 2, 2009

Money managers saw assets sold through unaffiliated third-party defined contribution record keepers shrink less than their retail mutual funds last year, according to a report released yesterday by Boston-based Financial Research Corp. Of the...

Target date funds shouldn’t stand alone, most investors believe

May 29, 2009

Two-thirds of investors believe that target date funds need to be combined with other funds to achieve a proper mix for their retirement portfolios, a white paper released yesterday by Janus Capital Group Inc. of Denver suggests. Target date...

More workers move 401(k) savings to stable-fund investments

May 17, 2009

Stable-value funds are the safest investment option available to 401(k) plan participants, but recent problems at two funds illustrate why sponsors should exercise caution in selecting them, according to observers. Stable-value funds invest...

Mercer hires two to bolster DC plan outsourcing

May 12, 2009

Mercer LLC of New York announced today that it has hired two market leaders for its defined contribution plan administration-outsourcing service. Sharan Mitchell Carlisle will serve as market leader for the Great Lakes region, and Steve Gordon...

Putnam chief aims to spearhead revamp of 401(k) industry

May 6, 2009

By Mark Bruno Investment executives and retirement plan officials will band together over the next several months to propose some radical enhancements to the nation's 401(k) system, said Robert Reynolds, president and CEO of Boston-based Putnam...

Size of plan, pay-in rates help lower retirement plan fees, survey says

April 14, 2009

Lower fees for defined contribution retirement plans are related to factors such as the size of the plan, higher contribution rates by employers and employees, and greater use of automatic enrollment. Those were the findings of a study released...

Mercer to offer DC admin services direct to advisers

March 25, 2009

Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston. The firm offers consulting, outsourcing...

Bosses, workers starve DC plans

March 25, 2009

Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today. Meanwhile, 20%...

Putnam stakes claim in 401(k) market

March 25, 2009

Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market. The platform will provide plan sponsors with a range of investment choices, plan designs...

Retirement assets plunged 25% in '08

March 18, 2009

The nation's retirement assets shrank by nearly 25% last year and lost more than $2.4 trillion in market value, according to a new report from Chicago-based Spectrem Group. Total assets held in retirement plans — both traditional defined-benefit...

MFS forms DC investment only office

October 28, 2008

MFS Investment Management of Boston announced today the formation of a business development office for the defined contribution investment only market. Matt Gannon will serve as senior vice president and director of DCIO and strategic alliances...

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