Results for "retirement plan advisers"

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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...

Average 401(k) balances dropped 10% in fourth quarter, says Fidelity

January 31, 2019

The average 401(k) balance dropped 10%, to $95,600, in the fourth quarter of 2018, down from the record high balance of $106,500 in the third quarter, according to a quarterly analysis from Fidelity Investments. The year-over-year average 401(k)...

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...

Hub-Sheridan Road latest deal to heat up M&A among 401(k) advice firms

January 10, 2019

Acquisitions of financial advisory firms focused on the retirement-plan market appear to be gaining momentum. A handful of recent deals involving large 401(k)-focused firms and a more varied group of buyers have led some experts to believe that...

Have 403(b) lawsuits hit a wall? Fifth university wins dismissal

January 9, 2019

Losses continue to mount for university employees suing their schools over allegedly excessive retirement-plan fees. Georgetown University became the fifth defendant to successfully beat back such claims in court. Roughly two dozen lawsuits...

Why MEPs aren't right for all 401(k) plan sponsors

January 2, 2019

Multiple-employer plans, or MEPs, are all the rage these days, and some variation of the offering is expected to become law in the near future. MEPs allow smaller companies to partner up, thus becoming "larger" plans, and are marketed as providing...

3 ways to add extra value for 401(k) clients

January 2, 2019

Retirement plan advisers increasingly need to stand out from the pack to win clients. This may seem obvious, but most advisers don't seem to be doing much to differentiate themselves. To get advisers started on the right path, here is a short...

Market downturn could accelerate 401(k) record-keeper consolidation

January 2, 2019

Plan advisers would be wise to watch the 401(k) record-keeper market closely as it enters its next phase of consolidation, which may begin soon. As plan advisers look to cut back on the number of their provider partners, picking on the wrong...

New bill links 401(k) matches to student loan payments

December 19, 2018

A bill introduced in the Senate would allow employers to pair workers' student loan payments with 401(k) savings. Ron Wyden, D-Ore., the ranking member on the Senate Finance Committee, sponsored legislation on Tuesday that would give plan sponsors...

How advisers can help 401(k) plans manage the risk of missing participants

December 18, 2018

The Department of Labor is aggressively investigating plan sponsors and asserting fiduciary breaches for failure to perform rigorous and ongoing searches for missing participants. Advisers who work with retirement plans should be educating plan...

Lack of investment options plague HSAs

December 17, 2018

Health savings accounts are getting more popular and some retirement plan advisers, hoping to capitalize on the trend, are integrating them into a service offering for 401(k) clients. But there are a few stumbling blocks. One big hurdle: a dearth...

Oregon will help other states launch own auto-IRA programs

December 17, 2018

Oregon, which recently launched a statewide program to ensure all private-sector workers have access to an employer-based retirement plan, will partner with other states that want to adopt a similar framework, with the aim of easing the launch...

Edward Jones settles 401(k) lawsuit for $3.2 million

December 13, 2018

Edward Jones will pay $3.2 million to settle a lawsuit alleging the firm enriched itself at the expense of employees through mismanagement of its company 401(k) plan. The lawsuit, which was filed in August 2016, claimed the brokerage firm stacked...

Richard Neal: the new face driving retirement policy in Washington

December 6, 2018

Retirement policy will have a new face in Washington next year, and that could mean major changes to the 401(k) industry. Rep. Richard Neal, D-Mass., will become chairman of the House Ways and Means Committee when Democrats take control of the...

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