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Dalbar rates 401(k)s with up to five stars and tells plan sponsors what they can do to improve their plans on the basis of environmental, social and governance criteria.
As the two agencies release their regulatory agendas, the SEC is also proposing to revisit rules promulgated last year when the agency was headed by former chairman Jay Clayton.
The new class-action suits against the three employers allege fiduciary breaches. Two defendants in other cases recently reached settlements over $1 million.
Tax-rate changes have minimal effect on the financial benefits of Roth conversions, Edward McQuarrie, professor emeritus at Santa Clara University, wrote in a recent paper. The most important factor is actually compounding.
Under the bill, businesses in the state that have been operating for at least two years and have at least 10 employees would be required to participate. The state passed legislation in 2018 to establish a voluntary IRA system for the private sector, but it has yet to implement that program.
The service gives 401(k) participants access to 50 different cryptocurrencies that they can buy, trade or sell, according to the 401(k) provider ForUsAll.
Among retirement plan participants, about 90% said they are interested in retirement-income products and that having guaranteed income would be a plus, according to a BlackRock survey.
John Hancock and Lowe's are paying millions to settle class-action claims, while a new lawsuit was filed against Northern Trust that rehashes old claims.
The Retirement Research Center recently surveyed elite RPAs, half of whom had more than $300 million in DC assets under advisement.
Sue Reibel, who joined Hancock’s parent firm in 1994, will be named chief executive of the firm and was most recently the global head of Manulife Investment Management retirement.
Last year, the Department of Labor closed less than a third of the number of cases it did in 2014, but total recoveries were six times higher.
The State Street plan did not include the lowest-cost share classes of the Target Retirement Securities Lending series, and there were some options from third parties with stronger performance records, according to the complaint.
Though RPAs loathe comparisons to law firms, advisers are professional service providers like lawyers and accountants who charge based on the work and time spent. More experienced professionals can charge a higher hourly rate – and last time I checked, few of them are hurting.
The measure proposed by Sens. Warren and Daines addresses the $8.5 billion sitting in lost retirement plan accounts.
The firm is reducing fees and is adding a mutual fund version of its Retirement Blend series, which has existed since 2018 in CIT form.
A class-action lawsuit alleges that the company breached its fiduciary duties in connection with a change in the investment menu. Most of the assets in the $1.4 billion plan went into Russell Investment target-date funds, according to the complaint.
The legislation introduced Thursday would amend the Employee Retirement Income Security Act to specifically allow plans to consider ESG factors 'when they are expected to have an impact on investment outcomes, provided plans consider them in a prudent manner consistent with their fiduciary obligations.'
Best Buy and ADP have joined Voya, UPS, Mastercard and others in working with BlackRock's Emergency Savings Initiative.
Companies that have waded into the PEPs business as pooled plan providers see tax-exempt organizations as very attractive, having even more potential than groups eligible to operate 401(k)s.
The states advanced respective bills, with the one in New York amending its voluntary IRA law to an automatic design and the one in Illinois dramatically lowering the threshold for mandatory participation in its existing program.
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