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The Spark Institute's standards build upon DOL cybersecurity guidance to provide more clear-cut practices designed to defeat retirement account fraud.
A Fidelity survey shows sponsors also want lower fees, more retirement expertise and a better investment lineup.
Who deserves to service and monetize the participants? The answer to that is whoever works the hardest, within the limits of the law, in a professional, conflict-free manner.
Empower is already the second-biggest U.S. plan provider by number of participants, behind Fidelity. The deal will add $314 billion in assets among 4,300 plans, boosting Empower's size to $1.4 trillion among 71,000 plans.
Former Voya, Nuveen exec Mike De Feo will head the company’s new business line.
The pandemic has created concerns about retirement security among millennials and Gen Xers.
The acquisition will leave Empower with a $1.4 trillion defined-contribution business with about 71,000 plans.
The acquired business was the pension administration arm of Friedman, a New York-based CPA firm.
Given their limited savings, current low interest rates and the ongoing rise in prices and out-of-pocket health care costs, most boomers need a financial lifeline.
Policyholders saw an 85% bump in their premiums in 2015, despite assurances when they signed up that rates would not increase.
The training is designed to help retirement plan advisers evaluate environmental, social and governance investing opportunities.
Continued inflationary pressures could result in the largest cost-of-living increase in benefits since 1983.
The retirement plan provider created its managed account program in 2019.
More money flowed to equities than fixed income in the second quarter, according to data compiled by Alight Solutions.
The political infighting won't affect the $1 trillion in benefits Social Security sends each year to 65 million Americans. But it will likely make it more difficult to begin work on a solution to the program's long-term financial challenges.
Employees of select large client plans can use an array of tools and speak with an adviser.
While the provision helps level the playing field, prominent industry observers, like Michael Kitces, worry the benefit is too narrow. Investment Adviser Association, and other groups, are pushing for a broader tax deduction.
Financial preparedness is only a piece of the equation; clients must understand the impact retirement will have on every part of their lives.
The DOL could issue guidance “to ensure that plan participants and beneficiaries with access to a brokerage window are adequately informed and protected under ERISA."
Starting in 2022, the Thrift Savings Plan will offer a new mutual fund window that will include ESG funds.
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