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Participants say plan websites are frustrating
A J.D. Power study finds that only 43% of users say it’s easy to locate needed information on retirement plan sites.
NVIDIA 401(k) lawsuit swatted down, for now
The court granted a motion to dismiss the claims against the company, although the plaintiffs have 30 days to amend their complaint to address its shortcomings.
Putting Social Security’s financial outlook in perspective
The acceleration in the projected depletion of the trust fund is bad, but given that this was the first report to include the effects of the pandemic-induced recession, the news could have been worse.
HSA assets hit $92.9 billion through first half
The year-over-year increase in assets in health savings accounts is 26%, while the number of accounts now totals 31 million, up 6%.
US lags on retirement security, global report finds
The country, which placed 17th in the global ranking, falls short due to income inequality, high health care costs and other factors, according to Natixis.
Why financial wellness is a dismal failure and a huge success
The DC industry must be realistic and admit that financial wellness is largely a failure, an acknowledgment that's a key step on the road to success. Because we cannot afford to fail.
House tax proposal would close door on popular back-door Roth IRA conversions
The Ways and Means Committee approved $2.3 trillion in tax hikes to pay for the Biden administration's sweeping social and climate spending plan.
DOL proposal throws cold water on group-of-plans model
A proposed regulatory change wouldn't allow a single group of plans to have a consolidated audit, meaning that every participating employer of a certain size would have to have an annual audit.
Medicare open enrollment begins Oct. 15
Clients don't have to make any changes, but they may be able to save money by re-shopping their prescription drug coverage.
Morgan Stanley, Empower to expand joint plan solutions
The agreement will help Morgan Stanley at Work deliver services to small-business retirement plans.
Captrust leads group launching small-plan service
T. Rowe Price and National Benefit Services join Captrust in providing the program, which offers an alternative to multiple employer plans and pooled employer plans.
Lawsuit over 401(k) fees, active target-date series fails
Comparing actively managed funds on the plan menu to index funds that were available was not an ideal comparison, according to the court.
Annuities are now a big business for PE firms
Private equity firms' insurance companies accounted for more than 40% of all indexed annuity sales industrywide during the second quarter.
Target-date funds hold 27% of 401(k) assets, study finds
The funds are most popular with younger plan participants; 62% of those in their 20s hold the funds, compared with 50% of those in their 60s.
House committee approves auto-IRA legislation
Two Democrats joined all Republicans on the panel in opposing the measure, which is designed to expand workplace retirement savings and would impose a tax on businesses that don't set up plans.
UK experience suggests small-business plan mandate works
Most employers find administration of a retirement plan to be ‘easy,’ and participation in retirement plans rises significantly.
Rocket Dollar IRA platform raises $8 million
The Series A funding round aims to increase the use of alternatives such as real estate and private equities in retirement accounts.
Mariner Wealth Advisors extends PE-backed buying spree
The addition of The Pinnacle Group, a $600 million Ohio-based RIA, marks the fifth deal by Mariner since it partnered with private equity investor Leonard Green & Partners in April.
J.P. Morgan, AIG to offer annuity tool for 401(k) plans
SmartRetirement Plus will pair J.P. Morgan's target-date funds with AIG's IncomEdge Control annuity to meet the needs of plan participants who would like to receive regular monthly income in retirement.
Fight over DC participants tests advisers’ partnerships with providers
Providers cannot hope to create a sales force that competes with the 25,000 RPA specialists and hundreds of thousands of RIAs that dabble. But once the plan is sold, who has the right and ability to monetize the participants?
