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BY John Sullivan 10/2/2023
October is cybersecurity month, “something that pairs nicely with Octoberfest,” American Retirement Association CEO Brian Graff joked during a panel called “Fulfilling Cybersecurity Oversight Requirements” at the ERISA 403(b) Conference in Washington, D.C. on Monday.
It was a moment of levity in...
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BY John Sullivan 10/2/2023
“403(b)s are not 401(k)s, and damage is done by not understanding the difference,” PenServ Plan Services President Sue Diehl emphasized at the outset of a session dedicated to a comparison of the two at the ERISA 403(b) Advisor Conference in Washington, D.C. on Monday.
She then listed several...
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BY John Sullivan 10/2/2023
Concerns about increasing partisanship in traditionally bipartisan retirement policy and legislation was the theme of a conversation between Brian Graff and Preston Rutledge at the NAPA/NTSA ERISA 403(b) Advisor Conference in Washington, D.C., on Monday morning.
Graff, CEO of the American...
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BY Nevin E. Adams, JD 10/2/2023
Noting that "the settling parties agreed to the proposed settlement only after vigorous arm's-length negotiations between counsel experienced in ERISA class actions and under the auspices of … a third-party private mediator with extensive experience mediating ERISA actions”—the parties in yet...
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BY Ted Godbout 10/2/2023
The answer to that apparently is a resounding yes, as younger investors desire financial advice, but most are priced out of the option they demand most—having a holistic, ongoing relationship with a trusted financial advisor.
A new report from Cerulli Associates suggests, however, that retirement...
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BY John Iekel 10/2/2023
Uniformity and universality are not hallmarks of retirement plan coverage. A new report offers a look at who in the private sector is most likely to have access to a plan and to be covered.
The Department of Labor’s Bureau of Labor Statistics (BLS) on Sept. 21, 2023 released the March 2023...
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BY John Sullivan 9/29/2023
Student loans are again making headlines, and October marks the resumption of payments for borrowers after a lengthy COVID-related hiatus, a politically controversial issue affecting over 45 million Americans.
One would think it would mainly impact younger workers, yet “even seasoned employees are...
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BY John Sullivan 9/29/2023
The Securities and Exchange Commission (SEC) doled out significant penalties to five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisors for “widespread and longstanding failures to maintain and preserve electronic communications...
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BY John Sullivan 9/29/2023
Fraud involving faulty distributions and takeovers of client accounts and retirement plans is an ongoing concern, and the anxiety over potentially losing savings that took a career to build (and just who might be liable) is growing.
High-profile lawsuits from participants over security breaches—a...
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BY Ted Godbout 9/29/2023
In a move that would allow more individuals to save more for their health care expenses in retirement, the House Ways and Means Committee on Sept. 28 approved legislation to significantly expand the health savings account (HSA) contribution limits, as well as broaden the number of individuals...
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