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BY John Sullivan 3/14/2024
Tom Hansen and Tony Michael didn’t like the limitations of the recordkeeping software available on the market, so they built their own.
The proprietors of inVesti Financial developed inVesti-RKS (Record Keeping Services) platform and successfully integrated this week with UMB Bank and Matrix...
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BY Nevin E. Adams, JD 3/14/2024
In a lengthy filing (109 pages), Yale University says the plaintiffs who lost their excessive fee case in a jury trial shouldn’t get a “do over.”
More specifically, the Yale fiduciary defendants in that case have filed the aforementioned brief stating that the Second Circuit need not concern...
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BY John Iekel 3/14/2024
The IRS has confirmed that they expect to fix a system-wide glitch that has resulted in improperly withheld refunds of erroneous penalties related to Form 8955-SSA filings.
Kelsey Mayo, the American Retirement Association’s Director of Regulatory Policy, reports that some plan sponsors’ refunds...
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BY John Sullivan 3/14/2024
Retirees are generally happier in retirement than in the workforce, but like many things in life, there are gaps between expectation and reality according to the latest MassMutual Retirement Happiness Study.
"The happiest retirees invest not just in their financial futures but also in their social...
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BY John Sullivan 3/13/2024
It’s been several years since the pandemic began, and its impact is still felt, as many Americans now opt for a non-traditional approach to retirement.
According to Fidelity Investments, 66% of respondents say the pandemic made them more “intentional” about focusing on their personal passions and...
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BY John Sullivan 3/13/2024
Millennials are defining retirement by independence rather than age.
Accroding to a recent survey from IRALOGIX, over half say retirement is defined not by age 65 but by financial independence where they can indulge their lifestyles without relying on traditional employment.
When asked if they...
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BY John Sullivan 3/13/2024
A new study finds that people who rely on "deferred tax" accounts to save for retirement may exhaust their savings faster than people who use "currently taxed" accounts.
In the U.S., some retirement savings instruments are deferred tax (DT) accounts, in which users pay taxes on the money only when...
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BY David Witz 3/12/2024
In a recent article published by NAPA titled “Litigation Landscape: Targeting TDFs, ‘Meaningful’ Markers and Pre-Litigation Letter Campaigns,” authors Bonnie Treichel and Nevin Adams both highlight the importance of proper documentation by plan sponsors to mitigate litigation risk.
Many other...
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BY Nevin E. Adams, JD 3/12/2024
An excessive fee suit decision that starts out noting that the “defendants are fiduciaries of a 401(k) plan that, between 2016 and 2022, substantially reduced the recordkeeping fees charged to plan participants” doesn’t bode well for the plaintiffs.
And in fact, the very next sentence—from U.S....
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BY Nevin E. Adams, JD 3/12/2024
As St. Patrick’s Day approaches, I’m reminded of a trip my younger brother and I made with my grandparents to the Great Smoky Mountains.
Now, my grandparents had made many trips to that area, but it was a new experience for me and my brother. To this day I remember a hotel that had a pool with a...
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