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A federal judge has reviewed—and approved—an excessive fee settlement agreement, albeit with some modifications. The participant-plaintiffs in this case are Salvador Aquino, Susan Ford, Monicalayle Garcia, Barbara Kraus, Martha Lopez, Francisco Martinez, Megan Sargent[i]—bringing suit on behalf of... READ MORE
Adoption of retirement income solutions within defined contribution (DC) plans hasn’t happened at the rate many thought possible, but the tide may finally be turning, according to one organization. In its annual list of top retirement industry trends to watch in 2024, the Institutional Retirement... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has work to do in order to accomplish its mission and better serve plans and participants, says a newly released report by the PBGC Participant and Plan Sponsor Advocate.  The 2023 Annual Report of the Participant and Plan Sponsor Advocate Pension... READ MORE
While target date funds (TDF) flourish, managed accounts haven’t caught on as a qualified default investment alternative (QDIA), mainly due to higher fees and a struggle by participants to fully realize the benefits of customization. But that will soon change, according to Wilshire, who admittedly... READ MORE
Well, here we are again at the end of yet another workweek …and even though 2024 is barely underway…well, just look at what happened to these guys and gals… In Edmond, Oklahoma, Oakley is alive and well today…thanks to the actions of Binx…a cat…who saved Oakley, a dog from…well, you’re not going... READ MORE
Coming on the heels of the Labor Department’s proposed investment advice fiduciary rule, a new national survey reveals that older adults not only expect that financial advice will be in their best interest but believe that it should be a requirement. The findings come via AARP, which conducted a... READ MORE
Franklin Templeton is making news—first with its blockbuster acquisition of Putnam Investments (and the talent that comes with it) and now in the financial wellness space. The San Mateo, California-based investment giant will team with AI wealth platform TIFIN to launch TIFIN @Work, a... READ MORE
The IRS has updated Form 8881, Credit for Small Employer Pension Plan Startup Costs, Auto-Enrollment, and Military Spouse Participation, for 2023 filing to reflect provisions in SECURE 2.0 intended to expand coverage and increase retirement savings.  The revisions to Form 8881 under the SECURE 2.0... READ MORE
Hub International Limited kicked off the new year by further enhancing its retirement and wealth management services in Florida with its latest acquisition. According to the Jan. 4 announcement, the full-service global insurance brokerage and financial services firm has acquired the assets of... READ MORE
Not wasting any time to start the new year, the House Financial Services Committee has announced a hearing to examine the Department of Labor’s proposed rule on the definition of investment advice fiduciary. More specifically, the hearing titled “Examining the DOL Fiduciary Rule: Implications for... READ MORE
The Diversity Committee asked you, the members, for a wish list for programming to support inclusivity in the industry. With everything you must manage daily, how do you prioritize tasks? Is it a list of needs vs. wants? This has been one of the questions the ARA Diversity Committee has tackled... READ MORE
New year, new forms. The Department of Labor’s Employee Benefits Security Administration (EBSA) on Jan. 1 released the Form 5500, Form 5500-SF, and Form 5500-EZ for reporting concerning the 2023 plan year.  The DOL released informational copies of these forms on Nov. 17; they were intended to... READ MORE
The independent, fee-only investment adviser didn’t take too kindly to a story in The Wall Street Journal claiming that the firm was in talks to be acquired. The article first posted Jan. 2 by the Journal had reported that Fisher Investments was participating in discussions to be acquired by... READ MORE
ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock... READ MORE
In our comment letter submitted to the Department of Labor (DOL) on Jan. 2, 2024, the American Retirement Association (ARA) expressed support for—yet specific issues with—the department’s proposed definition of “fiduciary investment advice” and amendments to PTE 2020-02. The rulemaking package,... READ MORE
Mariner Wealth Advisors, the Overland Park, Kan.-based national wealth advisory firm, announced that it has expanded its presence in California by acquiring Sacramento-based Confluence Financial Planning and its $360 million in assets under management.   The acquisition established Mariner’s first... READ MORE
Even though a recession never materialized in 2023 and the economy defied expectations in many ways, the key economic question for 2024 is whether central banks can continue the “landing of the plane” without a recession, Bob Doll observes in his annual list of predictions. As he has for more than... READ MORE
A number of lawsuits have recently been filed regarding the alleged misuse of forfeitures—but just a couple of months ago a plan was sued—and lost—a case brought by the Labor Department for not following the plan document’s forfeiture provisions. According to the Labor Department, on Dec. 27, 2017... READ MORE
There is a “common wisdom” in our business that suggests that all plan sponsors are, more or less, alike; that large plans are the inevitable early adopters of trends that, sooner or later, trickle down to plans of all sizes. Consequently, those who make their living trying to discern trends and... READ MORE
  With an increase in longevity and the demise of corporate pension plans, it is hardly a surprise to note there are more “older” Americans in the workforce, at least when analyzing demographic trends in recent decades. Pew Research Center recently did just that—quantifying how quickly the cohort... READ MORE
Call it the not so Solo 401(k). We’ve received questions from some American Retirement Association (ARA) members regarding the impact of the long-term part-time employee rules (LTPTE rules) on Solo 401(k) plans. Many sponsors of Solo 401(k) plans were given advice, and established plans with the... READ MORE
Well, here we are again at the end of yet another workweek …and another year—and yet, there’s (still) no shortage of…well, just look at what happened to these guys and gals… In Boston, Massachusetts, things got a little too real in a live nativity scene here…with certain parties taking it on the “... READ MORE
Good tidings for Vestwell came just before Christmas with news that the digital retirement plan platform and recordkeeper raised $125 million in Series D funding. The company claimed the size of the round was one of the largest Series D SaaS of the year. A letter-style press release from... READ MORE
We continue with the second part of our countdown of the most clicked stories of the past year. The first part is here. There were some surprises and some entirely predictable, but a look back reinforced just how much happened in the retirement plan space and how far we came in the drive to secure... READ MORE
A billion-dollar plan has come to terms—cash and non-monetary terms—with participant-plaintiffs represented by Capozzi Adler that had made claims the plan paid $77 per participant, when plans of similar sizes were paying as little as $25 per participant. The suit had been filed against Advance... READ MORE

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