Skip to main content

You are here

News Archive

Advertisement

News Archive

The parties in a suit brought against Eaton Vance by a participant in its $434 million plan for loading up its 401(k) plan with relatively expensive proprietary investment options that allegedly performed poorly have announced the terms of their settlement. The suit, filed in October 2018 in the U... READ MORE
With billions of dollars continuing to leave the retirement system early every year, a new report looks at factors that lead individuals to take early withdrawals, as well as policies that may help reduce the incidence.  In “Additional Data and Analysis Could Provide Insight into Early Withdrawals... READ MORE
The successful appeal of an excessive fee suit dismissal has triggered a review of another decision. The suit, involving the University of Pennsylvania Matching Plan, was given new life following an appellate court’s remand following dismissal by the district court. In 2015, Investment manager... READ MORE
The 2019 Retirement Confidence Survey (RCS) found a continued increase in retirement confidence – but some were more likely to be confident than others.  Confidence about retirement is one thing, of course, and preparation something else, though the two are logically intertwined. That said, for... READ MORE
Every week brings a new story of cyber breaches in the retirement industry. Many of these stories focus on service providers such as recordkeepers. Others focus on data and payroll security at plan sponsors. However, not to be forgotten are cybersecurity challenges for advisors. The SEC's Office... READ MORE
Attendees at the Plan Sponsor Council of America’s National Conference in Tampa got a sneak peek at the findings of the PSCA’s Inaugural Health Savings Account Survey. The general session panel – Kenneth Forsythe, Head of Product Strategy at Empower; and Glen Kvadus, VP at Optum Financial Services... READ MORE
If April showers bring May flowers, then the average 401(k) balance should be quite a bouquet! In April, the average 401(k) balance for those aged 25-34 with 1-4 years of tenure gained another 4.3% for the month, adding to the first quarter’s 15.3% surge.  As for older (age 55-64) workers with... READ MORE
Last week Secretary of Labor Alexander Acosta appeared to confirm that the Department of Labor will issue a new fiduciary rule. This week, we’d like to know what you think about that prospect – and its prospects. After the 5th U.S. Circuit Court of Appeals struck down the DOL’s previous fiduciary... READ MORE
“In the interest of efficiency and to avoid wasting the resources of the Court and the parties,” just five days before their trial date, the parties in an excessive fee suit have come to terms. This time it’s the investment advisor to the plan AON Hewitt Investment Consulting, Inc. – and their... READ MORE
A new whitepaper argues that qualified default investment alternatives (QDIAs) need to evolve to provide a best-in-class solution to better prepare participants for retirement.  In Willis Towers Watson's “QDIA evolutions – Moving defined contribution plans into the future,” author Jason Shapiro... READ MORE
Open MEPs are most likely to succeed if they offer a variety of plan and fund options along with lower costs than small businesses are paying now, according to a recent study.    With Congress considering proposals to expand multiple employer plans to give small business owners more options to... READ MORE
It was a blockbuster first quarter for M&A dealmaking in the wealth management arena, but RIA breakaways apparently saw an abrupt fall as advisors stayed put, an industry report reveals.   The first quarter 2019 edition of Echelon’s RIA M&A Deal Report notes that the 49 deals occurring... READ MORE
The plaintiffs in an excessive fee case have managed to keep their case alive on appeal – in a case that also has an intriguing dissenting opinion. The suit was not only one of the first of the university 403(b) excessive fee suits to be filed, the district court decision, in favor of the... READ MORE
A reader notes, “the MEP topic at the NAPA 401(k) Summit sparked some interesting discussion among advisors during the peer session” – and did so again in this week’s NAPA-Net Reader Poll. MEPs, or multiple employer plans – more specifically “open” MEPs – have long been touted as at least a... READ MORE
After several years of record-breaking plan and participant outcomes, 2018’s market turbulence appears to have contributed to an increase in troubling participant behavior.  T. Rowe Price’s “Reference Point” reveals that 401(k) pretax deferral rates continued to rise in 2018, increasing to 8.6% on... READ MORE
If you think you’ve had a bad week, just remember – it could have been worse. Check out what happened to these guys (and gals)…  In Millbrook, Alabama, Amber Lewis, 33, called police to report a burglary in progress at her home… except, as it turns out, there was no burglar… but you’ll never... READ MORE
Under questioning at a May 1 hearing on Capitol Hill, Secretary of Labor Alexander Acosta appeared to confirm that the Department of Labor will issue a new fiduciary rule.  Acosta appeared before the House Education and Labor Committee for a hearing to examine the policies and priorities of the... READ MORE
The Internal Revenue Service has announced the expansion of areas for issuing determination letters for certain retirement plans.  Revenue Procedure 2019-20, issued May 1, details two new issues for which retirement plan sponsors may now request determination letters: Statutory Hybrid Plans –... READ MORE
Capitol Hill and statehouses, federal and state regulators, bipartisan efforts and gridlock. An expert panel discussed recent developments at the federal and state levels in an April 30 session at the Plan Sponsor Council of America’s 2019 annual conference in Tampa.  Panelists included Will... READ MORE
Is the financial services industry at an inflection point? According to new research, the next five years will see a fundamental shift in the way financial institutions create and deliver consumer products and services.  With the economy shifting away from owning and buying to renting and using,... READ MORE
Investors paid less to own funds in 2018 than ever before, according to Morningstar’s annual fee study of the cost trends of U.S. open-end mutual funds and exchange-traded funds. The study found that across U.S. funds, the asset-weighted expense ratio dropped to 0.48% in 2018, compared to 0.51% in... READ MORE
While much of the attention within the environmental, social and governance (ESG) sector of investing has been on the environmental component, a new study finds that social and governance issues are just as important if not more so.  Allianz Life’s “ESG Investor Sentiment Study” finds there is... READ MORE
The ERISA consultants at the Retirement Learning Center Resource 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 plans. We bring Case of the Week to you to highlight the most... READ MORE
Plan sponsors and service providers already take seriously their responsibilities to protect participant data, but where are the lines of responsibilities and accountability in the event of a breach? That was the focus of a workshop at the Plan Sponsor Council of America’s 2019 National Conference... READ MORE
Plan sponsors often gloss over the reality that they are ERISA fiduciaries – or think that if they have hired an advisor, they’ve basically hired a stand-in for that responsibility. But there’s another mistake that even the most well-intentioned make – with remarkable frequency, based on what I... READ MORE

Pages

Advertisement