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Industry veteran Glenn Dial joined American Century Investments on May 6 as senior retirement strategist, the firm has announced. Dial will report to Rick Luchinsky, SVP and Head of Financial Institutions and Retirement. According to a press release, he he will help further the firm’s commitment... READ MORE
With the ink still drying on his latest bill to enhance retirement security, long-time retirement champion Sen. Rob Portman (R-OH) has been confirmed as keynote speaker at the 2019 NAPA D.C. Fly-In Forum, July 23–24. Portman has authored several federal laws to increase retirement savings,... READ MORE
New proposed legislation could help close the retirement savings coverage gap — and you can help make it a reality. Small business owners face real challenges – costs, administrative burdens and increased liability for mistakes – in the decision to provide retirement benefits for their workers. ... READ MORE
Mothers give us a lot, not the least of which is life itself. But as I was reading through all the accolades on social media over the weekend, I couldn’t help but be reminded of all my mother gave me. As is the case in many families, “Mom” was our family’s CFO. See, like many in his generation, my... READ MORE
A key member of Congress has reintroduced legislation that would permit 401(k), 403(b), SIMPLE and governmental 457(b) retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Sen. Ron Wyden (D-OR), Ranking Member of the... READ MORE
The markets are off to a strong start, but for the 15th month in a row, participants who transferred balances have made the same move. More precisely, April marked the 15th month in a row in which participant transfers, on a net basis, favored fixed income funds over equity funds. Indeed, in April... READ MORE
Another fund manager strikes a deal in an excessive fee brought by a former participant – just days before the matter was scheduled to go to trial. This suit involved MFS and its actions as plan fiduciary with its two defined contribution plans. A notice of settlement states that “the parties... READ MORE
The IRS recently made it easier (and less costly) to fix certain operational issues without the need for an IRS filing or payment of a user fee. This week, a reader asks: “Do your clients use the DOL and IRS correction programs?”  If you missed it, the IRS made it a truly “good” Friday when, in a... READ MORE
Amid rising demand for low-fee options, target date providers are responding by offering inexpensive options like collective investment trusts or launching new lower-cost series that rely on passive funds. And even though assets in target-date mutual funds shrank in 2018 for the first time since... READ MORE
Private equity firm Reverence Capital Partners has announced that affiliated investment funds have signed a definitive agreement to acquire Advisor Group, Inc. Headquartered in Phoenix, Arizona, Advisor Group, Inc. is one of the nation’s largest networks of independent financial advisors serving... 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 Melbourne, Australia, Bradley Vogt, 28, for unknown reasons decided to flood the building where he lived…by opening a fire hydrant…well, more than one fire hydrant,... READ MORE
Despite a rocky end to 2018 and predictions of an impending recession, those who stayed the course with their 401(k) were rewarded with a generous first quarter rebound and even more impressive 10-year totals on the anniversary of the stock market low. Buoyed by positive stock market performance... 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 asked readers to weigh in on that prospect – and its prospects. Remember that after the 5th U.S. Circuit Court of Appeals struck down the DOL’s previous... READ MORE
New proposed legislation could help close the retirement savings coverage gap — and you can help make it a reality. Small business owners face real challenges – costs, administrative burdens and increased liability for mistakes – in the decision to provide retirement benefits for their workers. ... READ MORE
UPDATED: May 15, 2019 Many pre-retirees still don’t understand how Social Security works and significantly overestimate how much they will receive, suggesting a need for financial advisors to discuss optimizing benefits with their clients. In fact, future retirees expect to receive $1,805 a month... READ MORE
The key Senate committee with jurisdiction over retirement tax policy issues is turning its attention to reviewing proposals that encourage and facilitate retirement savings.  Sen. Charles Grassley (R-IA), Chairman of the Senate Finance Committee, has announced that the Committee will hold a... READ MORE
A $24 million settlement – including an $8 million attorneys’ fee for plaintiffs’ counsel – has been approved in an excessive fee suit. Judge Catherine C. Eagles of the U.S. District Court for the Middle District of North Carolina signed the final approval order in the case involving BB&T and... 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
Employees who used their financial wellness program on a regular basis improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new, multi-year study.  Financial Finesse’s 2018 Financial Wellness Year in Review highlighting the... READ MORE
The Labor Department and Securities and Exchange Commission aren’t the only ones contemplating a new fiduciary standard. Now the Office of the Comptroller of the Currency (OCC) is considering whether it should update the regulatory definition of “fiduciary capacity” to make it more consistent with... READ MORE
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

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