Seven out of 30 money management firms encouraged IRA rollovers with misleading statements, according to a GAO report to be released today.The Washington Post’s Michael Fletcher reported Tuesday on the GAO study, which looked into misleading fee disclosure and marketing practices by money... READ MORE

The retirement industry in general and 401(k) plans specifically have been the subject of tough questions and much scrutiny, with many calling 401(k)s “a failed experiment.” Robert Richter, past president of ASPPA, defends 401(k)s in a column published in the Wall Street Journal. While they're not... READ MORE

In her latest biweekly update, EBSA’s Phyllis Borzi cautions workers in employer sponsored retirement plans to be wary of hidden fees and conflicts of interests by advisors who may put their own interests ahead of their clients, thereby lowering account balances. Perhaps foreshadowing the... READ MORE

When legal experts look at a central element of your business model and compare the possible future to past events like airline deregulation and tobacco and asbestos industry settlements, things are not exactly looking good. A recent Retirement Income Journal article touches on these themes in... READ MORE

Underscoring the unreliable nature of 5- and 10-year return calculations, a recent market commentary from Vanguard notes the impact of just one year’s worth of data falling out of a rolling period. For example:• The 10-year average annual return of the total U.S. stock market rose to 8% as of year-... READ MORE

There are a number of important lessons for plan sponsors and their advisors in the seminal 9th Circuit Tibble v. Edison decision outlined by the law firm of Trucker Huss. Most importantly, plans need to investigate whether lower cost share classes are available and, even if the plan does not meet... READ MORE

Add the Congressional Black Caucus to the growing list of groups questioning the DOL’s expansion of the definition of fiduciary. In a letter (free registration required) to the acting Labor Secretary signed by eight members of the House Financial Services Committee, the Black Caucus expressed... READ MORE

When it came to American Funds, industry insiders and advisors always said that based on their 30-year history, they had a different model that few if any could follow. It seems that now, especially after two years of significant outflow (which has continued in 2013), American Funds is coming back... READ MORE

Highly compensated participants in a plan that fails coverage or nondiscrimination requirements for a plan year face more serious tax consequences than if the plan is disqualified for another issue. Furthermore, such qualification failures are demographic failures, and are not eligible for self-... READ MORE