Guardian enhances 401(k) portal
A key enhancement is the Guardian IncomeConnect Calculator. If it detects a shortfall in projected savings, the calculator will suggest educational tools and resources to help the plan participant...
401(k)/IRA
Time for Boomers to rebalance: Fidelity
Many older 401(k) account holders, including Baby Boomers close to retirement age, had stock allocations higher than those recommended for their age group, Fidelity found in an analysis of...
Lockheed Martin’s $62 million ERISA settlement approved
“The settlement is the largest ever for a case of this kind against a single employer,” said Thomas E. Clark Jr. of the Wagner Law Group.
Participants still not focused on income: Cerulli
Cerulli also asked asset managers, broker-dealers and insurance companies what income product they thought will appeal most to plan sponsors. Forty-one percent said “asset management-only” products.
DOL proposal could “revamp” advisor business practices: Fitch
Fitch analysts suggested in a new report that the DOL proposals “could curb the willingness of agents to promote complex and higher fee products to market,”...
A three-bucket blueprint for de-accumulation, from the U.K.
Britain's public-option defined contribution plan, NEST, thinks that a decumulation strategy that used tax-deferred savings to fund a small cash bucket, a big income-generating bucket and a longevity annuity...
OneAmerica buys BMO’s U.S. retirement business
According to NAPAnet, OneAmerica serves more than 11,000 plans in the mid-sized market and has over $30 billion in retirement assets under administration.
The Overlooked Income Vehicle, II
If more 401(k) plans offered systematic withdrawals, more money might stay in 401(k)s, and the DOL might not need to attempt the difficult and divisive task of policing rollover...
U.S. DC plans are leakier than those abroad, study shows
In a new paper, a group of researchers from the National Bureau of Economic Research point out that it’s a lot harder for plan participants in Australia, Canada, Germany,...
Statute-of-limitations is flexible for ERISA suits: Supreme Court
This article, which comments on the Supreme Court's ruling this week on the ERISA excessive fee case of Tibble v. Edison, is excerpted from the Wagner Law Firm's Fiduciary...
Voya Hires New Retirement Chief
Charles P. Nelson (pictured) will lead Voya Financial's individual and institutional retirement businesses after serving more than 30 years at Great-West Financial. He fills a management gap left by...
IRS relaxes penalty that discouraged auto-enrollment
A penalty on plan sponsors for failing to make scheduled deferrals to auto-enrolled plan participants was identified as a barrier to adoption of auto-enrollment into retirement plans, so the...
Secrets of Tax-Efficient Drawdown
In a regular new feature on the latest retirement-related research, we look at a variety of recent articles, including one that might just change the way you think about...
The Fine Madness of the 401(k) Business
Most of the workshops and discussions at the NAPA Summit in San Diego were devoted not to the pending DoL fiduciary proposal but to potential solutions to the problems...
Value of U.S. pension and retirement accounts exceeds $21 trillion
The total assets held in employer-sponsored retirement plans were $11.3 trillion at the end of 2014, an increase of 11.5% percent from the $10.1 trillion one year earlier, according...
Rollovers will reach $382bn in 2015: Cogent Reports
The distributor firms best positioned to capture and retain these rollover assets are Vanguard, Charles Schwab and Fidelity Investments, the report said.
Employees at biggest companies by far save the most
”You’ve got 500 investment committees who are, essentially, dictating trends in retirement savings that can’t help but influence the rest of the market,” according to a release from Judy...
Twin bills could help small-plan formation
In the Senate, the sponsors were Senators Susan Collins (R-ME) and Bill Nelson (D-FL). In the House, the sponsors were Representatives Vern Buchanan (R-FL) and Ron Kind (D-WI).
New report ponders leakage from 401(k) plans
The ERISA Advisory Council, reporting on testimony it heard last August, recommends the creation by the Dept of Labor of sample forms that will promote the transfer of 401(k)...
Annual 401(k) contributions to reach $500 billion by 2019: Cerulli
"Our projections indicate that, by the end of the decade, total private DC assets will approach $6.5 trillion, the majority of which will be in 401(k) plans," said Jessica...
