End of forced annuitization creates product vacuum in UK
While some in the U.S. try to put annuities into defined contribution plans, Britain is slowly adapting to the removal of forced annuitization from its DC rules.
401(k)/IRA
Let’s Concentrate on Recordkeeping
What's driving the flurry of consolidation in the defined contributon plan recordkeeping industry? RIJ asks the experts: Fred Reish, Mark Fortier, Peter Littlejohn, James Holland, Jeff Feld, Tom Clark...
Illinois Mandates Workplace Retirement Plans
Private-sector employers in Illinois with 25 or more full-time employees have to offer access to a retirement plan by June 1, 2017 or face penalties. Illinois state senator Daniel...
Trial Date Set for “Excessive fee” Suit against Boeing
“This decision reflects the pendulum that has clearly swung in the participants’ favor in recent years,” writes ERISA attorney and blogger Thomas E. Clark, Jr. of FRAPlanTools.com.
Nationwide Settles 401k Fee Suit for $140M
"This is the most substantial settlement ever in an ERISA fiduciary breach case involving the receipt of revenue sharing by a service provider. It is... nearly 10 times greater...
Income options in DC plans still rare: PSCA
The Plan Sponsor Council of America has released its 57th Annual Survey of Profit-Sharing and 401(k) Plans, with data on 613 plans with eight million participants and $832 billion...
All skewed up: Most IRA owners hold extreme asset allocations
IRA owners with the largest account balances had the lowest exposure to equities (in equity funds and balanced funds) in 2012, according to a study by the Employee Benefit...
Putting DB back in DC just got a little easier
“We’ve made clear that 401k plans can, if the employer sponsoring the plan wishes, include an in-plan accumulation annuity in a target date fund,” Deputy Treasury Secretary Mark Iwry...
NARPP Hopes to Do What Auto-Enrollment Hasn’t
The National Association of Retirement Plan Participants aims to boost 401(k) deferral rates through behavioral finance techniques. Despite its name, its direct ties are to plan sponsors and providers....
MassMutual relaunches small company 401(k) package
Aviator was initially available through The Hartford’s Retirement Service Group before MassMutual purchased it in 2013, Aviator is being reintroduced with several enhancements, including a new line up...
A New Robo-Advisor Eyes the 401(k) Space
"blooom is like a dietician who doesn’t just give you advice on how to eat. It’s like a dietician who actually drives to your store, does your grocery shopping...
Fixing the 401(k)s’ Leakage Problem
“I think is an opportunity for a win-win-win,” says Lew Minsky, executive director of DCIIA. “If you keep more people invested for retirement, all of the players in...
Lew Minsky Talks about ‘Auto-Portability’
Lew Minsky is executive director of the Defined Contribution Institutional Investment Association, an organization of retirement plan providers and asset managers. We asked him about the automatic plan-to-plan transfer...
A robo-advisor aims at the 401(k) market
“Our goal is to ‘fix’ the epidemic of inappropriately invested 401(k) plans with a simple, scalable, professional service,” said Chris Costello, co-founder of blooom, in a release.
A ‘Babysitter’ for Immature Rollovers
GuidedChoice, the 401(k) participant advice provider, and InspiraFS, a recordkeeper specializing in IRAs, have joined forces to turn automatic rollovers from a problem into a profit center.
Cerulli publishes pointers on capturing IRA rollovers
Of the $1.1 trillion that former participants could have rolled over in 2013, $720 billion remained in plans, awaiting future action, Cerulli analysts said.
Oregon gets closer to sponsoring a statewide retirement plan
“The next step is for the legislature to settle on details and create a savings program," said Edward Brewington, AARP Oregon executive council member.
Talk exceeds progress on state-run private retirement plans
Workers without access can open personal IRAs, but backers of state-run plans say people want the convenience of a workplace savings option.
Fidelity settles suit for $12 million, revises its own 401(k) plan
“Fidelity’s settlement of this case is somewhat surprising as typically vigorously defended itself in other excessive fee litigation," wrote ERISA blogger Thomas E. Clark.
Denmark’s ATP pension switches to 15-year guarantee
While current guarantees set a return for as long as 80 years, under the new system, each year’s contribution will be guaranteed a certain return for 15 years, based...
