In the UK, private equity finds a NEST-ing ground
NEST has been at the forefront of UK’s auto-enrolled master trusts expansion into illiquid assets, but some doubted a private equity manager would work for a low expense ratio.
401(k)/IRA
The ‘Retirement Income Consortium’ is Born
Eight financial giants formed the Retirement Income Consortium to promote income solutions in 401(k) plans and 'develop a vetted due diligence framework' for 'selection and monitoring' of those solutions.
Holy satoshi! Fidelity blesses bitcoin for 401(k)s
But "plan sponsors are overwhelmingly not considering, and will not consider, cryptocurrency a prudent investment option in a retirement plan," a Plan Sponsor Council of America survey shows.
Bloomberg’s Ideas for Overhauling 401(k)s
Bloomberg editors call the existing 401(k) program 'dysfunctional' and a 'morass.' Their critique is valid, but their suggestions are not quite new.
Goldman Sachs acquires NextCapital
NextCapital, based in Chicago, is an open-architecture digital retirement advice provider that partners with US financial institutions. Terms of the acquisition were not disclosed.
Europe’s Borderless New DC Plans
After 10 years of preparation, the European Union has created Pan European Personal Pension plans (PEPPs). These will be available to any EU-country citizen working in any EU country....
401(k)s Are a ‘Fraud,’ and Other New Research
Here are five fresh, timely pieces of academic research on retirement-related topics, including the alleged unfairness of the employer-sponsored defined contribution plan savings system.
Our retirement system needs work: Morningstar
The content and tone of Morningstar's new Retirement Plan Landscape Report, from a new Morningstar retirement research group, reflects the crisp, business-like approach that Morningstar's broad audience needs and...
A Policy Dynamo Touts ‘Dynamic Pensions’
Bonnie-Jeanne MacDonald, an actuary and retirement policy expert at Canada's National Institute on Aging, claims that a non-guaranteed lifetime income tool could generate more income than any annuities. Tontines,...
Assets in TIAA’s custom RetirePlus TDFs cross $10 billion milestone
TIAA's RetirePlus gives 403(b) plan participants access to a customized target date fund with an investment sleeve that can be turned into lifetime income.
It’s Back: The Norcross-Walberg Bill to Make Annuities a 401(k) Default
Under the bill, participants who are defaulted into an annuity must have 180 days before their premium becomes illiquid, and the participant must receive 30 days notice before the...
RIAs, 401(k)s, and Annuities: Is This the Future?
Managed accounts are one way to build annuities into 401(k) plans. Morningstar is bundling Hueler Income Solutions into its managed accounts, giving participants an easy path to an income...
Pensionizing the 401(k) with Annuities
Historically, workers couldn’t set up guaranteed retirement income streams directly through their 401(k) accounts. But that’s changing, and the annuity industry sees it as a big opportunity, according to...
‘Eagle’ gold coins in a self-directed IRA? That bird won’t fly.
Ms. McNulty bought American Eagle gold coins for her IRA but stored them in a safe in her home. That's not legal, the tax court ruled. Attorney Barry Salkin...
TIAA Expands into 401(k) Plan Market
Many firms are trying to add retirement income options to defined contribution plans at for-profit companies. TIAA, which invented the in-plan annuity for the non-profit world, intends to cross-over...
LGIM America launches ‘Retirement Income Fund’ and four other funds for DC plans
In early 2022, LGIM said it will be 'completing a long-life strategy, which is the longevity piece of our solution and designed to support individuals into their later years...
‘Smart,’ from UK, Enters the US PEP Market
'Smart' is the recently-launched American branch of a British fintech with expertise in a kind of retirement savings plan that's called a 'master trust' in the UK and a...
Consortium to promote income options in 401(k) plans is formed
So far, Nationwide and Alliance Bernstein have joined the “Lifetime Income consortium,” which was created by Cannex, Broadridge FI360 Solutions, and Fiduciary Insurance Services.
Progress for retirement provision in ‘Build Back Better’ bill
'Among other things, the legislation would require employers without employer-sponsored retirement plans to automatically enroll their employees in IRAs or 401(k)-type plans,' according to a report today in the...
Ubiquity and Sallus partner on new Pooled Employer Plan
Sallus Retirement is backed by Magis Capital Partners and its CEO is former Jackson National president James Sopha. Chad Parks founded Ubiquity as "The Online 401(k)" more than 20...
