401(k)/IRA
Wells Fargo's plan sponsors will be able to offer their participants the option to earmark a portion of their 401(k) savings for a MetLife qualified longevity annuity contract as...
Boeing’s 401(k) Joins the Hueler Annuity Platform
Boeing joined IBM, General Motors, Vanguard and other firms in giving its 401(k) plan participants access to the Hueler Income Solutions platform, where they can roll over savings to...
Fixed annuity option added to AXA’s DC recordkeeping platform
“The fixed account is generally intended to provide a guaranteed rate of accumulation, but participants have the option to annuitize to receive a lifetime income,” AXA told RIJ in...
Retirement Clearinghouse gathers allies for its ‘auto-portability’ solution
At a forum called 'Retirement Plan Portability & Public Policy: Unlocking the Potential in Portability' in Washington, D.C. on March 30, a panel representing EBRI, Groom Law Group, and...
Savings Pros Meet in City of Big Spenders
At the NAPA 401k Summit in Las Vegas this week, nearly 2,000 plan sponsor advisors et al worried about policy threats to their industry. At nearby slots and gaming...
DC plans deliver less income than DB plans, study shows
Expansion of DC coverage, wider use of auto-enrollment and auto-escalation of contributions, and reduced leakage would help turn the situation around, according to the Center for Retirement Research at...
Average 401(k) balances up 33% since 4Q2011: Fidelity
“More than one-in-four Fidelity 401(k) savers increased their savings rate in 2016—an all-time high—and the number of people with a 401(k) loan dropped to its lowest point in seven...
TIAA offers double-shot of income solutions for DC plans
Plan sponsors and/or their third-party consultants select the investment options and design the glide paths formulas for their TDFs and combine them with one of two income solutions on...
Skin in the (Costa Rican Retirement) Game
How do Costa Ricans pay for retirement? In San Jose, Alvaro Ramos Chaves (above), the pensions regulator, told RIJ how his nation’s mandatory DB and DC plans work. His...
RetirePreneur: Dream Forward
The next wave of automation in retirement plans will be chatbots--intelligent virtual assistants that both teach and learn from participants. Dream Forward, a startup led by Grant Easterbrook, is...
Ascensus to run Oregon’s public DC plan for private-sector workers
Pennsylvania-based Ascensus is the nation’s largest independent retirement and college savings services provider, with more than $139 billion in assets under administration.
Edward Jones’ 401(k) plan accused again of ERISA violations
A federal class action suit in St. Louis charges the Edward Jones 401(k) plan with offering its participants high-cost funds from asset managers that were also paying tens of...
DC plan advisors to cut sales of VAs, active funds: Ignites
Because of the fiduciary rule, 7% of plan advisors expect to reduce their use of actively managed equity mutual funds in DC plans, and 8% expect to scale back...
“Boutique DC consultants” now in demand: Cerulli
'This influential and relatively new intermediary category is a bright spot against a difficult DC landscape characterized by negative net flows in the corporate DC market, fee compression, and...
Ghilarducci book calls for new breed of DC plans
Economist Theresa Ghilarducci sees the existing 401(k) system as a half-full glass; she proposes a new glass, mandatory, without leakage, less tilted to high-earners, centrally managed and leading to...
Mercer offers new turnkey fiduciary services to plan sponsors
'Plan sponsors face an increasingly difficult regulatory environment, increased litigation risk and heightened demand on their limited resources to support their 401(k),' said a Mercer executive.
Russell and Envestnet roll out managed account option for DC plans
The Russell QDIA is called Adaptive Retirement Accounts; Envestnet Retirement Solutions Qualified Individualized Life Target Solutions delivers participant investment advice.
Chile’s Pension Crunch
The author, a former presidential candidate and finance minister of Chile, teaches at Columbia University's School of International and Public Affairs.
T. Rowe Price reports on trends in its retirement plans
The average deferral rate among T. Rowe Price plan participants was 7%, far below the recommended level of 15% (which includes the employer match). About one-third of participants are...
Yale, MIT and NYU Sued over Retirement Plan Fees
The universities' retirement plans were the latest to be sued by the law firm of Jerome Schlichter (pictured at his office in St. Louis) for violations of fiduciary duty....