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...
401(k)/IRA
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...
Many participants would prefer bigger match, lower pay
Only 13% of those surveyed by Fidelity said they would take a job with no company match, even if it came with a higher pay level.
With so many tools, why are participants still so worried?
A new report from State Street Global Advisors finds little confidence about retirement among U.S., UK and Irish plan participants.
Ex-official calls for a ‘universal 401(k)’
As one way to finance the program, Gene B. Sperling suggested reducing the estate tax exclusion for couples to $7 million from $10.7 milllion, a move that he said...
To raise retirement security, ban DC cash-outs: EBRI
Getting rid of cash-outs during job changes could mean that 38.3% more of the poorest Americans would have saved enough to replace 60% of their pre-retirement income (when combining...
Danish DC Model Draws a Crowd in Britain
Through a subsidiary called "Now: Pensions," Denmark's national defined contribution plan provider (ATP) is making hay of the UK's requirement that all British employers auto-enroll their workers into a...
Connecticut funds the creation of a public IRA by 2016
The Connecticut Retirement Security Board will be expected to report their findings and a plan for implementation to the General Assembly by April 1, 2016.
Vanguard issues “How America Saves 2014”
In the 13th edition of its annual statistical report, the defined contribution full-service plan provider shares information on $600 billion in over 3.5 million accounts at more than 3,000...
Morningstar buys HelloWallet, bolsters participant advice business
HelloWallet allows plan participants to create dashboards on their computers or smartphones where they can monitor all of their financial information in one place.
EBRI reports IRA statistics for 2012
Ten times the amount of money was added to IRAs by rollovers than by contributions, even though the number of accounts receiving contributions (2.4 million) outnumbered the accounts receiving...
Retirement Clearinghouse to help find missing participants
An estimated 9.5 million defined contribution plan participants change jobs each year, and many leave their accounts behind in former employers' retirement plans.
