The Bucket
Brief or late-breaking items from MassMutual, Cerulli Associates, Thrivent, Strategic Business Insights and LIMRA.
Two settlements of 401(k) excessive fee cases, for a combined $89 million
The settlements, by Boeing and Novant Health, mean over $30 million in fees and expense for the firm of Schlichter, Bogart & Denton, which specializes in federal class action...
Big life insurers boost gains with Schedule BA investments: Conning
Schedule BA assets, which include private equity and hedge funds, mineral rights, aircraft leases, surplus notes, secured and unsecured loans to corporations and individuals, and housing tax credits, can...
‘myRA.gov’ steals its webpage design from the robo’s
The federal government's "myRA" program offers a portable Roth IRA to Americans with no other retirement plan at work. The first $15,000 in savings goes into U.S. Treasuries. Participants...
Financial Engines acquires The Mutual Fund Store
Financial Engines has been an innovator in the retirement income space. Its Income+ service “is designed to manage your investments to create payouts that can last into your...
Third quarter for S&P500 was worst in four years: fi360
The S&P 500 had a return of minus 6.44% in the quarter and is minus 5.29% year-to-date. That was better than global equity performance, as the MSCI All Country...
Women are better savers, but men save more: Vanguard
In its investigation of the “substantial imbalance” in wealth accumulation for men and women in Vanguard-administered retirement plans, Vanguard reviewed participation rates, savings rates and investment choices.
Spike in cash takeovers could be bad omen: TrimTabs
“Merger activity tends to swell around market tops as confident corporate leaders turn to deal-making to boost earnings and revenue late in the economic cycle,” said David Santschi, CEO...
The Bucket
Brief or late-breaking items from vWise Inc., BlackRock, MassMutual and LIMRA.
October rally shows markets’ addiction to low rates: OFR
“The market-implied probability of a Federal Reserve rate hike in 2015 is now down to approximately 25% to 35%," according to the Office of Financial Research. The estimate came...
Shadow of ERISA hangs over state-run retirement plans
California, Illinois and Massachusetts have all enacted laws creating state-run defined contribution plans, but uncertainty that such plans might be subject to Department of Labor regulation is delaying implementation.
Five more advisory firms pay restitution for overcharges
Collectively, an estimated $55 million in restitution will be paid to more than 75,000 eligible retirement accounts and charitable organizations as a result of 10 FINRA cases settled in...
Fidelity partners with Envestnet on plan advisor platform
The new workstation which will provide advisory firms access to retirement plan data and service providers in one central location, will be accessible via single sign-on through Fidelity’s WealthCentral...
The Bucket
Brief or late-breaking items from Northwestern Mutual, LIMRA, LOMA, Mindset Digital and Allianz.
Sales of active funds to DC plans suffer as advisors seek lower fees
One-third of midtier consultants say they intend to increase DC plan placements of Large Cap US equity index funds, while only 14% plan to increase placements of similar actively...
As DOL ponders fiduciary proposal, retail channel assets grow
“U.S. retail channels have exhibited strong growth in recent years, driven primarily by Baby Boomers transitioning assets out of traditional institutional channels, such as 401(k) plans,” said Jennifer Muzerall,...
U.S. ranked 15th in pension excellence: Mercer
Both the Dutch and Danish systems were highlighted as “first class” in the seventh edition of the survey, while Sweden rose from sixth place to tie for fifth with...
The Bucket
Brief or late-breaking items from Voya Financial, TIAA-CREF, Prudential and MetLife.
Quote of the Week
"If some people have skills that are worth paying for, but it is difficult to determine who they are, everyone will be able to charge more. This mechanism is...
Longevity growth begins to slow: Society of Actuaries
“People are living longer, but longevity is increasing at a slower rate than previously available data indicated," said Dale Hall, managing director of research at SOA.
