DOL Hearings: Wonkishly Stimulating

“I believe the proposal is intended to eliminate the commission model,” said Ron Kruszewski of Stifel Financial during the hearings on the DOL conflict of interest proposal. Scott Puritz of Rebalance IRA looks on.

Annuities and the Charles Schwab Deal

Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.

Marshmallows and Social Security

Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans.

RIJ Takes a Vacation

Retirement Income Journal will next appear on September 3, 2015. We will not publish on August 20 or August 27. During that time the management and staff will be on vacation. We will return phone calls and emails when we return in September.

Edward Jones to pay $20 million SEC fine

Instead of offering bonds to customers at the initial offering price, Edward Jones and Stina R. Wishman took new municipal bonds into the firm's own inventory and improperly offered them to customers at higher prices, the SEC found.

Tax-efficient fund management pays off, study shows

A hypothetical investment of $10,000 in mutual funds in 1990 was shown to grow to $37,800 after 22 years in the most tax-inefficient funds and to $48,800 in the most tax-efficient funds.

Study alleges fund “favoritism” in bundled 401(k) plans

“Plans remove just 13.7% of affiliated funds in the lowest performance decile, 25.5% deletion rate for unaffiliated funds in the lowest performance decile,” said a new study from the Center for Retirement Research at Boston College.