401(k) Litigation: The ‘Next Asbestos’?

“The vast majority of 401(k) funds are at risk of lawsuits over excessive fees,” said James Holland, director of business development at Millennium Investment and Retirement Advisors, a fiduciary consultancy in Charlotte, NC.

Where the Wealth Is

Do you build and wholesale financial products? Cerulli reports that the giant wirehouse channel shrank slightly last year, to the benefit of the fast-growing RIA and dually-registered advisor channels.

Cutting Longevity Tail Risk Down to Size

In a white paper published last month, Milliman actuaries describe a design for a mini defined benefit plan that a plan sponsor could tuck inside a defined contribution plan like a donut tire in the trunk of a car.

The Best Retirement Research of 2012

For the second consecutive year, we bring you the most intriguing, influential and useful retirement-related academic research that came to our attention in the prior year.
Featured

The Opposite of Austerity

The respected Yale economist argues that temporarily higher taxes and higher spending is a better path to recovery than permanently lower taxes and lower spending.

Was That a Prohibited Transaction?

We all think we know right from wrong. But in the ERISA world, it’s not always so easy tell the difference. Listen to these war stories and decide for yourself.
News

No surprise: Most Americans still not saving

A new survey shows yet again that most Americans don't save much. Given the trillions that currently sit in 401(k) plans and IRA accounts, this suggests that a minority of Americans must be saving a lot.

Lump sum DB payouts represent rollover opportunities: Cerulli

Two new publications from Cerulli Associates point out, respectively, that advisors and IRA providers should target the lump-sum distributions of former DB plan participants and that the direct channel is taking business away from advisors.

Jackson National top seller of annuities in 2012

LIMRA has published its quarterly list of top annuity sellers in the U.S. For all of 2012, Jackson National Life was the largest overall seller of annuities, with $20.4 billion, including $19.7 billion in variable annuity sales. Prudential sold the most VAs, at $19.97 billion.

The Bucket

Brief or late breaking items from MassMutual, New York Life, The Hartford, Retirement Clearinghouse LLC, National Planning Holdings and Protective Life.