A law passed in 2014 allows stressed union pensions to reduce benefits in order to prevent insolvency, subject to approval by the U.S. Treasury. One leading actuarial firms says the agency is preparing to wrongfully reject an application made by one of its clients.
Principal Financial Group acquired Wells Fargo’s institutional retirement and trust businesses in July 2019 and aims to complete the integration in 2021—pandemic or not.
Fidelity reports that the average 401(k) plan balance was up 14% between the start of April and the end of June.
The number of deals and client assets under management in June and July were the highest since Fidelity began tracking such data in 2016.
For cash balance plans that were left unfrozen, small business employers may have been able to utilize a PPP loan to fund it.
INSIDE THE MAGAZINE PLANADVISER May/June 2020
The lawsuit challenges fees for recordkeeping, target-date funds and stable value funds, as well as fees paid to service providers to the health care system's 403(b) plan.
A federal judge granted summary judgment to American Airlines in a suit challenging the use of the AA Credit Union Fund in its 401(k).
The break will apply to 401(k) plans that sign up with the company between August 1 and December 31, 2020.
However, real estate investment trusts are still seen as a good investment diversifier for 401(k) participants.
The case is yet another example of Employee Retirement Income Security Act (ERISA) litigation to question the use of actively managed default investments.
Several interim rulings have been handed down in the case, which asks some key questions about the meaning of the term ‘actuarial equivalence’ in the context of ERISA litigation.
The new feature is powered by Devenir.
The READYSAVE app will leverage behavioral prompts to drive better outcomes.
The move will expand the availability of the firm’s Certified Financial Planners to working and retired participants.