ABG Brings in Business Development Officer for Retirement Plans and HSAs; FIS Group Hires SVP to Manage Sales and Marketing; BPAS Joins LPL Financial Retirement Partner Program; and more.
Legal experts generally consider reconsideration of a judgment an extraordinary remedy, one which will be granted only sparingly; even so, a federal district court has admitted key mistakes and says it will reconsider its ruling in a retirement plan lawsuit in which it had previously denied summary judgement in favor of the defendants.
The lawsuit claims the university failed to adequately benchmark fees, negotiate for better fees, or reveal true fees participants were paying.
INSIDE THE MAGAZINE PLANADVISER March/April 2018
The plaintiffs say that since these experimental funds were added to the plan in 2013, they have consistently underperformed their benchmarks, and have underperformed the funds they replaced by tens of millions of dollars.
A hearing focused on four bipartisan proposals, but a couple of witnesses also urged passage of the Retirement Enhancement and Savings Act of 2018.
TD Ameritrade Adds ESG Investment Models and First Trust Creates Index-Based ETF.
Only 10% plan to tap their retirement savings to help fund their child’s college education.
Only 2.7% discontinued contributions, according to the ICI.
Sixteen percent of Americans plan on having gig economy jobs in retirement.
Defining retirement goals by a particular age can be risky, according to LIMRA Secure Retirement Institute research, as it doesn’t account for the actual savings and assets available to support the person in retirement.
The percentage of people who contributed to their Fidelity IRA in Q1 2018 increased 14% over a year ago; among Millennials, IRA contributions increased even more.
The solution will focus on behavioral change by providing personalized wellness plans, according to MetLife.
The company says it needed to stay innovative about how it operates—whether end users want to check 401(k) balances on laptops, dial into a call center to talk about short-term investments or use a mobile device to get an answer to a question about insurance coverage.
Eighty percent of American workers surveyed said they would like to hear congressional candidates discuss retirement security.