IRS Answers Questions About Partial Plan Termination Relief
The guidance answers questions about who is an "active participant" and says the relief applies to each plan year which falls inside the relief period.
News
Compliance
Products
Humana Faces Classic Prudence Claims in New ERISA Lawsuit
According to the plaintiffs, the plan’s fiduciaries did not try to reduce the plan’s expenses, resulting in the assessment of excessive fees.
Pentegra Introduces Fiduciary Scorecard to Measure Plan Success
It gives sponsors a way to document the fiduciary oversight process.
Compliance
SEC Settles Charges Against GWFS Equities for $1.5 Million
The Great-West Life affiliate was accused of violating the federal securities laws governing the filing of Suspicious Activity Reports.
Deals & People
Compliance
Retirement Industry People Moves
OneDigital Investment Advisors acquires Clearview Advisory; FPS Group expands executive team; Principal adds portfolio manager to Global Asset Allocation team; and more.
Industry and Congress Agree the Coverage Gap Is a Big Problem
Witnesses at a retirement security hearing held Thursday by the Senate HELP Committee all spoke about the central importance of closing the defined contribution plan coverage gap.
Compliance
Judge Moves Forward Wells Fargo 401(k) Self-Dealing Suit
The suit alleges that defendants used the plan to increase their own revenue and seed new funds.
Products
Data & Research
Investment Product and Service Launches
Putnam Investments presents TDF evaluation tool; J.P. Morgan and Nationwide launch investment product; and OneDigital adds downside risk protection to adviser managed accounts solution; and more.
Americans Are Becoming More Optimistic About the Economy
As more people are getting vaccinated, they expect pent-up demand will lead to a boost.
Data & Research
Data & Research
Investing
Compliance
Compliance
Practice Management
ESG Investments Can Lead to Higher Contribution Rates
More plan participants are increasing their demand for and interest in environmental, social and governance funds.
Record Balances: DC Plan System Continues to Thrive
Fresh data shared this week by Principal and Fidelity shows defined contribution retirement plan balances have—yet again—reached record highs, but the data underscores the need to improve access for more workers.
401(k) Investors Reach Highest Level of Equity Exposure Since 2001
Alight attributes this increase to a rising stock market and steady trades into equities.
2022 HSA Contribution Limits Announced
An individual with self-only coverage under a high-deductible health plan can contribute up to $3,650, $50 more than in 2021.
College Savings App Hits Ascensus With Federal Antitrust Claims
UNest Holdings claims Ascensus pushed the company out of the college savings market in an effort to create a monopoly.
M&A Update: New Records and Picking Partners
When it comes to succession planning amid record-setting merger and acquisition activity, understanding the different partnership opportunities emerging in the marketplace is essential to maximizing a firm’s equity value.
Compliance
Products
Data & Research
Products
Bronson Healthcare Group Sued Over 403(b) Plan Fees
The lawsuit alleges fiduciary breaches related to ensuring reasonable administrative and investment fees.
Resources Investment Advisors Partners With NextCapital on Workplace Managed Advice
Resources continues to expand its proprietary advice solution across multiple recordkeeping platforms.
Nearly Half of Parents Have Given Their Adult Children Money During Pandemic
A majority of these parents said they otherwise would have used the money for personal finances.
ShareBuilder 401k Promotes Value of 401(k)s During Pandemic
The company is waiving setup fees for 401(k) plans through May 21.
Compliance
Congressional Chairs Ask the GAO to Review TDFs
They say the expenses and risk allocations in target-date funds vary considerably.