Aegon Asset Management names consultant relations leader; Pentegra announces new additions to sales force; ISS ESG selects global research leader; and more.
The basic contention of the lawsuit was that the company acted in a manner contrary to ERISA’s fiduciary requirements when it forced terminated employees to liquidate company stock holdings at an unfair price.
Iron Financial approves Stadion managed account on Nationwide platform; ISS ESG expands Solactive index series; and more.
Investors continue to favor fixed income, according to the Alight Solutions 401(k) Index.
The need for education and advice about equity compensation is abundantly clear.
The most obvious potential conflict of interest for advisers setting up or serving pooled employer plans is if their practice is affiliated with the investments being selected—but there are other potential pitfalls to acknowledge.
Called WellCents, it is designed for employers of all sizes.
The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.
The main theme of the new fiduciary rule proposal is alignment with other regulators—the SEC and FINRA in particular—but the agency is by no means surrendering its jurisdiction over tax-qualified retirement plans.
Employees of Voya’s clients whose income has been affected by the COVID-19 pandemic will be able to get a personalized short-term financial action plan.
The Ayco Marketplace offers both proprietary solutions and curated products and services from other organizations addressing a variety of financial needs.
The lawsuit also accuses plan fiduciaries of failing to monitor total plan costs.
The complaint has been dismissed without prejudice, however, and the plaintiffs have until July 28 to attempt to remedy failures in their lawsuit.
A similar lawsuit was filed in May against an investment manager and a different plan sponsor.
Following the filing of various class member objections, a federal district court has denied a settlement agreed to by the parties in an ERISA fiduciary breach lawsuit against Northrop Grumman.
The settlement agreement also calls for the monitoring of plan recordkeeping fees and the plan’s investment options.
Orion Advisor Solutions adds TAMP provider; Cetera selects business development head; MassMutual Advisors Association appoints president; and more.
Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.
Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal Revenue Service.
Only 5% of respondents to a new survey have withdrawn from their retirement accounts, but another 7% said they plan to do so in the coming weeks.