Chubb Corporation announced on Thursday it will discontinue paying contingent commissions on all insurance lines in the United States beginning in 2007 as part of a settlement agreement with the Attorneys General of New York, Connecticut and Illinois that resolves all issues arising out of investigations of property-casualty insurance market illegal bid-rigging practices.
A new survey has found a notable hike in the number of larger corporate employers offering 401(a) money purchase plans.
The Internal Revenue Service (IRS) and Treasury Department have issued final regulations that provide guidance concerning prohibited allocations and disqualified person requirements under section 409(p) of the Internal Revenue Code for employee stock ownership plans (ESOPs) holding stock of Subchapter S corporations.
The sponsor of a 401(k) plan for employees at an Illinois racetrack is suing Principal Financial Group for fiduciary breach over revenue sharing arrangements with mutual funds whose offerings are in Principal’s 401(k) product.
With the Dow Jones Industrial Average at new record levels and the S&P 500 at highs not seen since 2000, 401(k) participants have begun to respond and net transfers favored equities on 62% of the days during the month, according to the Hewitt 401(k) Index.
State Street Global Advisors launched an exchange-traded fund Tuesday on the American Stock Exchange that will track the performance of real estate securities outside the US.
The past five years may have been kind to advisers in some respects, but their financial picture may be starting to darken, a new study found.
In a lawsuit filed earlier this month, New York Attorney General Eliot Spitzer’s office charges UBS Financial Services, Inc. with leading inappropriate clients into its InsightOne brokerage program by falsely promoting services not offered.
The Vanguard Group will offer ETF shares for its new FTSE All-World ex USA Index Fund, which is expected to be available in the first quarter of 2007, the investment company has announced.
Nearly one-third (27%) of online investors plan to focus some or all of their end-of-year investment gains on retirement and 22% plan to put them into savings.
A federal judge in New York has ruled in a lawsuit that Citigroup's cash balance plan is not “age neutral″ in the latest in a long line of federal court rulings on the controversial pension issue.
Franklin Templeton Investments said Thursday that it hired Lincoln Baca to lead its Registered Investment Advisor (RIA) division.
Prudential Insurance Company of America has agreed as part of a lawsuit settlement over the use of contingent commissions that it will now disclose all broker compensation to consumers.
Prudential Retirement has introduced IncomeFlex, a defined contribution plan feature that provides participants with the guarantee of lifetime income.
Four Deere&Co. workers have sued Fidelity Investments over charges it levies unreasonable fees to manage the Deere 401(k) plan.
The Internal Revenue Service (IRS) issued Notice 2007-3 containing the 2006 Cumulative List of Changes in Plan Qualification Requirements for plan administrators to consider when submitting a request for opinion, determination or advisory letters.
The 2006 ShareBuilder Small Business Annual Retirement Trend (SBART) Survey found that 63% of respondents do not offer retirement benefits to their employees and more than half (63%) do not know what a 401(k) plan would cost to administer.
In addition to savings and investment considerations, a new survey suggests that part of a healthy retirement plan will include a consideration of early retirement because not all Americans will be able to work as long as they plan.
Under an agreement with New York State Attorney General Eliot Spitzer, Prudential Insurance Company of America will eliminate the payment of contingent commissions to brokers on group insurance products, including life, disability and long-term care.
A vote by the US Securities and Exchange Commission (SEC) this week is expected to start easing the accounting rules governing how closely small public companies have to gauge the quality of their financial controls.