News
Aon Appoints Clouse to Northeast Region Leader Post
Aon Consulting Worldwide has named Joe Clouse as senior vice president and Northeast regional leader of business development, the firm announced.
IRS Updates 2009 Reporting Requirements for RMDs
The Internal Revenue Service (IRS) has modified reporting requirements applicable to required minimum distributions (RMDs) from individual retirement accounts (IRAs) to reflect the waiver of the RMD rules...
Treasury Suggests Boosting Social Security Retirement Ages
The latest U.S. Treasury Department treatise on Social Security reform suggests increasing both the early and normal retirement ages would help encourage more Americans to stay in the...
Smith Barney and Morgan Stanley May Merge Brokerage Units
Citigroup is in talks with Morgan Stanley about a sale of its Smith Barney brokerage and asset-management unit, according to news reports.
BoA Loses another Ex-Merrill Exec
Gregory Fleming, former president and chief operating officer of Merrill Lynch&Co., has left Bank of America to join Yale Law School’s faculty.
IRS Publishes Interim Guidance on §457A
In Notice 2009-8, the Internal Revenue Service has published guidance on the application of §457A to nonqualified deferred compensation plans of nonqualified entities.
Ex-Employee Given Green Light for Cash Balance Suit
Drawing a distinction between claims to recover pension benefits and those to collect damages in a pension dispute, a federal judge has given a former JP Morgan Chase...
Court Consolidates Bear Stearns Suits
A federal district court judge has consolidated lawsuits that have been filed against Bear Stearns Companies Inc. since its collapse last year.
Louisville Bank Ups 401(k) Match
In contrast to most recent news reports regarding employer matching contributions, Louisville, Kentucky-based Republic Bank has increased its 401(k) match.
Pharmaceutical Company Could Face Company Stock Suit
The law firm of Stember Feinstein Doyle&Payne, LLC, is investigating conduct that it believes might have caused losses to the KV Pharmaceutical Company Profit Sharing Plan and Trust.
AUL Retirement Names Southern Region 403(b) Sales Exec
The Retirement Services division at American United Life Insurance Company (AUL), a OneAmerica company, has announced the appointment of James R. Daniel, Jr., as regional vice president for...
Spectrem Millionaire, Affluent Investor Indexes Up in December
The Spectrem Millionaire Investor Index (SMII) saw its largest increase ever when it jumped 16 points in December to -23.
Advisers Feel Market Stress
A whopping 90% of advisers said market changes have increased their stress level, according to a study by Vestment Advisors and the Financial Planning Association.
Millionaires Question Adviser Performance
During the financial crisis, millionaires did not express satisfaction with their advisers’ performance, but independent advisers fared better, a SpectremGroup study found.
More Workers Rolling over Retirement Savings at Job Change
More workers are rolling over retirement assets when they change jobs than in past years, according to a study by the Employee Benefit Research Institute (EBRI).
Goal Oriented
Whether you set a New Year’s resolution – or if you didn’t – you have a lot of company.
Planning Ahead Proved Difficult
In the past year, retirees/pre-retirees with financial planners lost money at about the same rate as those without financial planners, according to a survey of Consumer Reports readers.
Woomer Named to OneAmerica Consulting Services Post
The Retirement Services division at American United Life Insurance Company (AUL), a OneAmerica company, named Michael Woomer as the division’s field vice president, consulting services.
Millennium Trust Offers 403(b) Custody Solution
Millennium Trust Company, LLC, announced its appointment as successor custodian for Neuberger Berman 403(b) custodial accounts.