News

The majority of workers polled by AllianceBernstein admitted they are unprepared or reluctant to monitor and manage their retirement plan investments.

Almost three-quarters of employees (71%) and half of retirees (50%) said they were very concerned about their long-term financial future, according to the latest Principal Financial Well-Being Index.

A recent survey from New York Life Investment Management (NYLIM) found participants confident in their 401(k) investment decisions, but still not sure their savings will last in retirement.

Stock and bond funds experienced net inflows of $29.8 billion in October, led by International/Global funds with net inflows of $14.4 billion and Domestic Equity funds with an $8.4 billion net intake, according to data from the Financial Research Corporation (FRC).

At a time when many in the retirement services community and some influential lawmakers are up in arms over fees paid by 401(k) participants, the Investment Company Institute (ICI) has insisted in a new report the fees are not that high and participants are getting their money's worth.

American Funds has made its inaugural step into the target date fund market by adding nine funds to its retirement fund lineup.

Clark Capital Management Group, a Philadelphia-based investment adviser, has announced its Navigator investment platform is available for implementation in 401(k) plans.

The NASD announced Monday it has slapped Jefferies&Company with a $5.5-million fine for providing “improper gifts and entertainment″ to Fidelity stock traders.

OppenheimerFunds, Inc. has announced enhancements to Retirement Income Manager, its free software tool which allows advisers to assess a client’s probability of meeting income needs during retirement based on his or her current situation.

IndexIQ has launched a series of new families of indices for institutional and high net worth investors.

First Charter Corporation announced on Monday it has sold Southeastern Employee Benefits Services (SEBS), part of the Wealth Management division of First Charter Bank which provides recordkeeping and administrative functions for retirement plans.

Wilmington Trust has announced the addition of two new fundamentally weighted mutual funds to its lineup of domestic equity funds.

In court papers filed last week, the Securities and Exchange Commission (SEC) revealed for the first time details of its two-year probe into possible fraud at Fidelity Investments.

A federal judge has cleared the way for a former employee of A.G. Edwards to continue pressing forward with his Employee Retirement Income Security Act (ERISA) fiduciary breach lawsuit over excessive 401(k) fees.

Approximately half (51%) of women who work with a financial adviser consider themselves “very financially secure″ in their current situation, while only 31% of those without an adviser agree.

As federal regulators continue filling in the detailed framework for the Pension Protection Act’s (PPA) provisions, they are now asking for public comment on the PPA’s investment advice exemption for 401(k) plans and IRAs.

The Department of Labor (DoL) announced it is suing the Iowa Association of Business and Industry over a stock windfall that the organization retained rather than turn over to its member companies’ benefit plans.

A report from the Government Accountability Office (GAO) urges Congress to amend the Employee Retirement Income Security Act (ERISA) to require more comprehensive disclosure to participants on 401(k) plan fees and business arrangements among service providers.

Many Americans may be leaving their retirement savings program on auto pilot, but a majority responding to a recent survey was certain of one thing: they wanted to make basic savings decisions without the government doing it for them.

A survey from AARP Financial has found Californians over age 50 report being overwhelmed with too many choices, turned off by complex prospectus language and not sure who to turn to for advice, and are thus falling behind in their retirement savings.