FL Associations Unveil Model 403(b) Plan
A coalition of Florida’s K-12 education associations announced the development of a 403(b) Model Plan for Florida educators in a February 25 nationwide teleconference.
News
Mutual of Omaha to Acquire Retirement Product Wholesaler
Mutual of Omaha has entered into a definitive agreement to acquire the assets and personnel of Retirement Marketing Services (RMS), a Dublin, Ohio-based independent wholesaler specializing in marketing...
Americans Need to Increase Saving, Group Says
More than half of Americans save less than 5% of their income, but the majority (57%) of Americans not yet retired still believe they are socking away enough...
401k Toolbox's Managed Account Service Offers Fiduciary Warranty
PMFM's 401k Toolbox's managed account service now offers a fiduciary warranty when the managed account service is used as the Qualified Default Investment Alternative (QDIA) in a qualified...
U.S. Wealth Management Firms Need to Build Client Advocacy
More than half (57%) of wealth management clients are not advocates of their advisory firms, and over 40% do not consider their firm a "trusted adviser" to help...
Site Connects Advisers with HNW Companies, Retirement Plans
SLM Holdings, Inc., a financial software company, has launched an online network that provides financial professionals access to information concerning high-net-worth individuals, their companies, and their retirement plans.
William McNabb III to Replace Vanguard Top Exec
The Board of Directors of The Vanguard Group has elected F. William McNabb III as President and Director of Vanguard, effective March 1.
RS Investments Bolsters Institutional Sales Team
Jared Buell has joined the San Francisco-based investment management firm as Vice President of Institutional Sales and Service.
Fidelity Advisor Mega Cap Stock Fund Launched
Fidelity Investments has announced the availability of the Fidelity Advisor Mega Cap Stock Fund, providing financial advisers and their clients access to a fund with dedicated mega cap...
FINRA Fines Oppenheimer Over Market Timing Allegations
The Financial Industry Regulatory Authority (FINRA) announced that Oppenheimer&Co. will pay a $250,000 fine for allegations related to market timing in 2003.
DoL Unveils Retirement Planning Worksheets
The Department of Labor (DoL) has unveiled a set of interactive worksheets to help workers with retirement savings decisions.
Dow Jones Introduces Benchmarks for Lifecycle Funds
Dow Jones Indexes has launched the Real Return Target Date Indexes, a series of indexes designed to serve as benchmarks for lifecycle portfolios.
Pet Peeves
Times may be tough, but it looks like Fido and Fluffy have nothing to worry about.
Oppenheimer Packages Auto Plan Features
OppenheimerFunds, Inc. has enhanced its Pinnacle and Record(k)eeper Pro platforms for small and mid-sized companies with a tool to implement automatic plan feature provisions of the Pension Protection...
Supreme Court Allows Individual ERISA Suits in Landmark Ruling
In a landmark ruling eagerly awaited by the retirement services community, the U.S. Supreme Court on Wednesday declared that defined contribution participants can bring fiduciary breach suits to...
Supreme Court Lets Rollover Exemption Decision Stand
The U.S. Supreme Court declined to review a case in which an appellate court determined a profit-sharing plan was not subject to spousal consent requirements of the Employee...
S&P Releases Indian Equities Shariah Indexes
Standard&Poor's launched two new investable Shariah indexes for the Indian equities market - the S&P CNX 500 Shariah and S&P CNX Nifty Shariah.
Court Clears CIGNA of Cash Balance Wrongdoing
A federal judge in Connecticut has joined with most of his colleagues around the country in ruling on a seven-year-old lawsuit that CIGNA Corp’s cash balance plan is...