The plan, in development for the past two years, is being offering in partnership with Ryan Insurance Strategy Consultants.
The lawsuit, alleging the act that created the program is preempted by ERISA, was filed less than a year after the Trump administration and Congress cancelled an ERISA safe harbor established by the Obama administration.
A federal court judge found Metropolitan West Asset Management, LLC charged a reasonable fee for a fund it advises, considering the services it provides and risks it takes for the fund.
It was also the 18th month in a row that net trades have moved from equities into fixed income
Despite a market “teeming with better-performing alternatives,” the plaintiffs say, Walgreen selected the Northern Trust Funds, which already had a history of poor performance.
BPAS and F&M Trust link regional retirement plan businesses; Grant Thornton adds Advisory Services principal; Nuveen updates portfolio management group for two funds; and more.
A new IRS private letter ruling essentially conforms the tax treatment of properly structured advisory fees from non-qualified annuity contracts to those paid out of qualified accounts, which typically are not treated as taxable distributions.
The self-regulatory organization says it will help members implement the SEC's sweeping new conflict of interest disclosure rules.
It should start with determining sponsors’ concrete goals and can then move to usage metrics.
Among the remarkable characteristics of today’s global fixed-income marketplace is the $15 trillion invested in negatively yielding bonds.
As a general rule, “Doe pleading” is disfavored in federal court. However, the practice is not entirely forbidden, particularly where the identities of alleged defendants are unknown.
John Hancock creates model portfolios managed by Manulife; Northern Trust builds portfolio analytics tool; American Century to launch new suite of investment solutions; and more.
New York’s expanded “best interest” standard took effect on August 1st for annuity contracts and will take effect February 1, 2020, for life insurance policies. In a new decision, the New York Supreme Court calls the expansion “a rational and reasonable movement towards consumer protection.”
Among other things, a federal court judge found the director of benefits at Kaleida Health and the retirement plan committee of its 403(b) and 401(k) plans were fiduciaries.
“We just had an asset-allocation meeting and we spent probably half of it talking about global trade tensions and the China-U.S. relationship,” says Bob Brown, CIO at Northern Trust. “This is a big deal for the markets. The two largest economies in the world have changed the nature of their relationship.”
Club Vita teamed up with Mercer to develop a proprietary model, VitaCurves, that uses the nine-digit ZIP code to help defined benefit (DB) plan sponsors more accurately make longevity assumptions.
To combat the squeeze, asset managers will seek out new markets, product offerings and investment capabilities, says Cerulli.
The single-employer program, however, has continued to improve since its emergence from a deficit.