It will enable them to communicate with participants and sponsors during the coronavirus pandemic.
Recordkeepers expect the volume of loans, hardships and withdrawals will increase in coming weeks and months.
“Many states are home to headquarters or critical operations for numerous mutual fund sponsors where Americans have entrusted their savings to meet a wide range of financial goals. Those mutual fund companies must remain in operation to ensure access to invested monies for shareholders across the country,” ICI's president wrote in a letter.
Financial Planning Association (FPA) members interested in volunteering can contact FPA’s pro bono director.
The federal government will provide itself 30 additional days to review economically significant mergers and acquisitions—which include for example the purchase of TD Ameritrade by Charles Schwab.
Everyone wants lifetime income products to be portable, but that doesn’t mean building such solutions will be easy.
Media outlets suggest one of the federal government’s responses to the coronavirus outbreak will be to temporarily guarantee money market funds—mirroring what proved to be an important policy decision made during the Great Recession.
Through a partnership with Vault, employers have three core offerings from which to choose.
Citing previous court decisions, a judge said dismissal is not proper at this early stage and the plaintiffs lack the information to detail their claims until discovery proceeds.
The retirement planning business is a people business.
Among other things, the lawsuit accuses defendants of selecting funds that that had no performance history that could form the basis of a fiduciary’s objective decision-making process.
While in-person participation is an important part of the financial system regulated by the SEC, the virus is forcing market makers to significantly adjust their operations.
With each edition of the PLANADVISER Data Mine, we dig for the most actionable findings in the latest retirement plan industry research.
Plaintiffs say the choice of underlying investments in funds using BOK’s CIT structure, as well as the use of BOK’s proprietary money market fund, were to benefit the firm.
As the SEC’s June 30 Regulation Best Interest deadline nears without hope of a grace period, sources say many financial services firms aren’t ready to comply.
More than a decade of litigation ends in a $29 million settlement agreement.
The bill introduced to Congress is designed to ensure public sector and nonprofit retirement plans have the same access to low-cost investments as for-profit retirement plans do.