Retirement Industry People Moves
TIAA announces additions to executive committee; TRA acquires retirement plan administrator; and Compass Advisors names retirement services director.
News
Estee Lauder Faces 401(k) Plan Excessive Fee Lawsuit
The lawsuit argues that while the TDFs in the plan are CITs, they are private label CITs with much higher expense ratios than the typical CITs offered by...
Financial Consequences of COVID-19 Differ Across Generations
Tailored financial advice is now more vital than ever for participants at all stages of the retirement savings journey, experts...
DOL Files Brief in Case Over ERISA Preemption of CalSavers
A brief filed in a federal appellate court explains how the agency believes a federal district court erred in dismissing the case.
Investment Product and Service Launches
Calvert launches institute for responsible investing; BNY Mellon and Wilshire Associates create TDF platform; and intellicents to use Morningstar managed...
Consider How CITs Can Fit Into Your Practice
Collective investment trusts (CITs) can help clients address fee pressures, support an increased focus on fiduciary obligations, provide a means to build white-labeled investments and more.
IRS Actively Seeking Out CARES Act Fraudsters
Officials say criminals have already gotten millions in PPP loans and unemployment insurance.
Employers Called on to Retain Older Workers
By one estimate, allowing people to work longer could boost GDP by 19%.
Costco Sued Over 401(k) Plan Investment, Recordkeeping Fees
The complaint calls out the warehouse club's use of "more costly ‘actively managed funds’ rather than ‘index funds’ that offered equal or better performance at substantially lower cost."
Build Referral Networks to Find the Right Clients
Advisers need to understand that developing referral sources can take as long as five to seven years and that there...
DOL Proposes Stricter Rules About ESG Investing in Retirement Plans
Secretary of Labor Eugene Scalia says employer-sponsored plans ‘are not vehicles for furthering social goals or policy objectives.’
Aon and Voya Team on Pooled Employer Plan
Aon has announced the launch of a new pooled employer plan (PEP) to be recordkept by Voya.
IRS Establishes CARES Act RMD Rollback Framework
Anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll those funds back.
Second Circuit Maintains Ruling in IBM Stock Drop Suit
The 2nd U.S. Circuit Court of Appeals has remanded the litigation suit back to the district court for a second review.
Should Fixed Income Come First in Glide Path Discussions?
The equity side of the portfolio tends to get a lot of air time, but experts agree that a more balanced approach should increase the likelihood of participants...
SEC’s Punitive Authority Tested by Latest SCOTUS Ruling
A nearly unanimous Supreme Court has seemingly set new limits on the punitive authorities of the U.S. Securities and Exchange...
Cetera Launches Financial Wellness Program for Advisers to Offer
The new offering can be bundled with an investment professional’s delivery of a retirement plan to small businesses, or it can be offered on an education-only basis.
Some Parties Question PE’s Role in DC Plans
It is common to hear that private equity (PE) has been the best performing asset class in recent years for institutional investors, but a new academic analysis challenges...
Retirement Industry People Moves
Wagner Law Group appoints ERISA attorney to ‘of counsel’; Financial Fitness promotes former executive VP; ProManage adds senior VP and...
Lawsuit Says Plan Participants Shorted on Distributions During Coronavirus
A special valuation was processed before three terminated participants were given distributions of their 401(k) plan accounts.