The Financial Services Industry Can Help Tackle Economic Inequality
Each U.S. household in the bottom half of the wealth distribution has only $20,000 of net worth, on average, a...
News
First Hints of Potential New DOL Fiduciary Rule Emerge
The Department of Labor has submitted a draft regulation to the Office of Management and Budget.
Plaintiffs’ Attorneys: Leaving Pension Policing Solely to DOL Won’t Work
Part of the Supreme Court’s reasoning in affirming two lower court rulings in Thole v. U.S. Bank is the fact that the Department of Labor polices pension plan...
BCG Launches Customized Buyout Price Monitoring
The firm is also introducing a new corporate brand and website.
Advisers Giving Back: Grant Arends at intellicents
Some people are called to give back and invest in their local communities, while others are compelled to go farther...
Emory University to Pay $16.75 Million to Settle 403(b) Excessive Fee Suit
The agreement also calls for the university to issue an RFP for recordkeeping services and engage an independent consultant to review investments, among other things.
Supreme Court’s Thole v. U.S. Bank Ruling Has Constitutional Implications
Normally the Supreme Court strives to structure its rulings with the narrowest possible scope and implications, but that is not always the case.
IRS Moves Certain Deadlines for DB, 403(b) Plans
The agency says it is postponing deadlines for certain time-sensitive actions required by these plans and others because of the COVID-19 emergency.
Split Supreme Court Rules in Thole v. U.S. Bank; Major Implications for Pensions
The case is expected to help determine whether the millions of Americans whose pensions are held in defined benefit plans have the right to sue the fiduciaries of...
Retirement Industry People Moves
TRA adds newest regional sales consultant; Mercer selects responsible investment leaders; Newport acquires TPA business at Huntington National Bank; and...
Lawsuit Calls Into Question Reasons for Fund Changes
Plan participants allege prohibited transactions between a plan sponsor and its investment manager relating to a revamp of the plan's investment lineup.
CFP Board Outlines Enforcement for Revised Ethics Code
The board will begin enforcement of the Code of Ethics and Standards of Conduct on June 30.
Retirement Plan Cyberfraud Suit Moves On With Claims Against Both Parties
A federal judge previously moved forward ERISA claims against retirement plan providers and has recently allowed for a counterclaim by the providers against the plan sponsor.
John Hancock Retirement Unveils Two Digital Tools
They are designed to help financial professionals better serve clients in the current digital environment in light of COVID-19.
Arizona Is Latest State to Approach New Annuity Regulations
The state is following in the footsteps of Iowa, which earlier this month adopted a regulation to require annuity agents to act in the best interest of their...
Land O’ Lakes Lawsuit Questions Recordkeeper, Advice Provider Fee Arrangement
In other ways, the excessive fee lawsuit is identical to others filed by law firm Capozzi Adler.
In Times of Stress, Timely Communications Make a Big Difference
New data shows the education and guidance firms are providing is helping individuals to stay the course.
With E-Delivery Accomplished, a Push for More Retirement Reform
With the electronic disclosure delivery regulation in the bag, retirement industry lobbyists have turned their attention back to the ambitious Portman-Cardin bill, a version of which could soon...
Advisers Giving Back: Attila Toth and Portfolio Evaluations
Investing in the local community has been an important part of the firm’s identity from its founding in 1992, and...
Details of JPMorgan Chase 401(k) Self-Dealing Suit Settlement Revealed
A payment of $9 million will be made to “fully, finally and forever resolve, discharge and settle the released claims.”