Remote Meetings May Continue Indefinitely, In Part, for Advisers
One silver lining in the coronavirus pandemic has been a rethink of the need for certain business travel; many who...
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Retirement Industry People Moves
Hall Benefits Law announces changes to ERISA team and BNY Mellon elects governance expert to Board of Directors.
$39.5 Million Settlement Agreed to in DC Plan Excessive Fee Suit
McKinsey & Co. and an RIA it owned were accused of ERISA violations that included prohibited transactions.
Nearly Two-Thirds of Americans Don’t Have Emergency Savings to Last Six Months
More than half of Americans are earning half or less than half of their pre-pandemic income, and 31% have lost their entire income, a FlexJobs and Prudential survey...
15th Anniversary of RPAY: Rick Wedge
When he won the 2010 Retirement Plan Adviser of the Year award, Rick Wedge’s practice had $300 million in assets...
Northshire Consulting Selects 401GO as Recordkeeper
The partnership will focus on the firm’s National Chamber of Commerce Micro Market Solution.
RIA M&As Show No Sign of Slowing in 2020
Industry executives also say that valuations for strong companies are holding steady, even as the pandemic raises broader economic challenges.
Bloomberg to Offer ESG Scores
The model is informed by sustainability and industry frameworks, research and analysis to reduce noise, normalize data and address size bias and disclosure gaps.
SEC Fund Report Proposal Seen as Big Step Toward Modernization
One attorney who works on Securities and Exchange Commission compliance issues says the proposal will help retail investors digest key...
4th Circuit Ruling Supports ERISA Stock-Drop Plaintiffs
Since an influential Supreme Court ruling known as Dudenhoeffer, plaintiffs have struggled to defeat dismissal motions in so-call stock-drop lawsuits, but a new panel ruling in the 4th...
‘Lifestyle Benefits’ Suddenly Seem Excessive Amid Economic Crunch
Heading into the coronavirus pandemic, employers were innovating and expanding their ancillary benefits for employees.
Retirement Investors Saw Record Rebound in Q2
Fidelity reports that the average 401(k) plan balance was up 14% between the start of April and the end of June.
Wealth Management M&As Continued Strongly in July
The number of deals and client assets under management in June and July were the highest since Fidelity began tracking such data in 2016.
Recordkeeper Consolidation Continues Amid Pandemic
Principal Financial Group acquired Wells Fargo’s institutional retirement and trust businesses in July 2019 and aims to complete the integration...
Cash Balance Plans On Pause Among Small Businesses
For cash balance plans that were left unfrozen, small business employers may have been able to utilize a PPP loan to fund it.
Mercy Health Charged With Excessive Fees, Prohibited Transactions
The lawsuit challenges fees for recordkeeping, target-date funds and stable value funds, as well as fees paid to service providers to the health care system's 403(b) plan.
Judge Finds 401(k) Participants Proved No Harm From Lack of Stable Value Fund
A federal judge granted summary judgment to American Airlines in a suit challenging the use of the AA Credit Union Fund in its 401(k).
Segal Leaders Perplexed Over Treasury’s Benefit Cut Rejections
A law passed in 2014 allows stressed union pensions to reduce benefits in order to prevent insolvency, subject to approval...
John Hancock to Waive Recordkeeping Fees in Q121
The break will apply to 401(k) plans that sign up with the company between August 1 and December 31, 2020.
Commercial Real Estate in Question as Remote Work Continues
However, real estate investment trusts are still seen as a good investment diversifier for 401(k) participants.