Two Thirds of Millennials Have No Retirement Savings
Only one-third are participating in their retirement plan
News
Adviser Off the Hook in NYU 403(b) Plans Case
While dismissing a new complaint in the litigation about excessive fees in NYU's 403(b) plans, a federal judge also denied summary judgment in the original complaint, moving the...
More Than Half of Americans Not Contributing to a 401(k)
Furthermore, only 37% are contributing to an IRA, and 18% to a HSA, Edward Jones learned in a survey
DISRUPTION: Transamerica’s New TPA Requirement Denotes Industry Pressures
Our series of exclusive interviews with retirement plan service providers, new and established, continues with Transamerica—which just recently announced a requirement that all new plans coming onto the...
Appointees to Multiemployer Pensions Committee Named
The Bipartisan Budget Act of 2018 established the committee and requires that it hold public hearings, and vote on its findings and legislative recommendations no later than November...
Court Finds Transamerica Not a Fiduciary in Fee Case
The same group of plaintiffs previously filed a lawsuit against John Hancock with similar allegations and a similar result.
Plaintiffs Won the Balance of ERISA Class Certification Motions in 2017
The number of Employee Retirement Income Security Act lawsuits winning class certification in 2017 far outstripped the number of suits within which class action status was denied; attorneys...
Retirement Plans Give Workers a Sense of Financial Security
However, this is not always the case for lower-income workers.
Sponsors Making Deliberate Enhancements to Retirement Plans
Concerned that workers are not saving enough, employers are hoping to improve their financial security, Willis Towers Watson found in a survey.
Americans Unprepared for Health Care Costs in Retirement
RBC Wealth Management has issued a guide to help with including health care costs in retirement planning.
Accelerating DB Funding an Important Strategy to Discuss
Tax reform has only increased the incentive to accelerate contributions to defined benefit plans, and there will still be incentives in the future, but plan sponsors won't benefit...
Retirement Industry People Moves
Advicent Expands Leadership Team with New CTO and VP; BPAS Adds External Wholesaler in South-Central Location; DCIAA Adds Senior-Level Positions for Retirement Research Center; and more.
IRI Issues Retirement Security Blueprint
The detailed report is aimed at expanding opportunities to save and increasing access to lifetime income products, among other efforts.
Adviser Opportunities Abound in HSA Market
Devenir finds HSA assets grew to an estimated $45.2 billion, spread across some 22 million accounts, at the end of 2017; as more account owners are investing their...
Paycheck Bumps and Tax Reform Present Crucial, Brief Savings Opportunity
During a recent webinar hosted by Broadridge on the impacts of tax reform, experts urged advisers and sponsors to push participants to save—not spend—any extra pay coming in...
Investment Products and Services Launches
Putnam Announces New Pricing for TDFs; First Trust to Launch AI and Robotics ETF; and Vanguard Launches Factor-Based ETFs.
California Lawmaker Pushes for State DC Plan Option
A new bill in the California legislature would offer new state employees a 401(k)-style plan in which their own contributions would be fully matched by the state.
Institutional Investors Had Diversified in Anticipation of Volatility
Turning to opportunistic allocations and alternative investments, they expect average returns of 7.2% this year, Natixis found in a survey.
Fidelity Stable Value Fund Suit Gets Final Dismissal From Appellate Court
The court said the plaintiffs claim that Fidelity agreed to overly conservative investment guidelines in a failed effort to lock up all wrap coverage so that its competitors...
DC Plan Investors Stayed the Course in the First Nine Months of 2017
Only 2.4% discontinued contributions, a mere 2.8% took withdrawals and just 1.3% took hardship withdrawals, ICI data show