Schwab Finds Pre-Retirees not Panicked
The Charles Schwab Q3 Retirement Survey finds 54% of baby boomers ages 50 to 60 do not expect to delay their planned retirement date, despite the recent challenging...
News
MetLife Offers Retirement Readiness Workbook
The MetLife Mature Market Institute is offering its “Retirement Readiness Workbook,” a free tool to help people prepare for and transition into retirement smoothly.
Ford Settles Company Stock Suit with Advice
Ford Motor Co. will provide free financial advice to retirees and employees as part of an agreement to settle a lawsuit claiming the company should not have offered company...
Many Advisers Hesitant to Use Social Media
Although there are financial advisers who have adopted LinkedIn and other sites as part of their business, the vast majority remain on the fence.
Pfizer Cleared in Stock Option Suit
Pfizer Inc. did not breach its Employee Retirement Income Security Act (ERISA) responsibilities by giving an employee incorrect information about stock options granted under a non-ERISA plan, a...
More Small-Business Owners Delaying Retirement
A Wells Fargo survey reveals that a growing majority of small-business owners do not plan to retire before age 65.
Court Dismisses BofA Stock Drop Case
A federal judge has tossed out a stock drop case against Bank of America (BofA) that had alleged numerous fiduciary breaches in connection with BofA’s Merrill Lynch and Countrywide...
ASPPA Suggests Change to Providers Covered under Fee Disclosure Regs
In response to the U.S. Department of Labor Employee Benefits Security Administration’s interim final rule on fee disclosure, the American Society of Pension Professionals & Actuaries (ASPPA) and...
Judge Moves Forward Shareholder Claims against Bank of America
A judge has moved forward claims against Bank of America (BofA) Corp., certain officers, and directors that they concealed intended bonuses and losses at Merrill Lynch & Co...
Individuals Want Advice on Life Insurance Needs
Although half of households feel they need more life insurance, ownership of individual life insurance has hit a 50-year low, according to a new LIMRA study.
Schwab to Acquire Windward Investment Management
The Charles Schwab Corporation is paying $150 million in stocks and cash for Windward Investment Management, an exchange-traded fund (ETF)-focused investment advisory firm headquartered in Boston.
California Law Firm Probes Possible Fiduciary Breach
A Los Angeles-based law firm has launched an ERISA-based fiduciary investigation of Northern Trust.
The Hartford Attempts to Gain Ground in Mid-Market
With the introduction of several new initiatives and a new VP, The Hartford Financial Services Group plans to grow their middle market business for 401(k) defined contribution and...
IMHO: “Miss” Perceptions?
Next week we will launch our eighth annual search for the nation’s best retirement plan advisers.
IRS Seeks Roth 401(k) Input
The Internal Revenue Service (IRS) is looking for some input on Roth 401(k)s.
EBSA to Issue Proposed Rule on ERISA Prohibited Transaction Exemption Procedures
The Department of Labor’s Employee Benefit Security Administration is issuing a proposed rule that would supersede the existing procedure governing the filing and processing of applications for administrative...
DoJ Sues Adviser for Tax Fraud Related to Sham Benefit Plans
The United States has asked a federal court to permanently bar a California man from promoting alleged sham pension-plan and welfare-benefit-plan tax fraud schemes.
Court Moves Forward Claim BoA Cut Back Separate Account Benefits
A federal judge in North Carolina has moved forward a claim that Bank of America (BoA) unlawfully eliminated, or cutback, the separate account benefit afforded by 401(k) plans...
DoL Announces Agenda, Speakers for Lifetime Income Hearing
The U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) has released the agenda for the upcoming joint hearing with the Department of the Treasury on lifetime...