Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 11th, 2017
JC Penney Agrees to $4.5 Million Stock Suit Settlement
Under the terms of the settlement, J.C. Penney will pay $4.5 million to resolve allegations that it breached its fiduciary duties under ERISA by failing to prudently and loyally manage the plan’s assets and to adequately monitor an independent fiduciary and provide the independent fiduciary with accurate information. Read more >
Recent Retirees Still See Room for Optimism
Survey data shared by Spectrem Group shows “overwhelming satisfaction” among both recent and long-term retirees with respect to their personal and financial lives after work; many could have sought advice earlier. Read more >
DC Participants Place Different Values on Mobile and Web Abilities
Among individuals who indicated that they accessed their plans via mobile devices over the previous six months, phone app usage rose from 82% to 93%, while tablet app usage remained at 29% and mobile site usage rose from 9% to 15%. Read more >
ETFs Find DC Entry via TDFs
17 TDF providers leverage exchange-traded funds as underlying investments. Read more >
Is the Traditional Fiduciary Insurance Model at Risk?
'Massive' Fraud Charges Trigger Allianz Global Investors U.S. Sale to Voya
Why Small Business Owners Often Resist 401(k)s
Retirement Industry People Moves
SEC Votes to Propose Updated Fund Name Rules, ESG Disclosures for RIAs
Minimizing the Loss When Someone Leaves
Not surprisingly, good communication is critical throughout the changeover. One firm strives to inform clients in advance when an adviser plans to leave; then it follows up with them directly, afterward, to make sure they are happy. Read more >
DC Plans Critical for Attracting Millennials
Eighty percent of this demographic group prefers to work for a company with a 401(k) plan. Read more >
Retirement Confidence Lies in Closing Behavioral Gaps
A new study suggests 78% of Americans are stressed about their financial future regardless of income, but they can reverse this trend by exhibiting specific behaviors. Read more >
401(k) Traders Stayed the Course in 2016
“The rise of assets in target-date funds accounts for some of the light-trading in 401(k)s we saw in 2016,” explains Rob Austin at Aon Hewitt. Read more >
RIAs Anticipate Another Gainful Year for 2017
With the amount of advances in 2016, RIAs anticipate 2017 to see even more increases—despite rules that lie ahead. Read more >
** Editor’s note **
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