|Americans Unfamiliar With 529 Plans|
A mere 29% know that they are vehicles for education savings, Edward Jones found in a survey
|401(k) Plan Excessive Fee Lawsuit Filed, Settlement Reached|
One day after a complaint was filed, Philips North America agreed to pay $17,000,000 to settle the lawsuit questioning its failure to offer a stable value fund and less expensive share classes and investment vehicles for other funds.
|Are Managed Accounts Better for Participants Than TDFs?|
Professional investment assistance helps DC plan participants’ outcomes; however, an analysis from Alight Solutions found users of managed accounts see higher returns, are more diversified and save more in their DC plans.
|Wells Fargo Faced With Revenue Sharing Lawsuit|
Despite Wells Fargo's admission and resolution of an error, the Chattanooga Fire & Police Pension Fund wants an accounting of all compensation the bank received while it was trustee of the fund.
|When a Downward Trend in the Average Deferral Rate Is a Good Thing|
Chris Barlow, national director of defined contribution investments for BMO GAM, riffs on the results of a new “DC Conversations” industry assessment; among the top findings is a downward trend in deferral rates across all sectors since 2010.