Happy Friday, PLANADVISER readers. We are proud to present below the 2016 PLANSPONSOR Retirement Plan Adviser of the Year finalists, divided this year into four categories according to team size: individual, small team, large team and mega team. Our judges have picked out a top flight of advisers that represent the best service to plan sponsors and their participants. We’ll have much more information in the coming days and weeks about our finalists—and eventual winners—so stay tuned.
In addition to self-dealing allegations, the complaint calls out Fidelity for not negotiating revenue sharing refunds for its 401(k) plan participants and not considering stable value options for its plan investment lineup, among other things.
A detailed analysis prepared by Aon suggests the typical worker would have to start saving at age 25 and put away 16% of pay annually—including the employer retirement plan match—to achieve a stable retirement outlook by age 67.