Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
June 3rd, 2015
Retirees Were Preyed on by Miami Ponzi, SEC Says
A retired grocer and a retired schoolteacher had one thing in common: the bad luck to hand their retirement assets to Phil Donnahue Williamson, a Miami investment adviser who allegedly used a Ponzi scheme to siphon his investors’ retirement assets. He assured his investors of 8% to 12% returns, but funneled the money into his personal accounts. Read more >
Top Advisers Talk Current Client Service Trends
J.P. Morgan suggests top advisers are feeling energized by the current market environment. Interest is growing around improving plan participant outcomes through continuing plan design innovation, with most advisers at the firm’s annual DC Advisor Summit noting their biggest concern for sponsors is not unmitigated fiduciary liability or runaway investment fees-but “participants not having saved enough.” Read more >
Retirement Plan Fees? They Haven't Got a Clue
About 42 million people-unaware they pay any fees at all on their work place retirement plans-pay an estimated $35 billion in fees, according to the National Association of Retirement Plan Participants. In its new findings on what plan participants do and don’t know, the association cautions the importance of investors understanding the fees they pay. Read more >
PSNC 2015: The Regulatory Environment
Lifetime income, service provider process changes and privacy of retirement plan information are just a few things for which plan sponsors and service providers need to prepare. Read more >
PSNC 2015: Re-Visioning Retirement
Age Wave Co-Founder Maddy Dychtwald invites retirement plan sponsors and service providers to act as guides and leaders for the new retirement landscape. Read more >
Few Have Retirement Distribution Plans
More than half of retirement plan participants have no strategy for making their money last throughout retirement, a sign the industry needs to find ways to get participants thinking about decumulation, Pentegra says. In a survey on participant awareness of distribution options, they found 20% have given the matter no thought at all. Read more >
New Retirement Plan Program Targets Not-for-Profits
A workplace solution from Transamerica and Merrill Lynch expands offerings for 403(b) clients, giving plan sponsors and their employees access to increased Transamerica plan administration services and mutual funds on Merrill Lynch’s investment platform. The goal is to meet two needs common among large higher-education and health care institutions: flexible technology and multiple retirement plans to cover a broad base of employees. Read more >
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