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Wake Forest University Baptist Medical Center Sued Over 403(b) Plan Fees
The lawsuit says plan fiduciaries failed to ensure reasonable investment fees and mismanaged revenue sharing to pay for administrative expenses.
Midsize Plan Claims Self-Dealing by Russell Investments
The same attorney that is representing employees of Caesars Entertainment in a self-dealing lawsuit filed in May against Russell Investments has signed onto a similar case put forward...
When ‘Eating Your Own Cooking’ Becomes Self-Dealing
One conclusion that can be drawn from the rash of self-dealing lawsuits filed in the retirement plan services industry is that providers must be just as diligent as...
Serco Settles Excessive Fee Case for $1.2 Million
The class action lawsuit had charged the Navy defense contractor with selecting higher-cost mutual funds when cheaper options were available, and with allowing excessive fees in its 401(k)...
Retirement Industry People Moves
CIM hires director for credit research; State Street Global Advisers CIO announces retirement; John Hancock retirement selects CEO for retirement and recordkeeping business; and more.
Investment Product and Service Launches
MSCI new framework to evaluate decarbonization targets and Vanguard announces upcoming changes for dividend funds.
LPL and SmartAsset Partner in Vendor Affinity Program
LPL Financial is putting its affiliated advisers on an inside track to mine consumer prospects via SmartAsset’s digital platform and connection service.
529 Awareness Is Low—And Stagnant
Despite a lack of knowledge about the accounts, experts say the potential for growth in these products is high.
Common Factors Mark the Most Confident Retirees
Of course, a person’s absolute level of wealth has an impact on retirement confidence, but this is far from the only important factor at play.
Participant Insights: Misperceptions About 401(k) Plans Abound
Two of the most prevalent misunderstandings that keep workers from signing up—that it is too complicated, and that retirement is too far off to care—can be stamped out...
Gen X Participants Are Even More ‘Sandwiched’ After COVID-19
However, there are several helpful actions and concepts that advisers can bring to the table.
Advisers Giving Back: ProCourse Races for Financial Fitness
In just three years of sponsoring a 401(k) Race for Financial Fitness, ProCourse Fiduciary Advisors has raised more than $100,000 for Junior Achievement.
FPS, iJoin Offer Automatic Rollovers From 401(k)s to IRAs
The service is designed for small accounts with less than $5,000.
How to Prevent Retirement Plan Leakage
Educating participants about the importance of remaining committed to retirement savings and of the value of consolidating accounts is a good place to start, experts say.
Retirement Industry People Moves
LifeYield appoints Merrill Lynch executive; Edelman Financial Engines acquires Viridian Advisors; Alerus selects retirement sales consultant; and more.
Bill Would Allow Retirement Plans to Use ESG Investments
The legislation, which follows a year of back-and-forth on ESG investing, would amend ERISA to make it clear that plans may consider ESG factors in their investment decisions.
Pentegra Introduces Fiduciary Scorecard to Measure Plan Success
It gives sponsors a way to document the fiduciary oversight process.
Retirement Industry People Moves
OneDigital Investment Advisors acquires Clearview Advisory; FPS Group expands executive team; Principal adds portfolio manager to Global Asset Allocation team; and more.
Investment Product and Service Launches
Putnam Investments presents TDF evaluation tool; J.P. Morgan and Nationwide launch investment product; and OneDigital adds downside risk protection to adviser managed accounts solution; and more.
Americans Are Becoming More Optimistic About the Economy
As more people are getting vaccinated, they expect pent-up demand will lead to a boost.