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American Securities Association Says DOL Acting Secretary Cannot Finalize Fiduciary Proposal
The trade organization challenged the DOL’s proposal on several grounds, including that an acting cabinet secretary cannot finalize a rule.
IRS Notice Clarifies SECURE 2.0 Automatic Enrollment, Tax Credits, Other Features
The grab-bag notice also provided guidance on de minimis incentives, distributions for the terminally ill and Roth matching.
Product & Service Launches – 12/28/23
Victory Capital adds VictoryShares Small Cap Free Cash Flow ETF; Alpha Blue Capital Management LP enters Active ETF Space; KKR Income Opportunities Fund Q3 2023 investor recorded webinar now...
Market Watchers See Return to ‘Normal’ in ’24
Retirement savings portfolios may see less volatility next year, according to Bank of America, Goldman, LPL and Vanguard.
Advisory M&A News – 12/26/23
Wealth Enhancement Group acquires Asset Management Resources; Millennium Trust acquires Maestro Health’s consumer directed benefits business; Kestra Private Wealth Services adds Mooshi Wealth Planning & Management.
IRS 2023 Changes List for Pre-Approved Plans Is Out
The list contains many SECURE 2.0 provisions, but includes amendments stemming from other laws as well.
SECURE 2.0 Provisions Advisers Need to Know in 2024
Groom Law Group, Chartered, compares current retirement provisions with new ones that take effect in 2024.
Retirement Industry People Moves – 12/22/23
Ascensus and FuturePlan add regional and sector sales heads; InVesti snags sales head from IPX Retirement; EBRI taps Segal executive for board of directors; and more.
Vestwell Raises $125M to Further Small Plan Push
The Series D funding round will be used to expand retirement programs for small and emerging businesses, including state-facilitated plans.
Empower, SPARK Push Back Against Fiduciary Proposal
Their concerns arise from the wide range of sales conversations that take place between recordkeepers and plan sponsors and the potential expansion of fiduciary status to include them.
Product & Service Launches – 12/21/23
Morgan Stanley at Work unveils technology enhancements; John Hancock Investment Management launches active international equity ETF; PGIM releases 4 active ETFs.
Appeals Court Sets Aside Share Repurchase Disclosure Rule
The SEC could not meet a 30-day deadline to correct issues in the rule.
2023 Retirement Plan Litigation Highlights
Sean Duffy, investment & fiduciary consultant with Conrad Siegel, notes key cases and learnings from the year in 401(k) litigation.
Product Partnerships – 12/20/23
Transamerica selected as recordkeeper for Gallagher’s 401(k) choice pooled solutions; Prospera unveils enhanced tech stack; BPAS partners with SS&C automatic rollover program.
Aon to Acquire NFP for $13.4B
NFP will continue to operate independently, with a “connected platform” to Aon.
Nuts and bolts
Fiduciary 101 for Plan Committees
“We expect that sponsors know everything they need to know, when, in reality, they wear multiple hats, and fiduciary education is crucial,” says Jim Lyday, managing director of...
Just the facts
Mutual Funds Face Some Competition
Among ISS BrightScope’s NEXUS consortium members, mutual funds make up about 30% more assets and gross inflows than do collective investment trusts. The graph demonstrates that aggregate advantage...
Just the facts
Participant Education Innovators
PLANADVISER spoke to experts about how they provide financial wellness education to meet the needs of today’s participants. Since the COVID-19 pandemic, company leaders have had to rethink...
Just the facts
Fiduciary Rule Proposal: Comment Period Is Firm
Stakeholders in the retirement, insurance and investment industries had called on the Department of Labor to double the comment period for a new fiduciary rule proposal from 60...