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Big Increase in Health Care Costs Projected for Employers in 2024
Aon estimates per-employee cost at more than $15,000, up 8.5% from 2023 figures.
SEC Reopens Comment Period for RIA Investment Custody Rule
The regulator also announced a new proposal to increase transparency and disclosures for private fund managers such as private equity and hedge funds.
Goldman Looks to Shed RIA Arm, Will Continue Third-Party Custody Push
While the firm is looking to divest the results of its 2019 acquisition of United Capital, it will continue to push into third-party asset management and custody businesses.
Few Americans Report ‘Financial Freedom’ Amid Record High Credit Card Debt
Research from Achieve suggests Americans are struggling to make ends meet, but separate research from WalletHub notes inflation is masking relatively strong debt management.
Why Short-Term Financial Stress Hurts Long-Term Savings
A T. Rowe Price retirement expert finds participants who take multiple short-term loans end up with less retirement savings—furthering the case for emergency savings.
Pontera Adds RIA Summit Financial to 401(k) Management Platform
Another financial investment advisory can now bring clients’ “held-away” retirement saving accounts under management.
Goldman, Charlesbank to Invest in Pensionmark Parent World Insurance
The combined Goldman capital infusion would add up to $1 billion, fueling growth plans for areas such as retirement and wealth management, says Pensionmark CEO.
Retirement Plan Limits to Rise in 2024, Mercer Projects
Almost all retirement plan limits will increase, with the exception of catch-up contributions, according to the benefits consultancy.
IRS Provides Tax Relief for Hawaii Wildfire Victims
Victims of the wildfires on the islands of Maui and Hawaii are eligible for Internal Revenue Service tax relief, including waiving the penalty fee for hardship withdrawals.
With Roth Use Set to Grow, Vanguard Stresses Participant Education
The firm’s retirement head says its plan sponsor clients are ready for implementation, but participants can use more information.
Plan Adviser Industry Needs to Adapt to Get Younger, More Diverse
A panel of top advisers discusses how to shake up the typical hiring channels, and even how the industry is talked about, to cultivate the next generation.
How Advisers Can Help Close Longevity Literacy Gap
Experts recommend providing appropriate interpretation and practical implications of longevity terminology.
SEC Fines Fintech Advisory Titan in 1st Marketing Rule Charge
The regulator calls the charges a ‘warning’ to investment advisers about how they can market offerings.
Advisory M&A
Innovest adds Jansson as retirement plan consultant; Wealth Enhancements adds $341M First Capital Advisors; Latimer joins Steward Partners in Florida expansion push; and more.
Capital Group Piloting Benartzi’s PensionPlus Retirement Income Manager
The owner of American Funds adds PensionPlus to its TDF retirement series with goal of giving advisers a retirement paycheck calculator for plan sponsor clients.
The PLANADVISER Interview: David Musto, Chair and CEO, Ascensus
The head of Ascensus discusses the importance of partnering with advisers to foster innovation in the retirement plan space.
State-Sponsored Retirement Plans Now Hold More Than $1B
The pace of savings growth in state plans is accelerating, led by programs in California, Oregon and Illinois.
Retirement Industry People Moves
Corebridge names Muderrisoglu head of investor and ratings relations; TIAA promotes Houser to head of institutional sales; Tifin Amp’s founder Nair steps aside, Gagliano named CEO; and more.
Investment Product and Service Launches
AmericanTCs, Allianz come to market with in-plan annuities; Lincoln Financial upgrades its RILA to combat market volatility; Altruist adds multi-account onboarding; and more.
WTW: Employers Ramping Up Nonqualified Saving Options to Draw Key Execs
75% of employers made changes or plan to make improvements to their nonqualified deferred compensation plans, according to a survey.