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Legg Mason Offers ‘R’ Shares for Mutual Funds
Legg Mason has announced it will offer "R" shares for 11 of its mutual funds, effective December 1, 2006.
FL Sheriff Sues Nationwide Over Fees
A Florida Sheriff’s Department has sued Nationwide Life Insurance Co., over allegations Nationwide’s retirement plan fees unfairly allowed the company to make a profit through a revenue sharing...
Schwab to Sell Wealth Management Subsidiary to BoA
Charles Schwab Corporation has announced an agreement to sell U.S. Trust, its wealth management subsidiary, to Bank of America for $3.3 billion in cash.
Boomers Tell Youngsters: Do Not Follow in Our Savings Footsteps
Baby Boomers may not have been the best role models when it comes to retirement savings, and the overwhelming majority recognizes that and wishes they had done better.
Nationwide Introduces Small Plan Offering
Nationwide Financial Services, Inc. has introduced a new program designed for defined contribution plans with fewer than $10 million in assets.
Vegas Adviser Offers 401(k) Plan Program
Las Vegas-based Maul Capital Management, a financial advisory firm, has unveiled its LifeSync 401(k) advice program.
Caregivers Tap Retirement, Other Sources, to Cover Expenses
Many Americans who are caregivers for ailing family or friends frequently have to pay for it by tapping their retirement savings, according to a new John Hancock Life...
Equities Finally Pull Ahead to Win 401(k) Assets
While the number of net transfers by 401(k) participants was equally split among fixed income and equity funds for the month of October, overall net assets moved toward...
NCEO Provides Model ESOP to Guide Plan Creation
The National Center for Employee Ownership (NCEO) is offering a publication that includes a model employee stock ownership plan (ESOP) document to aid employers in developing their own...
Support for Family Members Alters Retirement Plans
A survey conducted for Putnam Investments found 15 million workers age 45 or over are providing financial support for an aging parent or adult child, and that is...
Pru: Young People Back Auto Plan Features
Two-thirds of America’s youngest workers say they would be “grateful″ and “optimistic″ if their employer automatically enrolled them in the company’s defined contribution plan, according to a new...
Vanguard: A Third of Eligibles Stayed on the Sidelines in 2005
About a third of eligible employees stayed on the retirement savings sidelines instead of joining their workplace plan, according to new Vanguard Group data.
Hispanics Lack Retirement Savings
A joint survey from Americans for Secure Retirement (ASR) and the Latino Coalition has found that 70.9% of Hispanic adults have less than $5,000 saved for retirement.
SSgA to Eliminate Redemption Fees
State Street Global Advisors Inc. (SSgA) has filed papers with the Securities and Exchange Commission (SEC) signaling its intention to halt redemption fees from its international and high-yield...
Russell Shuffles Asset Allocations for Target Date Funds
Russell Investment Group announced it has shuffled the asset allocations for its LifePoints target date funds, driven by its research that showed defined contribution plan participants can tolerate...
American United Life Adds 25 Investments Funds
American United Life Insurance Company (AUL) has added 25 new investment options for plan participants.
Company Fined for Failure to Provide Plan Documents
The US District Court for the Eastern District of Michigan has ruled that a plan administrator must pay a former employee $10,500 for failing to provide her with...
BISYS Reveals Proposed $25.1M SEC Deal on Financial Restatements
The BISYS Group announced Friday that it and staff members of the US Securities and Exchange Commission (SEC) have hammered out a $25.1 million agreement in principle over...
Rydex Expands ETF Offering
Rydex Investments has announced the launch of nine equal weight sector exchange traded funds (ETFs) based on the S&P Equal Weight Sector Indices.
WisdomTree Asks SEC Approval for 31 ETFs
WisdomTree Investments, Inc. announced Thursday that it has asked for Securities and Exchange Commission approval to register 31 new exchange-traded funds (ETFs).