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Lowe’s Reaches Settlement in 401(k) ERISA Case
The $12.5 million agreement excludes co-defendant Aon Hewitt.
U.S. Asks Supreme Court to Weigh In on Excessive Fee Claims
U.S. attorneys argue the Court of Appeals’ decision in a case against Northwestern University is incorrect and conflicts with decisions made by the 3rd and 8th Circuits in...
Unintended Tax Consequences Arise When the RMD Date Shifts
The concept of extending the age at which one must begin drawing tax-sheltered savings as income in retirement is like candy, one source says: Everybody loves it, but...
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.
Retirement Industry People Moves
Voya Financial announces new hire for large corporate market business and Ascensus appoints new regional VP.
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.
Investment Product and Service Launches
T. Rowe Price announces fee reductions on TDFs and trusts; ICMA-RC details new updates to its managed accounts platform; Northern Trust updates workflow tool; and more.
Retirement Contribution Drop Attributed to Market Volatility and Outside Causes
Despite the market rebound, 2021 reports find retirement planning contributions were still low.
Claims Against Aon Hewitt in Lowe’s 401(k) ERISA Case Will Move Forward
A court document shows the investment consultant and the plaintiff were unable to reach a settlement agreement.
Executive Order Asks DOL to Consider Rescinding Last Rule on ESG Investing
President Joe Biden seems to want to pave the way for more environmental, social and governance investing in retirement plans.
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.
Financial Wellness Is Really About Financial Priorities
Retirement industry researchers say the pandemic will have a lasting impact on the way people rank and pursue their financial priorities, influencing their vision of ‘financial wellness’ and...
Workforce Representation Will Soon Skew Younger
With more Millennials and Gen Zers now in the workforce, financial advisers and employers must rethink their engagement with these groups and reconsider the traditional benefit landscape.
State Street Sees Self-Dealing Allegations in ERISA Lawsuit
Participants in the State Street Salary Savings Program say their employer has engaged in self-dealing within the retirement savings plans.
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.
Russell Investments Draws Self-Dealing Scrutiny
Plaintiffs in a new ERISA lawsuit say Caesars Entertainment allowed Russell Investments to pack its plan with proprietary investment options, to the disadvantage of plan participant outcomes.
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.
Columbia University Agrees to Settle Excessive Fee Suit for $13 Million
The settlement agreement also includes non-monetary provisions related to bids for administrative services and share class selections for investments.