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Judge Moves Forward Wells Fargo 401(k) Self-Dealing Suit
The suit alleges that defendants used the plan to increase their own revenue and seed new funds.
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.
ESG Investments Can Lead to Higher Contribution Rates
More plan participants are increasing their demand for and interest in environmental, social and governance funds.
Record Balances: DC Plan System Continues to Thrive
Fresh data shared this week by Principal and Fidelity shows defined contribution retirement plan balances have—yet again—reached record highs, but the data underscores the need to improve access...
401(k) Investors Reach Highest Level of Equity Exposure Since 2001
Alight attributes this increase to a rising stock market and steady trades into equities.
2022 HSA Contribution Limits Announced
An individual with self-only coverage under a high-deductible health plan can contribute up to $3,650, $50 more than in 2021.
College Savings App Hits Ascensus With Federal Antitrust Claims
UNest Holdings claims Ascensus pushed the company out of the college savings market in an effort to create a monopoly.
M&A Update: New Records and Picking Partners
When it comes to succession planning amid record-setting merger and acquisition activity, understanding the different partnership opportunities emerging in the marketplace is essential to maximizing a firm’s equity...
Bronson Healthcare Group Sued Over 403(b) Plan Fees
The lawsuit alleges fiduciary breaches related to ensuring reasonable administrative and investment fees.
Resources Investment Advisors Partners With NextCapital on Workplace Managed Advice
Resources continues to expand its proprietary advice solution across multiple recordkeeping platforms.
Nearly Half of Parents Have Given Their Adult Children Money During Pandemic
A majority of these parents said they otherwise would have used the money for personal finances.
ShareBuilder 401k Promotes Value of 401(k)s During Pandemic
The company is waiving setup fees for 401(k) plans through May 21.
Congressional Chairs Ask the GAO to Review TDFs
They say the expenses and risk allocations in target-date funds vary considerably.
Retirement Industry People Moves
Carillon names new president; ProNvest announces hires dedicated to business development; Russell Investments announces several new hires; and more.
The Case for ‘Health Plus Wealth’ Is in the Numbers
The projected cost of health care for the average couple retiring today is up 30% from 10 years ago, according to new data shared by Fidelity, underscoring the...
ERISA Suit Against CalSavers Dismissed Again
This comes after the case was dismissed by a district court last year and after the DOL backed out in its support of the suit.
KeyCorp Succeeds in Getting Some Claims Dismissed in Excessive Fee Suit
A court dismissed claims regarding KeyCorp plan’s stable value fund option but moved forward some claims regarding excessive administrative and managed account fees.
Investment Product and Service Launches
Northern Trust launches Omnium Event Manager platform and Alger announces second high-conviction, actively managed ETF.
Quest Diagnostics ERISA Lawsuit Can Proceed
The district court roundly rejected the defense’s dismissal motions, ruling that the plaintiffs have sufficiently alleged that fiduciary breaches may have occurred.