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Retirement Industry People Moves
ABG Brings in Business Development Officer for Retirement Plans and HSAs; FIS Group Hires SVP to Manage Sales and Marketing; BPAS Joins LPL Financial Retirement Partner Program; and more.
Opportunities Exist, But Future of CITs in 403(b) Plans Remains Murky
Higher education clients with very large 403(b) plans could theoretically benefit from new laws or regulations allowing them to invest participant assets through collective trust vehicles, but for...
Rare Motion for Reconsideration Granted by District Court in ERISA Suit
Legal experts generally consider reconsideration of a judgment an extraordinary remedy, one which will be granted only sparingly; even so, a federal district court has admitted key mistakes...
University of Rochester Called Out for Excessive Fees Paid to TIAA
The lawsuit claims the university failed to adequately benchmark fees, negotiate for better fees, or reveal true fees participants were paying.
Plan Sponsor Challenged in a Lawsuit for Using Untested Hewitt Funds
The plaintiffs say that since these experimental funds were added to the plan in 2013, they have consistently underperformed their benchmarks, and have underperformed the funds they replaced...
Industry Sources Urge Lawmakers to Move Forward on Retirement Plan Proposals
A hearing focused on four bipartisan proposals, but a couple of witnesses also urged passage of the Retirement Enhancement and Savings Act of 2018.
Investment Products and Services Launches
TD Ameritrade Adds ESG Investment Models and First Trust Creates Index-Based ETF.
Parents Keeping College Savings Separate From Retirement Savings
Only 10% plan to tap their retirement savings to help fund their child’s college education.
Americans Remained Committed to Their 401(k)s in 2017
Only 2.7% discontinued contributions, according to the ICI.
Gig Economy May Replace Retirement
Sixteen percent of Americans plan on having gig economy jobs in retirement.
Assets, Not Age, Will Determine Retirement Date for Many
Defining retirement goals by a particular age can be risky, according to LIMRA Secure Retirement Institute research, as it doesn’t account for the actual savings and assets available...
Millennials Increasingly Embrace Roth and Traditional IRAs
The percentage of people who contributed to their Fidelity IRA in Q1 2018 increased 14% over a year ago; among Millennials, IRA contributions increased even more.
MetLife and Ernst & Young Create Multi-Channel Wellness Program
The solution will focus on behavioral change by providing personalized wellness plans, according to MetLife.
Sentinel Adopts Service to Improve Data Delivery and Protection
The company says it needed to stay innovative about how it operates—whether end users want to check 401(k) balances on laptops, dial into a call center to talk...
Americans Support Retirement Security Public Policy
Eighty percent of American workers surveyed said they would like to hear congressional candidates discuss retirement security.
Americans’ Greatest Financial Regret: Not Saving Earlier for Retirement
That is followed by not saving for an emergency, and taking on too much credit card and too much student loan debt.
2018 Modern Wealth Index Highlights Importance of Planning
A new analysis from Charles Schwab shows those with a written financial plan are much more likely to have a higher overall Modern Wealth Index score, be regular savers,...
Centurion Group Helps Plan Sponsors Find Money for Financial Wellness Programs
Robert Gibson, fiduciary consultant at Centurion Group, says there is pressure on advisers from plan sponsors about what they can offer participants, and the challenge is how the...
Are Managed Accounts Better for Participants Than TDFs?
Professional investment assistance helps DC plan participants’ outcomes; however, an analysis from Alight Solutions found users of managed accounts see higher returns, are more diversified and save more...
Advisers Want Improved Annuity Options for Clients
Three-quarters of advisers believe they understand annuities well, yet of that number, 62% say their clients do not.