According to the court, the consolidated complaint “pleads no facts sufficient to raise a plausible inference that defendants took any of the actions alleged for the purpose of benefiting themselves or a third-party entity.”
Sponsors of defined contribution (DC) plans are invited to respond to the annual PLANSPONSOR DC Survey through October 5. The survey is among our largest and most important research project of the year, but we need your clients' help for it to be a success.
Fidelity finds that since 2008, the average savings rate among employees automatically enrolled has risen from 4% to 6.7%, and 63% of automatically enrolled participants in the past 10 years have increased their savings rate.
While the conference is quickly approaching, there is still time to sign up. All the information you need is here.
Defendants strongly prevailed with their motion to dismiss, and the Illinois District Court barred further motions as moot: The complaint was far too general in its scope and allegations to move ahead.
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.
Plaintiffs argue it was inappropriate to allow three recordkeepers to supply the plans with a separate menu of investment choices, including mutual fund share classes that charged higher fees than other alternatives that offered the same investment strategies or less expensive share classes of the exact same investment fund—or both.
The sizable ERISA suit’s third amended compliant explicitly names as a defendant one of the advisory firms supporting NYU’s retirement plans.
Another 35% would consider doing so, according to Spectrem Group
Americans are confident DC plans will help them meet their retirement goals, ICI found.
With the Affordable Care Act and other pieces of major legislation that altered financial norms a guide, one expert asks whether a mandate to require employers to provide auto-enrollment retirement plans is a good idea against the backdrop of stubborn American individualism.
One change in the law means that in many cases, a participant will have more time in which to effect a tax-free rollover of a plan loan offset amount that occurs following termination from employment.
It appears some last-minute amendments have largely removed controversial provisions from the Senate’s version of tax reform legislation that would have had a big impact on governmental 457 and nonprofit 403(b) plan sponsors.
T. Rowe Price Names Senior DC Specialist; Vanguard Rotates Portfolio Managers; American Century Preps for Major ETF Business Launch; and more.