Tag: Defined contribution

Because of the economy and recent employment-related legislation, many employers have shifted to benefits that place primary responsibility and control on employees, a survey found.

Younger, less-educated and lower-paid employees are more likely to choose the investment provider that offers face-to-face financial advice, a survey found.

Lincoln Trust Company has acquired Independent Pension Consultants Ltd. (IPC), a regional plan administration and consulting firm in Eden Prairie, Minnesota.

The U.S. Government Accountability Office (GAO) has concluded that defined contribution retirement plan approaches in other countries may be beneficial to the U.S.

The annual Trustees report on the financial health of Social Security Trust Funds says funds will be exhausted by 2033, three years sooner than projected last year.

The House Committee on Ways and Means heard testimony about the tax-favored status of retirement accounts Tuesday.

Total U.S. retirement assets were $17.9 trillion as of December 31, 2011, up 4.9% in the fourth quarter of 2011 and about unchanged for the year.

BMO Global Asset Management has rebranding its defined contribution services business, now known as BMO Retirement Services.

With the number of retirement plan audits expected to rise, plan advisers should be proactive in helping plan sponsors avoid hefty fines.

Bank of America will freeze its pension plans for eligible employees, effective July 1, 2012.

The current tax treatment of 401(k) plans costs the U.S. Department of Treasury between $50 and $70 billion per year, says a recent analysis.

Cerulli Associates predicts the IRA marketplace will grow steadily over the next five years and expects assets to rise to $7.3 trillion by 2016.

Now that the Department of Labor’s (DoL) regulation for 408(b)(2) has been finalized, it is important for plan advisers to understand how the final ruling impacts them.  

Eighty-four percent of polled executives responsible for 401(k) plans say only some or very few employees will be financially prepared for retirement.

IRA Financial Group has launched a free, online Solo 401(k) contribution calculator.

 Fifty-four percent of Hispanics report they feel “not very” or “not at all” prepared for retirement.   

The Internal Revenue Service’s (IRS) interim report of responses from its 401(k) Compliance Check Questionnaire offers a view of the 401(k) plan design landscape.

EPIC Advisors Inc. (EPIC) chose Castle Rock Innovations’ (CRI) AXIS Retirement platform to provide compliance with the Department of Labor’s 408(b)(2) fee disclosure requirements.  

A white paper called “The Savings Crisis of Working Americans: The Retirement Industry Call to Action” is available from the Legg Mason Retirement Advisory Council (LMRAC).