All employees would have 6% of their income contributed to a workplace retirement plan and have these contributions automatically escalated each year.
The advancement of President Trump’s nominee to serve as the Assistant Secretary of Labor for the Employee Benefits Security Administration might not grab mainstream media headlines, but it represents a key development for the retirement planning industry.
IRI’s basic argument is that empirical evidence shows the outsized role advisers and consultants play in boosting investing outcomes—and that these professionals should not face overly burdensome restrictions on the recommendations they make involving mutual funds and annuities.
The benchmarking tool is now fully integrated with Fi360’s Fiduciary Focus Toolkit, which automates workflow and oversight to ensure fiduciary best practices.
In their lawsuit, the plaintiffs called the Fujitsu plan one of the most expensive in the country and specifically called out the design and implementation of the plan’s custom target-date funds.
The richly detailed text of the complaint shows multiple individuals are accused of defrauding Great-West and depositing ill-gotten assets in a variety of U.S. banks, resulting in fraud and money laundering charges.
Plan fiduciaries are accused of breaching their duties in the design, management, operation and administration of an active large cap U.S. stock fund offered as a core menu investment option.
A federal district court denied a DB plan sponsor's attempt to pass liability for improper plan termination to its plan provider.
Nearly half of sponsors do not think they are fiduciaries, up markedly from 30% in 2011.
The lawsuit challenges the use of retail share classes for the plan's investment menu and revenue-sharing paid to the plan's recordkeeper.
Almost any bill floated by a Democrat is going to be a long shot in the current political environment, but proposals submitted by Representative Richard Neal, ranking member of the House Ways and Means Committee, enjoy broad support among the investment business and lobbying community.
Pavilion developed the quiz to gauge the knowledge of investment committee members and other professionals serving in fiduciary roles on ethics, conflict standards and fees.
One clear way to help prevent retirement plan leakage is to help families cope with financial shocks and income volatility in the short term; one way to do this is to encourage use of “sidecar accounts.”
The suit questions the use of actively managed versus passively managed funds. It also suggests that collective trusts and separate accounts are better vehicles than mutual funds for retirement plans.
The lawsuits alleged that First Bankers Trust violated the Employee Retirement Income Security Act when it approved stock purchases by three employee stock ownership plans.