In the midst of ongoing litigation regarding excessive fees, plan sponsors need an understanding of the different fund share classes available and how they affect fee structure.
A new bill introduced by Senate minority Democrats, seeking to protect ERISA exemptions for state- and city-run retirement plans for the private sector, would likely be made redundant with the removal of the Obama-era fiduciary rules.
Of this group, 58% obtain professional financial advice.
The firm has consistently been an early mover in announcing fiduciary rule implementation plans—and that trend continued this week with the news that ML advisers will retain some access to commission-based IRAs.
A new study by the Center for Retirement Research explores the modern state of the individual retirement account and those who invest in it.
Market forces may drive some of the reforms the Department of Labor sought to achieve under the Obama presidency—but a cadre of investors also remains committed to commissions.
Investing in a Roth versus a traditional IRA effectively raises the limit on what one can save, leading to materially greater wealth in retirement in the vast majority of tax scenarios.
Many simply do not know enough about them.
Amid the effort to roll back the fiduciary reforms, retirement advice providers that moved early to get into compliance with the proposed conflict of interest standards are left to reassess how to proceed.
A coalition of advisers and providers is making the case on Capitol Hill that dialing back DOL guidance supporting state-run retirement savings programs for private sector workers is ill advised.
GOP lawmakers in the House and Senate suggests it is a federal government overreach for DOL to encourage or require states to offer workplace retirement savings programs for private sector workers.
Advisers who inquire about family obligations assert that they provide more comprehensive service.
A Transamerica survey found that 34% of Americans believe extending the Saver’s Credit to all filers regardless of income should be a priority for incoming President Donald J. Trump and the new Congress.
Uptake of the U.S. Treasury Department’s myRA savings program has been slow, but officials suggest tax time is “the right time to talk about saving with myRA.”
Higher growth in account balances was found among consistent IRA owners.
Flat-fee models clearly favored by the DOL for being perceived as less conflicted will have a competitive edge in the new fiduciary future.
The Investment Company Institute is making the case that individual retirement accounts are an integral part of America’s retirement savings system.
However, small and mid-sized business owners survey by The Pew Charitable Trusts do like the idea of auto-IRAs and other ways to provide retirement plans to employees.
Robo-advisers gained some traction in the DC industry this year, and many have come to see how the technology could work with, rather than against, traditional advisers.
The DOL and EBSA announced a final rule to assist large cities and other political subdivisions establish payroll deduction IRAs for private-sector workers.