The re-introduced House bill would permit annuities as 401(k) default, with a limit of 50% of retirement contributions.
Xtrackers by DWS announces a new ETF; Principal launches hybrid QDIA; Penn Mutual introduces Protection Whole Life; and more.
Unlike many other ERISA lawsuits, the complaints suggest the plan fiduciaries in question should have considered more expensive target-date funds that might have performed better.
The bill, which has been introduced in previous legislative sessions, would allow annuities to be a default investment in employer-provided 401(k) plans.
The firms, which collaborated to launch a new adviser managed account solution, say the retirement plan industry has both the capability and the obligation to close the workplace retirement savings coverage gap.
Advisers should be educated about annuities and how to analyze them to help plan sponsors decide the best products to use.
This is the first time it is pairing a managed account and retirement planning solution from its chief investment office.
A managed account program’s fees can be cut in half if it’s selected as a retirement plan’s default investment, although cost is just one of many important due diligence factors.
Plan sponsors that fully automate their plans are more likely than others to believe their workers are on the path towards a financially secure retirement, J.P. Morgan found.