Different Flavors of Fee Levelization
As one of the first steps of pursuing fee levelization, plan sponsors and advisers should consider whether participants will be charged on a “pro rata” or “per capita” model.
Tag: Recordkeeping
AT&T Defeats ERISA Challenge, but Amended Complaint Is Likely
The decision by the U.S. District Court for the Central District of California is short and to the point, stretching just 15 pages and ruling only weakly in favor of the AT&T defendants’ motion to dismiss by allowing room for an amended complaint.
FPS Group Updates IPX Platform Supporting 403(b), 457(b) Advisers
The IPX platform provides RIAs with a more manageable entry point into the complex 403(b) and 457(b) markets by streamlining the requisite custody, trust, trading and administrative services.
Stakeholders in DC Plan Industry Must Come Together for Plan Success
Despite the tremendous progress of the last decade, there remain some “surprisingly different perspectives” among plan sponsors, recordkeepers, and individual participants when it comes to priorities and best practices, according to a new Cerulli report.
Transamerica and Businessolver Link Health and Wealth Recordkeeping
Businessolver President and CEO Jon Shanahan says a new joint solution being rolled out with Transamerica better acknowledges the “intrinsic relationship between wealth and health” by delivering a “one wallet” approach.
Fee and Industry Shifts Mean Retirement Plan Providers Can Play Hardball
A look back at how Fidelity will charge new plan sponsor clients on its platform who choose Vanguard products makes visible the hard-nosed competition that defines the retirement plan recordkeeping and brokerage industries.
Riskalyze, Vestwell Partner on 401(k) Platform
It is an end-to-end solution designed to make is easy for advisers to propose, onboard and serve 401(k) plans.
Retirement Income, Managed Accounts and ‘Shadow Fiduciaries’
New Cerulli research shows the most common reason for which 401(k) plan sponsors offer participants a managed account service is that it can be positioned as a retirement income solution; also considered is the emergence of so-called “shadow fiduciaries.”
Bundled Versus Unbundled DC Plan Arrangements
The proportion of plans that are at least partially bundled fell dramatically from 53.8% in 2016 to 44.0% in 2017, a continuation of the unbundling trend, according to Callan.
Investment Products and Services Launches
Swerdlin & Company Integrates Stadion Storyline; Vanguard Offers First U.S. Actively Managed ETF Suite; and AAM Enters U.S. ETF Market with New Dividend Funds; and more.
New Complaint Alleges Excessive Fees in NYU Plans
This case was filed against NYU Langone Hospitals, NYU Langone Health Systems, the retirement plan committee, and several named defendants.
Understanding Fiduciary Liability Insurance
In a
world of heightened fiduciary scrutiny, plan sponsors need to pay close
attention to the language of fiduciary insurance policies.
SPARK Offers Best Practices for Recordkeepers to Report Cyber Security Capabilities
Last year, The SPARK Institute formed a Data Security Oversight Board (DSOB), comprised of both recordkeepers and members of the plan adviser community.
Excessive Fee Suit Filed Against Novitex 401(k) Plan Fiduciaries
A participant says a plan with more than $157 million in assets has the bargaining power to negotiate lower fees for administration and plan investments.
University of Pennsylvania Wins Dismissal of Case Against 403(b)
The case had challenged multiple recordkeepers, multiple investment options and the use of retail share class funds.
Voya Bringing Framework Retirement Program to 403(b) Market
The program’s open-architecture design offers access to hundreds of best-in-class mutual fund families.
Gucci Retirement Plan Sued for Charging Excessive Investment Fees
A participant accuses the firm of failing to prudently
monitor and assess investment options for the plan.
ERISA Suit Targeting Essentia Health Retirement Plans Will Proceed
Both parties together filed some 1,000 pages of paperwork, which the court declined to consider in denying the employer's motion to dismiss, in which it argued its plan administration practices fit within established norms.
Participant in Small Plan Files Excessive Fee Suit Against Voya
The lawsuit alleges that Voya charged the plan “an unreasonable asset-based fee of between 0.67% and 1.86% of the net assets invested in the various mutual funds offered as investment options.”
Forecasting the Future of Your TPA Partnerships
Retirement plan advisers work closely with recordkeepers and
third-party administrators, and as in the recordkeeping market, there are
significant and persistent pressures reshaping the TPA landscape.