PANC 2014: Plan Fee Challenges
Fees assessed in a retirement plan can have many different shapes and sizes, pointed out Vincent Morris, president of Bukaty companies and moderator of a PANC 2014 panel...
Tag: Recordkeeping
Some Participants View Recordkeeper as Adviser
Research from financial analytics firm Cerulli Associates shows more than a quarter of 401(k) participants look to their plan’s recordkeeper as their primary source of retirement advice.
Government Backs Top Court Review of 401(k) Plan Fee Case
The U.S. Solicitor General has filed a brief asking the United States Supreme Court to review parts of a widely followed 401(k) fee litigation case, Tibble v. Edison International.
Making Sure the Form 5500 Is Ready to File
Annual filings always bring a swirl of activity, and July 31 is no different. It also brings a cloud of confusion for plan sponsors, according to Form 5500...
Fidelity IRA Contribution Rates at Record Levels
Average individual retirement account (IRA) contributions for tax year 2013 reached $4,150—a 5.7% increase from 2012 and an all-time high, according to Fidelity Investments.
Equity Overweighting Likely as 401(k)s See Record Balances
Savings in defined contribution (DC) retirement plan accounts recordkept by Fidelity grew 12.9% in the last year, to an average balance of $91,000.
RiversEdge Offers Mobile App for Plan Participants
RiversEdge Advanced Retirement Solutions announced its mobile application is now available to retirement plan participants whose accounts are recordkept by the company.
M Financial Adds J.P. Morgan Retirement Link to Platform
M Financial Group, a financial services distribution company based in Portland, Oregon, has added J.P. Morgan Asset Management’s Retirement Link plan offering to its retirement plan platform.
CEFEX Adds Data Security Awareness to Certification
The Center for Fiduciary Excellence (CEFEX) expanded its adviser certification test to include more data security questions, reflecting the industry’s heightened awareness of cybersecurity threats.
Putnam’s Peer Comparisons Cause a Rise in Deferrals
Showing plan participants how well and how much their best-performing peers save is highly motivating, Putnam Investments finds.
USRP Acquires Common Remitter Business
U.S. Retirement Partners (USRP), through its U.S. Employee Benefits Services Group (USEBSG) division, has acquired the Common Remitter Services business of CPI Qualified Plan Consultants, Inc.
Stranded Retirement Accounts a Growing Problem
Abandoned 401(k) accounts don’t do anyone any good, and they just may be hitting critical mass, according to the Retirement Clearinghouse.
Fiduciaries to Restore Contributions to Maryland 401(k) Plan
A lawsuit brought by the Department of Labor (DOL) recently resulted in a court judgment that orders the fiduciaries of a Columbia, Maryland, 401(k) plan to pay restitution...
TIAA-CREF to Acquire Nuveen Investments
Financial services provider TIAA-CREF announced an agreement to acquire Nuveen Investments, a diversified investment management company.
Retirement Revolution Integrates ‘SmartPlan’ Solution
Recordkeeping and custodial services provider Retirement Revolution added vWise’s SmartPlan Enterprise solution to its retirement plan product offerings.
Play Money: Financial Literacy as a Game
Participants might respond better to education if it’s more like a game, says Chris Whitlow of edu(k)ate, an app developer that delivers gameified financial literacy.
Stronger Education, Stronger Outcomes
It’s a phenomenon unique to the retirement planning advice industry that even those participants who make good investment decisions often don’t know they’re making good decisions.
Fiduciary Liability and Form 5500 Reporting
Retirement plan sponsors can outsource much of the work involved in filling out and filing annual Form 5500s, but they’re still responsible for the results.