News

Participants in 401(k) plans administered by Hewitt Associates will now have access to financial advice from Financial Engines.

Bank of America Corp. (BofA) might pump up the salaries of its investment bankers in order to match salaries of the recently acquired Merrill Lynch&Co.

General Motors Asset Management (GMAM) has changed its brand identity to Promark Global Advisors, Inc. (Promark).

Even after the recession ends, Americans said their spending will return to just 86% of pre-recession levels, according to a survey by AlixPartners, a global business-advisory firm.

Six weeks after announcing Mercer would acquire Callan Associates to form one of the largest investment consulting operations, the two firms announced Monday that the deal was off.

The West Penn Allegheny Health System is temporarily suspending its match contribution to employee 403(b) accounts.

Those in Washington are asking fundamental questions about the retirement plan industry—questions that have not been asked in a long time, including “whether what we do works,″ said...

Wachovia Securities has changed its recruiting deal for financial advisers so that it will now base payouts on an adviser’s last three months’ production instead of the traditional...

Private equity consortiums pursuing Barclays' iShares investment unit have until Sunday to submit binding bids, unnamed sources told Reuters.

The latest Fidelity Investments retiree medical expense estimate is that a 65-year-old couple retiring in 2009 will need approximately $240,000 to cover the cost of medical care –...

MassMutual has announced the addition of two sales managers for its defined contribution and Taft-Hartley business segments.

As if retirement savers didn’t have enough problems, last week Fidelity Investments reminded us how much money we’re going to need for health care.

The United Way for Southeastern Michigan has cut management and staff compensation and suspended its 403(b) retirement plan match for a year.

A ruling by a federal judge in the U.S. District Court for the District of Minnesota splits the district on the issue of whether cashed-out retirement plan participants...

The U.S. District Court for the District of New Jersey has refused to issue summary judgment for Merck&Co. on claims the drugmaker breached its fiduciary duties by continuing...

The economic climate might make client retention more difficult—but there’s also opportunity for retirement plan advisers.

The U.S. Department of Labor (DoL) is suing former National Football League (NFL) player Michael Vick and his former financial advisers alleging violations of federal employee benefits law.

Almost three-fourths of polled Americans won’t be spending their tax refund for 2008.

JPMorgan Chase&Co. said it will stop matching 401(k) contributions for its roughly 200,000 workers worldwide, the Dayton Business Journal reports.

President Barack Obama on Wednesday nominated Phyllis Borzi for the position of assistant secretary of Labor, Employee Benefits Security, to head the Department of Labor's Employee Benefits Security...