Judge Recommends Dismissing Lawsuit Over Custom-Designed 401(k) Fund Choice
The lawsuit challenges the design and monitoring of the Large Cap Fund in CenturyLink's non-union 401(k) plan.
News
Waddell & Reed Settles Self-Dealing Suit for $4.875 Million
The U. S. District Court for the District of Kansas has preliminarily approved the settlement.
Retirement Industry People Moves
Transamerica announces hire and promotions; Mercer closes acquisition of Summit Strategies Group; FIA opens Wellesley office; and more.
Even More Retirement Industry Evolution Expected in 2019
While previous years saw an increased focus on financial wellness educational content—delivered in fliers, websites and mobile applications—providers in 2019 will favor action-based strategies and solutions.
Investment Product and Service Launches
Morningstar Managed Portfolios advisory service will now have allocations to the Morningstar Funds Trust, and DWS partners with Skyline AI for real estate investing.
LIMRA Study Shows Interest in Annuities
The research finds that individuals most likely to be interested in annuities are younger and still working, which LIMRA SRI says creates an opportunity for future conversations for...
Morgan Stanley Revamps Advisory Platform With WealthDesk
After being one of the first national firms to address the DOL’s now-defunct fiduciary rule, the firm says it is turning a new page in client service and...
Pentegra Makes 403(b) MEP Available to Advisers Nationwide
The expanded distribution of the program seeks to take advantage of the Department of Labor’s recent focus on expanding MEP coverage, the firm says.
ERISA Industry Stakeholders Analyze Auto-Portability Potential
While enjoying broad support, at this early stage, it is unclear what responsibility a plan sponsor would retain for data security and accurate processing; in addition, auto-portability solutions...
Millennials the Most Likely to Own Mutual Funds in Their Retirement Plan
Nearly half owned their funds only through their employer-sponsored retirement plans, according to the ICI.
Lawsuit Challenges Health Care Organization’s Governmental Plan Status
A lawsuit claims Atrium Health does not meet the definition of governmental entity under ERISA, so its retirement plans do not fall under ERISA's governmental plans exemption.
Equity Compensation Plan Participants Could Be Holding Too Much Company Stock
To make sure employees’ investment are diversified, Marc McDonough, with Schwab Workplace Financial Solutions, suggests employees should be offered a financial wellness program to help them understand a...
Senate Democrats Propose Retirement Savings Legislation for Working Families
The bill would add federal matching contributions for middle-to-low-income class employees, whether enrolled in an employer-sponsored retirement program or not.
UBS Initiates Rollout of Financial Wellness Offering
UBS Equity Plan Advisory Services released financial wellness digital content offering to equity compensation plan participants, which the firm says is a step towards a broader workplace financial...
myStockOptions.com Updates Website With Education on Tax Reform
myStockOptions.com has updated its website with information on the 2018 Tax Cuts & Jobs Act.
Most Claims in Franklin Templeton Self-Dealing Suit Moved Forward
However, a federal judge gave the firm a win on a claim that its recordkeeping fees were unreasonable.
Setting Defaults and Auto-Escalations Too Low May Undermine their Power
In addition, a person invested in a stable value fund versus someone invested in a target-date fund could end up with a balance as much as 59% lower,...
PBGC Publishes Fiscal Year 2018 Funding Update
“The multiemployer insurance program deficit has narrowed, but it clearly won’t keep the program from running out of money,” says PBGC Director Tom Reeder.
Military Families Working With an Adviser Have Far More Saved
They have more than $260,000 saved, compared with $82,000 for those without an adviser.
Retirement People Industry Moves
E*Trade and Edelman Financial Engines announce custody relationship; Edelman Financial Engines appoints former EBSA leader to board; Investment strategist joins FIA; and more.