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Shah, who until January was running Empower’s consumer wealth management division, will head EFE as current CEO Larry Raffone takes the role of chairman.

Great-West, parent of Empower, will shed its asset management division but gain a 6.2% stake in Franklin.

The firm cited ‘technical’ issues in a letter of acceptance for overstating projections for 8.5 million accounts.

Smart’s global assets under management soar to more than $10 billion following its recent $95 million Series E funding round. 

The agreement would extend the debt ceiling until January 2025.

25% of HR leaders said they are cutting back on employee financial benefits to prepare for a recession, a Morgan Stanley at Work study reveals. 

SEC Chairman Gary Gensler offered a spirited defense of the swing pricing proposal in a conversation with ICI’s Eric Pan.

Six former employees lost their lawsuit against the auto parts company, that claimed it allowed 401(k) participants to pay excessive recordkeeping and investment fees.

Cambridge Associates names Davidson as president, head of investing; retirement consultant Mischell Joins Agilis as managing director; ACA Group appoints Olson as CEO; and more.

The proposal would provide the needed changes to securities laws that were missing from SECURE 2.0.

PRT sales have broken records yet again, as the market grew another $6.3 billion in the first quarter of this year, according to LIMRA.

Choreo launches Choreo Partner Alliance; Gainbridge announces upcoming B2B insurance-as-a-service platform; New York Life introduces new suite of term life products; and more.  

Average retirement account balances increased by 5% from last quarter, in positive movements.  

The letter did not outline a timeline but identified four technical errors and ambiguities to be fixed.

Samantha Davidson will arrive from Mercer to take the reins in July, as Noel O’Neill moves into a new investment implementation position.

Goldman Sachs Asset Management continues to add resources to outsourcing business with appointments to leadership roles.

The clearinghouse alerted more than 10,000 people that private information, including IRA account data, may have been stolen.

Unclear communication from plan sponsors too often gets in the way of participants fully understanding the benefits available to them. 

Workers employed in finance and health care industries were responsible for contributing the bulk of defined contribution retirement plan assets under management.

Among current U.S. workers, retirement confidence fell by 9 percentage points, the largest drop since a 10-point slide in 2009.