DOL Considers Changing Standards for Annuity Provider Selection
Interpretative Bulletin 95-1 could be in for an overhaul this year or next.
Latest News
Industry Players Want Mandatory Roth Catch-Up Implementation Delayed
The list of industry groups calling for more time on Roth catch-ups is growing rapidly.
Financial Finesse Invests in OfColor to Empower Employees of Color
The financial wellness platforms aim to address the ‘soaring rates of financial stress among employees of color’ with this partnership.
Verizon Reaches $30M Settlement in 401(k) Complaint
The 2016 lawsuit accused Verizon of failing to monitor a hedge fund in its retirement plan TDFs.
Ownership Structure, Investment Strategies of Annuities Concern Sponsors, ERISA Council Says
The ERISA Advisory Council discussed emerging trends in the annuities market, as well as concerns expressed by sponsors and other shareholders.
Principal, T. Rowe Price Extend Retirement Planning, Product Solution Distribution Divisions
The investment managers and recordkeepers are expanding their focus with outside hires and promotions.
Fiducient Advisors Names Bailey to CEO Role
Fiducient names Sabrina Bailey as CEO successor to co-founder Bob DiMeo.
DOL Secures $124 Million Settlement on Behalf of DST Systems Participants
DST Systems Inc. was accused of mismanaging its profit-sharing 401(k) plan and failing to diversify the plan’s assets, which resulted in large losses, according to the settlement.
IRS Gives Extra Time to Fix RMDs Made Erroneously Under SECURE 2.0
The IRS notice also allows IRA beneficiaries to not take RMDs this year from accounts inherited in 2020 or later.
Manufacturing, Transportation, Retail Pension Funds Receive PBGC Bailouts
Special Financial Assistance funds were granted to three struggling pension plans by the PBGC on July 11.
DOL Seeks Independent Fiduciary for 401(k) Plan of Closed NY Construction Company
When L D Wenger Construction Co. Inc. ceased operations, its 401(k) plan was deserted by the fiduciary, barring retirement plan participants from access to their retirement assets, the...
Republicans Take Aim at Proxy Voting Firms
Congressional Republicans allege that proxy firms give advice based on political preferences, not investors' financial interest.
Asset Diversification in DC Plans: Opportunity for Tremendous Growth, Study Finds
If applied to all US target-date options, the incorporation of illiquid assets could represent $5 billion in additional net returns, according to a Georgetown University research report.
Ascensus Brings on Asset Management Executive as President
Former Pendal Group CEO Nick Good will report to CEO and Chair David Musto.
MOVEit Data Breach Hits Fidelity via Vendor PBI
More than 371,000 retirement plan participants had data exposed in a breach in late May, according to PBI.
Retirement Industry People Moves
Perigon selects Hasan as CIO; State Street appoints Donohue as head of sustainability; GoldTree hires Plotke as principal.
Senate Appropriations Committee Advances Funding for SECURE 2.0 Lost and Found
The committee’s spending bill appropriates $14 million for the creation of a retirement account database.
403(b) Suit Against Wake Forest Health Center Settled for $3.8M
Settlement comes about two years after initial complaint of fiduciary negligence and excessive fees.
Products |
Investment Product and Service Launches
Schwab introduces tools for workers with student loan debt; CapIntel launches proposal builder for SEC Marketing Rule compliance; Penny Finance adds automated money insight.
Benefits |
Nava Benefits Acquires Consulting Firm to Improve Employee Experience
Nava and Nielsen Benefits Group plan to make cost-effective health care more accessible for small and midsize employers.