As laid out by a Finhabits report, very few workers save for retirement unless their employer offers them a retirement plan; as a result, only 30% of small-business workers are saving for retirement in the U.S.
A Lincoln Financial Group study revealed little participation rates in governmental defined contribution plans, compared to 401(k) and 403(b) plans.
T. Rowe Price Names Senior DC Specialist; Vanguard Rotates Portfolio Managers; American Century Preps for Major ETF Business Launch; and more.
Any large-scale action on retirement reform will require trust, a willingness to take risk and experiment, and a sense of the greater good.
In spite of increased optimism, a new Wells Fargo survey finds a significant portion of workers still say they do not think they will reach their savings targets; many of them cite the challenge of meeting high health care costs while also saving.
Voya Financial says plan sponsors should not be intimidated about raising default savings rates.
The combined services of the firms are being rolled out in response to employers asking for a comprehensive investment strategy that ties health and retirement benefits together.
Choosing passive investments is a clear and simple way to reduce fees; however, choosing the fund with the cheapest expense ratio does not “equate to checking the fiduciary box,” Cerulli warns.
The introduction of Halley software into PlanSource solutions provides human resources teams with a time-saving tool for deducting benefits costs from payroll, among other capabilities.
The tool leverages a 401(k) database to hone in on the often complex fee structure associated with retirement plans.
Thirty-six percent of business owners who currently do not offer a retirement plan say expected revenue increases in the next year or two will prompt them to offer one.
The complaint states that Gucci America was “particularly egregious” in regards to offering proprietary funds from its service provider Transamerica.
According to plaintiffs, Ruane’s flagship fund, the Sequoia Fund, contained more than $25 billion in assets until the firm “engaged in a misguided and reckless investment strategy.”
The SaaS firm has expanded its platform and initiated new partnerships to help employers easily roll out student loan refinancing as an employee benefit.
The Callan DC Index also shows nearly three-fourths of DC plan account balance growth has been due to investment performance.
The majority of outflows from retirement plan participant accounts came from U.S. equities and company stock, despite powerful stock market returns for the year thus far.
Since the beginning of 2016, 17 firms within the Retirement Plan Monitor coverage set have introduced new retirement readiness resources to participant sites—and 12 of those firms have done so in this year alone.
In 1997, the asset class with the greatest amount of participant assets was company stock, an Alight Solutions analysis finds.
The Investment Company Institute has issued a report, “Ten Important Facts About 401(k) Plans.”
A survey reveals issues employees have with open enrollment season.