Specific policy changes and plan sponsor initiatives can make guaranteed lifetime income a norm in the DC plan space, TIAA suggests.
An excessive fee lawsuit has been filed against fiduciaries of the Novitex Enterprise Solutions Retirement Savings Plan, a 401(k) plan which had more than $157 million in assets as of the end of 2015.
A federal district court ruled the plaintiffs did not meet all the pleading standards set forth by the U.S. Supreme Court.
The mutual-fund based program also offers an in-plan retirement income option and access to 3(38) fiduciary services.
Participants allege the company should have allowed a single recordkeeper to service its traditional DC plan and its 403(b) plan—and that it permitted excessive fees by paying for distinct administrative services for each.
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.”
There have been a rash of third-party administrator (TPA) acquisitions recently, and TPAs are offering new services.
Of those who do seek retirement investments advice, financial advisers are the most utilized source, according to a survey by Betterment.
As the DOL lays out, the primary purpose of the proposed delay of full enforcement is to give the department the time necessary to consider possible changes and alternatives.
A court certified a class in the consolidated lawsuit after first rejecting BB&T’s arguments that the class did not meet commonality and typicality requirements.
Fidelity reports that a record number of plan sponsors are actively looking to switch their plan advisers.
A federal court judge found most claims were not plausibly alleged by the plaintiffs.
The lead plaintiff suggests the providers created an asset allocation solution designed to seed high-fee funds over lower-cost options—charges the firms flatly deny.
The underlying complaint challenges the process and motivation surrounding the termination of a group annuity contract.