The text of the new decision says the second amended complaint has failed because “it is an attempt to replead dismissed counts,” and because it includes an entirely new cause of action, violation of the Racketeer Influence Corrupt Organizations Act.
The Wisconsin Association of Independent Colleges and Universities announced a partnership with Transamerica to create a 403(b) multiple employer retirement plan specifically for its educational institution members.
Mobile-friendly, responsive web portal design has increased in the retirement industry to match consumers’ rising desires to be able to complete routine tasks without being tethered to a computer.
Research reveals that less than half of sponsors believe that employees are solely responsible for their own retirement savings and investing decisions, but greater than three-quarters of participants feel that they have sole responsibility for these decisions.
According to the firms, the “one wallet” approach provides employees with a holistic view of their overall wealth and health when electing their workplace benefits.
Today, just 8.8% of “mega plans” with assets greater than $1 billion utilize a fully bundled structure.
The firm’s retiree program is designed to provide plan participants the essential guidance needed to manage assets through retirement from within the qualified plan.
Similar to many excessive fee lawsuits filed against single-employer plans, the complaint accuses a multiemployer plan of failing to leverage its bargaining power to obtain lower investment and recordkeeping fees.
In the new complaint, participants attempt to offer more evidence for claims that were dismissed in another pending lawsuit.
Segal Hires Former Consultant on Employee Benefit and Health Care Strategies; Janney Montgomery Scott Adds New Workers to Equity Research Group; Recordkeeping and Consulting Firm Joins ABG; and more.
One of the first indicators investors will see on their new home page is a personalized recommendation for improving retirement readiness.
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.
The tool leverages a 401(k) database to hone in on the often complex fee structure associated with retirement plans.
In a series of articles, PLANSPONSOR is profiling industry groups that work for retirement and health plan sponsors to protect them from onerous burdens and help them with plan design and administration. In this article we profile the American Benefits Council (ABC).
A federal court judge basically found many of the allegations stated normal business practices and the plaintiff did not offer enough arguments to support her claims.
The mutual-fund based program also offers an in-plan retirement income option and access to 3(38) fiduciary services.
A lawsuit alleges that asset-based fees led to the plan paying $1,819 per participant for recordkeeping services in 2015.
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.
The Department of Labor recommends the incorporation of workforce demographics into QDIA design; different providers have different philosophies about the best way to do this.
A federal court judge found most claims were not plausibly alleged by the plaintiffs.