Continued net flows out of the DC system, driven by Baby Boomer retirements, could cause more provider consolidation and redoubling of efforts by recordkeepers to keep assets in DC plans.
The long-running litigation appears to be heading for a mediated conclusion, after a contentious discovery process that produced over 260,000 pages of documents and more than 20 depositions.
Experts at the Best of PSNC 2018 event in Boston reviewed plan sponsors’ use of different fund types and fee structures, offering up tips for better analysis of investment and recordkeeping expenses.
The court holds that bundling services or revenue sharing are common and acceptable investment industry practices that frequently inure to the benefit of ERISA plans.
IPX is a modernization of traditional recordkeeping platforms that serve plans with multiple providers.
An announcement this week that Fidelity is launching retail mutual funds with management expense ratios of zero basis points shows how asset managers are evolving to capture a greater share of a shrinking fee pool.
The court’s decision, which leaves room for an amended complaint, is based on questions of timeliness and a lack of standing, rather than on the facts of the relevant compensatory arrangements in place between the defendants.
In creating a unified sales and service structure for DC, DB, multiemployer and association retirement plans, the firm wants to provide a more consistent experience for both advisers and plan sponsor clients regardless of market size, location or organizational structure.
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.