PGIM Rolls Out First of Set of ETF Expansion; Invesco Acquires MassMutual Asset Management Affiliate; and Horace Mann and SWBC to Offer Investment Solutions for Educators.
Tag: retirement plan investing
The lawsuit not only calls out Fidelity’s use of all proprietary funds in its 401(k) investment lineup, but also accuses it of not negotiating for revenue sharing rebates, not using the lowest-cost share classes, not investigating alternative investment vehicles and not evaluating stable value fund options when its money market funds poorly performed.
A global survey of institutional investors found more in the U.S. said ESG factors can be a source of alpha and risk mitigation, and more institutional investors overall said incorporating ESG factors into their investment approach is part of their fiduciary duty.
As in a previous lawsuit, the complaint questions the fiduciary prudence of investing profit sharing plan assets in the Sequoia Fund, distributed and advised by Ruane, Cunniff & Goldfarb & Co.
Stock market volatility and a major downturn in the stock market seem worrisome for the LGBTQ community as people approach or live in retirement. MassMutual suggests adviser conversations and TDFs may help.
Political motivations and investor recommendations can result in choosing a low-performing investment for a retirement plan.
Corporate plans have significantly increased their U.S. fixed income allocation, while public plans have used the funds from U.S. equity and placed them into alternatives, Investment Metrics finds.
Several defendants, including M&T Bank and certain Wilmington Trust subsidiaries were found not to be fiduciaries and dismissed from the case; however excessive fee allegations and a prohibited transaction claim were moved forward against the bank’s retirement plan committee.
The original complaint accuses T. Rowe Price 401(k) plan trustees of breaching their fiduciary duties under ERISA by either failing to remedy their predecessors’ breaches, or, in a few cases of offering expensive retail class versions of proprietary mutual funds, waiting too long to act to shift into lower cost versions of the funds.
SSGA is following the trend of providers lowering investment fees, and sees an opportunity to attract 403(b) plan sponsors.
PIMCO has requested that a number of documents remain sealed and not be open to the public by the court.
Lincoln Financial creates personalized target-date portfolios; Aon Hewitt-managed pooled funds claim compliance with GIPS; Vanguard launches Global Credit Bond Fund; and more.
The financial firm will pay $6,900,000 in settlement.
For one thing, the appellate court noted that the plaintiff did not use a sufficient benchmark to show that Wells Fargo’s TDFs were an imprudent investment for its 401(k) plan.
Ryan Bailey, head of the Retail Banking Group, Bank of the West, offers tips for plan sponsors to help educate Millennials about the importance of investing.
Morningstar warns that the distinction between "active" and "passive" target-date series has become more muddled in recent years.
Web transactions will start in August, the firm says.