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Fink says workers need mandatory savings for retirement
BlackRock Inc.'s (BLK) Laurence D. Fink, head of the world's largest asset manager, said U.S. employers should be required to put money aside for their employees' retirement, similar to Australia's superannuation system. “The current system is not working and we need a comprehensive approach that
Float suit vs. Fidelity
The next wave of litigation against 401(k) providers has arrived, with Fidelity Investments facing yet another lawsuit tied to the company's handling of money generated from plan assets.
Float hopes? Another investor sues Fidelity over use of temporary funds
Another plan participant has filed suit against Fidelity, claiming the company misused float income generated off of some $46B held in 401(k) accounts.
Advisers stung by 'Frontline' attack
Advisers' reaction to the PBS documentary slamming advisers was ... well ... hardly surprising.
Fiduciary backer Hutcheson found guilty of 17 counts of wire fraud
Officials charged he diverted $5 million in client money; civil case proceeding.
Widower can collect survivor benefits now, retirement benefits later
So often when I write or talk about Social Security benefits, I refer to the fact that actuarially, women are likely to survive their husbands. Consequently, many of my discussions of survivor benefits focus on widows.
Younger workers would take brunt of Obama's IRA curb
President Barack Obama's proposal to curb individual retirement account accumulations is likely to take a toll on the savings of younger workers.The provision, a part of the $3.77 trillion budget proposal for 2014, which was released today, would require that IRAs and other tax-preferred retirement
Fiduciary champion gets his day in court
Renowned 401(k) fiduciary advocate Matthew D. Hutcheson's day in court began today when his federal criminal trial got under way.Mr. Hutcheson, a plan adviser who appeared before Congress in 2010 to support applying the fiduciary standard to 401(k) advisers, is facing 17 counts of wire fraud from
GAO: Workers hurt when rolling over 401(k) plans to IRAs
Workers are being encouraged to roll their 401(k)s into IRAs, but that might not be the best plan of action, the GAO says. Solution? Use plain English, for one thing.
American Funds ups its game in retirement arena
Faced with outflows in retirement share class, American Funds launches new lineup of products, adds new options for advisers.
401(k) loans usually not taken out frivolously, lawmakers told
When it comes to sealing the leaks from 401(k) plans, the question we ought to ask isn't just how to prevent loans and withdrawals — but why do participants pull cash prematurely from their plans in the first place.That question kept surfacing during a hearing on Tuesday afternoon held by the
Retirement plan advisers undercharging: Panel
When it comes to retirement plans, reps need to start getting paid what they're worth. That's the consensus a group of broker-dealer executives reached on a panel at the American Society of Pension Professionals & Actuaries' 401(k) Summit in Las Vegas yesterday afternoon. “Advisers should be
Reports of the death of retirement savings greatly exaggerated
New data reveal more cash stashed away than thought; plan sponsors wising up.
Footnote offers toehold in to rollover business, but snares abound
Contrary to conventional wisdom, 401(k) fiduciary advisers can obtain rollover business from their plans. The key? A process that helps them steer clear of prohibited transactions. That was the theme of a seminar at the American Society of Pension Professionals & Actuaries' annual 401(k) Summit in
Advisers pitching 401(k) plans: Do your homework
As more advisers jockey for 401(k) business, they'll have to find different ways to stand out among prospects and win new plans.Research from Franklin Templeton Investments shows that plan sponsors turn to referrals from peers to uncover advisers they'd like to work with rather than responding
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Mary Beth Franklin, InvestmentNews
Harley Gordon, CLTC