Defined Contribution Plans
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You can thank or blame Richard Stanger for writing 401(k)
Richard Stanger was a primary author of a little-noticed piece of a 1978 tax law, an 869-word insert that was lost in the political heat of the time.
Investors brace for a rocky ride with stocks
Breakfast with Benjamin: January was rough, and though Seattle winning the Super Bowl is a good omen for stocks, it's going to be a bumpy ride. Also: How defined contribution assets surged, celebrating 25 years as a top PM, who to thank (or blame) for 401(k)s, finding gems in the emerging markets
BlackRock creates U.S. retirement group led by Chip Castille
He will remain head of the DC business; Bruce Wolfe is COO of new business.
Americans vow to shed debt in 2014 but few commit to financial planning
On this first business day of 2014, I couldn’t resist pulling together some New Year’s resolution polls to give financial advisers a hint of what their current and prospective clients may be thinking. It seems nothing erases a bad memory like a recent triumph. Only five years have passed since the
Factoring travel dollars into financial plans
Though a majority of retirees' wish lists include trekking the world, few plan ahead for such costs.
DOL seeks high court action on company stock in 401(k)s
The appeal of company stock as an investment option in defined contribution plans could dim considerably if the Department of Labor succeeds in having the U.S. Supreme Court revisit the issue of fiduciary prudence in managing that option. The department's petition to the Supreme Court, filed Nov.
Regulatory changes driving up demand for retirement plan advisers
A flurry of changes to how the federal government oversees retirement plans could provide financial advisers with the opportunity to work more closely with employers on these plans, industry professionals said on Tuesday. “We can’t hire people fast enough to keep up with demand,” said Jania Stout,
Shutdown leads retirement plan regulator to hit pause
Thanks to the shutdown of the federal government, the Labor Department's Employee Benefits Security Administration likely will have to hit the “pause” button on certain investigations and enforcement actions. Generally, federal employees are unable to work if there is no funding available, but some
Small-biz retirement plan options launched by Genworth
Genworth Financial Wealth Management Inc. on Monday launched Retirement Connections, a set of retirement plan options that financial advisers can offer to their small-business-owner clients. “Business owners are overwhelmed with the affairs of running a business,” said Michael Kim, senior vice
Design of 'top hat' plans benefits high earners
Originally designed to allow a company's highest-paid executives to defer their annual cash bonus, nonqualified deferred-compensation plans have evolved into flexible, multiuse executive retirement plans — with investment options similar to their qualified-retirement-plan counterparts.
ERISA lawyers: Professor's take on 401(k)s is bunk
Say plan sponsors should follow 'prudent process' to evaluate service providers.
Hutcheson's tumble offers lessons
Some harsh lessons are in order for financial advisers and plan sponsors after the sentencing of famed 401(k) fiduciary advocate Matthew D. Hutcheson. Mr. Hutcheson, well known for speaking before Congress on the merits of fiduciary duty, will serve more than 17 years in prison after making off
Putnam's Reynolds repeats call for automatic workplace retirement savings
Robert Reynolds has reiterated his call for employers to put workers and their retirement plans on autopilot. “Let's go 'full-auto'— auto-enrollment, auto-re-enrollment annually, auto-escalation to higher deferrals plus automatic default to qualified target date or balanced funds and protection
CalPERS switches to all-passive DC plans
When CalPERS talks, people listen. Hear this: the pension fund giant is switching to all passive funds in its DC plans, citing lower costs, participant preference.
Five budget items that target retirement accounts
Five proposals were included in this year's federal budget that directly relate to retirement accounts. Here is a rundown of each proposal, its main benefit and its drawback.
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February 27, 2014