Lawmakers renew push to increase SIMPLE plan contributions
The legislation would bump up the annual contribution limit, taking it from the current maximum of $13,500 to $16,500. Sens. Susan Collins and Mark Warne note the proposed increase is the midpoint between SIMPLE plans and traditional 401(k)s.
Vetting annuities for 401(k)s not an easy task
While it’s simple to choose annuity providers based on price and payout rates, those costs and rates can change frequently, so the best options today might not be as good in several years, a new report concludes.
401(k) Real Talk: April 16
This week, Fred reviews coverage of whether Prudential Retirement is for sale, new guidance on the DOL’s fiduciary rule and more.
Potential Pru Retirement sale a cautionary tale of a 401(k) innovator
It is no wonder, but certainly disappointing, that one of the industry’s most innovative providers, Prudential Retirement, is reportedly exploring a sale. That highlights how much record keeping has become a commodity focused on scale and costs.
DOL arms investors with rollover questions that could catch some advisers off guard
The timing of those questions, such as ‘are you a fiduciary?’ is not great for advisers relying on the DOL’s temporary enforcement policy until Dec. 20, the compliance deadline for the new rules, one lawyer said.
Many affluent retirees reluctant to draw down savings
Some leading retirement experts are questioning whether advisers should rethink their assumptions about retirement spending when creating financial plans.
RETIREMENT NEWS
Hub acquires assets of $1.6 billion retirement firm
Peter Vacheron and the team at IBG Financial Partners in Foxborough, Massachusetts, will join Hub’s retirement unit.
Prudential weighs sale of its retirement arm
Unloading the business could bring in more than $2 billion, as CEO Charles Lowrey executes a three-year strategy to transform the business.
DOL releases guidance on Trump-era fiduciary rule
In a set of frequently asked questions, the agency said a recommendation to rollover retirement funds from a company plan to an individual retirement account can be part of an ongoing client-adviser relationship and trigger a fiduciary standard of care.
Luma partners with Cannex to offer annuity data tool
Luma aims to get a broader set of advisers to engage with annuities with access to the Cannex database and annuity-focused tools.
Diminished capacity creates new investment risk
A new white paper says financial services firms must adapt to the threat or pay the price.
VIDEO
Preston Rutledge on GAO and cybersecurity
Fred Barstein and Preston Rutledge discuss the GAO focus on cybersecurity around retirement plans, and what that might mean for advisers.
401(k) Real Talk: April 2
Fred Barstein talks about cybersecurity risks for remote workers, Hub’s new small-plan service and other news from the past week.
401(k) Real Talk: March 26
Fred Barstein discusses the lingering effects of the pandemic on retirement, changes in longevity, how sponsors view emergency savings and other stories from the past week.
401(k) Real Talk: March 19
This week, Fred Barstein gives his thoughts on cybersecurity in 401(k)s, whether record keepers are fiduciaries, a report on retiring by age 55 and other top stories.
401(k) Real Talk: March 12
This week, Fred reviews developments in 401(k) lawsuits, the Zenefits and Betterment collaboration and other stories.