A record 516 new plans were funded in 2007, with total plans serviced growing to 2,825, a 15% increase from 2006.
The rule would increase protection for employee contributions to pension and welfare-benefits plans for smaller firms.
Last week's U.S. Supreme Court decision to allow individual participants to sue 401(k) plan administrators will put further pressure on financial advisers to ensure that they are adhering to their fiduciary status, industry observers say.
Managed accounts aren't popular default options in 401(k) plans, because fees are too high for plan executives to justify, leaving them concerned about fulfilling their fiduciary responsibility, experts say.
While target marketing usually means targeting a specific audience, sometimes a product target also can bring success.
Today’s Supreme Court decision will impact 50 million workers with $2.7 trillion invested in 401(k) plans.
Defined contribution record-kept assets at Fidelity Investments grew 8% last year.
Cynthia King will be head of products for the the company’s Employer Markets Defined Contribution and Executive Benefits Business segment.
Despite initial concerns about portability, cost and complexity, annuities in defined contribution plans are slowly gaining momentum, according to a new report.
Complying with new 401(k) fee disclosures will be an arduous task, said a number of leading attorneys.
The new benefit will go with UBS’s target retirement funds and other investment options.
A total of $50 million in 401(k) assets moved into diversified equities from fixed-income investments during December, according to the Hewitt 401(k) Index.
Employee plaintiffs are lining up to sue the major brokerage firms over losses in company stock.
Starting in 2009, new rules will change the landscape of the 403(b) industry, making the plans look more like 401(k)s and increasing their attractiveness to savvy advisers in the process, industry leaders believe.
The group comprises 18 record keepers and investment providers that serve the market for the defined contribution plans sponsored by school systems and hospitals.
Dave Liebrock will be an adviser at Captrust, working mostly with plan sponsors in the mid-market 401(k) space.
Defined contribution plan administrators may be fined $1,000 a day if they fail to disclose documents to participants.
“This bill will shed light on the 401(k) selection process and give Americans more control over their retirement future,” Sen. Tom Harkin said.
The Department of Labor proposed a new rule for fiduciaries meant to increase fee disclosure in 401(k)s.
Assets in individual retirement accounts grew 16.5% in 2006 to a record $4.23 trillion, according to EBRI.
