Financial advisers and industry veterans are worried that investors might reduce or halt their contributions to 401(k) plans if the economy worsens this year.
In order to receive a deduction for charitable contributions in 2008, the client must meet new, stricter substantiation rules.
Because current yields on Treasury obligations are at historic lows, certain estate planning techniques can be very attractive.
Standard and Poor’s Ratings Services today lowered its counterparty credit and financial ratings on Nationwide Financial, the life insurance division of Columbus, Ohio-based Nationwide Mutual Insurance Co., to A+, from AA-.
Tremont Group Holdings, which is owned by OppenheimerFunds Inc., a subsidiary of Massachusetts Mutual, had $3.3 billion invested with Mr. Madoff — more than half of its total $5.8 billion under management.
The mutual fund industry today attempted to make a pre-emptive strike against congressional efforts to reduce tax breaks for 401(k) plans or to make major changes in the system.
A federal jury yesterday convicted two former KPMG LLP executives and a tax lawyer of tax-evasion charges in one of the largest tax-shelter cases of all time, according to published reports.
More than 7% of 401(k) assets were invested in target date funds at the end of 2007 and 25% of 401(k) participants held the funds, according to an analysis released today.
Axa SA of Paris, Massachusetts Mutual Life Insurance Co. of Springfield and Swiss Reinsurance Co., as well as other all-star companies, have also been exposed to Mr. Madoff’s alleged $50 billion Ponzi scheme.
While finding an appropriate independent property worth $1 million may be difficult, there are always opportunities available to invest in a larger property as a tenant-in-common to defer capital gains tax.
Those regs, slated to go into effect Jan. 1, require that retirement plans run by non-profit groups must have new plan document rules in place.
Morgan Stanley downgraded ING Groep NV, Standard Life PLC and Aegon NV to “underweight” from “equal weight,” expecting more challenges ahead for the insurers, Reuters reported.
Excise taxes imposed on retirement savings account holders who do not take minimum distributions by age 70½ would be suspended for 2009 under legislation unanimously approved last night by the House of Representatives.
The Allstate Corp. of Northbrook, Ill., has announced the departure of James E. Hohmann, president and chief executive of Allstate Financial LLC, who is leaving on Jan. 5.
Your client owns a small business that operates as a subchapter S corporation. She elected S corporation status when the individual tax rates were lower than those for a C corporation.
Fidelity Investments of Boston today launched a program that allows investors to save for retirement while spending money.
MetLife Inc. today said that its fourth-quarter profits will be up from the 2007 period and that it will reap the benefits of investment gains.
The National Association of Insurance Commissioners of Kansas City, Mo., yesterday adopted a new proposal to modernize state-based regulation of reinsurance.
In an effort to maintain a tight grip on retirement assets, some major 401(k) providers — including The Charles Schwab Corp. — are considering lowering the investment management fees they charge to employers.
