Retirement

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DOL continues to have qualms about Fidelity’s crypto 401(k) product
RETIREMENT PLANNING MAY 19, 2022
DOL continues to have qualms about Fidelity’s crypto 401(k) product

DOL acting assistant secretary Ali Khawar isn't reassured by the consumer safeguards included in Fidelity's Bitcoin offering for retirement plans.

Retirement savings up in a down market, says Fidelity
RETIREMENT PLANNING MAY 19, 2022
Retirement savings up in a down market, says Fidelity

More people were saving for retirement in Q1, data show. Unfortunately, the market's sell-off caused them to lose money.

Northwestern Mutual adds ESG option for wealthy clients
LIFE INSURANCE AND ANNUITIES MAY 18, 2022
Northwestern Mutual adds ESG option for wealthy clients

The new 'white glove, customized' options for high-net-worth clients are available from the company’s advisers.

State auto-IRA initiatives flowering in May
RETIREMENT PLANNING MAY 16, 2022
State auto-IRA initiatives flowering in May

California is looking to expand its auto-IRA program, while Missouri, Arizona and Hawaii are considering joining the club.

Fidelity study shows retirees way off on health care cost estimates
RETIREMENT PLANNING MAY 16, 2022
Fidelity study shows retirees way off on health care cost estimates

Fidelity estimates a 65-year-old couple retiring this year will spend $315,000 on health care and medical costs throughout their retirement, which is up 5% from its estimate last year.

Transamerica adds emergency savings accounts
RETIREMENT PLANNING MAY 13, 2022
Transamerica adds emergency savings accounts

The insurance company is now offering its own line of rainy day funds for employees.

Steeled by crises, millennials ready for retirement challenges
RETIREMENT PLANNING MAY 13, 2022
Steeled by crises, millennials ready for retirement challenges

A pair of studies proves that millennials are better prepared financially than people realize.

Cryptic crypto doesn't square with qualified retirement plan fundamentals
OPINION MAY 13, 2022
Cryptic crypto doesn't square with qualified retirement plan fundamentals

Crypto assets have not provided audits and other standard modes of verification, which disqualifies them as prudent investments.

Kestra adds Envestnet’s retirement solutions
RETIREMENT PLANNING MAY 11, 2022
Kestra adds Envestnet’s retirement solutions

Plan advisers will be able to use Envestnet's retirement plan tools on the Kestra platform.

Advisers caught between Fidelity, DOL on using crypto in 401(k)s
RETIREMENT PLANNING MAY 11, 2022
Advisers caught between Fidelity, DOL on using crypto in 401(k)s

Fidelity wants to make it easier to allocate 401(k) assets into Bitcoin, while the Department of Labor is warning plan fiduciaries to be extremely careful about using crypto.

2023 Social Security COLA could be biggest in 40 years
RETIREMENT PLANNING MAY 11, 2022
2023 Social Security COLA could be biggest in 40 years

The April report on consumer prices suggests inflation could result in an 8.6% cost-of-living adjustment to next year’s benefits.

CI Private Wealth applies for trust company charter in South Dakota
RIAS MAY 10, 2022
CI Private Wealth applies for trust company charter in South Dakota

The move will allow CI Financial to provide trust solutions to high-net-worth and ultra-high-net-worth clients.

N.J. adviser charged with posing as police officer in botched robbery
LIFE INSURANCE AND ANNUITIES MAY 10, 2022
N.J. adviser charged with posing as police officer in botched robbery

Anthony Naso and an accomplice identified themselves as law enforcement and wore police-style badges during an attempted robbery in 2020, according to police.

Target-date funds continue to be 401(k) favorites
RETIREMENT PLANNING MAY 09, 2022
Target-date funds continue to be 401(k) favorites

Participants in their 20s have more than half their retirement plan assets in the funds, a study by ICI and EBRI shows.

Avantax boosts recruiting bonus to add advisers
PRACTICE MANAGEMENT MAY 06, 2022
Avantax boosts recruiting bonus to add advisers

Providing hefty bonuses to recruit financial advisers is like a sugar rush: sweet at first but it comes with a downside.

Broadridge launches effort to create retirement income solutions in plans
RETIREMENT PLANNING MAY 06, 2022
Broadridge launches effort to create retirement income solutions in plans

Retirement Income Consortium members include major investment, plan managers.

Small employers are interested in PEPs, survey finds
RETIREMENT PLANNING MAY 06, 2022
Small employers are interested in PEPs, survey finds

Businesses want more information about pooled employer plans, but they're not ready to act.

Social Security underpaid older children by nearly $60 million
TAX MAY 05, 2022
Social Security underpaid older children by nearly $60 million

Minor and disabled children are eligible for benefits when a parent retires or dies, and those benefits extend until the child is 18 — or 19 if still in high school.

Crypto-rich puzzle over how to pass high-risk wealth on to heirs
RETIREMENT PLANNING MAY 05, 2022
Crypto-rich puzzle over how to pass high-risk wealth on to heirs

As more crypto holders need help structuring their wealth, the staid world of estate planning is still playing catch up.

Fiduciary group offers best practices for using annuities in retirement plans
RETIREMENT PLANNING MAY 05, 2022
Fiduciary group offers best practices for using annuities in retirement plans

The key to a prudent process for selecting annuities for a retirement plan is to assess cost, performance and risk factors.