An annual levy on the unrealized capital gains of ultra-wealthy people 'is a slippery slope' that could draw in millionaires and more, one adviser said.
As of August, 529 programs represented about $437 billion in assets, according to the investment research firm. The rankings include 62 total plans, accounting for about 97% of the industry by assets.
The Labor Department is giving the financial industry the additional breathing room it had sought to prepare for the new regulation.
About 3 million people retired earlier than they likely had planned as a result of the Covid environment, according to a report by a senior economist at the Federal Reserve Bank of St. Louis.
Don’t let clients sabotage their retirement plans because of fears about the program’s finances. Advisers can help clients put trust fund solvency woes into perspective.
Private-sector employers that don't offer a retirement plan are now required to enroll workers in the state's program.
Carson Group is the latest to sign up for the three-year-old service that lets advisers allocate assets in held-away accounts like 401(k)s. It is compliance-friendly and secure, the firm says.
But an executive at Schwab says increasing the top capital gains rate and lowering the estate tax exemption could make it into a compromise measure.
The larger providers produced by consolidation will cater to larger RPA groups like aggregators and major broker-dealers at the expense of smaller, independent RPAs.
The product, which will be offered in defined-contribution plans, is engineered to deliver 6% income at retirement.
The purchase of Bloomfield Hills Financial brings SageView 50 employees and six locations.
The case has big implications for similar state programs that require small businesses with as few as five employees to provide retirement plans, unless they register for the state-sponsored option.
The National Institute on Retirement Security found the middle class can longer afford retirement, according to a new report.
Fidelity is increasing its limit for student loan contributions for its employees, and MassMutual is letting people apply vacation time to payments.
TIAA settled claims in July from the SEC and New York State. Deloitte was recently sued over its plan, and Aon prevailed in a lawsuit.
Claims that crypto is 'untraceable' and the 'perfect tax haven' have been exploded. Those who bought into this mythology have to decide what to do.
Democratic bills in Congress would codify the Biden administration's proposal, but Republican support is lacking.
Participation in 403(b) plans went up during the pandemic, to over 77% of eligible employees in 2020, compared with less than 77% in 2019 and 72% in 2018, according to PSCA.
The IBD is offering a multiple-employer aggregate program that affiliates can use with small businesses and start-up plans.
Morningstar and Plan Administrators Inc. are planning to launch the pooled employer plan early next year, pending a final rule on environmental, social and governance factors from the Department of Labor.
