J.D.
The owners of Vantage Benefits Administrators have been sentenced by a federal judge for their role in a $15 million embezzlement scheme—and it seems fair to say he “threw the book” at them.
Vantage Benefits Administrators co-owners Jeffery Richie, 55, and his wife Wendy Richie, 59, pled guilty to...
READ MORE
A plan sponsor, sued for a 401(k) account theft, is off the hook for now—but not the recordkeeper.
The suit was filed on behalf of Heide Bartnett, 59, a retired former employee of Abbott Laboratories, who had left her savings in the Abbott Corporate Benefits Stock Retirement Plan. Filed against...
READ MORE
Having climbed into positive territory for 2020 in June, the average 401(k) balance continued to gain ground in July.
The S&P 500 wound up 5.5% higher in July—the fourth monthly gain in a row, and its largest four-month percentage gain since December 1998.
As it turns out, the average 401(k...
READ MORE
We are not quite 60 days past the signing of the CARES Act, legislation that, depending on plan adoption decisions, significantly expanded participant access to their retirement accounts. Are you seeing an uptick in that activity?
Early information from recordkeepers suggests that withdrawal and...
READ MORE
So, how much should the plaintiffs’ attorneys who wrangled a $12 million settlement receive for their time, effort and trouble?
Well, if you’ve been keeping up with such things, you’ll do some quick math and arrive at a figure of $4 million since, after all, these class action suits[1]—...
READ MORE
You have to hand it to the Washington Post. At a time when millions of working Americans are finding a financial lifeline in their retirement savings, they managed to find in the questionable life choices of a half dozen individuals a condemnation of the nation’s private retirement system.
The...
READ MORE
Most Popular
ASPPA Benefits Councils
The 19 ABC chapters feature networking and educational opportunities, right in your own neighborhood! For more information. Click HERE
Advertisement