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Fourth quarter volatility pushed average 401(k) account balances down from earlier record highs, but investors apparently didn’t panic, data from Fidelity Investment indicates.
The firm notes in its quarterly analysis of retirement savings trends that the average 401(k) balance experienced a 10%...
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Five years ago, employers were just starting to provide workers with financial benefits beyond their retirement plan, but now financial wellness appears to be firmly entrenched in the benefits space, according to a recent report.
Nearly two-thirds of employers say they are very likely to take...
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We have more access — and easier access — to information than at any time in human history. And a good fiduciary can identify which of it will most affect clients and their accounts, argues a recent blog entry.
In “A Fiduciary Must Separate the Wheat from the Hype,” Christopher Carosa argues that...
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The Pension Benefit Guaranty Corporation (PBGC) has updated its Staff Responses to Practitioner Questions webpage to include additional information about guaranteed benefits, reportable events and standard terminations. The page provides a useful look at the PBGC’s take on particular situations...
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The “January effect” looks to be in full force for the average 401(k) balance.
That effect is a seasonal increase in stock prices during the month of January, which has been attributed to a number of things, generally a rebound from tax-loss related stock sales in December.
And if December’s...
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It’s been said that Millennials, whose influence grows daily, generally don’t like the name their generation has been given. And while much has been written about them, Millennials do share undeniable characteristics — some of which have important implications for the retirement industry.
Speaking...
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House Ways & Means Committee Chairman Richie Neal (D-MA) announced Jan. 30 that the committee will hold a hearing on Feb. 6 on improving retirement security for America’s workers.
It is anticipated that the hearing will be the first of many focusing on retirement security issues, eventually...
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The political climate has changed and this necessitates some new approaches, American Retirement Association (ARA) CEO Brian Graff indicated in remarks at a Jan. 28 session at the 2019 30th Anniversary NTSA Summit held in Tampa, FL.
Graff attributed the results of the November 2018 elections not...
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A managed account provider and a recordkeeper platform have been sued for conspiring to direct participant savings to expensive, affiliated funds.
Plaintiff Kimberly Davis worked for Palace Entertainment in Greensboro, NC and Riverhead, NY, and participated in its 401(k) retirement plan that...
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The Pension Benefit Guaranty Corporation (PBGC) has announced that its mediation program is now permanent. In addition, it reports, it has expanded the program. The PBGC launched a pilot mediation program in October 2017.
The program originally offered mediation with certain termination liability...
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