April 12, 2017
Attorneys Move to Send Schwab Self-Dealing Suit to Arbitration
“The court should compel individual arbitration of [the plaintiff's] claims and, on that basis, dismiss the lawsuit, or stay the litigation pending the outcome of individual arbitration,” the attorneys conclude.
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Boomers Abandoning TDFs at or Near Retirement
In aggregate, across target-date fund providers and funds, all vintage years between 2060 and 2020 experienced an increase in total AUM during 2016; however vintage year funds that had passed their target years experienced a decrease in total AUM, according to the March 2017 Target-Date Trends report from Mercer.
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Prudential Quantifies the Cost of Workers Unable to Retire
For each individual who cannot retire, the cost averages an extra $50,000 a year, representing the difference between the salary of an older worker and hiring a younger person, according to Prudential. The annual cost across a workforce is an additional 1.0% to 1.5% a year.
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Language Matters Even More When It Comes to Annuities
An executive with MetLife urges plan sponsors and advisers to avoid talking about annuities “as if they were an investment option … they aren’t really an investment.”
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MOST READ ARTICLES
1
DEALS AND PEOPLE
Retirement Industry People Moves June 19 to June 23
2
COMPLIANCE
Voya Wins Dismissal of Suit Over Advice Service Agreement
3
COMPLIANCE
Fiduciary Compliance Remains a Squishy Concept
4
COMPLIANCE
Putnam Wins Suit Over Proprietary Funds in 401k
SPONSORED MESSAGE FROM Ascensus
Saving for College and Healthcare: New Markets, New Opportunity
Click here for video.
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Boomers Expect to Rely Heavily on Social Security in Retirement
Thirty-eight percent of middle-income Baby Boomers—those with a household income between $30,000 and $100,000 and less than $1 million in investable assets—expect Social Security will be their primary source of income in retirement, up from 30% before the financial crisis of 2008, according to a study by the Bankers Life Center for a Secure Retirement.
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Boomers Carrying Student Loan Debt Into Retirement
For loans that are not repaid by retirees, Social Security payments can be garnished.
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Orion Launches Social Platform
The new application will provide advisers with access to industry experts and online training materials.
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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