Record Number of Participants Raised Deferral Rate in 2023, Vanguard Reports
On the other side of the equation, plan loans were up 12% year-over-year, and hardship withdrawals increased modestly.
News
Advisory M&A News – 3/11/24
Bluespring Wealth announces merger of Retirement Wealth Specialists and Security Financial Management; Moneta acquires Juniper Wealth Advisors; Integrated Partners adds...
Final Fiduciary Rule Goes to OIRA for Review
The controversial rule will likely be published later this spring, with changes anticipated.
Modern Wealth Adds $1.2B Retirement Plan Advisory
The retirement head from acquisition Beltz Ianni & Associates notes a desire to grow the firm with Modern Wealth’s additional...
House Passes Expanding Access to Capital Act
Act includes amendments including CIT-expansion to 403(b)s and updating electronic disclosures.
The Standard Adds Personalized Managed Account Solution
The offering comes via partnership with Stadion Money Management and includes the option of an adviser-managed account setup.
Retirement Industry People Moves – 3/8/24
Alerus adds retirement sales consultant; Voya hires sales director; PSC retirement gets new CEO with PE deal; and more.
Biden State of the Union: Cut Junk Fees, Not Social Security
President Joe Biden highlighted his administration’s regulations that limit various fees and said the Social Security eligibility age should not...
Gensler Defends Predictive Analytics to Skeptical Audience
SEC Chairman Gary Gensler addressed the investment community’s concerns anxiety about regulation of predictive data analytics, including artificial intelligence, at...
Prudential, RGA Assume Verizon Pension Obligations of $5.9B
The telecom giant announced the pension risk transfer through its purchase of single-premium group annuity contracts covering 56,000 retirees.
House Approves Measure to Allow CIT Use in 403(b) Plans
The amendment is a first step in meeting industry calls to extend the lower-cost investment vehicle beyond 401(k) plans.
Why Advisers Should Think of Social Security as a Fixed Asset Class
A retirement plan adviser is pushing the industry to consider Social Security’s place as a fixed asset for U.S. workers—and...
New Data Show Women in Same-Sex Marriages Live Longer, Have Greater Retirement Planning Needs
J.P. Morgan’s 2024 Guide to Retirement reveals how gender, sexual orientation and relationship status correlate with longevity.
Broker/Dealers Will Be Required by SEC Rule to Disclose More Information on Execution Quality
Rule amendments finalized this week will require broker/dealers to share more information on the quality of stock order executions and...
SEC Unlikely to Abandon Predictive Analytics Proposal, Says Outgoing Division Director
William Birdthistle, the Securities and Exchange Commission’s current director of investment management, told an IAA conference the SEC will continue...
Product & Service Launches – 3/7/24
Orion, DPL partner on annuities marketplace for advisers; Morgan Stanley launches private markets transaction desk; Just Futures announces 'values-driven' 401(k)...
$20B Club Plans’ Funded Statuses Declined Slightly in 2023
The drop among the traditional group of 21 companies comes after two years of gains, according to Russell Investments.
SEC Approves Rule Requiring Public Companies to Disclose Climate Risk, Emissions
Public companies will have to disclose their climate risks and scope 1 and 2 emissions.
Product Partnerships – 3/6/24
Pontera and AdvisorEngine integration to streamline 401(k) management; Income Lab and PreciseFP announce new integration; Cetera and Wealth Access launch...
Morgan Stanley Heads to Market With New Participant Education Program
The firm’s Graystone Consulting group and institutional retirement advisers are pitching plan sponsors on a revamped financial education program with...