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Products May 11, 2020
Tracking Providers’ Responses to COVID-19
Retirement plan recordkeepers have announced fee cuts, service expansions and more.
Reported by John Manganaro
From waiving fees to offering additional financial help, retirement plan recordkeepers, third-party administrators (TPAs) and advisers, as well as financial wellness providers are stepping up to assist plan sponsors and employees in a number of ways during the novel coronavirus pandemic. Below is a listing of the latest announcements.
Ascensus Releases Online COVID-19 Resources
The Standard Offers Giving Back Opportunity
Lincoln Financial Group Expands Wellness Initiative
GoalPath Partners With Questis on Financial Wellness
Clients Can Get a Free Trial of SmartDollar Financial Wellness
PCS Retirement and Aspire Offer Fee Credits for Loans and Hardship Withdrawals
Mutual of Omaha Eliminates Distribution Fees
BrightPlan Offers Financial Wellness Platform at No Cost During Pandemic
Two West Advisors Launches Virtual Consultation Service
Pentegra Waives Coronavirus Amendment Fees
MassMutual Offers CARES Act Provisions to Retirement Plan Clients
OneAmerica Forgives Hardship Withdrawal Fees
Securian Removes COVID-19 and Hardship Withdrawal Fees
Nationwide Joins List of Providers Offering CARES Act-Related Help to Participants
Transamerica Takes Steps to Help Plan Sponsors, Participants During Coronavirus
John Hancock Announces New COVID-19 Fee Policies
Principal the Latest Provider to Waive Retirement Plan Transaction Fees
Empower Waives Fees for Retirement Plan Loans and Hardship Withdrawals
Voya to Credit Transaction Fees Related to CARES Act
Newport Drops 3(16) Service Fees for Clients