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Great Gray Presses Senators to Allow 403(b) Plans to Use CITs
The CIT trust company and two law firms argue against consumer groups seeking to halt a bill that would let 403(b) plans invest in CITs.
SEC Charges Former WAMCO co-CIO With Fraud
The SEC alleges Ken Leech engaged in a multi-year scheme to favor some clients over others through a practice known as ‘cherry-picking,’ including in client savings and pension...
Trump’s Labor Secretary Pick Has More Health Than Retirement History
Oregon representative Lori Chavez-DeRemer also comes with pro-labor record that may give pause to Republican Senators.
Cerrado Group Names Theresa Conti Executive Director
Conti has rejoined the organization for third-party administrators following the retirement of Ann Slotwinski.
Advisory M&A News – 11/25/24
Jared Copinga joins Prime Capital Financial; MAG Wealth Management acquires Ovation Wealth Advisors; Summit Financial secures $420M with 3 minority stakes.
DOL Releases Informational Copies of 2024 Form 5500s
The instruction updates include how to report on pension-linked emergency savings accounts.
Trump Picks Union Supporter for Secretary of Labor
President-elect Donald Trump announced his intent to nominate Rep. Lori Chavez-DeRemer, an Oregon Republican, to head the Department of Labor.
Nevada Joins NAIC Best Interest Annuity Rule, Making 48 States
Insurance industry groups are championing the move, because the state insurance regulations are one of the arguments against bringing retail annuity sales under ERISA.
SEC’s $8.2B in Financial Remedies Highest in History
Outgoing SEC Chair Gary Gensler oversaw the highest fines figures for the regulator in 2024, though total enforcement actions were down 26%.
Dalbar Releases Top 10 Plan Participant Websites
The financial services market research firm ranked TIAA, Fidelity and Principal highest among DC portals.
Mercer: Trump, New Congress Will Likely Continue Bipartisan Work to Expand 401(k) Coverage
Mercer’s policy lead says bipartisan work should continue to expand employer-sponsored retirement plan coverage, but tax treatment of such plans may get Republican scrutiny.
TPA Strongpoint Partners Acquires Pension Consultancy Karel-Gordon & Associates
Illinois-based Karel-Gordon works with financial advisers to create qualified retirement plans.
Retirement Industry People Moves – 11/22/24
Hartford Funds names Mackay as head of distribution; Mercer appoints Penner as U.S., Canada career leader; The Standard hires Tucci as national accounts sales manager; and more.
Product & Service Launches – 11/21/24
AllianceBernstein launches direct indexing investment options; AssetMarket adds TIFIN AI capabilities for advisers; Oppenheimer partners with Pontera for client 401(k) management; and more.
SEC Chair Gensler Announces January 20 Departure
Biden appointee Gensler will step down after a ‘robust rulemaking agenda’ as Republican leadership takes over the White House.
11th Annual Retirement Survey: Changing Viewpoints
As retirement plans transition from supplemental savings vehicles to the primary income source for many retirees, plan participants’ perspectives on retirement have shifted significantly. While concerns about risks...
Sponsored by American Century Investments
On Demand Rhode Island To Start Auto-IRA Program in 2025
RISavers administered by Vestwell is expected to begin a pilot in the spring of 2025 in partnership with Connecticut's state program.
Robinhood to Acquire TradePMR, Expanding Into RIA Wealth Management
The firm known for stock trading will connect users to financial advisers, expanding further into financial services after entering retirement savings about two years ago.
HSA Growth Continues, With Plan Sponsors Calling for More Education
The latest PSCA survey revealed rising health savings account usage, with employers advocating for more education to further participant uptake.