Fidelity: Auto Default Contribution Rate Hits All-Time High of 4.1%
The recordkeeper’s Q2 participant report also finds third-consecutive boost in average retirement account balances on strengthened markets.
Tag: individual retirement account (IRA)
Robinhood IRA Nears $1B, Planning Further Retirement Push
The stock trading platform’s IRA with 1% match nears milestone after less than one year while CEO announces 3% IRA...
Experts Forecast More Retirement Plan Options for Gig Workers
The majority of a Transamerica-sponsored panel sees better retirement plan offers and even matching for gig workers by 2026.
Vanguard Expands Retirement Clearinghouse Eligibility to IRA Account Holders
The asset manager, which has partnered with the clearinghouse on 401(k) rollovers since 2021, is turning to forgotten IRAs.
IRS Issues RMD Relief Related to SECURE Rules
The IRS notice provides additional time to rollover mistaken required minimum distributions as well as RMD relief for IRA beneficiaries.
Great Resignation Drives 20% Jump in Forgotten 401(k) Accounts
The left-behind 401(k) accounts are estimated to hold about $1.65 trillion in assets, as of May.
Marsh McLennan Agency Adds IRA Offering for ‘Main Street’
Retirement and wealth head discusses the firm’s IRALogix-backed offering to extend further into wealth management solutions for participants.
IRS Provides Interim Guidance for EPCRS Changes
SECURE 2.0 laid out changes to IRS correction programs, but the May guidance clarifies how they will operate until the...
Retirement Clearinghouse Issues Alert of IRA Data Breach
Firm alerts more than 10,000 people to watch out for identify theft after Social Security and IRA numbers may have...
Betterment Pays SEC $9M for Misstatements Regarding Tax Loss Harvesting
The digital advice and IRA provider agreed to pay the fines without admitting or denying wrongdoing.
Millennium Trust Will Add Auto-Portability to IRA Rollover This Year
The new functionality is intended to reduce retirement savings leakage and expand access to savings options.
Retirement Advisers Say Long-Term Performance Most Important for Evaluating TDFs
Four out of five advisers said investment performance over at least three years is key in picking TDFs for plan...
Gig Workers Uncertain if They Will Retire, Likely to Self-Fund if They Do
Many freelancers plan to work beyond 65, and 30% say they don’t plan to retire at all.
Fidelity: Gen Z Savers Pour Into IRAs
For all age groups, however, average 401(k) balances were down 23% in 2022 due to declines in both stocks and...
Expert: Advisers Should Pause on DOL Rollover Guidance Despite Court Reversal
In the meantime, legal experts discourage advisers from violating it in case it is re-instated.
Advisory M&A
Sequoia acquires Zeke Capital Advisors; iTrustCapital integrates with Fortress Trust; Hightower invests in Bickling Financial Services; and more.
Investment Service and Product Launches
California ABLE program selects Vestwell for disability savings; Embark launches automated investing platform; and more.
60/40 Portfolio Can Be Improved With Creative Use of Alternatives, Experts Say
After stock-and-bond “bloodbath” in 2022, retirement savers may want to rework the old 60/40 return model.
Bridging the Racial Retirement Gap: A Conversation With Spencer Williams
The CEO and president of the Retirement Clearinghouse talks about his decades-long project with Bob Johnson to implement 401(k) auto-portability.
Will RMD Age Increases Cause ‘Abandoned’ Property Problems?
SECURE 2.0 increased the RMD age to 73 and will increase it again to 75 in 2033. Some states’ laws...