SEC Charges 12 Financial Firms for Recordkeeping Failures
The firms will pay a total of $88.2 million in civil penalties.
Tag: Recordkeeping
Pontera Partners With Recordkeeper 401GO
The partnership with the recordkeeper comes on the heels of Fidelity warning it would block Pontera’s third-party 401(k) credentialing business...
TIAA Pens Multi-Year Deal With Accenture to Transform Its Retirement Recordkeeping
The deal will tee up about 1,500 TIAA employees in the U.S. and India to move to Accenture, while TIAA...
Recordkeepers Ascensus, July Make Divisional Hires
Ascensus hires new nonqualified plan head from MassMutual; July hires national sales lead and promotes former sales director to lead...
Human Interest Aims for Public Listing
The BlackRock-backed 401(k) provider says its latest $267 million financing furthers a groundwork to go public.
Empower Finalizes Prudential Retirement Business Integration
Firm cites enhanced technology and scale with final integration of 2022 recordkeeping platform acquisition.
Q3 Reports Show Growth for Retirement Sector Providers
Fidelity, Principal, T. Rowe Price and other firms with retirement sector business showed improved results compared with last year.
10th Circuit’s ‘Meaningful Benchmark’ Ruling Will Not Stymie Lawsuits, Experts Says
Five circuit courts have now heightened the standard for 401(k) participant lawsuits, but ERISA attorneys do not expect lawsuits challenging...
Voya Adds New Roles, Expanding Wealth Solutions Team
Shelly Nolfi and Holly Monday will join in the newly created positions of assistant vice president for client management and...
ERISA Complaint Against AT&T Returned for Review by Appeals Court
A complaint alleging AT&T’s benefits committee failed to properly report brokerage commission paid to Fidelity has been remanded back to...
J.P. Morgan Fined $4M for Recordkeeping and Outsourcing Failures
The SEC penalty addressed recordkeeping issues including the early deletion of 47 million emails.
John Hancock Names Former Personal Finance Exec to Lead Retirement Business
Wayne Park is leaving American Century Investments to lead John Hancock's retirement plan and recordkeeper business.
Principal Continues Focus on Asset Management, ‘Jet Fuel’ of the Business
CEO Dan Houston discusses recent moves furthering the firm's asset management focus.
Vestwell Launches 2 Products for 401(k) TPAs
The products seek to help third-party administrators scale their small and midsize plans.
Publisher’s Note
Being Cyber Aware
As cybersecurity threats proliferate, advisers can emphasize the need for vigilance.
Insurer Calls Majority of Excessive Recordkeeping Fee Claims ‘Bogus’
Daniel Aronowitz, of Euclid Fiduciary, says a whitepaper published by his firm is meant to give perspective on which cases...
Taylor Corp. Facing ERISA Recordkeeping Fee Suit
The lawsuit represents yet another case of a sub-$1 billion retirement plan finding itself the subject of excessive recordkeeping fee...
The Standard Announces New Recordkeeping Solution Aimed at Small Plans
The platform is said to accommodate plan growth without time-consuming conversions.
Vanguard Partners With Retirement Clearinghouse for Auto-Portability Solution
The service is expected to launch for Vanguard's 401(k) plan clients in mid-2022.
Suit Over Recordkeeping Fees for PNC Financial’s Retirement Plan Dismissed
A court found that the plaintiffs did not state a plausible claim for breach of fiduciary duties. They have already...