Greg was a reporter for InvestmentNews from 2015 to 2019, covering defined-contribution plans, retirement planning, insurance, taxes and estate planning, before then moving to CNBC as a Personal Finance Reporter. He tweets at: @GregIacurci
The law uses the tax rates applying to trusts and estates, rather than parents' income, to determine the tax on children's investment income.
The firm tried launching two different target-date series within the past decade, both of which closed after failing to gain much traction.
It's the second university to get a complete dismissal, but lawyers say it's too early to tell if this is a harbinger for pending cases.
CEO Daniel Bryant: 'It's a logical next step for us. This has always been our intention, regardless of what IFP is doing.'
Observers say it's difficult to determine if this is a harbinger of the outcome in the roughly 20 outstanding lawsuits.
Transactions pose inherent risks to policyholders, such as the buyer having a weak credit rating or increasing contract fees.
However, it likely won't bar employees from filing 401(k) lawsuits against their employers.
Variable annuity sales were down again, however.
Shifting business structure, changing filing status and spinning off equipment are examples of ways business owners can take advantage of the deduction.
Program has amassed nearly $3 million in just a few months.
