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Education expenses and 72(t) plans
Individual retirement account owners under 59½ who take a distribution from their IRA are subject to a 10% penalty on the taxable amount of the distribution. But there are several exceptions to the penalty.
Solvency of Social Security, Medicare worries advisers
Just when market conditions appear to be stabilizing, financial advisers now have something else to keep them awake at night: Both Social Security and Medicare are on a pace to disappear even sooner than expected.
Many workers don’t move 401(k)s when terminated, study finds
A large number of people let the money in their 401(k) plans languish after they lose their jobs — or simply choose to cash out their retirement accounts once they're terminated — according to a new report released by The Charles Schwab Corp.
Retirement group to propose changes to 401(k) disclosure bill
An industry association that represents the interests of retirement plan service providers this week will suggest modifications to proposed legislation that would require the industry to break out 401(k) fees on investors' statements.
Let’s rebuild retirement’s three legs
For decades, the U.S. retirement system was described as a three-legged stool.
Obama seeks $1B to fund auto-IRA agency
President Obama wants as much as $1 billion to establish a federal organization to oversee his proposed automatic-IRA plan.
More workers move 401(k) savings to stable-fund investments
Stable-value funds are the safest investment option available to 401(k) plan participants, but recent problems at two funds illustrate why sponsors should exercise caution in selecting them, according to observers.
Bank customers urged to come clean on offshore accounts
Wealthy Americans who have offshore bank accounts may be sweating more than usual this summer.
Losing relied-upon benefits, government workers delay retirement
The slumping economy is causing even state and local government employees, who typically get traditional fully loaded pensions, to hold off on retirement, according to a survey released today.
401(k) employees pull back slightly on contributions
While most workers continued to contribute to their 401(k) plans in the first quarter, the average contribution was slightly less than the year-earlier period, according to Fidelity Investments.
Mercer hires two to bolster DC plan outsourcing
Mercer LLC of New York announced today that it has hired two market leaders for its defined contribution plan administration-outsourcing service.
Obama wants to fund agency that would support IRAs for all workers
President Obama has asked for $1 billion to create a new agency that will support the automatic individual retirement account proposal included in his 2010 budget.
Putnam chief pushes for automatic enrollment for 401(k) plans
All companies that offer 401(k) plans should be required to automatically enroll employees in the plans, the head of Putnam Investments told Investment Company Institute members today.
401(k) fee critics overstate problem, ICI chairman says
While supporting improved retirement plan fee disclosure, the head of the Investment Company Institute said yesterday that congressional criticism of 401(k) plan fees has been inflated by critics.
Putnam chief aims to spearhead revamp of 401(k) industry
Investment executives and retirement plan officials will band together over the next several months to propose some radical enhancements to the nation's 401(k) system, said Robert Reynolds, president and CEO of Boston-based Putnam Investments.
Activity of investment advice needs regulation
As Congress prepares to tighten financial regulation to correct weaknesses revealed by the mortgage collapse, the debate over who should regulate those who give in-vestment advice, including financial planners,
Agents oppose government-sponsored health care
As Congress starts to take up health care reform, a group representing health insurance agents is voicing its dissent over President Obama's call for universal health insurance.
Keeping it all in the family can be tricky business
Running a successful family financial advisory business is much tougher than the smiling portraits posted on many firms' websites would lead a client or prospect to believe.
It’s time to ‘fix’ the 401(k) plan
There is a crisis in defined contribution retirement plans. In addition to devastating market losses, employers are ceasing their matches.
Planners urge enforcer role for CFP Board
With regulation of the financial planning industry all but a certainty, a coalition of industry groups is cobbling together a proposal to make the Certified Financial Planner Board of Standards Inc. the rule setter and enforcer for the nation's hundreds of thousands of unregulated planners.
