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.
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.
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.
The New York-based ratings agency cut the carrier’s grade following Phoenix’s announcement of a first-quarter operating loss of $117.8 million and a $143.9 million — or 17% decline — in statutory surplus and asset valuation reserves,
Longtime insurance and annuity expert Jerome “Jerry” S. Golden, president of the income management strategies division and a corporate vice president of MassMutual’s retirement income division, is retiring.
Investment losses and subprime mortgage impairments drove Genworth Financial Inc. to a first-quarter loss, and the insurer says it plans to sell up to 49 percent of its Canadian mortgage business to raise cash.
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.
Lincoln National Corp. ended the first quarter in the red, citing a $600 million charge on the impairment of goodwill in its annuity business.
Marsh & McLennan Cos. said today it returned to profitability in the first quarter, bouncing back from a loss a year ago when it absorbed a big write-down. But the latest results fell short of Wall Street expectations.
President Obama’s <a href= http://ciedit.cr.atl.publicus.com/apps/pbcs.dll/article?AID=/20090504/FREE/905049995&NoCache=1>proposal</a> to rein in tax deferrals for U.S. corporations doing business overseas will have a negative impact on the ability of financial services firms to compete worldwide, according to the Financial Services Roundtable.
Car dealers are heavily promoting new car sales. Your client is thinking this might be the right time to buy and wants to know whether the tax incentives for buying a new car are worth it.
While charitable giving using the Internet continues to rise, the pace is slowing down due to the recession, according to a survey published yesterday by The Chronicle of Philanthropy.
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,
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.
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.
Some dividends aren't dividends at all. Sometimes they are a distribution known as a return of capital, which are actually returns <i>of </i>an investment instead of returns <i>on </i>an investment.
The two largest organizations of financial planners are looking at ways to give members discounts on several kinds of insurance.
