IBM has recently entered into a $6 billion pension risk transfer agreement with Prudential, as the retirement industry evolves from pension plans to 401(k) plans and PRTs firm allow firms to offoad the burdensome administration of allocating pension plans.
A federal judge extended a temporary restraining order on Pres. Biden's newest student debt forgiveness plan that could potentially affect 25 million borrowers - and have impact on the upcoming presidential election.
Citing data security concerns, Fidelity has informed advisors that it intends to block their access to customers' employer-sponsored 401(k) accounts via credential sharing.
Two in 10 Americans believe the election will even affect when they retire—a concern most prevalent among Gen Z, according to a new Wealth Enhancement study.
More plan sponsors are prioritizing retirement income and considering managed accounts as an opt-in option in 401(k)s, according to T. Rowe Price's 4th annual consultant study.
In the last year, Lockheed Martin, AT&T, Alcoa and GE have been sued by employees in class action lawsuits over the PRT deals made with Athene, alleging the firm "breached their fiduciary duty," says law firm Schlichter Bogard.
Plan sponsors and employers are searching for advisors and consultants who are highly knowledgeable about SECURE 2.0 provisions, according to a new UBS survey.
While the official IRS announcement will come next month, the contribution limit for retirement accounts will likely increase from $23,000 to $23,500 in 2025, according to new Mercer and Milliman reports.
The depletion of funds will directly impact retirement strategies, which is why employers need to focus on enhancing employee 401(k) plan offerings, promoting higher contribution rates, and providing financial literacy programs, says a new Atticus survey.
The DOJ settled a whistleblower case with Walgreens, which claimed "issues with its billing systems" led to prescriptions billed to Medicare and Medicaid that were never dispensed at the pharmacy.