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TIAA's 'high-fee products push' lawsuit: Best practices for all retirement plan sponsors

By Lynn Cavanaugh

Companies need to fully understand what the plan fees are so they can be "fully transparent" with their workers, said law firm Schlichter Bogard, which is representing plaintiffs suing TIAA for steering them into high-fee investments.

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IRS issues SECURE 2.0 guidance for 401(k) student loan match

Best Practices

Retirement reset: Pre-retirees need help reevaluating lifetime income offerings

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August 19, 2024

Biden asks Supreme Court to reinstate SAVE student loan relief plan, in emergency appeal

After a federal appeals court blocked the Saving on a Valuable Education forgiveness plan in early August, President Biden appealed to the high court last week to reinstate the program, which would lower payments for borrowers.

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August 16, 2024

Nordstrom hit with ERISA suit over excessive 401(k) fees, misuse of forfeited funds

The firm mismanages its $3.4 billion 401(k) plan by overpaying for administrative services and using money forfeited by former employees, the class action lawsuit alleges.

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August 16, 2024

Ameriprise & other investment firms fined $393M by SEC for misuse of texting apps

Ameriprise, Edward Jones and other big names in wealth management have agreed to pay hefty fines, after a years-long sweep of 26 firms for "widespread and longstanding failures" to preserve electronic communications.

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August 15, 2024

Empower employees with HSAs and retirement benefits

With increasing numbers of employees looking to their employers to help support them on their financial journey, it's essential for benefits brokers to leverage this opportunity to enhance the value they provide.

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August 15, 2024

2024 retiree health care cost estimate is $165,000: Fidelity

A 65-year-old retiring this year can expect to spend an average of $165,000 in out-of-pocket health care expenses throughout retirement, according to Fidelity's annual Retiree Health Care Cost Estimate.

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August 14, 2024

401(k) emergency distributions for workers recovering from tropical storm Debby: IRS

With extensive damage to homes and property, the IRS is allowing 401(k) plan participants in South Carolina, North Carolina, Florida and Georgia to take out special disaster distributions from their retirement accounts.

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August 14, 2024

Bank of America is latest firm sued by 401(k) participants over misuse of 'forfeited' funds

BofA employees filed a lawsuit last week, alleging that the company mismanaged its 401(k) plan by using assets forfeited by former workers for its own financial benefit, in yet another fiduciary forfeiture lawsuit.

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Defined Contribution

Top Defined Contribution Stories

TIAA's 'high-fee products push' lawsuit: Best practices for all retirement plan sponsors

IRS issues SECURE 2.0 guidance for 401(k) student loan match

Retirement reset: Pre-retirees need help reevaluating lifetime income offerings

Recommended Just For You

Defined Contribution Stories

Biden asks Supreme Court to reinstate SAVE student loan relief plan, in emergency appeal

Nordstrom hit with ERISA suit over excessive 401(k) fees, misuse of forfeited funds

Ameriprise & other investment firms fined $393M by SEC for misuse of texting apps

Empower employees with HSAs and retirement benefits

2024 retiree health care cost estimate is $165,000: Fidelity

401(k) emergency distributions for workers recovering from tropical storm Debby: IRS

Bank of America is latest firm sued by 401(k) participants over misuse of 'forfeited' funds