401K

SeaWorld this week was sued by several participants in its $310 million 401(k) plan, allegedly for letting fees for investments and service providers run out of control. Part of the case involves adviser compensation. In the proposed class-action suit filed Monday in U.S. District Court for the Southern District of California, the law firms representing the plaintiffs leveled … [Read more...] about Plaintiffs make a splash in SeaWorld 401(k) lawsuit

LEXINGTON, Ky. (WKYT) - If you have accumulated any amount in your 401(k) retirement plan at work, there is always a decision that arises in what should you do with the money when you retire. One option is to keep the money in the retirement plan or roll it into an Individual Retirement Account to maintain your tax-sheltered status a little longer. Independent retirement … [Read more...] about What to know about the new federal rules involving 401(k) rollovers to IRAs

A retired manEmployees covered by company retirement plans are familiar with defined-contribution plans like 401(k), 403(b) or SEP-IRA accounts. A money purchase plan is another such employer-sponsored plan that can help you save for retirement. It is similar to these other accounts, except that the contributions are typically made by the company instead of the employee. In … [Read more...] about What Is a Money Purchase Plan?

Africa Studio / Shutterstock.comEditor's Note: This story originally appeared on SmartAsset.com.The number of 401(k) and IRA millionaires reached an all-time high in the first quarter of 2021, according to Fidelity Investments. Retirement account balances have been steadily recovering in the year since COVID-19 first emerged, even surpassing pre-pandemic levels. Today, more … [Read more...] about How to Become a 401(k) Millionaire

My friend Abby recently finished her graduate degree and just started a new job as a business analyst. After reviewing her company’s employee benefits package, she called to ask two specific questions: What is the difference between a traditional and Roth 401(k) plan? And which one is best for her?As 2021 graduates begin to enter the workforce, many others change jobs, and more … [Read more...] about The Right Retirement Plan: Do I Choose a Traditional or Roth 401(k)?

Q. Does 401(k) income count against your Medicare premium?— UnsureA. The calculation of Medicare premiums is important to understand.Let’s start with the basics.Medicare insurance is divided into three primary sections.Part A, hospital insurance, is free and covers hospital stays, care in a nursing facility and some home health care, said Claudia Mott, a certified financial … [Read more...] about Does 401(k) income count against your Medicare premium?

Recently,  the United States District Court for the Western District of Pennsylvania granted a Motion to Dismiss, dismissing ERISA breach of fiduciary duty claims based on excessive recordkeeping fee allegations. The district court addressed the level of detail plaintiffs must provide to move an ERISA breach of fiduciary duty recordkeeping fee allegation … [Read more...] about Third Circuit Dismisses ERISA Excessive Fee Complaint

(Photo: Shutterstock) Being a retirement plan fiduciary is an honorable undertaking. Just thinking about the fact that others have put their trust in you to shepherd their hard-won savings into investments likely inspires many sponsors and advisors to high levels of mindful care and conscientious decisionmaking. On the flip side, of course, the increasing frequency of 401(k) … [Read more...] about What is fiduciary insurance and why might you want it?

Being your own boss. Making your own schedule. Taking control of your career. Those perks and others—including not worrying about being downsized by your company—drive professionals into self-employment all the time. In fact, the gig economy keeps growing year after year.How big is the gig? Pretty enormous. The month before the 2020 pandemic exploded, CNBC reported that … [Read more...] about How to Plan for Retirement in a Gig Economy

Recently,  the United States District Court for the Western District of Pennsylvania granted a Motion to Dismiss, dismissing ERISA breach of fiduciary duty claims based on excessive recordkeeping fee allegations. The district court addressed the level of detail plaintiffs must provide to move an ERISA breach of fiduciary duty recordkeeping fee allegation from possible to … [Read more...] about United States District Court Dismisses 401(k) Plan Recordkeeper Fee Complaint | Jackson Lewis P.C.