Daniel Wiener has long been a fan, if a highly critical one, of Vanguard funds. That led the former personal finance writer for U.S. News & World Report to start a newsletter in 1991 that became the independent authority on the fund company’s investments, The Independent Adviser for Vanguard Investors....
SoFi is copying Robinhood’s play for retirement assets by offering owners of individual retirement accounts a 1% contribution match to win their business. The financial services company announced that perk Thursday, noting that the match applies to all new IRA contributions to SoFi Invest from outside accounts and those made...
There has been a flood of settlements this year in 401(k) plans lawsuits, netting plaintiffs and the law firms that built the cases millions of dollars. Several of those cases involved financial services firms, including MetLife, which recently indicated in court records that it has reached a deal to settle...
The Social Security cost-of-living adjustment will be 3.2% in 2024, down from the massive boost of 8.75% implemented this year. The increase, which the Social Security Administration announced Thursday morning, is higher than the average of 2.6% seen over the past 20 years. But the decline in the COLA from...
The United Auto Workers want something that most Americans don’t have: traditional pension plans. It’s one of the union’s core demands that could help end the strikes at Ford, General Motors and Stellantis. But at a time when companies are trying to shed their financial liabilities for workers’ retirement security,...
General Electric has settled a long-running lawsuit over the funds in its 401(k) plan for $61 million, one of the biggest settlements in ERISA litigation history. Court records filed last Friday disclosed the amount, which the company had agreed to in August but which previously had not been released publicly....
There’s a difference in the investing world between thinking you know something and actually knowing it, with the former linked to paying higher investment fees, according to a study published Friday by the Finra Foundation. The research, based on data from the group’s 2018 and 2021 National Financial Capability studies,...
A handful of asset managers have been pulling the plug on ESG-themed funds they launched several years ago — a result they all but certainly knew was coming, as not every attempt to get a slice of that booming market was going to work. That hardly means that sustainable investing...
To the extent that traditional pension plans aren’t all but a thing of the past in the private sector, they soon may be. Among companies that still have active defined-benefit plans on their books, 89% are planning to offload their pensions to insurance companies using a strategy called pension risk...
A bill recently approved by the House Ways and Means Committee would nearly double the annual limits on contributions to health savings accounts — a measure that opponents said will only provide a bigger tax perk for the wealthy. The HSA Modernization Act the committee passed last Thursday would bump...