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The purpose of any such updates would be to increase the effectiveness of tax-favored retirement programs by allowing retirees to retain sufficient retirement savings in these programs for their later years, the IRS says.
The limit on deferrals to 401(k), 403(b) and most 457 plans has been increased by $500.
Linking health care and wealth management; maximizing practice efficiency and cross-selling opportunities; addressing individuals' insurance and financial wellness needs—Hub’s new retirement plan specialist advisers hope to do all of this and more.
The lawsuit alleges that GoalMaker served Prudential’s interests at the expense of participants’ by funneling retirement savings into proprietary investment products and into investments that paid revenue sharing to Prudential.
Plaintiffs challenge the use of proprietary products in Prudential’s defined contribution retirement plans, an arrangement they say impermissibly benefitted the company at the expense of plan performance.
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