Gen Y Lagging Older Workers in Retirement Savings
Giant payroll processor ADP warns that Gen Y investors may be missing out on the benefits of compounding by putting off saving.
New Hire Roundup: Charlson to Head Morningstar Alternative Funds Research
Meanwhile, the American Benefits Council names new board members and officers, and CFPB adds experts to senior posts.
UBS, Raymond James Grab $2M Teams From Rivals
Meanwhile, Sapient recruits a rep from RBC in Oregon, a new RIA opens its doors in Minnesota, and an ex-Ameriprise group joins LPL.
Safe Harbor 401(k) Deadline Fast Approaching
The Safe Harbor enables small-business owners and any highly compensated employees to make the maximum contributions either tax-deferred or after tax regardless of income.
U.S. Economy Grew at Sluggish 1.7% Pace in Q2
The U.S. economy grew from April through June at an annual rate of 1.7% — a sluggish pace but stronger than in the previous quarter. Government cutbacks have weighed heavily on the economy the past 12 months.
JPMorgan, ADP to Wind Up 180 Abandoned DC Plans
DOL announced that it had approved a process for JPMorgan Chase and ADP to terminate and wind up about 180 DC pension plans abandoned due to corporate crises or neglect.
Top Portfolio Products: Putnam Rolls Out DC Website
Underwriters exercise option in WisdomTree secondary offering.
Lehman Redux: Is It Time to Panic Again? Gross, Others Think So
Is it time to allocate a significant portion of your client’s portfolio to shotgun shells and canned beans? While it might be a tad overly dramatic, signs from PIMCO Chairman Bill Gross and others point to yes.
PIMCO’s El-Erian: It’s a Good Unemployment Number
The U.S. Bureau of Labor Statistics reported Friday that employment in the private sector rose by 227,000 in February, and the unemployment rate held steady at 8.3%.
On Jobs, Russell Chief Economist Most Optimistic of Pessimistic Bunch
Payroll processor ADP released its ADP National Employment Report on Wednesday, which found the private sector added 216,000 jobs during the month of February.