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Principal Financial Group Inc is in advanced talks to acquire Wells Fargo & Co's retirement plan services business, in a deal that could exceed $1 billion, people familiar with the matter said on ...
Heck, in some instances, putting extra savings in a non-registered brokerage may make more sense, given the financial flexibility over stashing cash away in a 401k for the long haul.
For some workers, 401(k) contributions might get maxed out every year. For others, there’s a chance you haven’t contributed to your 401(k) in a few years — if at all.
In 2019, Principal purchased Wells Fargo's institutional retirement and trust business (including 401k, pension, executive deferred compensation, employee stock ownership plans and asset advice business) for $1.2 billion. The deal was financed with cash and senior debt financing. [8]
A Pension administration firm can also be a division of a larger corporation engaged in the retirement plan business, such as with Principal Financial Group. The term "bundled" is sometimes used to refer to such an arrangement; [ 12 ] [ 13 ] [ 14 ] the same company maintains the plan, manages investments, and provides custody services.
The 401(k) has been around for 46 years, and in that time, it has become the dominant workplace retirement plan employees of all ages use to save for their futures. Each generation has made its ...
Empower was created in 1891, when parent company Great-West Lifeco was founded as an insurance provider on the Canadian prairie. [1] After serving more than a century of expansion and a profound evolution of service offerings, the modern iteration of Empower was launched in 2014, when the retirement businesses of Great-West Life combined the record-keeping services of Great-West Financial ...
In addition, "It is common to assume that a 401(k) loan is effectively cost-free since the interest is paid back into the participant’s own 401(k) account," says James B. Twining, CFP®, CEO and ...
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