Updated Thursday, April 24, 2014 as of 6:04 AM ET
TIAA-CREF to Buy Nuveen Investments in $6.25 Billion Deal
(Bloomberg) -- TIAA-CREF, the manager of retirement accounts for teachers, agreed to buy Nuveen Investments from Madison Dearborn Partners LLC for $6.25 billion, including outstanding debt.
The transaction adds $221 billion in assets, bringing TIAA- CREF’s total to about $800 billion, according to a statement today from the New York-based company. Chicago-based Madison Dearborn purchased Nuveen in 2007, then the largest buyout of a U.S. asset manager, for $5.75 billion.   more »
More in IRAs/401K
After a Tax Court decision, a major change in IRS guidance will affect clients with multiple retirement accounts. Here's what advisors need to know. more »
Younger investors have eight times more money in Roth IRAs than traditional IRAs, according to one recent report. more »
JPMorgan Chase & Co., the largest U.S. lender, agreed to sell its large-market 401(k) recordkeeping business to a division of Canadian life insurer Great-West Lifeco Inc. more »
A sharply increasing number of plan sponsors want financial advisor guidance -- but many of the RIAs on Fidelity's platform are just dabbling in the area, the custodian says. more »
Expected in August, the Labor Department's new draft of a fiduciary proposal for retirement-plan advisors involves taking a more "clear, direct and nuanced" approach to the education vs. advising question, says Assistant Secretary of Labor Phyllis Borzi. more »
After variable annuity sales plunged in 2012, expectations are high for the coming years for new players and higher sales. more »
Employers are squeezing their workers' retirement savings, holding back on both the amount and the timing of 401(k) matching funds and dragging out vesting schedules. Taken together, these measures are making it more difficult to save for old age. more »
The U.S. Supreme Court decision to hear arguments over Fifth Third Bancorp v. Duddenhoeffer – a case that questions whether it's prudent for companies to offer employee stock ownership within 401(k) investment schemes – will be front and center for retirement plan sponsors this spring. more »
President Obama's announcement of a new retirement plan for low- to middle-income Americans drew reactions ranging from hopeful praise to scorn from advisors who say many big questions remain to be answered. more »
President Obama's proposal for encouraging low-income Americans to set money aside in accounts with tax advantages is a limited step that may help bolster retirement savings. more »
President Obama offered more Americans the chance to save for retirement through payroll deductions with a plan for new government-sponsored savings accounts. more »
Many considered Dec. 31, 2013, the final date for year-end tax planning, but there are numerous planning actions that you can take in 2014 retroactive to 2013. Here's a quick and easy guide to help with planning. more »
Congress dangled an incentive for high-income Americans to convert their tax-deferred individual retirement accounts into post-tax plans. Their response was overwhelming. more »
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