Practice

As of January 1, the Social Security Administration began phasing in an increase in the age at which retirees can receive full benefits, from 65 to 67. Congress passed a law in 1983 mandating these changes begin taking effect in January, 2000.

Investors in 401(k) plans have more investment options and receive more education about investing for their retirements than they did three years ago, according to the 1999 "Trends and Experience in 401(k) Plans" survey by Hewitt Associates, a management consulting company in Lincolnshire, Ill.

The high cost of retaining key mutual fund executives and concerns about lawsuits have produced what may become a common ingredient in mutual fund company acquisitions -

In calculating fund expense ratios, funds may only reduce total expenses by contractual fee waivers or reimbursements, the SEC is reminding fund advisers in its annual, "Dear CFO" letter.

The SEC has made it easier for funds to redeem the holdings of affiliates and large shareholders in securities rather than cash, a move industry accountants and lawyers say should reduce fund costs and ease operational headaches.

A growing number of fund companies are establishing alliances with third party 401(k) advisory firms in an effort to meet increasing demands for 401(k) advice.

Warning: A large diet of initial public offerings may be hazardous to your investment health.

The SEC is prepared to look back before Dec. 8 to sue mutual fund companies if the agency finds apparent violations of the pricing policies outlined in a letter the agency issued last month.

Hartford Life Insurance Company of Simsbury, Conn., is looking to the person who helped launch its proprietary mutual fund family to increase sales of the firm's funds and annuities to 401(k) plans.

The SEC is considering a rule change that could save mutual funds millions of dollars each year by creating a new, abbreviated mutual fund document that would take the place of lengthy fund prospectuses under some circumstances.