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401(k) loan balances remain stagnant for fifth straight year
trueThe percentage of 401(k) participants with loan balances has remained steady in recent years, staying at 21% in 2013, the same level as in each year since 2009, according to a report issued Thursday by the Investment Company Institute and the Employee Benefit Research Institute.
Kohler Co. adds Vanguard, American Beacon options to 401(k) plan
trueKohler Co., Kohler, Wis., is adding three passive investment options managed by Vanguard Group and an active domestic large-cap value equity collective trust managed by American Beacon Advisors to the investment options lineup of its 401(k) plan.
Lockheed reaches agreement to settle 401(k) fee case
trueA class-action lawsuit brought by employees of Lockheed Martin Corp. alleging excessive 401(k) plan fees is in the process of being settled.
401(k) plan costs decrease as indexing becomes more popular — report
trueAverage asset-weighted total plan costs for 401(k) plans dropped to 39 basis points in 2012 from 49 basis points in 2009, said a report released Monday from the Investment Company Institute, and BrightScope, a company that evaluates 401(k) plans.
RadioShack to end 401(k) retirement matching to cut costs
trueRadioShack Corp., the struggling electronics retailer, will stop matching employees’ retirement fund contributions.
Stillwater Mining taps Prudential as 401(k) record keeper
trueStillwater Mining Co. hired Prudential Retirement as record keeper of its 401(k) plans.
JM Family Enterprises' DC plan is big on alternatives
trueSeeking to reduce risk and volatility in the company's defined contribution plans, officials at JM Family Enterprises Inc. have been adding alternative investments ranging from commodities and hedge funds of funds to global tactical asset allocation and direct real estate.
Everyone is focusing on the wrong goal in retirement planning
trueRobert C. Merton, 1997 Nobel laureate, wrote in the July-August issue of Harvard Business Review: “The seeds of an investment crisis have been sown. The only way to avoid a catastrophe is for plan participants, professionals and regulators to shift the mindset and metrics from asset value to ...
Supreme Court declines stock-drop case
trueThe Supreme Court on Monday declined to hear an appeal by participants in a class-action lawsuit against Cleveland-based KeyCorp and fiduciaries of the firm’s $1.5 billion 401(k) plan, alleging company stock was an imprudent investment.
Oregon utility fires up record-keeper search for 2 DC plans
trueCentral Lincoln People’s Utility District is searching for a record keeper for its $13 million 457 plan and $1 million 401(k) plan.
Supreme Court won't review Tussey vs. ABB fiduciary breach case
trueThe U.S. Supreme Court on Monday declined a petition that it review Tussey et al. vs. ABB Inc. et al., a fiduciary breach case that has been closely watched by the definehttp://edit.pionline.com/apps/pbcsedit.dll/redd contribution plan community.
P&I spotlights 5 who went extra mile for participants
true2014's five Innovator Award winners all sought to engage specific groups of participants who haven't taken full advantage of retirement savings programs or who have been underserved by their defined contribution plan.
Buck's Lowe setup a tool to get employees involved in their retirement
trueSavings InSight, the new feature in Buck Consultants' $150.7 million $401(k) plan, is “being insightful as well as providing insight to the future,” said Jeannie Lowe, San Francisco-based administrator of the 401(k) plan and Innovator Award winner.
International Paper's Sung launched a program for everyone to stay in the plan
trueCarol Sung really wants participants — current employees, former employees and retirees — to keep their savings in International Paper Co.'s $5.1 billion 401(k) plan, and she continues to look for ways to encourage them to stay.
Target-date fund outcomes expose fiduciaries to risk
trueTDFs are often black boxes, so many fiduciaries don't realize they do not have a rigorous conceptual basis — as demonstrated by the dramatic variation in the returns and asset allocations of funds with the same target date.