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Study: Two-thirds want advice for their 401(k)
trueSixty-seven percent of respondents said they would like personalized investment advice for their 401(k) plan, according to Charles Schwab’s 2015 401(k) participant study. However, only 12% indicated they currently get this type of professional advice in managing their retirement assets.
Boeing 401(k) fiduciary breach lawsuit settled
trueAttorneys for The Boeing Co., Chicago, and participants in a Boeing 401(k) plan reached a provisional settlement in a case in which the participants had alleged breaches of fiduciary duty by plan administrators.
CenterPoint Energy chooses Voya as new record keeper for DC plan
trueCenterPoint Energy Inc. hired Voya Financial as record keeper for its CenterPoint Energy Savings Plan.
Undoing ill-advised guidance to improve fiduciary standards
trueHow the Department of Labor interprets fiduciary duty is getting a lot of attention these days.
AES Corp. hires T. Rowe Price as new 401(k) record keeper
trueAES Corp., Arlington, Va., hired T. Rowe Price Group as record keeper of its AES Corp. Retirement Savings Plan, said a company spokesman.
DOL moving forward on fiduciary rule
trueLabor Department officials are determined to produce a new standard of fiduciary duty for anyone giving retirement investment advice, once they process concerns raised in thousands of comment letters and four days of hearings on their proposal.
News Corp. cuts fees, simplifies 401(k) plans' options
trueManaging two 401(k) plans that serve participants in its multiple business units, officials at News Corp., New York, decided to go on a defined contribution diet to trim the fat and build muscle.
Target-date rush pushes assets of DC money managers to record
trueTarget-date fund assets surged more than 28% last year, helping produce record-high defined contribution assets under management, according to Pensions & Investments' annual survey of DC money managers.
DOL fiduciary proposal elicits torrent of comments
trueComment letters on the Department of Labor's proposed fiduciary rule poured in July 21, the last day of the comment period.
Plan sponsors must face up to Tibble ruling
trueThe U.S. Supreme Court's decision in Glenn Tibble et al. vs. Edison International et al. could lead sponsors of defined contribution plans to take extreme actions ranging from cutting back on investment fund options to abandoning plans altogether to avoid litigation risk. Both extremes would be a ...
House panel calls on DOL to withdraw proposed fiduciary rule
trueRepublican members on the House Education and the Workforce Committee want the Department of Labor to withdraw its proposed fiduciary rule.
North Carolina rehires Prudential as record keeper for 2 DC plans
trueNorth Carolina Retirement Systems rehired Prudential Retirement as record keeper for $9.1 billion in 457 and 401(k) plan assets.
Denver Water sticks with Empower Retirement as record keeper
trueDenver Water rehired Empower Retirement as record keeper for its 401(k) and 457 plans.
Federal judge, upon review, rules for ABB in investment mapping case
trueA U.S. District Court judge in Jefferson City, Mo., has ruled in favor of ABB Inc., Cary, N.C., in a claim by participants in ABB's two 401(k) plans that plan executives breached their fiduciary duty by mapping one investment to another.
Supreme Court declines 'reverse stock-drop' case
trueThe Supreme Court on Monday declined to review a “reverse stock-drop” case brought by fiduciaries of the R.J. Reynolds Tobacco Co. 401(k) plan hoping to undo a lower court ruling that they breached their duties.