Watch breaking news videos and read news updates about 401k on pionline.com
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.
GAO: Collective trading activity by 401(k) participants not 'significant concern'
trueFrequent and collective trading among 401(k) plan participants is “uncommon and not a significant concern for plan participants, sponsors and mutual funds,” said a report by the Government Accountability Office.
Tibble ruling impact on target-date monitoring
trueAll 401(k) fiduciaries should be asking themselves a question now that the U.S. Supreme Court's Tibble et al. vs. Edison International decision has made it perfectly clear that no investment option, regardless of how prudently it was chosen, can be set on autopilot and forgotten.
Transition managers grab more DC business
trueMore white-label and unitized investment options in defined contribution plans are boosting the business of transition management firms hurt by the decline in defined benefit business.
Intel hires manager for target-date, global funds
trueIntel Corp. moved to external management for two big investment options that house all of the alternative investments in its $14.85 billion defined contribution plans.
U.S. solicitor general's recommendation doesn't spell end to RJR suit
trueWhen the U.S. solicitor general requests that the U.S. Supreme Court decline to hear a case, it isn't automatically the kiss of death for that case.
BMO planning sale of 401(k) record-keeping business in U.S.
trueBank of Montreal, Canada's fourth-largest lender, plans to sell its U.S. record-keeping business for 401(k) retirement accounts, according to people familiar with the transaction.
Supreme Court rules against Edison in 401(k) fiduciary breach case
trueThe U.S. Supreme Court on Monday broadened the responsibility of defined contribution plans, saying they have a “continuing duty to monitor trust investments and remove imprudent ones” even though federal law sets a six-year time limit for lawsuits alleging breaches of fiduciary duty.
BofA: More participants contributing to 401(k) plans; auto enrollment, escalation on the rise
trueMore than 1.5 million participants contributed to 401(k) accounts last year, an increase of 18% over the contributions by participants in 2013, said a report by Bank of America Merrill Lynch based on its record-keeping data.