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Principal 401(k) participants settle with company on excessive fees claim
trueA federal district court judge in Des Moines, Iowa, has approved a settlement between Principal Life Insurance Co. and participants in two Principal 401(k) plans who had alleged plan executives breached their fiduciary duties by charging excessive fees for investment options and only offering ...
TJX picks Vanguard as new record keeper
trueThe TJX Cos. Inc. hired Vanguard Group as record keeper of its 401(k)/profit-sharing plan.
Appeals court affirms dismissal of lawsuit against State Street on management of GM stock fund
trueA federal appeals court affirmed the dismissal of a lawsuit by participants in two General Motors 401(k) plans who had alleged that State Street Bank failed to prudently manage a GM stock fund offered as an investment option.
Novant Health settles with DC participants on fiduciary breach allegations
trueNovant Health Inc. and participants in seven Novant defined contribution plans reached a preliminary settlement to allegations of fiduciary breaches in which Novant will pay $32 million and enact multiple changes in plan operations.
BP stock-drop lawsuit dismissed, again
trueA U.S. District Court in Houston dismissed complaints by participants in 401(k) plans administered by BP PLC that corporate and plan executives had breached their fiduciary duties by permitting participants to invest in a BP stock fund.
Boeing to pay $57 million to settle 401(k) fiduciary breach lawsuit
trueThe Boeing Co. agreed to pay $57 million to settle allegations by participants in the company’s 401(k) plan that plan executives breached their fiduciary duties, said a settlement document published Thursday.
GEICO gets personal with millennials using digital marketing techniques
trueGEICO is taking the adage “if you can't measure it, you can't manage it” to new heights for its retirement plans.
Tax exempt but tax prepared
trueIt's clear taxes will be center stage in the presidential race, which makes it all the more important for plan sponsors to make sure they have investment options that hedge tax uncertainty — no matter who ends up in the White House.
Intel sued over hedge, private equity fund investments in DC plans
trueA former Intel Corp. employee is suing officials at the Santa Clara, Calif.-based company for allegedly breaching their fiduciary responsibilities by investing defined contribution participants' retirement money in “risky and high-cost” hedge funds and private equity funds.
Retirement plans' fees and expenses face increasing scrutiny
trueOrganizations beware: Workers are becoming much savvier about investigating fees and other costs associated with retirement plans governed by the Employee Retirement Income Security Act.
PIMCO, Allianz sued for breaching fiduciary duty in its 401(k) plan
trueA new lawsuit against PIMCO and its sister company Allianz Global Investors accuses the two firms of breaching their fiduciary duty by loading up their joint employee defined contribution plan with poor performing and overpriced investment options from the two managers.
Dell's acquisition of EMC will create company with $9.1 billion in retirement assets
trueThe acquisition of EMC Corp., Hopkinton, Mass., by Dell Inc., Round Rock, Texas, could create a single technology company with a combined $9.1 billion in retirement assets.
DOL seeks new fiduciary for defunct Encorium plan
trueThe Department of Labor is seeking to remove Encorium Group Inc. as fiduciary of its 401(k) plan, for failure to conclude a plan termination.
IBEW Local Union 1141 picks MassMutual as 401(k) plan record keeper
trueIBEW Local Union 1141, Oklahoma City, hired MassMutual Retirement Services as record keeper for its supplemental pension and 401(k) plan.
Orbital ATK names senior director of investments
trueDaniel McManus was named senior director of investments for Orbital ATK, Dulles, Va. a news release said.