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Kentucky Deferred Comp shifts equity fund focus
trueKentucky Public Employees’ Deferred Compensation Authority, Frankfort, is making changes to the investment lineup of its 457(b) and 401(k) plans.
Execs struggle with auto-escalation issue
trueDefined contribution plan executives are wrestling with ways to improve participants' savings through automatic escalation.
Fidelity: Average 401(k) balance up 12.9% in last 12 months
trueThe average account balance for participants in 401(k) plans administered by Fidelity Investments rose to $91,000 for the quarter ended June 30, the company reported Friday.
BP employees can sue for stock losses, appeals court says
trueBP PLC employees can sue managers of the company’s retirement plan over losses related to the 2010 Gulf of Mexico oil spill, a U.S. appeals court said.
Idaho Public Employees nears decision in record-keeper search
trueIdaho Public Employee Retirement System, Boise, selected finalists in its search for a record keeper for its $595 million 401(k) plan, said spokesman Kelly Cross.
ICI: 401(k) mutual fund fees continue to drop
trueAverage fees for equity mutual funds held in 401(k) accounts fell to 58 basis points last year, down five points from 2012, said a report by the Investment Company Institute published Monday.
End of prudence presumption raising employer stock questions
trueThe U.S. Supreme Court ruling in Fifth Third Bancorp. et al. vs. Dudenhoeffer et al. has injected uncertainty into defined contribution plans' use of employer stock in investment menus.
Court offers guidelines to determine trial likelihood
trueThe U.S. Supreme Court's decision in Fifth Third Bancorp et al. vs. Dudenhoeffer et al. removed the presumption of prudence standard often used by defined contribution plans to defend their use of employer-stock against fiduciary-breach lawsuits when the company stock sank.
Bogle: Mandates not needed; compensation 'out of control'
trueJohn C. “Jack” Bogle is firmly against mandates when it comes to everything, from setting a single retirement age to requiring that employers set up retirement savings plans to creating a retirement income adequacy target.
Integra chooses Prudential as record keeper
trueIntegra Inc. hired Prudential Financial as record keeper of its $65 million 401(k) plan.
Landauer moves to New York Life Retirement for record keeping
trueLandauer Inc. hired New York Life Retirement Plan Services as record keeper of its $15.6 million 401(k) plan.
Ocean Shore Holding switches to Newport Group for 401(k) plan
trueOcean Shore Holding Co., Ocean City, N.J., hired The Newport Group as record keeper of its 401(k) plan.
Heat is rising on financial firms' use of own strategies in their 401(k) plans
trueFinancial services firms that want to use their own products and services for their defined contribution plans are facing a growing body of case law that so far is not going their way.
DOL fee-disclosure guide upsetting DC record keepers
trueMembers of the defined contribution industry have had three months to try to digest a Department of Labor proposed rule on fee disclosure, and many of them are choking on it.
Labor Department proposal all about location
trueThe Department of Labor has proposed that service providers create a guide for defined contribution plans to identify where fee-disclosure information is located.