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Ameriprise Financial to pay $27.5 million in settlement with 401(k) participants
trueAmeriprise Financial Inc. will pay $27.5 million as part of a preliminary settlement with participants in its 401(k) plan, said a court document published Thursday.
Ameriprise to launch record-keeper, consultant searches as part of 401(k) plan settlement
trueAmeriprise Financial Inc. will issue RFPs for a record keeper and investment consultant for its 401(k) plan as part of a settlement reached Thursday with participants in the plan.
P&I TV: Daimler's Linvog and Hanesbrands' Frederick discuss using white-label funds
trueErik Linvog, the manager of benefit investments at Daimler Trucks North America, and Kendall Frederick, a senior manager, finance integration at Hanesbrands Inc., discuss why their 401(k) plans use white-label funds, and offer some examples of how plan size impacts the implementation of white-label ...
Litigation heavy on minds of defined contribution execs
trueDefined contribution plan executives are as concerned about litigation as they are about failing to meet their participants' retirement goals, investment consultants revealed in a survey by Pacific Investment Management Co. LLC, Newport Beach, Calif.
P&I TV: Denso's Youngblood talks about trying to reach 100% participation in 401(k) plan
trueSherry Youngblood discusses Denso Corp.'s efforts to not only get all the employees of the auto parts maker to participate in its 401(k) plan, but make sure they retire with 75% income replacement.
Supreme Court could take on case involving fiduciary burden of proof, damages
trueThe Supreme Court signaled its interest in taking a case questioning whether fiduciaries bear the burden of proof and whether they can be liable for monetary damages.
Wasting 401(k) plan assets
trueBig employers have come out in favor of higher-fee retail mutual funds in 401(k) plans. What are they thinking? That position is an unacceptable breach in the duty of fiduciaries.
Chevron drops Artisan, Neuberger Berman funds from 401(k) plan lineup
trueChevron Corp. removed the Artisan Mid Cap Fund and Neuberger Berman Genesis Fund from the lineup for one of its 401(k) plans.
Marvin Windows and Doors retools DC plan lineup
trueMarvin Windows and Doors Inc. is adding eight investment options to its profit sharing and 401(k) plan.
Ruby Tuesday serves up 3 new options to 401(k) plan
trueRuby Tuesday Inc. is adding three new investment options to its 401(k) plan.
Settlements offer lessons in breach suits
trueAs sponsors and service providers continue settling ERISA fiduciary breach lawsuits, the rest of the defined contribution industry is taking careful notes.
Company stock option fading from 401(k) plans
trueCompany stock in defined contribution plans continues to shrink as a percentage of assets, plans offering the option and participants investing in it, recent research and surveys show.
State private retirement programs get help from president
truePrivate-sector retirement solutions programs at the state level are getting a boost from the White House.
Lockheed Martin settles 401(k) fees case for $62 million
trueLockheed Martin Corp., Bethesda, Md., settled an employee class-action lawsuit over 401(k) plan fees for $62 million Friday.
Spectranetics Corp. taps Prudential as new 401(k) record keeper
trueSpectranetics Corp., Colorado Springs, Colo., hired Prudential Retirement as record keeper for its $37 million 401(k) plan, said Robert Fuchs, senior vice president and global head of human resources at Spectranetics.