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Congressional changes raise prospects for legislative action
trueRetirement savings incentives and regulation of money managers will get a fresh look from federal officials in 2015, as Republicans gained control of both houses of Congress for the first time since 2006, and seek to distance themselves from the 113th Congress' thin record of accomplishments.
Broader focus coming to bear on total retirement readiness
trueIn the defined contribution arena, the new year is expected to be one of financial wellness as plan executives look for ways to educate participants and evaluate their retirement readiness based on more than just their 401(k) or other DC plan accounts.
Judge allows Eastman Kodak stock-drop case to continue
trueA stock drop case against Eastman Kodak Co. and plan fiduciaries is allowed to continue.
401(k) loan balances remain stagnant for fifth straight year
trueThe percentage of 401(k) participants with loan balances has remained steady in recent years, staying at 21% in 2013, the same level as in each year since 2009, according to a report issued Thursday by the Investment Company Institute and the Employee Benefit Research Institute.
Kohler Co. adds Vanguard, American Beacon options to 401(k) plan
trueKohler Co., Kohler, Wis., is adding three passive investment options managed by Vanguard Group and an active domestic large-cap value equity collective trust managed by American Beacon Advisors to the investment options lineup of its 401(k) plan.
Lockheed reaches agreement to settle 401(k) fee case
trueA class-action lawsuit brought by employees of Lockheed Martin Corp. alleging excessive 401(k) plan fees is in the process of being settled.
401(k) plan costs decrease as indexing becomes more popular — report
trueAverage asset-weighted total plan costs for 401(k) plans dropped to 39 basis points in 2012 from 49 basis points in 2009, said a report released Monday from the Investment Company Institute, and BrightScope, a company that evaluates 401(k) plans.
RadioShack to end 401(k) retirement matching to cut costs
trueRadioShack Corp., the struggling electronics retailer, will stop matching employees’ retirement fund contributions.
Stillwater Mining taps Prudential as 401(k) record keeper
trueStillwater Mining Co. hired Prudential Retirement as record keeper of its 401(k) plans.
JM Family Enterprises' DC plan is big on alternatives
trueSeeking to reduce risk and volatility in the company's defined contribution plans, officials at JM Family Enterprises Inc. have been adding alternative investments ranging from commodities and hedge funds of funds to global tactical asset allocation and direct real estate.
Everyone is focusing on the wrong goal in retirement planning
trueRobert C. Merton, 1997 Nobel laureate, wrote in the July-August issue of Harvard Business Review: “The seeds of an investment crisis have been sown. The only way to avoid a catastrophe is for plan participants, professionals and regulators to shift the mindset and metrics from asset value to ...
Supreme Court declines stock-drop case
trueThe Supreme Court on Monday declined to hear an appeal by participants in a class-action lawsuit against Cleveland-based KeyCorp and fiduciaries of the firm’s $1.5 billion 401(k) plan, alleging company stock was an imprudent investment.
Oregon utility fires up record-keeper search for 2 DC plans
trueCentral Lincoln People’s Utility District is searching for a record keeper for its $13 million 457 plan and $1 million 401(k) plan.
Supreme Court won't review Tussey vs. ABB fiduciary breach case
trueThe U.S. Supreme Court on Monday declined a petition that it review Tussey et al. vs. ABB Inc. et al., a fiduciary breach case that has been closely watched by the definehttp://edit.pionline.com/apps/pbcsedit.dll/redd contribution plan community.
P&I spotlights 5 who went extra mile for participants
true2014's five Innovator Award winners all sought to engage specific groups of participants who haven't taken full advantage of retirement savings programs or who have been underserved by their defined contribution plan.