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DOL issues RFI for guidance on brokerage windows in retirement plans
trueThe Department of Labor issued a request for information to determine whether it should issue additional regulations and/or guidelines for brokerage windows in retirement accounts covered by the Employee Retirement Income Security Act.
Sacramento utility seeks consultant for two DC plans
trueSacramento (Calif.) Municipal Utility District is searching for an investment consultant for its $208 million 401(k) and $99 million 457 plans
SolarCity signs Fidelity as record keeper
trueSolarCity Corp. hired Fidelity Investments as record keeper of its 401(k) plan.
Adding reality to valuations
trueThe Securities and Exchange Commission made the right decision in exempting defined contribution plans — but not defined benefit plans, foundations, endowments and other asset owners — from its new rule requiring the share values of institutional prime money market funds to fluctuate based on ...
Money market changes worrying DC executives
trueNew rules governing money market funds provide a quantum of solace but also a dose of uncertainty to defined contribution plan executives managing capital appreciation options.
Changing priorities could weaken retirement system
trueIt's no secret the U.S. retirement system needs to evolve, but this year we are seeing an unprecedented perfect storm.
401(k) balances exhibit strong growth for 5 years through 2012 — report
trueThe average account balance of 401(k) plan participants having accounts consistently from year-end 2007 to year-end 2012 had a compounded average annual growth rate of 6.8% during the period, the Investment Company Institute and the Employee Benefit Research Institute said Thursday.
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.