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North Carolina launches record-keeper search for 2 DC plans
trueNorth Carolina Department of State Treasurer, Raleigh, is searching for a firm to provide record keeping and/or communication services for its 457 and 401(k) plans with more than $8.6 billion in combined assets.
Higher education DC plans turning to consultants, smaller lineups — survey
trueMore higher education retirement plans are using investment consultants while streamlining their investment options lineups, said a news release regarding a survey from Cammack Retirement Group.
Judge rejects Citigroup request for dismissal of 401(k) fees suit
trueA federal court judge in New York has rejected a Citigroup request for summary dismissal of a class-action lawsuit filed by two participants of a Citigroup 401(k) plan who allege the plan charged excessive fees.
Schlumberger adds Voya Financial target-date funds to 401(k) plan
trueSchlumberger Ltd. has added a custom target-date fund series to its $5.3 billion U.S. 401(k) plan, said Gary Park, director of trust investments for the Houston-based oil and gas company.
$45.4 billion in retirement assets affected by HP split announcement
trueHewlett-Packard Inc.'s plan to split into two companies will affect its $45.4 billion in combined worldwide defined benefit and defined contribution assets.
Towers Watson survey: DC plan execs missing big picture on target-date funds
trueDefined contribution plan executives are too focused on “investment metrics” when evaluating target-date funds rather than the role these funds should play in helping participants prepare for retirement, a new survey by Towers Watson & Co. finds.
Exelon powers up major 401(k) plan changes
trueExelon Corp. has overhauled the design and investments of its $6.2 billion 401(k) plan, seeking to provide greater diversification and simplicity while reducing costs.
Sonepar USA names new retirement program manager
trueAnnette Grabow was hired as retirement program manager for Sonepar USA, a subsidiary of France's Sonepar Group, a distributor of electrical products.
Cherokee Nation Businesses seeks DC consultant
trueCherokee Nation Businesses is searching for an investment consultant for its four 401(k) plans.
Heidrick & Struggles taps manager of global benefits
trueIra Finn was named manager of global benefits for Heidrick & Struggles International Inc., an executive search firm.
401(k)/IRA balances for those near retirement decline in 2013 from 2010
trueHouseholds approaching retirement had lower 401(k)/IRA balances in 2013 than 2010, a brief from the Center for Retirement Research at Boston College said.
Financial literacy in U.S. 'abysmal,' NAGDCA speaker says
trueDavid Laibson, the keynote speaker at the National Association of Government Defined Contribution Administrators’ annul conference, did not come bearing good news.
Archdiocese of New Orleans adds MFS option to 401(k) plan
trueRoman Catholic Archdiocese of New Orleans is adding the MFS Research Bond Fund as an investment option in its 401(k) plan, said Beth Tinto, human resources director.
Nestle USA switches brokerage window provider
trueNestle USA Inc. added a self-directed brokerage window provided by TD Ameritrade to its 401(k) savings plan lineup.
Trover Solutions chooses new 401(k) record keeper
trueTrover Solutions Inc. hired Standard Insurance Co. as record keeper of its 401(k) plan.