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GAO: Collective trading activity by 401(k) participants not 'significant concern'
trueFrequent and collective trading among 401(k) plan participants is “uncommon and not a significant concern for plan participants, sponsors and mutual funds,” said a report by the Government Accountability Office.
Tibble ruling impact on target-date monitoring
trueAll 401(k) fiduciaries should be asking themselves a question now that the U.S. Supreme Court's Tibble et al. vs. Edison International decision has made it perfectly clear that no investment option, regardless of how prudently it was chosen, can be set on autopilot and forgotten.
Transition managers grab more DC business
trueMore white-label and unitized investment options in defined contribution plans are boosting the business of transition management firms hurt by the decline in defined benefit business.
Intel hires manager for target-date, global funds
trueIntel Corp. moved to external management for two big investment options that house all of the alternative investments in its $14.85 billion defined contribution plans.
U.S. solicitor general's recommendation doesn't spell end to RJR suit
trueWhen the U.S. solicitor general requests that the U.S. Supreme Court decline to hear a case, it isn't automatically the kiss of death for that case.
BMO planning sale of 401(k) record-keeping business in U.S.
trueBank of Montreal, Canada's fourth-largest lender, plans to sell its U.S. record-keeping business for 401(k) retirement accounts, according to people familiar with the transaction.
Supreme Court rules against Edison in 401(k) fiduciary breach case
trueThe U.S. Supreme Court on Monday broadened the responsibility of defined contribution plans, saying they have a “continuing duty to monitor trust investments and remove imprudent ones” even though federal law sets a six-year time limit for lawsuits alleging breaches of fiduciary duty.
BofA: More participants contributing to 401(k) plans; auto enrollment, escalation on the rise
trueMore than 1.5 million participants contributed to 401(k) accounts last year, an increase of 18% over the contributions by participants in 2013, said a report by Bank of America Merrill Lynch based on its record-keeping data.
Verizon deal for AOL would add more than $600 million in DC plan assets
trueVerizon Communications Inc., New York, announced Tuesday it plans to purchase AOL Inc., New York, for about $4.4 billion in a deal that would add more than $600 million in assets to the telecommunications provider’s defined contribution plans.
Gannett goes with Vanguard as new 401(k) record keeper
trueGannett Co., McLean, Va., hired Vanguard Group as record keeper of its 401(k) plan.
DC plans with company stock slow to adopt changes following high court ruling
trueEleven percent of employers offering company stock in their defined contribution plans have hired independent fiduciaries to monitor the investment option since a Supreme Court ruling in June on stock-drop lawsuits, a report by Towers Watson said Tuesday.
Brightscope: Proprietary target-date funds continue to lose share
trueProprietary target-date fund assets have lost their majority status among total target-date fund assets, said research published Tuesday by BrightScope, a firm that evaluates 401(k) plans.
Concerned? Please speak up
trueThe Department of Labor has taken a welcome step in protecting the retirement assets of workers with its proposed new fiduciary rule.
San Bernardino County consolidates DC plan lineup
trueSan Bernardino County, Calif., is consolidating the lineups of its defined contribution plans, said a letter to plan participants on the county's human resources website.
Dow Corning switches to Vanguard as record keeper of 401(k) plan
trueDow Corning Corp. hired Vanguard Group to replace T. Rowe Price as record keeper of its Employees' Capital Accumulation 401(k) plan.