Corporate DC plans
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Ford dropping PIMCO Total Return Fund from 401(k) plan
trueFord Motor Co. will drop the PIMCO Total Return Fund as an option in its $12.8 billion U.S. 401(k) plan on Nov. 14.
Supreme Court agrees to hear case on fiduciary breach time limits
trueThe Supreme Court agreed Thursday to decide whether 401(k) plan fiduciaries can be sued for more expensive investment choices made years earlier.
HSBC outsources its DC plan assets to Fidelity
trueHSBC, London, outsourced its £1.8 billion ($2.9 billion) in defined contribution assets to Fidelity Worldwide Investment, said Phillip Bretnall, chief operating officer at HSBC Bank Pension Trust (U.K.).
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.
Heidrick & Struggles taps manager of global benefits
trueIra Finn was named manager of global benefits for Heidrick & Struggles International Inc., an executive search firm.
Dassault Systemes makes changes to DC plan lineup
trueDassault Systemes Americas Corp. added three investment options to its 401(k) plan.
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.
Towers Watson: Retirement plan landscape stabilizing for Fortune 500 companies
trueWhile the 15-year trend of Fortune 500 companies moving away from defined benefit plans is continuing, the rate of transition is slowing down and the retirement plan landscape is stabilizing, said a report from Towers Watson.
High court seen likely to take ERISA fidicuary-breach case
trueChances have improved that the Supreme Court could rule on an ERISA fiduciary-breach case involving a dispute over how courts should interpret the law's statute of limitations on fiduciary-breach lawsuits, ERISA attorneys say.
Supreme Court appeal filed in DC plan fiduciary breach case
truePlaintiffs in a defined contribution plan fiduciary breach case, Tussey et al. vs. ABB Inc. et al., have filed an appeal with the U.S. Supreme Court.
SolarCity signs Fidelity as record keeper
trueSolarCity Corp. hired Fidelity Investments as record keeper of its 401(k) plan.
Lockheed Martin 401(k) class-action lawsuit approved for trial
trueA class-action lawsuit brought by employees of Lockheed Martin Corp., Bethesda, Md., has been approved for trial by a U.S. district court judge.
Integra chooses Prudential as record keeper
trueIntegra Inc. hired Prudential Financial as record keeper of its $65 million 401(k) plan.
Lockheed Martin to freeze pension plan in 2016
trueLockheed Martin Corp., Bethesda, Md., will freeze its defined benefit pension plan in early 2016 and start shifting active salaried workers to an enhanced defined contribution program, the company announced Tuesday.