Corporate DC plans

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  1. 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.

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  1. 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.

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  2. Lockheed 401(k) lawsuit on hold to see if trial can be avoided

    trueLockheed Martin Corp. and its workers and retirees agreed to delay a trial over its retirement plans by a day to see whether the dispute can be settled out of court.

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  3. Associated British Foods DC plan drops PIMCO multiasset fund for Invesco Perpetual

    truessociated British Foods DC Pension Scheme, London, is adding Invesco Perpetual’s Global Targeted Returns Fund to the lineup of its defined contribution plan. The Invesco fund will replace the PIMCO Global Multi-Asset Fund, which is being removed this month.

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  4. Brief filed in Supreme Court fiduciary-breach case; date set for Lockheed 401(k) trial

    trueThe Supreme Court should not prevent 401(k) plan fiduciaries from being sued for more expensive investment choices made years earlier, petitioners argued in a brief filed Tuesday in Tibble et al. vs. Edison International et al.

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  5. Stillwater Mining taps Prudential as 401(k) record keeper

    trueStillwater Mining Co. hired Prudential Retirement as record keeper of its 401(k) plans.

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  6. AutoNation adds 3 investment options, target-date funds

    trueAutoNation Inc., Fort Lauderdale, Fla., is adding three investment options and a new target-date fund lineup, and removing four investment options and its company stock fund in its 401(k) plan following a review by the company’s benefits committee.

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  7. BMO Harris 401(k) goes with MetWest, drops PIMCO

    trueBMO Harris Bank is adding the MetWest Total Return Fund to its 401(k) plan.

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  8. 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.

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  9. 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.

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  10. Average 401(k) balance as of Sept. 30

    trueThe average 401(k) balance as of Sept. 30 was $89,100. That figure -- based on the 21,300 corporate defined contribution plans for which Fidelity is record keeper -- was down 2% from June 30 but up 5.7% from Sept. 30, 2013.

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  11. Labor Department files lawsuit against fiduciaries of Severstal Wheeling Inc.

    trueThe Labor Department filed a lawsuit against the fiduciaries of two Severstal Wheeling Inc. defined contribution plans, alleging the fiduciaries “imprudently invested” plan assets, resulting in plan losses in excess of $7 million, court documents show.

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  12. Granite Services International adds BlackRock option to replace PIMCO Total Return

    trueGranite Services International Inc. is adding the BlackRock Core Bond Fund as an investment option in its 401(k) plan.

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  13. Parsons Corp. picks Dodge & Cox to replace PIMCO fund in 401(k) plan

    trueParsons Corp. is adding the Dodge & Cox Income Fund to the investment lineup of its 401(k) plan.

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