Corporate DC plans
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IPPs becoming vehicle of choice for multinationals
Multinational corporations increasingly are looking to international defined contribution plans to cover large populations of local employees in key markets where domestic retirement plan options don't exist or offer poor value.
Panasonic to shift retirement benefits program to DC from DB
Panasonic Corp., the Japanese electronics giant, announced Friday it would change its retirement benefits program to a defined contribution plan from its current defined benefit plan.
Plexus Corp. adds new asset classes to 401(k) lineup
Plexus Corp., Neenah, Wis., revamped the investment lineup for its $202 million 401(k) plan.
Firms boosting employee stock purchase plans as economy improves, survey finds
Improving economic conditions and a stronger job market are leading U.S. companies to make moves to enhance their employee stock purchase plans, according to a Fidelity survey.
Boeing to close DB plan to technical workers
Boeing Co. will close its defined benefit plan to new hires in the technical worker unit of the Society of Professional Engineering Employees in Aerospace, IFPTE Local 2001, after members voted overwhelmingly Monday to accept a contract offer, according to Boeing and union officials.
Pinnacle West Capital hires Fidelity for record keeping
Pinnacle West Capital Corp., Phoenix, hired Fidelity Investments as record keeper of its 401(k) plan.
88% of corporate DC plans kept employer match through financial crisis — survey
Most employers kept their defined contribution matching contributions intact following the financial crisis of 2008, according to a survey by the American Benefits Institute and WorldAtWork.
Fidelity Investments faces fresh lawsuit over float income
Participants from three more 401(k) plans have sued Fidelity Investments, alleging the company violated ERISA through its use of float income.
BofA Merrill Lynch: 401(k) participants increased contributions in Q4
Eighty-one percent of participants in Bank of America Merrill Lynch-administered 401(k) plans started or increased contributions during the fourth quarter of 2012, a 5% increase over the fourth quarter of 2011, the company announced Thursday.
ADM picks Mercer as DC administrator
Archer Daniels Midland Co. hired Mercer as administrator of its 401(k) plans for salaried and hourly employees.
Boeing to close DB plan to new engineers
Boeing Co., Chicago, will close its defined benefit plan to Puget Sound, Wash.-based new hires in the professional engineering portion of the Society of Professional Engineering Employees in Aerospace.
SunTrust Bank overhauls DC fund lineup
SunTrust Bank Inc., Atlanta, overhauled the fund lineup of its 401(k) plan.
Dell 401(k) participants would get minor boost from privatization deal
Participants in Dell Inc.'s 401(k) plan who hold Dell stock will receive a modest gain from the Round Rock, Texas, company's decision to go private; but the impact on the overall 401(k) will be slight because Dell stock represents only about 4% of the total plan assets.
New Jersey Sports & Exposition Authority wants bundled provider
New Jersey Sports & Exposition Authority, East Rutherford, N.J., is searching for a bundled provider for its $12 million 401(k) plan.
CarMax adds two funds to 401(k) lineup
CarMax Inc. added the ING Small Cap Growth Equity Trust fund and Vanguard Developed Markets Index fund as investment options in its 401(k) plan.