Corporate DC plans

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  1. Both sides in Tussey vs. ABB case file requests to appeal court ruling

    truePlaintiffs and a defendant have filed dueling requests to appeal a recent court ruling in the complex ERISA fiduciary-breach case Tussey vs. ABB.

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  1. ABB replaces Fidelity with BofA Merrill Lynch as record keeper for 2 plans

    trueABB Inc. hired Bank of America Merrill Lynch as the record keeper for two 401(k) plans.

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  2. U.K. High Court rules IBM breached pension duties

    trueInternational Business Machines Corp., Armonk, N.Y., breached its duties to U.K. pension fund participants in the way it implemented a restructuring of its arrangements, the High Court of Justice, Chancery Division has ruled.

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  3. CarMax adds MFS, PIMCO funds and drops Harbor Capital fund

    trueCarMax Inc. is adding the MFS International Equity Fund and PIMCO Total Return Fund as investment options in its 401(k) plan.

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  4. Triple Canopy hires Transamerica for record keeping, administration

    trueTriple Canopy Inc., Reston, Va., hired Transamerica Retirement Solutions for record-keeping services for the company's defined benefit plan and three 401(k) plans.

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  5. U.S. Court of Appeals splits rulings on ABB 401(k) mismanagement, clears Fidelity

    trueA federal appeals court on Wednesday issued a split decision in a prominent 401(k) case involving claims by participants that a sponsor, ABB Ltd., Cary, N.C., and its record keeper, Fidelity Investments, breached their fiduciary duties.

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  6. Callan: Target-date funds' steady growth in assets continues

    trueTarget-date funds continue their steady growth, moving closer to becoming the top investment asset allocation within defined contribution plans, according to the latest quarterly analysis by Callan Associates.

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  7. Novant Health participants file excessive-fee case

    trueParticipants in two Novant Health Inc. 401(k) plans filed a class-action lawsuit Wednesday against company fiduciaries, alleging excessive fees paid to third-party service providers, imprudent investment choices and concealment of financial arrangements with the providers and a plan adviser.

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  8. DC East speakers tout importance of education, communication

    trueSuccess in achieving defined contribution plan goals can rely as much on how plan executives and service providers communicate as to what investment options they offer, plan designs they prepare, and products and services they develop

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  9. Janney Montgomery Scott chooses Putnam as record keeper

    trueJanney Montgomery Scott LLC hired Putnam Investments as record keeper of its defined contribution plan.

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  10. Southwest Airlines brings NEPC on board for DC plans

    trueSouthwest Airlines Co. hired NEPC as investment consultant for its 401(k) and profit-sharing plans.

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  11. Massachusetts wants data on annual lump-sum matching DC contributions

    trueThe Massachusetts Securities Division is calling on 401(k) plan administrators to report how many companies have shifted to a lump-sum matching contribution once a year, a change that can undermine worker savings.

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  12. Chevron adding 3 options, dropping 2 in 401(k) plan

    trueChevron Corp., San Ramon, Calif., is adding three investment options and dropping two others to its 401(k) plan.

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  13. Infinity Pharmaceuticals chooses Principal as record keeper

    trueInfinity Pharmaceuticals Inc. hired Principal Financial Group as record keeper of its 401(k) plan.

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