Corporate DC plans
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Corzine, ex-MF Global officials to settle investor lawsuit
trueJon S. Corzine, the former CEO of MF Global Holdings Ltd., and former directors and officers agreed to pay $64.5 million to settle an investor lawsuit in the latest unwinding of litigation against the failed brokerage.
Hanover County, Va., on lookout for consultant for 3 DC plans
trueHanover County, Va., is searching for an investment consultant for its three defined contribution pl said an RFP on the county's purchasing website.
Discount rate rises for fifth straight month, boosting corporate pension funding ratios — 2 reports
trueThe funded status of corporate defined benefit plans rose in June because of falling liabilities, said reports from BNY Mellon and Aon Hewitt.
BNY Mellon bolsters business development team working with DC record keepers
truePeter Hebert has been named a senior vice president responsible for business development at the retirement services unit of BNY Mellon Investment Management.
PBGC files liens against Times Publishing
trueThe PBGC filed liens against the Times Publishing Co., for $30.5 million in missed pension fund contributions and related interest and penalties.
Aetna deal to acquire Humana would add $3.2 billion in DC assets
trueAetna's acquisition of Humana for $37 billion could create a single company with combined retirement assets of about $15.8 billion.
Church of England pension fund assets jump 13% in 2014
trueTotal assets managed by the Church of England Pensions Board increased 13% to £1.82 billion ($2.83 billion) for the year ended Dec. 31, thanks in part to an 18.1% return from the board's liability-matching investment pool.
Corporate pension funding improves in June despite drop in asset values — 2 reports
trueThe funded status of U.S. corporate pension plans improved slightly in June, said two new reports released Monday.
Corporate defined benefit funded status up for quarter, reports say
trueThe funded status of a typical U.S. corporate pension plan rose in the second quarter of 2015 due to falling liabilities, said two new reports from Legal & General Investment Management America and UBS Global Asset Management.
Nestle to freeze U.K. pension plan
trueNestle U.K., Gatwick, England, announced Thursday it plans to freeze its defined benefit pension scheme, replacing it with a defined contribution plan.
FASB to address net pension costs on income statements
trueThe Financial Accounting Standards Board will develop guidance on how companies present the net periodic cost of pensions and other postretirement benefits on their income statements.
Fidelity Investments DCIO executive dies at age 54
trueFrederick Charles Conley, senior vice president of institutional DCIO sales at Fidelity Financial Advisor Solutions, died June 26. He was 54.
403(b) plan costs declining — report
trueAverage asset-weighted total plan costs for 403(b) plans dropped to 51 basis points in 2012, down from 59 basis points in 2009, said a report released Tuesday by the Investment Company Institute and BrightScope.
Massachusetts 457 plan seeks managers for active large-cap and passive strategies
trueOffice of the Massachusetts Treasurer and Receiver General is searching for managers for an active large-cap growth equity strategy and five passive strategies for the state's approximately $6 billion 457 plan.
IRA regulation on the horizon, Washington experts say
trueThe Department of Labor’s proposed update to its fiduciary rule “is all about the ERISA-fication of the IRA space,” Groom Law Group Chairman Steven Saxon told attendees at the Insured Retirement Institute’s Washington conference on Monday.