Corporate DC plans
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NAPF, Pensions Management Institute ends talks on potential merger
trueThe U.K.’s National Association of Pension Funds and the Pensions Management Institute have closed discussions over the potential merger of their organizations.
Huntington Ingalls goes with MetWest, drops PIMCO Total Return Fund
trueHuntington Ingalls Industries Inc. is adding the Metropolitan West Total Return Bond Fund as an investment option in one of its 401(k) plans.
Tennants Consolidated selects Buck as consultant for DB, DC plans
trueTennants Consolidated Ltd. Pension Fund, London, hired Buck Consultants to provide general retirement plan consulting, actuarial, administration and secretarial services for its defined benefit and defined contribution plans.
Standard Life DC plans hire Barnett Waddingham as investment consultant
trueStanplan A DC master trust and the Standard Life DC Master Trust, both in Edinburgh, hired Barnett Waddingham to provide investment consulting to the trustees.
NFL passes management, consultant services of 3 DC plans to PFM Asset Management
trueNational Football League owners and players hired PFM Asset Management to manage and advise several defined contribution retirement plans.
Manchester Airports Group DC plan taps Buck Consultants as administrator
trueManchester Airports Group Defined Contribution Pension Scheme, Manchester, England, hired Buck Consultants to provide administration and technology services to participants.
Aer Lingus freezes Irish Airlines pension fund, starts new DC plan
trueAer Lingus Group PLC’s plans to restructure its Irish Airlines (General Employees) Superannuation Scheme, which includes freezing the fund, have been approved by the Irish Pensions Authority, with changes expected to become effective Jan. 1.
GoDaddy.com adds Dodge & Cox to replace PIMCO fund
trueGoDaddy.com LLC is adding the Dodge & Cox Income Fund as an investment option in its 401(k) plan.
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.
Kohler Co. adds Vanguard, American Beacon options to 401(k) plan
trueKohler Co., Kohler, Wis., is adding three passive investment options managed by Vanguard Group and an active domestic large-cap value equity collective trust managed by American Beacon Advisors to the investment options lineup of its 401(k) plan.
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.
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.
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.
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.
Stillwater Mining taps Prudential as 401(k) record keeper
trueStillwater Mining Co. hired Prudential Retirement as record keeper of its 401(k) plans.