Defined contribution plans
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Illinois State Board of Investment seeks small-cap option for 457 plan
trueIllinois State Board of Investment is searching for an active domestic small-cap growth equity manager for the state’s $4.1 billion deferred compensation plan.
U.K.'s Pensions Regulator levies first fines over auto-enrollment compliance
trueThe Pensions Regulator, the U.K.'s pension watchdog, issued its first fines to employers for not meeting their automatic enrollment duties and issued 163 compliance notices.
Precision, flexibility vital for DC plans, say speakers at P&I conference
trueDefined contribution executives need to be both precise and flexible in the managing of their plans, according to fellow sponsors, consultants and providers who spoke at the annual Pensions & Investments West Coast Defined Contribution Conference, held Oct. 26-28 in San Diego.
Exelis hires Voya in move to consolidate 401(k) plans
trueExelis Inc. hired Voya Retirement Services as sole record keeper of its 401(k) plan.
Ohio Bureau of Workers' Compensation gives $3 billion to 4 bond managers
trueOhio Bureau of Workers' Compensation hired J.P. Morgan Asset Management, Loomis Sayles & Co., Prudential Financial and TCW Group to run about $725 million each in active domestic core-plus fixed income for the $24 billion state insurance fund.
American Airlines picks Fidelity as sole provider for 401(k) plans
trueAmerican Airlines Fidelity Investments as sole provider for its 401(k) plans, starting in mid-2015.
5 winners named in P&I's Innovator Awards
trueFive winners of the third annual Innovator Awards were announced Monday by P&I and DCIIA.
San Francisco deferred comp plan manager resigns
trueJulia Durand has resigned as deferred compensation plan manager for the San Francisco City & County Employees' Retirement System.
White-label funds on rise for DC plans
trueDefined contribution plan executives increasingly are replacing brand-name mutual funds with no-name options, trying to simplify investment lineups, increase portfolio diversity and reduce fees.
Clock ticking for managers in changing U.K. defined contribution market
trueGlobal money managers operating in the U.K.'s defined contribution market are running out of time to get their strategies in line for a world where savers have more freedom than ever before.
Battle for share of PIMCO spoils is getting hotter
trueThe money spigot is expected to keep flowing for PIMCO competitors who are working hard to snare the billions in fixed-income investments in play following September's departure of William H. Gross from the firm he co-founded.
IRS allows use of annuities in target-date fund series
trueThe Internal Revenue Service on Friday said defined contribution plans’ use of a target-date fund series containing deferred annuities won’t violate IRS rules against DC plans discriminating in favor of higher paid employees, as long as other IRS guidelines are followed.
Columbus, Ga., issues call for 457 plan provider
trueColumbus, Ga., is searching for a bundled provider for its $20 million 457 plan, said Andrea J. McCorvey, the city’s purchasing division manager.
Montana DC plan searches for potential PIMCO replacement
trueMontana Public Employees' Retirement Association, Helena, is searching for a fixed-income manager to potentially replace Pacific Investment Management Co. in its $425 million 457 plan, said Patricia Davis, member services bureau chief.
Alaska retirement division seeks record keeper for 4 DC plans
trueAlaska Department of Administration, Division of Retirement and Benefits, Juneau, is searching for one or more record keepers for its four defined contribution plans, said an RFP on the department's website.