Defined contribution plans
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Census Bureau: Public pension fund assets inch up in fourth quarter
trueThe 100 largest U.S. public employee retirement systems had $3.337 trillion in assets as of Dec. 31, 0.2% more than the $3.3 trillion reported the previous quarter, said the U.S. Census Bureau’s Quarterly Survey of Public Pensions.
Ameriprise to launch record-keeper, consultant searches as part of 401(k) plan settlement
trueAmeriprise Financial Inc. will issue RFPs for a record keeper and investment consultant for its 401(k) plan as part of a settlement reached Thursday with participants in the plan.
Kansas Public Employees swaps midcap growth funds in 457 plan
trueKansas Public Employees Retirement System is adding the Vanguard Mid-Cap Growth Fund to the lineup of its $943 million 457 plan.
ICI: U.S. retirement assets near $25 trillion after 1.7% increase in fourth quarter
trueTotal U.S. retirement assets rose 1.7% in the quarter ended Dec. 31 to $24.7 trillion, the Investment Company Institute’s quarterly report said Thursday.
BP America CIO leaves for post with American Red Cross
trueGregory T. Williamson, Chicago-based chief investment officer of BP America Inc. and director-trust investments, the Americas, BP PLC, was named CIO of the American Red Cross.
North East Independent School District taps TIAA-CREF for DC plans
trueNorth East Independent School District, San Antonio, hired TIAA-CREF as third-party administrator for its 401(a) and 457 plans.
New Hampshire 457 plan scouting for provider
trueNew Hampshire Public Employees Deferred Compensation Plan is searching for a bundled provider for the $277 million 457 plan.
ERISA Advisory Council to study derisking and lifetime participation
trueThe Department of Labor ERISA Advisory Council will spend 2015 taking an in-depth look at pension fund derisking and lifetime plan participation.
Cequel III Management replaces 2 fund options in 401(k) plan
trueCequel III Management Co., St. Louis, is adding two new investment options to its 401(k) plan.
Who is leading in DC innovation? P&I wants to know their names
truePensions & Investments and the Defined Contribution Institutional Investment Association are seeking to identify and honor defined contribution plan executives who are advocating for — and doing the most to accomplish — changes in their plans that improve participants' retirement outcomes.
Missing the point of employer groups in Tibble fee case
trueThe March 9 editorial, Wasting 401(k) plan assets, contains a number of inaccuracies and misrepresentations of the employer community's position on Tibble vs. Edison, the pending U.S. Supreme Court case involving 401(k) plan fees. The undersigned organizations filed an amicus brief on Jan. 23 in ...
A judge's call for 401(k)s
trueThe federal judge who oversaw the Detroit bankruptcy case, Steven W. Rhodes, has offered a blunt assessment of the future of public retirement systems, calling for officials to consider moving to defined contribution plans.
Calvert focusing on DC plans in bid to boost institutional business
trueMore emphasis on corporate defined contribution plans is part of the growth strategy of Calvert Investments Inc. under new President and CEO John Streur.
McNabb: Small companies need simpler 401(k)s
trueThe U.S. needs a simplification of the administration around 401(k) retirement plans, said F. William McNabb III, CEO and chairman of The Vanguard Group Inc.
Empower survey: DC participants with financial advisers better prepared for retirement
trueDefined contribution participants who consult financial advisers have a much better chance of achieving retirement goals than people who don’t have advisers, said a survey published Monday by Empower Retirement.