Defined contribution plans
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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.
IRS adjusts 2015 retirement plan contribution limits for inflation
trueEmployees will be able contribute more to their defined contribution plans in tax year 2015, thanks to cost-of-living adjustments announced Thursday by the Internal Revenue Service.
Towers Watson launches non-profit think tank to improve investment industry
trueTowers Watson is launching a global, non-profit think tank comprising asset owners, investment managers and other services providers that will focus on improving the investment industry for end savers.
Denver Water looking for consultant for 2 DC plans
trueCity and County of Denver is searching for an investment consultant for Denver Water's 401(k) and 457 plans.
Ford dropping PIMCO Total Return Fund from 401(k) plan
trueFord Motor Co. will drop the PIMCO Total Return Fund as an option in its $12.8 billion U.S. 401(k) plan on Nov. 14.
San Diego State University Research Foundation revamps DC lineup
trueSan Diego State University Research Foundation is making changes to the investment lineup of its $147.3 million 403(b) plan.
Orlando Aviation Authority charts DC provider search
trueGreater Orlando (Fla.) Aviation Authority is searching for a bundled provider for its 401(a) and 457(b) plans, said an RFP posted on Orlando International Airport’s purchasing website.
Monroe County names 457 plan consultant
trueMonroe County 457 Deferred Compensation Plan, Rochester, N.Y., rehired Generation Capital Management as investment consultant for a five-year period, said Brayton Connard, director of human resources for the county and chairman of the $213 million plan, in an e-mail.
Buck Consultants taps DC head for the U.K.
trueSue Curley joined Buck Consultants as head of defined contribution trust based services in the U.K., said a spokeswoman.
Multiemployer DC plan goes with Great-West as record keeper
trueDirected Account Plan, Bridgeton, Mo., hired Great-West Retirement Services as record keeper, said Michelle Silberberg, executive director.
Verisight and Newport Group merge DC businesses
trueVerisight Inc., Walnut Creek, Calif., will acquire Newport Group Inc., Orlando, Fla., in a combination of companies that provide defined contribution record keeping, investment consulting, executive benefits and defined contribution consulting.
Washington County Public Schools looking for record keepers
trueWashington County Public Schools, Hagerstown, Md., is searching for record keepers for its $22 million 403(b) plan and $4 million 457 plan.