Defined contribution plans
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DOL asked to back off brokerage rules
trueDefined contribution industry representatives are resuming efforts to convince Labor Department officials that more extensive regulation of self-directed brokerage accounts is unnecessary and burdensome.
NEST executive seeks innovation in DC strategies
trueThe chief investment officer at the National Employment Savings Trust, London, has thrown down the gauntlet to providers of defined contribution strategies to innovate for a new DC market in the U.K., when participants will no longer be required to purchase an annuity — but to keep the participant ...
trueIt might be difficult to find a defined contribution plan sponsor that hasn't had a conversation about custom target-date funds this year. In part that's because the Department of Labor specifically directed plan sponsors to consider the idea of customization in target-date funds in the tips they ...
DC participants surpass DB in U.K. for first time
trueActive participants of defined contribution plans in the U.K. outnumber active participants of defined benefit funds for the first time in the 40 years of the National Association of Pension Fund's annual survey.
House approves 529 plan model for savings accounts for disabled people
trueLegislation creating tax-free savings accounts for people with disabilities was approved by the House on Wednesday.
Illinois General Assembly passes private-sector retirement savings act
trueThe Illinois General Assembly passed the Illinois Secure Choice Savings Program Act, which creates an auto enrollment, payroll-deducted retirement savings account for private-sector employees whose employers do not offer retirement plans.
U.K.'s NEST seeks short-term gilt managers
trueNational Employment Savings Trust, London, is looking for a manager to run 10 single-year maturity gilt allocations, said Mark Fawcett, chief investment officer at the £260 million ($407.3 million) plan.
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.
Institutional investors team up against Delaware court ruling on legal fees
trueA Delaware Supreme Court decision that lets companies shift legal fees to investors bringing lawsuits has public pension funds and other institutional investors up in arms.
PSCA: Auto enrollment and default deferral rates up in 2013
trueThe percentage of 401(k) and profit-sharing plans using auto enrollment rose to 50.2% last year, up from 47.2% in 2012, said the latest annual survey by the Plan Sponsor Council of America, released Tuesday.
Ferris State University wants consultant for 4 DC plans
trueFerris State University is searching for a consultant for its three 403(b) plans and 457(b) plan.
Innovator awards: Present and past winners
trueLearn how these 17 defined contribution plan executives are improving retirement readiness through groundbreaking plan changes.
Stillwater Mining taps Prudential as 401(k) record keeper
trueStillwater Mining Co. hired Prudential Retirement as record keeper of its 401(k) plans.
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trueKansas Public Employees Retirement System will add the Vanguard Selected Value Fund to the lineup of its 457 plan in January.
Utah Retirement Systems introduces custom target-date funds
trueUtah Retirement Systems will add a series of custom target-date funds to the lineup of its defined contribution plans, effective Jan. 1, 2015.