Defined contribution plans
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Merchant Navy Ratings Pension Fund taps Towers Watson as fiduciary manager
trueMerchant Navy Ratings Pension Fund hired Towers Watson as fiduciary manager.
Henrico County, Va., seeking record keepers for 3 DC plans
trueHenrico County, Va., is searching for record keepers for the county’s central government 457 plan and public schools’ 403(b) and 457 plans.
BP stock-drop lawsuit dismissed, again
trueA U.S. District Court in Houston dismissed complaints by participants in 401(k) plans administered by BP PLC that corporate and plan executives had breached their fiduciary duties by permitting participants to invest in a BP stock fund.
Boeing to pay $57 million to settle 401(k) fiduciary breach lawsuit
trueThe Boeing Co. agreed to pay $57 million to settle allegations by participants in the company’s 401(k) plan that plan executives breached their fiduciary duties, said a settlement document published Thursday.
Treasury Department launches myRA program
trueMore Americans will have access to a retirement savings account under the Treasury Department’s expanded myRA program.
Kentucky governor-elect wants to move new hires into DC plan
trueKentucky's retirement systems could see changes under Matt Bevin's leadership after the Republican businessman was elected governor of Kentucky on Tuesday.
Mercer reshuffles as it launches U.S. DC and financial wellness unit
trueTom Murphy, a senior partner at Mercer, was named the head of the consulting firm’s newly created U.S. defined contribution and financial wellness business unit.
Towers Watson's multiemployer DC platform hires LGIM for investment strategies
trueLifeSight, consultant Towers Watson’s multiemployer defined contribution occupational pension plan, hired Legal & General Investment Management to provide an investment platform and defined contribution strategies.
Defined contribution execs refining tools to reach millennials
trueAs they court the defined contribution version of the youth vote, plan executives are seeking ways to convince their youngest workers to save more and save earlier.
Global retirement strategy guides DC growth for American Express
trueAmerican Express is taking its pioneering spirit in retirement planning global.
U.K. firms are looking for new talent
trueGlobal money managers are scrambling for the talent and strategies that will work for defined contribution “lifers” — those with only DC plans to provide income in retirement — and with a particular focus on the ever-changing U.K. market.
Wisconsin women bridge pension gender gap with EMPOWER-ing program
trueAt the heart of the Wisconsin Department of Employee Trust Funds' EMPOWER campaign is sheer determination.
New name, new logo . . . same mission
trueNew Mexico Public Employees Retirement Association, Santa Fe, is rebranding its deferred compensation plan, giving it a new name, plus a logo that the $500 million 457 plan will share with PERA's $14 billion defined benefit plan, said Jonathan Grabel, chief investment officer.
Ruling underscores need to re-examine fees, record policy
trueWhile it has always been important for defined contribution plan fiduciaries to have an established fee philosophy for their plan and thorough documentation of decisions, these issues have returned to the spotlight following the U.S. Supreme Court's ruling in the case of Tibble et al. vs. Edison ...
Innovator Awards 2015: Recognizing trailblazing DC plan initiatives
true2015's Innovator Award winners have all broken new ground to help close the gap in pension benefits inequality.