Defined contribution plans

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  1. L.A. County Deferred Comp selects 2 small-cap growth equity managers

    trueLos Angeles County Deferred Compensation and Thrift Plans hired Elk Creek Partners and Rice Hall James & Associates to manage $80 million each in small-cap growth equity separate accounts.

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  2. U.K.'s NEST taps Legal & General for short-term gilt allocation

    trueNational Employment Savings Trust hired Legal & General Investment Management to run single-year maturity gilt allocations.

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  3. Aberystwyth University taps Legal & General to develop new DC plan

    trueAberystwyth University hired Legal & General Investment Management to design and implement a new defined contribution plan.

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  4. Towers Watson: Institutional investors remain uncertain over future of global economy

    trueInstitutional investors continue to be uncertain about the global economy, a new Towers Watson survey says.

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  5. WSP Parsons Brinckerhoff selects Mercer to provide actuarial services for 7 plans

    trueWSP Parsons Brinckerhoff, London, hired Mercer to provide actuarial services to its seven U.K. retirement plans.

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  6. NAGDCA: Public DC participant assets up, target-date funds gain more default option traction

    trueThe average account balance for participants in public defined contribution plans rose to $59,000 last year, up 11% from 2013, according to the latest annual survey by the National Association of Government Defined Contribution Administrators.

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  7. University of California adds 3 DC fund options, drops 48 for simplification

    trueThe University of California system, Oakland, is adding three core fund options and dropping 48 investments from its lineup for three defined contribution plans as part of a continuing effort to simplify choices for participants.

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  8. Virginia Beach digs for 457 plan investment consultant

    trueVirginia Beach (Va.) Deferred Compensation Board is searching for an investment consultant for its $256 million 457 plan.

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  9. Southern California water district taps TIAA-CREF as record keeper

    trueMetropolitan Water District of Southern California hired TIAA-CREF as record keeper for its $343 million 401(k) plan and $110 million 457(b) plan.

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  10. LCP: Global equity fees down in past 5 years, but charges rise in other asset classes

    trueMore than half of money managers running global equity allocations have reduced the fees charged to new clients by an average 20% over the past five years, new research shows.

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  11. Northern Trust: Target-date funds surge in DC plan allocation

    trueTarget-date fund allocations in defined contribution plans soared in 2014, climbing to 22% of plan assets from 15.7% in 2013, said a Northern Trust survey of 100 DC plan clients with $265 billion in total assets.

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  12. 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.

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  13. 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.

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  14. 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.

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