Defined contribution plans
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Westchester County 457 plan selects Centurion Group as consultant
trueWestchester County Deferred Compensation Board, White Plains, N.Y., hired The Centurion Group as its first ongoing investment consultant.
University of California removes DC option, switches default option
trueUniversity of California, Oakland, is removing the Dreyfus Treasury Prime Cash Management Fund from the lineup of its 403(b), 457(b) and 401(a) plans, effective Sept. 30.
Archdiocese of New Orleans adds MFS option to 401(k) plan
trueRoman Catholic Archdiocese of New Orleans is adding the MFS Research Bond Fund as an investment option in its 401(k) plan, said Beth Tinto, human resources director.
Towers Watson: U.K. employees turning away from annuities for retirement savings
trueU.K. employers expect only 40% on average of their employees to buy an annuity to fund their retirement once the government's new rules over defined contribution plans come into effect, beginning in April 2015, a Towers Watson survey found.
Great-West appoints president to oversee larger retirement business
trueEdmund F. Murphy III was named president of the retirement business of Great-West Financial.
Chicago water district swaps 457 providers
trueChicago Metropolitan Water Reclamation District hired Prudential Retirement as bundled provider for its $196 million 457 deferred compensation plan.
Montgomery County taps SSgA for target-date funds
trueMontgomery County Employees’ Retirement System, Rockville, Md., hired State Street Global Advisors to manage target-date funds for two defined contribution plans.
U.K. kills contribution, transfer restrictions for NEST
trueParticipants in the National Employment Savings Trust, London, will not be forced to comply with a cap on contributions and also will be permitted to transfer existing retirement savings into the plan, beginning in April 2017.
New Mexico Deferred Comp swaps equity funds
trueNew Mexico Public Employees Retirement Association made changes to the investment lineup of the $485 million State of New Mexico Deferred Compensation Plan.
Dassault Systemes makes changes to DC plan lineup
trueDassault Systemes Americas Corp. added three investment options to its 401(k) plan.
CalSTRS sticks with Meridian as consultant for DC plans
trueCalSTRS rehired Meridian Wealth Management as an investment consultant to its 403(b) and 457 plans.
Nestle USA switches brokerage window provider
trueNestle USA Inc. added a self-directed brokerage window provided by TD Ameritrade to its 401(k) savings plan lineup.
Trover Solutions chooses new 401(k) record keeper
trueTrover Solutions Inc. hired Standard Insurance Co. as record keeper of its 401(k) plan.
Towers Watson: Retirement plan landscape stabilizing for Fortune 500 companies
trueWhile the 15-year trend of Fortune 500 companies moving away from defined benefit plans is continuing, the rate of transition is slowing down and the retirement plan landscape is stabilizing, said a report from Towers Watson.
MassMutual Retirement Services picks head of institutional investments
trueAruna Hobbs was named senior managing director, vice president and head of institutional investments for retirement services at MassMutual Retirement Services.