Defined contribution plans
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Killeen school district keeps Kazdon as 403(b) administrator
trueKilleen (Texas) Independent School District rehired Kazdon as third-party administrator for its 403(b) plan.
Illinois deferred comp plan drops Lord Abbett for large-cap equity
trueIllinois State Employees' Deferred Compensation Plan, Springfield, terminated Lord Abbett & Co., which manages a $147 million active U.S. large-cap core equity portfolio, effective Sept. 1, said William R. Atwood, executive director of the Illinois State Board of Investment, fiduciary of the plan.
Nominations now open for Lillywhite Award
trueNominations are open for the 2014 Lillywhite Award, said Dallas Salisbury, president and CEO of the Employee Benefit Research Institute.
NEST adds 2 emerging markets equity managers
trueNational Employment Savings Trust hired HSBC Global Asset Management (U.K.) and Northern Trust Asset Management to run emerging markets equity allocations, in its first exposure to alternative indexing.
Coweta County taps BB&T as consultant
trueCoweta County, Newnan, Ga., hired BB&T Corp. as investment consultant for its defined benefit plan and two defined contribution plans.
Q2 2014 searches and hires overview report
trueSearch activity for the second quarter of 2014 decreased more than 17% from the prior quarter but increased almost 8% from the second quarter of 2013. Among the largest, New York City Retirement Systems is looking for an inflation-linked fixed-income manager or managers to manage $4 billion to $5 ...
Massachusetts 457 plan seeks investment, glidepath oversight consultant
trueMassachusetts Deferred Compensation SMART Plan is searching for one or more firms to provide investment consultant and glidepath oversight services for the $6.8 billion 457 plan.
Wyoming Retirement System rounds up R.V. Kuhns as consultant
trueWyoming Retirement System hired R.V. Kuhns as investment consultant for its $498 million 457 plan.
GAO urges Form 5500 improvements
trueFederal pension regulators could do more to improve the reporting of investment and fee information on Form 5500, the Government Accountability Office said in a report issued Monday.
Challenge of income adequacy perplexes execs
truePension plan designers around the world are tackling the challenge of retirement income adequacy with varying degrees of success, said speakers at Pensions & Investments' inaugural Investment Innovation and the Global Future of Retirement conference in New York.
States should step in to offer retirement options
trueBarbara Williams is a former aerospace worker in California who lost her piece of the American dream when that industry downsized. She lost her job, benefits and hope for a dignified retirement.
Education secretary pushes need for financial literacy
trueFinancial literacy needs to be a staple of the American education system, U.S. Secretary of Education Arne Duncan said at Pensions & Investments' Investment Innovation and the Global Future of Retirement conference.
Court backs efficient market
trueThe U.S. Supreme Court made the right decision when it rejected a presumption of prudence as a defense in company stock-drop cases, replacing it with a presumption of market efficiency.
Integra chooses Prudential as record keeper
trueIntegra Inc. hired Prudential Financial as record keeper of its $65 million 401(k) plan.
Lockheed Martin to freeze pension plan in 2016
trueLockheed Martin Corp., Bethesda, Md., will freeze its defined benefit pension plan in early 2016 and start shifting active salaried workers to an enhanced defined contribution program, the company announced Tuesday.