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Impact of GASB's new pension rules on government bond ratings
trueFor many public sector retirement plan sponsors, the Governmental Accounting Standards Board's new pension reporting rules couldn't have come at a worse time. The changes, effective June 15 and encapsulated in GASB Statements 67 and 68, mandate that governmental balance sheets reflect unfunded ...
CalSTRS staff backs hiring ING as DC plan record keeper
trueCalSTRS' staff is recommending the hiring of ING Investment Management as a third-party administrator and record keeper for the CalSTRS' 403(b) and 457(b) supplementary saving programs.
ING U.S. files with SEC to reduce ownership stake of parent
trueING U.S. filed a follow-on offering with the SEC Monday to further reduce parent ING Group's 57% ownership stake in the firm.
Nomura Asset Management will buy ING's Taiwan money management business
trueNomura Asset Management Co. is partnering with a group of investors to buy ING Group's Taiwanese money manager business, ING Securities Investment and Trust Co. Ltd., Taiwan, according to a Nomura news release.
Michigan rehires administrator of 401(k), 457 plans
trueMichigan Office of Retirement Services, Lansing, rehired incumbent ING U.S. Retirement Solutions as the third-party bundled administrator for the state's public employee $4.3 billion 401(k) plan and $1.8 billion 457 plan.
Kohler sinks 401(k) assets into 2 new options
trueKohler Co., Kohler, Wis., is adding the Fidelity Small Cap Discovery Fund and the Oakmark International Collective Fund as investment options in its 401(k) plan.
Louisiana Teachers gives gold stars to ING, LSV
trueLouisiana Teachers' Retirement System hired ING U.S. Investment Management to run $175 million in active domestic midcap growth equities and rehired LSV Asset Management to run about $850 million in active domestic large-cap value equities.
Lawsuit accusing ING unit of pay-to-play scheme gets green light
trueA federal judge in Connecticut has denied ING U.S.' request for summary judgment, thus enabling a case to go to trial that claims a unit of the company breached its fiduciary duty as a service provider.
ING U.S. Investment Management names institutional distribution leader
trueBas NieuweWeme was named managing director and head of institutional distribution at ING U.S. Investment Management.
Learning lessons from her family
trueMaliz Beams got an early education on the importance of saving and she is applying that experience in her role as CEO of ING U.S. Retirement Solutions
ADP subsidiary picks ING as record keeper
trueADP TotalSource Group Inc., Roseland, N.J., hired ING U.S. Retirement Services as record keeper for the ADP TotalSource Retirement Savings Plan, confirmed Jim Duffy, senior director, corporate communications.
Macquarie to acquire ING Investment Management Korea
trueMacquarie Group will acquire ING Investment Management Korea, ING's South Korean money management business, according to news releases on Macquarie's and ING's websites.
Hawaii Deferred Comp taps Prudential for administration
trueHawaii Deferred Compensation Fund, Honolulu, hired Prudential Financial as third-party administrator for its $1.5 billion 457 plan.
New risk management tools for a post-financial crisis era
trueInstitutional investors are reaching out for new risk management tools to address shortcomings in estimating risks that left them more exposed to losses in the financial market crisis than they expected.
Will giant TXU LBO become a distressed debt deal?
trueEnergy Future Holdings Corp., the company formerly known as TXU Corp., is morphing from the largest LBO ever to what could be an enormous distressed debt buying opportunity.