Federated Says Money Market Fee Waivers to Stay
April 23, 2010 (PLANSPONSOR.com) – Federated Investors, the third-largest U.S. manager of money market funds, announced that it expects to continue waiving some fees for the rest of...
Administration
SEC Charges Money Manager with Defrauding Detroit Pension Funds
April 22, 2010 (PLANSPONSOR.com) - The Securities and Exchange Commission has charged a private equity firm, a money manager, and his friend with participating in a fraudulent scheme...
Ex-CEO of KB Home Convicted on Charges Related to Options Backdating
April 22, 2010 (PLANSPONSOR.com) - A federal jury on Wednesday found the former chief executive officer of KB Home guilty of four charges relating to stock options backdating.
NY Times Takes Charge for Health Care Reform Benefit Tax Changes
April 22, 2010 (PLANSPONSOR.com) – The New York Times company has joined other major U.S. employers in taking a one-time accounting charge to reflect the effects of the...
DC Consultants Say Custom Target-date Funds Keep Growing
April 21, 2010 (PLANSPONSOR.com) – A new PIMCO survey of defined contribution consultants finds the trend of clients requesting custom target-date funds continues to grow.
Corporate Plans See Slight Improvement in 2009
April 20, 2010 (PLANSPONSOR.com) – The aggregate funding ratio for corporate pension plans increased from 80.2% to 83.4% and the -$217.9 billion deficit at the beginning of 2009...
Schwab to Pay $200M in Bond Fund Suit Settlement
April 20, 2010 (PLANSPONSOR.com) – Charles Schwab Corporation has agreed to pay $200 million to settle federal securities law claims in a civil class action lawsuit related to...
UK Insurance Giant to Close Pension Schemes
April 20, 2010 (PLANSPONSOR.com) – UK insurance giant Aviva has announced plans to close its final salary pension schemes.
Feds File Appeal in SDCERS Pension Case
April 19, 2010 (PLANSPONSOR.com) – San Diego pension officials aren’t out of the woods yet.
SEC Charges Quadrangle for Kickback Scheme Involving NY Pension Fund
April 16, 2010 (PLANSPONSOR.com) - The Securities and Exchange Commission has charged Quadrangle Group LLC and one of its affiliated entities for participating in a widespread kickback scheme...
SocGen Asks for Kerviel Suit Dismissal
April 16, 2010 (PLANSPONSOR.com) – French bank Societe Generale has asked a U.S. federal judge to throw out a shareholder lawsuit led by a pension fund accusing it...
MetLife Agrees to $13.5M Settlement of Improper Payments Charges
April 16, 2010 (PLANSPONSOR.com) –U.S. Attorney Karen P. Hewitt has announced that the Metropolitan Life Insurance Company (MetLife) will pay $13.5 million to the federal government to settle...
FSA Fines London Firm for Poor Pension Switching Advice
April 16, 2010 (PLANSPONSOR.com) – Following a review of advice given by independent financial advisers to UK pension participants on switching from a personal pension plan to a self-invested...
PPG Reports $85M Health Care-Related Charge
April 16, 2010 (PLANSPONSOR.com) - PPG Industries Inc, a Pittsburgh-based company which makes glass, paints and coatings for a variety of applications, took an $85 million charge in...
N.Y. Pension Checks’ Delivery Slowed by Sorting Snafu
April 15, 2010 (PLANSPONSOR.com) – A U.S. Postal Service investigation has found that 60,000 New York state pension checks were mistakenly put in with bulk mail rather than...
Cuomo Garners Five Pension Probe Settlements
April 15, 2010 (PLANSPONSOR.com) – New York state Attorney General Andrew Cuomo announced Thursday that his office has reached settlement agreements with two investment firms and three unlicensed...
MD Retirees' COLA Negative for 2011
April 14, 2010 (PLANSPONSOR.com) – Maryland Governor Martin O’Malley has signed into law legislation that precludes an unprecedented negative cost of living adjustment (COLA) for state retirees and...
Towers Pension Index Has 3.8% March Showing
April 14, 2010 (PLANSPONSOR.com) – The Towers Watson Pension Index recorded a 3.8% return for March, according to the company.
Canadian Sponsors Moving on Funding Concerns
April 13, 2010 (PLANSPONSOR.com) – A majority of Canadian employers are taking substantive steps to mitigate the effects of the ongoing funding crisis facing their defined benefit (DB)...
U.K. Pension Contributions Fall in 2008
April 13, 2010 (PLANSPONSOR.com) –The first annual fall in contributions to funded pension schemes to be recorded by the U.K. Office for National Statistics (ONS) reflects funding plans...