Administration

Administration | April 22nd, 2010

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...

Administration | April 22nd, 2010

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.

Administration | April 22nd, 2010

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...

Administration | April 21st, 2010

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.

Administration | April 20th, 2010

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...

Administration | April 20th, 2010

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...

Administration | April 20th, 2010

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.

Administration | April 19th, 2010

Feds File Appeal in SDCERS Pension Case

April 19, 2010 (PLANSPONSOR.com) – San Diego pension officials aren’t out of the woods yet.

Administration | April 16th, 2010

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...

Administration | April 16th, 2010

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...

Administration | April 16th, 2010

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...

Administration | April 16th, 2010

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...

Administration | April 16th, 2010

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...

Administration | April 15th, 2010

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...

Administration | April 15th, 2010

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...

Administration | April 14th, 2010

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...

Administration | April 14th, 2010

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.

Administration | April 13th, 2010

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)...

Administration | April 13th, 2010

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...

Administration | April 12th, 2010

MD Teachers’ Pension Cost Shift Takes a Different Road

April 12, 2010 (PLANSPONSOR.com) – Maryland state lawmakers reached a budget compromise that would avoid shifting hundreds of millions of dollars in teacher pension payments to local governments.