Administration

Proposed Settlement in Kmart Company Stock Suit

November 29, 2005 (PLANSPONSOR.com) - A proposed settlement has been reached in a lawsuit against Kmart executives which claims they breached their fiduciary duties by holding on to company stock as a retirement plan investment.

Report: FASB to Name Investor Advisory Task Force

September 29, 2005 (PLANSPONSOR.com) - The nation's accounting standards organization is organizing an investor task force to give it a ready-made industry focus group so it can issue new accounting regulations more expeditiously, according to a news report.

Spitzer's Seligman Investigation Advances

September 29, 2005 (PLANSPONSOR.com) - The office of New York Attorney General Eliot Spitzer has announced that legal proceedings have begun on its investigation of illegal trading practices at J & W Seligman & Company.

Study: Little Thought Bent Toward Retirement

August 17, 2006 (PLANSPONSOR.com) - Many of the participants in a focus group of retirees have not done the math to gauge how much they actually need to retire, most assuming they will be able to scale back their resources and still lead a comfortable life, a recent study found.

USAir, PBGC Unveil Deal for Pension Claims

August 29, 2005 (PLANSPONSOR.com) - Financially struggling US Airways has hammered out a deal with the nation's private-sector pension insurer that should resolve the insurer's nearly $2.7 billion claims on the airline's bankruptcy estate.

3 Pacific Corporate Group Execs Form New PE Firm

May 7, 2007 (PLANSPONSOR.com) - Three private equity executives have formed a new firm, Leucadia Capital Partners LLC (LCP), to provide customized private equity investment management and advisory services to institutional investors.

HSBC Exits 401(k) Biz

May 7, 2007 (PLANSPONSOR.com) - HSBC Bank USA N.A. has notified customers that it will cease providing 401(k) services by year's end.

Study Finds Options Backdating a Common Practice

July 17, 2006 (PLANSPONSOR.com) - A new analysis released by the University of Iowa estimates that 29.2% of companies have backdated options and also tabulated that 13.6% of options granted to top executives from 1996 to 2005 were backdated or otherwise manipulated.

CalSTRS Supports Sudan Divestment Bill

July 17, 2006 (PLANSPONSOR.com) - The California Teachers' Retirement System board voted to support a state Assembly bill to encourage the divestment from companies that do business in the Sudan.