Hewitt Absorbs Exult
June 16, 2004 (PLANSPONSOR.com) - In a stunning announcement this morning, Human Resource Outsourcing (HRO) giants Hewitt Associates and Exult, Inc. have agreed to merge in an all-stock...
Administration
Segal: Multiemployer Plans Up 17% in 2003
June 16, 2004 (PLANSPONSOR.com) - The strong equity gains that lifted single-employer defined benefit plans in 2003 did the same for multiemployer schemes that recorded a median return...
SEC Revises Beacon Hill Complaint
June 16, 2004 (PLANSPONSOR.com) - The Securities and Exchange Commission (SEC) has revised its two-year-old civil fraud action against New Jersey hedge fund Beacon Hill Asset Management.
Study Finds More Manage Less in 2002
May 28, 2003 (PLANSPONSOR.com) - Half of the money managers registered with the Securities and Exchange Commission had fewer assets to manage this year than in 2002, according...
Minneapolis Money Manager Faces Embezzlement Charges
May 28, 2003 (PLANSPONSOR.com) - A former Minneapolis police and fire pension money manager whose speculative investments allegedly cost the plans $19 million is now facing unrelated federal...
FASB Proposes Additional Pension Disclosures
May 28, 2003 (PLANSPONSOR.com) - The Financial Accounting Standards Board (FASB) has made a preliminary decision requiring companies to offer more pension plan details - details that currently...
FASB Decides to Give Cash-Balance Changes More Thought
May 28, 2003 (PLANSPONSOR.com) - Plan sponsors spoke up - and the Financial Accounting Standards Board apparently took note, opting today to postpone a proposed change in accounting...
Victory Acquiring NewBridge
May 28, 2003 (PLANSPONSOR.com) - Victory Capital Management has announced plans to acquire New York City-based growth equity investment management firm NewBridge Partners.
MercerIC: US Equity Manager Searches Most Frequent in 2004
May 4, 2005 (PLANSPONSOR.com) - Managers to run US equity mandates were the most sought after last year among those found by Mercer Investment Consulting (MercerIC) with 90...
Mercer Issues Cash Balance Rule Change Cautions
April 16, 2004 (PLANSPONSOR.com) - Proposed accounting changes for cash balance plans could make it all the more difficult to make apple-to-apple comparisons among defined benefit offerings, a...
NYCERS Rocked By Theft, Improper Promotion Scandals
April 4, 2005 (PLANSPONSOR.com) - Two separate scandals have rocked the New York City Employee Retirement System (NYCERS), with one executive being pushed out for promoting his mistress,...
Judge Suspends E&Y for Six Months
April 16, 2004 (PLANSPONSOR.com) - Ernst & Young LLP can't take on new public companies as audit clients for six months as a result of an order by...
Providian Settles 401(k) Stock Suit
April 28, 2003 (PLANSPONSOR.com) - Credit card issuer Providian Financial Corp. has announced an $8.6 million settlement of a class-action lawsuit brought by participants in its 401(k) plan.
Fair Valuation of Foreign Securities by Third-Parties More Common in 2004
April 4, 2005 (PLANSPONSOR.com) - Mutual funds are increasingly turning to third-party vendors to do fair valuation pricing for foreign securities, a move that will likely make them...
SBC Shareholders Turn Down Executive Comp Proposal
April 28, 2003 (PLANSPONSOR.com) - Shareholders at SBC Communications Inc voted down a proposal aimed at linking executive compensation more closely to performance at the company.
Principal Financial Receives Spitzer Subpoena
March 4, 2005 (PLANSPONSOR.com) - The Principal Financial Group has announced that it has received a subpoena from New York State Attorney General Eliot Spitzer.
BofA, Fleet Come to Terms with Spitzer, SEC in Fund Probe
March 16, 2004 (PLANSPONSOR.com) - Bank of America and FleetBoston Financial yesterday agreed to pay $675 million to resolve charges that they helped favored clients trade mutual funds...
Aon Settles Bid-Rigging Charges
March 4, 2005 (PLANSPONSOR.com) - Aon Corp. has agreed to pay $190 million to end a bid-rigging investigation brought on by three states.
State Retirement Funding Gap Doubles: Wilshire
March 16, 2004 (PLANSPONSOR.com) - State retirement systems continued to struggle with slumping asset values and larger liabilities, and had twice as big a shortfall in 2003 as...
CalPERS Withholds Votes at Applied Materials Inc
March 16, 2004 (PLANSPONSOR.com)California Public Employees Retirement System (CalPERS), the largest US public pension fund, will withhold votes for four Applied Materials Inc. directors up for election March...