ERISA Lawsuit Challenging CenturyLink Fund Choices Dismissed
The decision emphasizes that the use of hindsight to judge the prudence of fiduciaries’ investment decisions is impermissible under ERISA.
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Investment Product and Service Launches
Vanguard modifies managed payout fund; Transamerica launches stable value option for 403(b)s; Fidelity announces health savings mutual funds; and more.
Parties In Suit About Estee Lauder 401(k) Account Data Breach Announce Settlement
Details of the settlement in the first case of its kind to call into question the cybersecurity defenses a plan sponsor and its providers had in place for...
Reasons NOT to Offload DB Plans
Before following the crowd, DB plan sponsors should look at the cost to maintain their plan relative to the company’s financial situation—and look at its value to employees.
DOL, PBGC Announce Searchable Guidance Databases
Each database contains, or links to, all the agency’s guidance documents and provides certain information about them.
Coronavirus Fears Lead to Spike in 401(k) Trades
The last week of the month was among the busiest stretches in the 20 year-plus history of the Alight Solutions 401(k) Index.
Lower-Income Workers May Be More Retirement Ready Than They Think
Low-income workers do not need to save much because Social Security may be adequate, a study suggests.
Class Action ERISA Fiduciary Breach Lawsuit Targets Evonik
Similar to the plethora of ERISA excessive fee fiduciary breach lawsuits that have been filed in recent years, this one suggests the plan failed to use its bargaining...
Serving Up Target-Risk Strategies for ‘Forgotten Participants’
The main reason target-risk gave way to target-date is not that target-risk strategies are inherently inferior; instead, target-date funds have benefited from the added perceived simplicity.
DOL Announces Know Your Fiduciary Responsibilities Webcast Series
Contents of the DOL’s Getting It Right – Know Your Fiduciary Responsibilities seminar will be presented via three different webcast sessions.
Former Pension Fund Trustee to Pay $462K for Embezzlement
The trustee embezzled approximately $186,123.93 from the plan, as well as knowingly and willingly failed to file a required annual report for the CMG pension plan.
What to Know About DB Plan Administration
Plan sponsors should understand the components of administration, the interplay of providers and on what duties sources say sponsors are falling behind.
Average Account Balance a Key Driver of 401(k) Plan Costs
In a comparison of the average costs of two 401(k) plans with the same total assets, data from the most recent 401k Averages Book showed plans with larger...
Self-Dealing ERISA Challenge Targets John Hancock
“Defendant has not acted in the best interest of the plan and its participants,” the complaint states. “Instead, defendant used the plan—one of the largest 401(k) plans in...
Fees Significantly Vary Performance for Public DB Private Equity Investors
A report from Stanford University and Harvard Business School researchers provides food for thought about fee negotiations with private equity investment providers.
Retirement Industry People Moves
Former Pentegra SVP launches expert firm focused on group retirement plans; OneAmerica names senior director of participant experience; Barber rejoins Franklin Templeton to head municipal bond team; and...
Oracle Agrees to Settle ERISA Lawsuit
A non-monetary component of the settlement requires Oracle to instruct its 401(k) plan recordkeeper to not solicit participants for cross-selling products and services.
Retirement Plan Financial Audit Processes Are Evolving
New processes and systems can cut costs for plan sponsors, streamline the work and allow for any discrepancies to be caught earlier.
Uncertainty Remains After Supreme Court’s Intel Ruling
Sources debate whether electronic delivery of retirement plan disclosures could blunt some of the impact of the Supreme Court’s ruling in Intel vs. Sulyma.
Don’t Let Participant Retirement Accounts Suffer From the Coronavirus
Though large, the market volatility caused by the coronavirus is no different than those from other events, and some analysts say the market was headed for a correction...