Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
January 16th, 2015
Benefits & Administration
A New Landscape of TDFs in Retirement Plans
According to the 2015 Defined Contribution (DC) Trends Survey by the Callan Investments Institute, about one in 10 plan sponsors replaced their target-date fund/balanced fund manager in 2014, and the proportion of plans that offer their recordkeeper’s proprietary TDF declined precipitously, from 47.5% in 2013, to 28.7% in 2014. Plan sponsors expect this number will decrease even further in 2015 (to 23.6%). Lori Lucas, executive vice president and Defined Contribution Practice leader at Callan Associates in Chicago, said the change in the TDF landscape was what stood out to her in the survey findings. “I was not surprised by the change away from recordkeeper’s proprietary funds, but was surprised by how many DC plans are using custom target-date funds,” she tells PLANSPONSOR.Read more >
2015 Advisers' Choice Award Winners
PLANADVISER announced the winners of the second annual Advisers’ Choice Awards, to be handed out at its annual PLANSPONSOR/PLANADVISER Awards for Excellence dinner, to be held March 31 at Pier 60 of the Chelsea Piers in New York City. Nine firms will be honored for their high-ranking performance in four of distinct categories, taken from the eighth annual PLANADVISER Retirement Plan Adviser Survey. More than 600 retirement plan advisers participated in the survey and entered their preferred fund families, investment firms and defined contribution (DC) providers, as well as the mutual funds they most often recommended to their defined contribution plan clients.Read more >
Former California Public Employees Retirement System (CalPERS) Board member Alfred R. Villalobos has died just a month before he was to go on trial for a bribery and fraud scheme relating to pension fund investments. Police said they received a call from a Nevada gun club that there was “a possible suicidal person” there, and when they arrived, they found Villalobos dead from a gunshot wound, according to the Associated Press. Police are investigating, but said it was “apparently self-inflicted.” However, Villalobos’ attorney, Bruce Funk, maintained that Villalobos’ death was connected to his “protracted and painful illness,” not the upcoming trial.Read more >