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| Plan Sponsor of the Year Finalists |
| Plan Sponsor of the Year Finalists: 401(k) <$50M |
| Each year, the editors of PLANSPONSOR
magazine—the industry’s leading resource for retirement-benefits related
news—recognize plan sponsors that demonstrate leadership in providing a more
secure retirement for workers. We are pleased to announce the 2015 finalists
for our annual Plan Sponsor of the Year award in the Corporate 401(k) < $50
Million category.Read more > |
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| Benefits & Administration |
| Timken Transfers Some DB Liability to Prudential |
| The
Timken Company announced it has entered into an agreement to purchase a group
annuity from The Prudential Insurance Company of America to pay future pension
benefits for approximately 5,000 of its U.S. retirees. Prudential will begin
paying benefits to certain retirees and surviving beneficiaries in April,
starting with those who are currently receiving benefit payments from Timken’s
U.S. retirement plan.Read more > |
| A group of current and former West Virginia
public school employees has filed a lawsuit against a provider to the state’s
defined contribution (DC) retirement plan. The lawsuit claims VALIC, a part of
AIG, allegedly misled thousands of participants to invest heavily or entirely
in its low-interest-rate annuities in the early 1990s, the Charleston Gazette
reports. VALIC’s attorneys argue the company guaranteed only a 4.5% annual
return, but some employees allege they were led to believe they would receive
returns of 8% or higher.Read more > |
| Giving Millennials a Push to Save |
| A study from LearnVest, a financial wellness
program provider, suggests a look into the future could convince younger
employees to save more now. “When we look at those under 25, it may be that
we’re looking at a case of false confidence—with few current responsibilities
and without a clear notion of what’s on the horizon,” the company notes in the
study report.Read more > |
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| Products, Deals & People |
| Annette Guarisco Fildes has been appointed CEO
of the ERISA Industry Committee, succeeding interim CEO Scott Macey.Read more > |
