Compliance | June 16th, 2023 Lawsuit Targets California Medical Center 403(b) Plan A former employee of Cedars-Sinai Medical Center alleges onerous plan fees and under-performing funds.
Benefits | June 15th, 2023 Participation Rates in 401(k) Plans Reach All-Time High Plan sponsors have driven plan participation in the last 15 years to a record high in 2022, Vanguard reports.
Deals and People | June 13th, 2023 TIAA Creates Lifetime Income Distribution Position TIAA promoted internally to a new position, reporting to the head of consultant relations, according to a June 13 memo....
Compliance | June 12th, 2023 Legal Complaint Targets Pfizer 401(k) Plan Committee, Board The class action proposal seeks to recover retirement plan losses allegedly caused by fiduciary breaches leading to ‘unreasonable’ fees.
Data and Research | June 12th, 2023 Retirement Plan Access Deficit Could Cost Fed, States $1.3 Trillion The lack of access for private sector workers to a retirement savings plan is likely to cost the federal government...
Deals and People | June 12th, 2023 Retirement Industry People Moves Mercer names Somers as investment director; new chief commercial officer at Alight Inc.; Voya selects leader for Midwest wealth solutions...
Compliance | June 7th, 2023 Financial Services Company CoreLogic Targeted in ERISA Suit The lawsuit seeks to recover retirement plan losses due to alleged mismanagement of CoreLogic’s 401(k) retirement plan.
Data and Research | May 25th, 2023 Millennials Retirement Readiness Fell the Most From 2020 Average retirement account balances increased by 5% from last quarter, in positive movements.
Deals and People | May 24th, 2023 Cambridge Associates Names New President, Head of Investing Samantha Davidson will arrive from Mercer to take the reins in July, as Noel O’Neill moves into a new investment...
Data and Research | May 23rd, 2023 Finance, Health Care Workers Are Top Retirement Contributors Workers employed in finance and health care industries were responsible for contributing the bulk of defined contribution retirement plan assets...
Compliance | May 18th, 2023 Hankey Group ESOP Sued in Attempt to Capitalize on COVID-19’s Economic Effects A former ESOP participant claims fiduciaries created conditions forcing the sale of participants’ assets by attempting to take advantage of...
Compliance | May 17th, 2023 NAGDCA Asks for More Time on Roth Catch-Ups, Again Government plans will struggle to comply with SECURE 2.0 because of their administration requirements.
Benefits | May 17th, 2023 Employers View Workforce Well-Being as Key to Strategy Employers expect to return employee well-being benefits to pre-COVID levels in 2024, bringing back yoga, meditation classes, Fidelity and Business...
Compliance | May 11th, 2023 University of Vermont Medical Center Plan Sued for ERISA Breaches The university medical center’s retirement plan failed to disclose revenue sharing or float income and caused workers to pay excessive...
Data and Research | May 10th, 2023 Retirement, Broad Financial Fallout From COVID Continues A defined contribution industry survey finds lasting financial effects to retirement plan participants.
Compliance | May 9th, 2023 Aon, Schneider Electric Agree to $200,000 Settlement Many claims from 2020 complaint were dismissed, leaving settlement subject to final approval at a September fairness hearing.
Deals and People | May 9th, 2023 TIAA Goes Outside the Firm to Fill New Role New EVP Melissa Kivett arrives from Prudential to help TIAA increase focus on the corporate retirement market.
Data and Research | May 9th, 2023 Retirement Contributions, Hardship Distributions Both Increased in Q1 Despite the markets dragging down retirement account balances, a snapshot of early-2023 activity shows workers still saving.
Compliance | May 8th, 2023 DOL Sues Shuttered Arizona Computer Company Profit-Sharing Plan The Department of Labor alleges a closed computer equipment supplier and services company abandoned responsibility for its profit-sharing plan in...
Data and Research | May 4th, 2023 Auto-Enrollment Gains in Popularity Among Retirement Plan Participants An annual American Century Investments survey revealed a major increase in acceptance and expectation of employers pushing employees to save...