Deals and People | May 2nd, 2023 Former Wilmington Trust CIT Division Rebranded as Great Gray Trust After acquiring the Wilmington Trust CIT division from M&T Bank, new owners Madison Dearborn Partners opt for rebrand.
Compliance | February 22nd, 2023 Construction Company Lawsuit Targets Its Retirement Plan Providers The lawsuit filed by Martone Construction claims its retirement plan providers ignored requested investment trades and claimed that trading was...
Compliance | October 25th, 2022 Empower Hit With Managed Account Lawsuit The suit claims Empower instituted "fraudulent sales tactics" to "lure" 457 plan participants into its managed accounts.
Products | December 19th, 2019 Investment Product and Service Launches Vanguard changes manager structure of value funds, Northern Trust expands collateral management services, and Vanguard decreases expense ratios for international...
Products | November 19th, 2019 Westwood Looks to Disrupt Active Management with More ‘Sensible Fees’ The Sensible Fees pricing model is different from paying a fixed fee when the outcome is uncertain.
Products | September 5th, 2019 Investment Product and Service Launches John Hancock announces second round of reduced fees, and Voya Financial releases new TDF solution.
Compliance | August 27th, 2019 Lawsuit Over TDFs Names Provider as Defendant Participants in the CHS/Community Health Systems, Inc. Retirement Savings Plan have filed a lawsuit against the company, its retirement plan...
Compliance | July 24th, 2019 Maryland State Pension Now Required to Report Carried Interest on Assets The new bill, combined with existing state law, means the State Retirement and Pension System must now report all fees...
Products | June 5th, 2019 Fidelity Takes on Vanguard With Fee Reductions Fidelity investments is announcing a 14% price reduction on its target-date funds (TDFs), resulting in most of those funds having...
Products | August 3rd, 2018 Fidelity Index Fund Fee Cuts Reflect New Industry Realities An announcement this week that Fidelity is launching retail mutual funds with management expense ratios of zero basis points shows...
Compliance | February 1st, 2018 Oracle Excessive Fee Suit Gets Class Certification However, a federal judge certified subclasses on the imprudent investment claims because class representatives were not all invested in the...
Participants | November 15th, 2017 Participants Say More Information About Plan Investment Fees Would Be Useful Roughly four in five retirement plan participants said it would be at least somewhat useful to have additional information about...
Compliance | September 28th, 2017 General Electric Charged With Self-Dealing in 401(k) 401(k) participants claim GE retained underperforming proprietary funds in the plan so that its asset management arm could earn significant...
Compliance | September 22nd, 2017 Case Against University of Pennsylvania 403(b) Plan Dismissed A federal court judge basically found many of the allegations stated normal business practices and the plaintiff did not offer...
Compliance | September 13th, 2017 SEC Secures Fee Rebates for Faith-Based 403(b) Plan Sponsors The SEC says Envoy Securities received at least $24,893.26 in 12b-1 fees in connection with investments in higher-fee share classes.