Tag: retirement plan investing
In addition to a more than $13 million payment, Franklin has agreed to select a non-proprietary target-date fund (TDF) for its 401(k) plan’s investment lineup and increase company match contributions for three years.
Speakers on a PGIM Fixed Income webcast offered practical steps pension plan sponsors can take today and over time to protect funding levels; they suggested liability-driven investing is a smart way to “get off the funded-status rollercoaster.”
A judge found the plaintiff in the lawsuit was bound by a prior settlement agreement and that MassMutual did not violate that settlement agreement.
Long-term 401(k) participation, savings and investing trends have also been positive, due in no small part to automatic plan features, according to a report from Fidelity Investments.
According to the lawsuit, Stadion directed participants’ accounts into investments that would better benefit itself and Mutual of Omaha, and Mutual of Omaha retained revenue sharing knowing of Stadion’s actions.
Based on the ERISApedia.com Market-Based Portfolio Model, the optimal number of investment categories is between 12 and 20.
In addition to asking the high court to weigh in on whether the plaintiff or the defendant bears the burden of proof on loss causation under ERISA, Putnam asked the court to determine whether showing that particular investment options did not perform as well as a set of index funds selected by the plaintiffs with the benefit of hindsight, suffices as a matter of law to establish “losses to the plan.”
Callan’s 2019 Defined Contribution (DC) Trends Survey finds more plan sponsors have conducted fee benchmarking, there’s a shift in who is paying fees and trends regarding revenue sharing have changed.
Among other things, the consulting firm says investment committees should have stated goals, and retirement plan investment lineups should meet the needs of different types of investors.
American Beacon Advisors creates mutual fund with multi-asset program, and Vanguard closes million-dollar securities fund to new clients.
The lawsuit claims the Kentucky Retirement Systems (KRS) lost money on more than $1.5 billion in hedge fund investments in recent years, although its own advisers privately urged it to stay away from the risky investments.
Asked about what Putnam has seen develop this year in terms of environmental, social and governance investing programs, and about how “ESG” fits into the discussion of active and passive management, Putnam Investments CEO Bob Reynolds had a lot to say.
Details of the settlement agreement are forthcoming.
The 9th U.S. Circuit Court of Appeals found that the facts alleged are insufficient to support a plausible inference of breach of the duty of loyalty, breach of the duty of prudence, or that a prohibited transaction took place.
Northern Trust purchases FX software provider; Nuveen incorporates ESG funds to fixed-income lineup and Nuveen launches quantitative strategies affiliate.
In addition to a large payment to participants, the firm agreed to have an independent investment adviser assist in making decisions about the plan and its investments for at least three years.
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