Tag: retirement plan investments
MassMutual introduces new TDFs, and Krane Funds Advisors creates CIT for retirement plans.
According to the complaint, the defendants removed a large number of established funds in the plan that were performing well (at Hewitt’s urging), and replaced them with an unproven set of newly-launched funds from Hewitt that have consistently underperformed.
DC plan consultants surveyed by PIMCO offer suggestions for helping retirees with income, core investment menu design and other DC plan features.
The defendants argued that a court decision in a self-dealing lawsuit against Wells Fargo supports their motion to dismiss their suit.
The lawsuit alleges that Gannett Co., its benefit plans committee and other fiduciaries’ decision to concentrate plan investments in Gannett’s parent company common stock was a breach of their fiduciary duties under ERISA and caused a loss of approximately $135 million.
Hartford Funds lowers fees for six ETFs; oekom research joins ISS, renames brand; T. Rowe Price releases multi-strategy fund; and more.
U.S. Fiduciary Services and three of its subsidiaries agreed to provide payment of more than $7 million to 42 retirement plans.
They like the tax advantages, investment opportunities and investor control that 401(k)s and other DC plans offer them, ICI finds.
BCG adds 401(k) managed account from Stadion to recordkeeping platform; Mercer partners with Investment Metrics for client reporting; BCM TDF series to offer protection within uncertainty; and more.
However, a federal judge certified subclasses on the imprudent investment claims because class representatives were not all invested in the 401(k) funds challenged.
The complaint alleges fiduciaries of Mutual of Omaha’s 401(k) plan violated their fiduciary duties by selecting numerous investment options because they paid fees to Mutual of Omaha or its subsidiaries.
The firm’s lawyers noted that the plaintiff signed an agreement not to pursue any class action claims, but a Supreme Court case allowed him to pursue a claim on behalf of himself.
The plaintiffs claim plan fiduciaries repeatedly failed to monitor the share classes of mutual fund investments and to substitute less expensive share classes of mutual funds for more expensive ones.
State Street Global Advisors reveals latest SPDR ETFs, and Charles Schwab announces addition of 12 ETFs to OneSource.
An analysis from Mayer Brown LLP attorneys offers helpful guidance for retirement plan fiduciaries thinking about making changes to their stable value or money market funds in 2018.
Similar to many excessive fee lawsuits filed against single-employer plans, the complaint accuses a multiemployer plan of failing to leverage its bargaining power to obtain lower investment and recordkeeping fees.
Before certifying a class in the litigation, a federal judge determined that the named plaintiffs need not have invested in all funds challenged in the suit in order to represent 401(k) participants that invested in the funds.
In the new complaint, participants attempt to offer more evidence for claims that were dismissed in another pending lawsuit.