A jury awarded plaintiffs in the case, Khan et al. v. Board of Directors of Pentegra Defined Contribution Plan et al, more than $38 million in April, following a week-long jury trial.
The FY 2026 budget bill includes the provision creating the Massachusetts Secure Choice program.
Originally filed in 2021, the lawsuit alleges the company violated ERISA by retaining target-date funds that were high cost and underperformed their benchmarks.
The partnerships allow advisers to keep financial plans updated without manual data entry.
The first model portfolio, now available, is the Cetera Blended Alternatives Model – Moderate, which includes six alternative funds with exposure to private equity, private credit, and private real estate investments.
The former assistant secretary of EBSA will work alongside recordkeepers, retirement plan advisers, plan sponsors and participants on key policy initiatives.
The judge ruled that the defendants had not breached their fiduciary duty by acting in their own interests, following a two-week bench trial.
Three in four benefits-eligible workers expressed interest in support and guidance tools to help them understand how much to set aside for retirement, emergency savings and health care expenses.
Despite most plan sponsors feeling a strong responsibility for employees’ financial well-being, programs such as emergency savings, student loan repayment assistance and management assistance remain under-implemented, according to J.P. Morgan.
BlackRock’s glidepath will power Great Gray Trust Company’s new retirement solution with access to private markets.
Jeff Hobbs, Voya IM’s head of insurance portfolio management, will succeed Stein as CIO of fixed income.
The company wants to be a “partner of choice” for retirement plan advisers working with small and mid-sized retirement plans.
