The Treasury Department and IRS have issued Notice 2006-107 providing transition guidance on the provision of the Pension Protection Act of 2006 (PPA) relating to diversification rights of plan participants and beneficiaries who have accounts held in publicly traded employer securities.
U.S. Bank Institutional Trust&Custody has agreed to sell its bundled 401(k) plan business to Great-West Retirement Services, but is keeping its defined benefit business.
Morningstar, Inc., announced Wednesday it will collect net returns, in addition to the gross returns, for its collective investment trusts and will provide monthly rankings and Morningstar Ratings against a peer group of mutual funds.
BISYS has announced additions to its retirement plan services that provide education, advice and additional reporting to participants.
The Treasury Department and the Internal Revenue Service (IRS) have issued Notice 2006-100 providing guidance to executive compensation plan sponsors and participants on how to report certain amounts deferred from executive compensation on Forms W-2 or 1009-MISC for calendar years 2005 and 2006.
Assets of US mutual funds continued their upward march in October, adding $286.6 billion, or 2.9%, to total over $10 trillion, according to the Investment Company Institute's (ICI) official fund industry survey.
A recent study has found that lesbian, gay, bisexual and transgender (LGBT) baby boomers have more concerns about long-term care in retirement than the general population.
A white paper released by National Retirement Partners, LLC and The Baker Companies discusses how the American Jobs Creation Act of 2004 (AJCA) and the Pension Protection Act of 2006 (PPA) have clarified administration and funding questions for sponsors of non-qualified benefit plans.
Seventy-three percent of plan participants surveyed said they are not overly confident in their investing abilities, according to The Scarborough Group, provider of investment advice and allocation management for 401(k) plan participants.
State Street Corporation has announced enhancements to its suite of compliance offerings that was created in response to Securities and Exchange Commission (SEC) Rule 38a-1 which became effective in October 2004.
The US District Court for the Northern District of Ohio ruled that claims alleging a fiduciary breach by a retirement plan trustee must seek recovery for such breach on behalf of the plan as a whole, and not individual participant accounts.
The total combined assets of the nation's exchange-traded funds (ETFs) shot up 9.4% to $383.3 billion in October, according to an Investment Company Institute (ICI) news release.
Payroll and retirement plan outsourcing firm PAi has announced a partnership to provide administration for the Oppenheimer Funds, Inc. Genesis 401(k) start-up program.
HedgeOp Compliance LLC has announced the launch of its updated ComplianceTrak software system.
SaveDaily.com Incorporated has announced the creation of an automated, online 401(k) program for real estate professionals.
Legg Mason has announced it will offer "R" shares for 11 of its mutual funds, effective December 1, 2006.
A Florida Sheriff’s Department has sued Nationwide Life Insurance Co., over allegations Nationwide’s retirement plan fees unfairly allowed the company to make a profit through a revenue sharing arrangement.
Charles Schwab Corporation has announced an agreement to sell U.S. Trust, its wealth management subsidiary, to Bank of America for $3.3 billion in cash.
Baby Boomers may not have been the best role models when it comes to retirement savings, and the overwhelming majority recognizes that and wishes they had done better.
Nationwide Financial Services, Inc. has introduced a new program designed for defined contribution plans with fewer than $10 million in assets.