World’s Largest Coal Company Faces ERISA Suit |
Peabody Energy Corporation is facing a class action lawsuit alleging the company violated ERISA rules by continuing to offer company stock as an investment in several defined contribution plans. The allegations resemble other “stock drop” suits, which claim plan administrators should have removed the company’s stock from the plans as its trading price tumbled.
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Re-enrollments Remain a Poorly Leveraged Plan Booster |
More than one-quarter of respondents to J.P. Morgan Asset Management’s 2015 Defined Contribution Plan Sponsor Survey said they have considered a re-enrollment but did not pull the trigger. Discussing the survey with PLANADVISER, one J.P. Morgan executive says much of the hesitancy results from poor understanding of how to plan and enact the re-enrollment effort.
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Report Compares Robo-Adviser Brands |
A new Hearts & Wallets study “assesses the robo phenomenon through the prism of trend-setting Millennials,” comparing robo-adviser brands as perceived by younger investors. They may control a small portion of the total $41 trillion of investable assets in the U.S., but younger consumer preferences will have an outsized impact on financial services as firms race to respond to new trends, the study finds.
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Oregon Legislature Approves State-Run Retirement Plan |
The Oregon Senate has given final approval to a bill that would allow private-sector employees without an employer-sponsored retirement plan to join a state-sponsored plan. The bill now goes to Governor Kate Brown, whose signature will create a board within the Oregon State Treasury tasked with developing a plan option similar to an individual retirement account.
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