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High Court Lets Monsanto Cash Balance Ruling Stand
The U.S. Supreme Court rejected a request to review a decision by an appellate court that a cash balance pension plan that cut off interest credits of participants...
Brightscope Hones in on 403(b)s
Plan ratings provider BrightScope has widened its focus, and now has incorporated 403(b) plan data into the BrightScope Rating system.
Putnam Develops Income Solution with an "Absolute" Focus
Putnam Investments announced plans to offer a suite of income-oriented funds that aim to help Boomers and retirees develop strategies based on their risk tolerance.
Newport Opens New Office
The Newport Group opened a client service center in Dallas to support its growing deferred compensation and executive benefits business services.
Genders Similar When It Comes to Retirement Savings
The Employee Benefit Research Institute (EBRI) found men and women are equally likely to say they (and/or their spouse) have saved for retirement or are currently saving for...
DC Accounts Grew Despite Recession
Vanguard research shows that defined contribution (DC) savings for most participants continued to grow over three- and five-year periods, even during the turbulent years of 2008–2009.
HighTower Adds Florida-based Adviser Team
HighTower, a national financial services company serving high-net-worth and institutional clients, announced that Masterson, Emma & Associates will be joining the practice.
Schwab to Acquire optionsXpress
The Charles Schwab Corporation has agreed to acquire optionsXpress Holdings, Inc., an online retail brokerage firm.
Transamerica Taps Pride for Sales Post
Transamerica Retirement Services has named Corey Pride as regional vice president for the company’s Southern Region.
DoL Announces “Fiduciary Responsibilities” Webcasts
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will sponsor “Getting It Right – Know Your Fiduciary Responsibilities” Webcasts this week.
AUL Offers Multiple-Employer Plan to Smaller Companies
American United Life Insurance Company (AUL), a OneAmerica company, has introduced a multiple-employer 401(k) option for small- to mid-sized employers.
Court Does Not See Breach of Fiduciary Duty
The U.S. District Court of Nevada used the "Moench" standard when it dismissed a claim that International Game Technology breached its fiduciary duty of prudence.
BCG To Offer Stadion as Investment Choice
Benefit Consultants Group (BCG), a Delran, New Jersey-based plan provider, is adding Stadion Money Management to its lineup.
Optimism the Only Connection, Survey Finds
MFS Investment Management's Investing Sentiment Survey found several disconnects between what advisers think investors feel, and what investors are actually feeling.
“CustomConsultant” to Help Illuminate Plan Risks
The Hartford Financial Services Group is introducing a service to help advisers identify potential risks associated with retirement plans and educate plan sponsors on how to eliminate those...
SunTrust Served with 401(k) Suit
A retiree has sued SunTrust Banks, alleging that it favored investment plans operated by SunTrust or its subsidiaries that performed poorly and charged higher fees than plans offered...
IMHO: Court Costs
Last week brought to light an aspect of 401(k) litigation that doesn’t generally get a lot of coverage—and the participant-plaintiff was presented with a $50,000...
Possible Losses from SecLending Not Clear, GAO Says
In testimony at a Senate committee hearing, the Government Accountability Office (GAO) said that 401(k) plan participants can receive part of the profits from securities lending, but would...
Senate Panel Probes DC SecLending Practices
The Senate Special Committee on Aging held a hearing this week titled, "Securities Lending in Retirement Plans: Why the Banks Win, Even When You Lose."
ASPPA Reiterates Support for DoL Fiduciary Definition Proposal
Stating that previous media reports on its position were unclear, the American Society of Pension Professionals & Actuaries (ASPPA) insists it and its affiliated organizations “strongly support” redefining...