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New Program Designed to Protect NQDC Benefits
Corporate Compensation Plans Inc. (CCP) introduced an insurance program for nonqualified deferred compensation plan benefits.
Lockheed Fiduciaries File Suit against Northern Trust
Northern Trust faces yet another suit over its securities lending program as fiduciaries of Lockheed Martin Corp.'s defined contribution plans filed a lawsuit June 23 in the U.S....
BofA Broker Files Gender Bias Complaint
A female broker accused Bank of America (BofA) of gender bias by offering female former Merrill Lynch brokers lower retention payments than their male counterparts.
DailyAccess Buys FBD Pension, Benefits Business
DailyAccess Corporation, a Mobile, Alabama-based plan provider, has acquired the pension and group benefits business of FBD Consulting, Inc.
7th Circuit Panel Limits Ruling’s 404(c) Effects
Faced with pressure to take another look at its February 2009 decision in a widely watched 401(k) excessive fee case, a federal appellate court has turned down the...
Some Americans Increase Savings
Almost one-quarter of Americans (22%) say they have no personal savings and three in 10 (30%) have no retirement savings, according to a recent Harris Poll.
Lincoln Airport Authority Trims New Hire 401(k) Match
At a time when employers changing their 401(k) match typically focus on their existing workforce, one Nebraska employer has trimmed its match for new hires only.
Northwestern Mutual Faces Overtime Suit
Three former financial representatives of Northwestern Mutual Life Insurance Co. have filed a $200 million lawsuit against the company for failing to pay them overtime wages under California...
N.C. County Suspends 401(k) Match
Cumberland County, North Carolina, government workers will not get employer contributions to their 401(k) retirement accounts starting July 1.
Scottrade Launches New Adviser Web Platform
Scottrade Advisor Services said it introduced its Advisor Services Web platform with upgraded trading and account management resources.
Fiduciaries Might Need to Report Foreign Plan Investments
Retirement plan fiduciaries may have another acronym to worry about—FBAR—which is another name for the Report of Foreign Bank and Financial Accounts.
DoL Wins Distribution of 401(k) Assets to Former Workers
The U.S. Department of Labor has obtained a judgment in federal district court that will lead to the distribution of $164,251 in 401(k) plan assets to 14 participants.
BlackRock’s Doll: Stocks on Track to Post Double-Digit Gains
The global economy remains fragile, but the worst of the recession “is now in the rearview mirror,″ said Robert Doll, vice chairman and global chief investment officer of...
Schwab Waives Some Fees, Plans to Add Tools for RIAs
Charles Schwab announced a series of initiatives it said are designed to help independent advisers grow their businesses in today's rough environment.
MSCI Indexes Measure Effects of Currency Hedging
MSCI Inc. launched the MSCI FX Hedge Indices, designed to help institutional investors decompose and measure the impact of hedging the currency exposure of MSCI equity indexes.
Smith Barney Fails to Remove Pension Case from Court
The U.S. District Court for the Southern District of Florida declined to enforce arbitration clauses contained in account agreements between the City of Delray Beach Police and Firefighters...
First Citizens Launches Trust Services Platform via FundQuest
First Citizens Capital Management launched a FundQuest-powered platform for their wealth management business.
FINRA Fines Wachovia $1.4 Million for Prospectus Delivery
The Financial Industry Regulatory Authority (FINRA) is pegging a $1.4 million fine on Wachovia Securities for its failure to deliver prospectuses and product descriptions to customers who purchased...
Asset International Agrees to Acquire The Trade, Leading Chronicler of Buy-side Electronic Trading Space
First in a Series of Global Media Acquisitions Planned by Asset International
Combined 401(k) Fee Disclosure-Advice Bill Heads for House Floor
A closely watched U.S. House bill mandating comprehensive 401(k) fee disclosures and dealing with plans providing investment advice made it out of committee on Wednesday.