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Xerox Announces Match Suspension
To cope with effects from the economy, Xerox said it is taking steps that will save it as much as $300 million this year, according to MarketWatch.
Investment Advice Rule Implementation Delayed
The U.S. Department of Labor (DoL) has delayed the effective date of its final rules about providing retirement plan participant investment advice.
ERISA Breach Suit Filed Too Late
A suit filed by a plan that suffered investment losses in a Ponzi scheme was filed a month too late.
Consumers Lack Confidence in Financial Institutions
A survey by Nielsen found that only 28% of respondents were confident of the company that manages their investment or retirement accounts.
Average 401(k) Deferrals Increased—Barely
Contributions to 401(k) plans went up nearly 1% since 1988, according to the Employee Benefit Research Institute (EBRI).
Great-West Launches Retiree Web Site
Great-West Retirement Services launched an interactive Web site geared specifically toward participants nearing or in retirement.
Newkirk Provides Communication Material for Auto-Enrolled Plans
Newkirk unveiled enrollment communication called AutoBook, which is designed for qualified automatic contribution arrangement (QACA) and eligible automatic contribution arrangement (EACA) plans.
Vanguard's New Small-Cap Index Fund Covers Developed, Emerging Markets
Shares of Vanguard's new international small-cap index fund , Vanguard FTSE All-World ex-US Small-Cap Index Fund, are now available for purchase.
iSectors Introduces ETF Models
In response to adviser demand, iSectors said it added 16 allocation models to its suite of exchange-traded fund (ETF) models.
Thomson Reuters Expands Offerings to Advisers
Thomson Reuters teamed up with ByAllAccounts Inc. to offer account data to advisers.
Survey Says Advisers Helped Minimize Investment Loss
Fidelity Investments research shows that the largest percentage of individual investors surveyed (32%) feel that their adviser or broker helped minimize investment loss during the past six months.
Merrill Lynch Fund Manager Survey Finds Growing Optimism
While still shying away from equities, investors are at their most optimistic about the global economy since December 2005, according to the latest Merrill Lynch Survey of Fund...
Grid “Lock?"
As March Madness officially gets underway tonight, odds are (no pun intended) you’ve had an opportunity (or two) to weigh in on the NCAA tournament.
ExpertPlan Releases RK System
Recordkeeper ExpertPlan has unveiled its PlanRecordkeeper+, which the company said allows third-party administrators (TPAs) to maintain daily recordkeeping services while working with ExpertPlan.
AIG Chief Defends Bonuses—But Asks for Them Back
The head of the American International Group (AIG) said he has asked some bonus recipients to give at least half of the money back.
Retirement Market Sheds Nearly a Quarter of Assets in 2008
Total U.S. retirement market assets, including both defined contribution (DC) and defined benefit (DB) plans, tumbled 24% to $7.86 trillion in 2008, down from $10.3 trillion the prior...
AMCORE Financial Cuts Retirement Contributions, Freezes Wages
AMCORE Financial is eliminating its cash contribution to retirement plans of all employees, but continuing to match 401(k) contributions up to a maximum 4%.
Citi Launches Unified Managed Household Servicing Platform
Citi announced the launch of OpenWealth, a unified managed household (UMH) servicing platform.
Wis. TPA Hires Sales Consultants
A Wisconsin third-party administrator (TPA) has hired three sales representatives.
Ariz. Hospital Cuts 403(b) Match
Casa Grande Regional Medical Center in Arizona has halted matching contributions to employees’ 403(b) plan.