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DoL Says Stock Windfall Belongs to Participants
The Department of Labor (DoL) announced it is suing the Iowa Association of Business and Industry over a stock windfall that the organization retained rather than turn over...
GAO Urges Congress to Consider 401(k) Plan Fee Disclosure
A report from the Government Accountability Office (GAO) urges Congress to amend the Employee Retirement Income Security Act (ERISA) to require more comprehensive disclosure to participants on 401(k)...
Investors Want to Drive Their Own Retirement Savings Plans
Many Americans may be leaving their retirement savings program on auto pilot, but a majority responding to a recent survey was certain of one thing: they wanted to...
AARP Finds Older Californians Overwhelmed by Retirement Saving
A survey from AARP Financial has found Californians over age 50 report being overwhelmed with too many choices, turned off by complex prospectus language and not sure who...
DoL Provides Multiemployer Plan Election Model Notice
The Department of Labor (DoL) has announced that a model notice, which may be used by employee benefit plans electing to be treated as a multiemployer plan under...
IRS Issues Guidance on Employer Stock Account Diversification
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...
Great-West Sweeps Up More 401(k) Business
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 Makes Collective Investment Trusts More Comparable to Mutual Funds
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...
BISYS Adds Education and Advice to Retirement Services
BISYS has announced additions to its retirement plan services that provide education, advice and additional reporting to participants.
Guidance Provides Relief for 409A Income Reporting
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...
Funds Cross $10 Trillion Asset Mark in October
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)...
Gay Boomers More Concerned about Long-Term Care
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.
Recent Pension Laws Sheds Light on Non-Qualified Plan Issues
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...
Participants Not Confident in Investing Abilities
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...
State Street Enhances Investment Compliance Suite
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...
Fiduciary Breach Claims Must Seek Relief for Whole Plan
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...
ICI: ETF Assets up to $383B in October
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.
PAi to Administer Oppenheimer 401(k) Program
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.
Updated Hedge Fund Compliance Tool Launched
HedgeOp Compliance LLC has announced the launch of its updated ComplianceTrak software system.
SaveDaily Announces Solo 401(k) for Real Estate Professionals
SaveDaily.com Incorporated has announced the creation of an automated, online 401(k) program for real estate professionals.