Results for "defined contribution plans"

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Putnam chief aims to spearhead revamp of 401(k) industry

May 6, 2009

By Mark Bruno Investment executives and retirement plan officials will band together over the next several months to propose some radical enhancements to the nation's 401(k) system, said Robert Reynolds, president and CEO of Boston-based Putnam...

Bosses, workers starve DC plans

March 25, 2009

Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today. Meanwhile, 20%...

Mercer to offer DC admin services direct to advisers

March 25, 2009

Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston. The firm offers consulting, outsourcing...

Putnam stakes claim in 401(k) market

March 25, 2009

Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market. The platform will provide plan sponsors with a range of investment choices, plan designs...

Retirement assets plunged 25% in '08

March 18, 2009

The nation's retirement assets shrank by nearly 25% last year and lost more than $2.4 trillion in market value, according to a new report from Chicago-based Spectrem Group. Total assets held in retirement plans — both traditional defined-benefit...

MFS forms DC investment only office

October 28, 2008

MFS Investment Management of Boston announced today the formation of a business development office for the defined contribution investment only market. Matt Gannon will serve as senior vice president and director of DCIO and strategic alliances...

Labor publishes rules for retirement accounts

August 22, 2008

The Department of Labor has announced final publication of two proposed rules designed to enhance access to financial advisers by defined contribution participants and individual retirement account holders. The proposed rules would clarify advice...

Labor Dept. floats worker contribution rule

February 28, 2008

The U.S. Department of Labor announced a proposed rule to provide increased protection for employee contributions deposited to pension and welfare-benefits plans for smaller firms. The proposal provides a safe harbor of seven business days following...

Lincoln Financial hires DC product head

February 12, 2008

Lincoln Financial Group has hired Cynthia King to be head of products for the Philadelphia-based company’s Employer Markets Defined Contribution and Executive Benefits Business segment. Ms. King will be responsible for defined contribution...

Liebrock jumps from Fidelity to Captrust

January 7, 2008

Former Fidelity Investments vice president Dave Liebrock has joined Captrust Financial Advisors, an independent advisory firm, as the company's senior vice president in Boston. He worked at Fidelity Investments Institutional Services Company...

Plans to be fined on disclosure issues

December 18, 2007

The U.S. Department of Labor plans to start fining defined contribution plan administrators up to $1,000 a day if they fail to disclose certain documents to participants. Under the Pension Protection Act of 2006, provisions were established...

No help for plans from PPA, says study

October 10, 2007

The Pension Protection Act of 2006 has not improved the security of defined benefit pension plans, the chief policy actuary of the Pension Benefit Guaranty Corp. said today. An analysis done by the PBGC found “that PPA may not have significantly...

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