Results for "defined contribution plans"

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John Hancock introduces retirement plan fiduciary program for advisers

June 30, 2011

Anticipating upcoming regulation from the Labor Department, John Hancock Financial Network today launched a program catering to high-end fiduciary plan advisers. The insurer-owned broker-dealer joins other retirement plan service providers in...

Neuberger bulking up DC squad

June 26, 2011

Seeking to enlarge its footprint in the small- and midmarket-retirement-plan area, Neuberger Berman LLC has brought on a trio of wholesalers. The firm hired MFS Investment Management Inc. veteran Tim Guay as vice president of retirement, based...

Court says third-party carriers to retirement plans can be sued

June 24, 2011

A federal circuit court yesterday decided that retirement-plan participants can sue third-party insurers under the Employee Retirement Income Security Act of 1974. A panel of 11 judges on the 9th U.S. Circuit Court of Appeals ruled that ERISA...

Neuberger Berman bulks up with three defined-contribution wholesalers

June 22, 2011

Seeking to enlarge its footprint in the small- and mid-market-plan space, Neuberger Berman LLC has brought on a trio of new wholesalers. The firm hired MFS Investment Management Inc. veteran Tim Guay as vice president of retirement based out...

BlackRock is hiring to boost DC business

March 27, 2011

In a bid to expand its financial-adviser-sold defined-contribution business, BlackRock Inc. is tapping former executives of a retirement-focused broker-dealer that LPL Investment Holdings Inc. bought last year. The giant asset management firm...

Workers like auto-enroll, so why don't plans push it?

March 27, 2011

“Anemic” default-contribution rates among defined-contribution plans using automatic enrollment stand in stark contrast to what plan executives consider optimal savings rates, a survey of 101 plans by the Defined Contribution Institutional...

Big shake-up happening in Putnam's retirement unit

March 27, 2011

Putnam Investments has reorganized the senior ranks of its retirement division and is in the process of getting rid of all non-functional titles among senior executives across the company. Jeffrey R. Carney, who headed retirement as well as...

Firms are omitting annuities in new retirement income products

March 20, 2011

Sensing a market for flexible, pension-like retirement income products, a handful of financial services firms have released, or are about to release, in-plan income solutions that don't include annuities. Joining Financial Engines Inc., which...

DC plan leakage challenges executives, providers

March 13, 2011

Like a nagging cold, leakage from defined-contribution plans continues to bedevil plan sponsors and their providers. DC plan industry players view leakage as causing lost opportunities for participants to build a stronger foundation for retirement....

AllianceBernstein loses DC veteran to Russell

March 11, 2011

Today marks defined-contribution veteran Richard Davies' last day at AllianceBernstein LP; he will be joining Russell Investments June 1. Mr. Davies was senior managing director of defined-contribution and subadvisory relationships at AllianceBernstein....

DOL, industry spar over fund lineups

March 1, 2011

The Labor Department and representatives from service providers and pension advocacy groups today sparred over whether presenting a retirement plan with a fund lineup constitutes investment advice. “The plan sponsor looks to us to look across...

Shift in public pensions seen benefiting advisers

January 2, 2011

As financially troubled states and cities grapple with their pension obligations, many institutional money managers anticipate a big public-sector switch from defined-benefit to defined-contribution plans — a change that could provide opportunities...

Think tank urges cutting contributions to tax-deferred plans

December 5, 2010

A proposal to cut by more than half the total amount employers and employees may contribute to their defined-contribution plans could spur some employers to kill the plans, industry lobbyists say. The proposal by the Bipartisan Policy Center,...

Pension industry to fight for retirement plan tax breaks: IN's Schoeff

October 25, 2010

In a campaign season dominated by antipathy toward Washington, it was unusual to hear a ringing endorsement of Capitol Hill lobbying recently at the American Society of Pension Professionals and Actuaries annual conference. The third day of...

Putnam hooks former Hancock, Fidelity execs to boost DC biz

October 19, 2010

Putnam Investments has tapped former executives from John Hancock Financial Services Inc. and Fidelity Investments to help it expand its defined contribution business. Putnam has hired Jim Brockelman, a former executive vice president of national...

DC assets under management bounced back a bit in 2009

October 10, 2010

Defined-contribution managers bounced back a bit by year-end 2009 from the morose markets of 2008 as assets under management rose 19.7%. However, last year's AUM total was still 12% below that of what investors and managers consider the good-old...

Older workers more confident about retirement stash

September 12, 2010

Older workers are feeling more confident about their ability to retire comfortably, but younger workers, particularly those with defined-contribution plans, are growing increasingly worried. A survey by consultant Towers Watson & Co., released...

More retirement plans offering self-directed brokerage accounts

August 15, 2010

Defined-contribution plans are adding self-directed brokerage accounts as a way of giving participants more choices even as some plans reduce the number of core investment options. Among those making the move are Sprint Nextel Corp., which began...

Employers slow to restore 401(k) matching contributions

August 8, 2010

Economists heralded FedEx Corp.'s decision to restore its matching contribution to employees' 401(k) plans as a sign that the recession is ending, but surveys show that less than half of the firms that reduced or suspended plan matches in recent...

Money funds may prove a tough sell for clients of SSgA stable-value funds

June 20, 2010

State Street Global Advisors' decision to urge its defined-contribution clients to use money market instruments as their “safe” option now that the firm has closed its stable-value business could be a hard sell with prevailing money market...

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