Newsmakers
Milliman Faces ERISA Lawsuit Over Alleged Breach of Fiduciary Duty
The plaintiffs claim the firm’s 401(k) lost as much as $85 million due to imprudent investment decisions.
Tag: 401(k)
Newsmakers
DB Plans Far More Cost-Efficient Than DC Plans, Research Finds
Switching from pensions to 401(k) plans only saves money if benefits are cut substantially, a new report says.
Risk
What Public Pensions Can Learn From Puerto Rico’s Bankruptcy Crisis
Puerto Rico ERS’ collapse could have been avoided, an industry expert says.
Regulation
DOL Warns Retirement Plans to Be Cautious About PE Investments
The Department of Labor is concerned fiduciaries will misinterpret its earlier June 2020 letter.
Newsmakers
Fidelity, State Street Offer Retirement Plans With Income Streams
The SECURE Act has lifted barriers and made it easier for firms to offer annuities in retirement plans.
Asset Allocation
BlackRock Launches Service to Include Annuities in 401(k) Plans
The asset management giant has signed up five sponsors in a new program aiming to provide a lifetime of retirement income.
Asset Management Culture
Lawmakers Propose Portable Retirement Accounts Bill
The PRIA Act is intended to help Americans avoid losing retirement funds when changing jobs.
Pensions
House Considers Auto-Enrollment Legislation
The proposed bill would require nearly all US companies to enroll workers in a retirement plan.
Opinion
Pension Funds Should Report Performance on a Monthly Basis, Markov Says
An analysis of portfolios using a returns-based lens would help some funds improve transparency, the investment researcher advises.
Asset Allocation
Transamerica Settles 401(k) Lawsuit for $5.4 Million
The complaint alleged the insurance giant saddled its plan portfolio with proprietary duds.
Research
Pandemic Magnifies Demand for Retirement Income
A BlackRock report finds plan participants and sponsors are increasingly seeking a steady retirement income stream.
Regulation
Bill Seeks to Provide Plan Sponsors with Legal Cover for ESG Investing
Legislators say employers are hesitant to provide ESG options in 401(k)s over fears of being sued.
Regulation
Senators Reintroduce Retirement Security & Savings Act
The bill seeks to allow people who have saved too little to set aside more for retirement.
Asset Allocation
Fidelity 401(k) Plan Balances Rise to New High in Q1
Despite economic fallout from the pandemic, defined contribution plan balances remain strong.
Regulation
Securing a Strong Retirement Act Passes Ways and Means Committee
Among other measures, the bill would expand automatic enrollment for 401(k) and 403(b) plans.