Corporate DC plans

SunTrust to make one-time contribution top-up to 401(k) participants

Defined Contribution -

Defined Contribution -

SunTrust Banks Inc. will make a one-time contribution of 1% of pay to participants in the company's 401(k) plan.
Nationwide boosts 401(k) plan match

DEFINED CONTRIBUTION -

DEFINED CONTRIBUTION -

Nationwide Mutual Insurance Co. is increasing its 401(k) match and providing a one-time bonus of $1,000 to many employees.
Visa boosts match to apply to 5% of employee's pay

Defined Contribution -

Defined Contribution -

Visa will increase its 401(k) match to 200% of an employee's salary up to 5% of pay, from the current match of 200% of salary up to 3%.
Arconic to freeze U.S. DB plans

Pension Funds -

Pension Funds -

Arconic announced it will freeze its U.S. defined benefit plans for all 7,900 of its U.S.-based salaried and non-bargained hourly employees.
Aflac improves company match for 401(k) plan

Defined Contribution -

Defined Contribution -

Aflac Inc. is raising the corporate match to its 401(k) plan this year to 100% on the first 4% of an employee's contribution from 50%.
Allianz agrees to settle 401(k) fee lawsuit for $12 million

Courts -

Courts -

Allianz has agreed to pay $12 million to settle a lawsuit alleging it peppered its company 401(k) plan with dozens of high-cost, in-house funds.

SEARCHES AND HIRES -

SEARCHES AND HIRES -

Newell Brands Inc. hired Fidelity Investments as record keeper of the company's new 401(k) plan.

SEARCHES AND HIRES -

SEARCHES AND HIRES -

GlobalFoundries U.S. Inc. hired Prudential Financial as record keeper of its 401(k) plan.
Judge dismisses fiduciary-breach lawsuit against Delta Air Lines

Courts -

Courts -

A judge in Atlanta has dismissed claims by participants in a Delta Air Lines 401(k) plan alleging a breach of fiduciary duties and excessive fees.
Fujitsu settles lawsuit alleging ERISA violations for $14 million

Courts -

Courts -

Fujitsu has settled for $14 million a class-action lawsuit alleging a 401(k) plan violated its ERISA duties by paying high fees for investment options.
CenturyLink sued by 401(k) plan participants alleging fiduciary breach

Courts -

Courts -

CenturyLink Inc. has been sued by 401(k) plan participants alleging the company violated its fiduciary duty with one investment option.
Cbus adds head of strategy and investment innovation

DEFINED CONTRIBUTION -

DEFINED CONTRIBUTION -

Superannuation fund for Australia's construction industry is continuing expansion of its internal management capabilities.
CVS acquisition of Aetna affects $23 billion in retirement assets

Retirement Plans -

Retirement Plans -

The CVS Health Corp. — Aetna Inc. deal would create a company with a combined $23 billion in retirement plan assets.
Rep. Richard Neal introduces two workplace retirement savings bills

Legislation -

Legislation -

Two new bills would require most employers to offer a defined contribution plan and simplify some retirement savings rules.

Searched and Hires -

Searched and Hires -

Mallinckrodt Enterprises LLC hired Fidelity Investments as record keeper of its 401(k) plan.