Corporate DC plans

Pioneer Natural Resources sued over expensive investment options in 401(k) plan

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A participant in the 401(k) plan of Pioneer Natural Resources has sued plan executives, alleging they violated their fiduciary duties under ERISA.

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William Harmon has been hired by Voya Financial as president of retirement corporate 401(k).

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Clorox Co. hired Vanguard Group as record keeper of its 401(k) plan.

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Marathon Oil Corp., Houston, added Baird Asset Management's Midcap Fund to the lineup of its 401(k) plan.
Waddell & Reed sued over favoring its own investment options in 401(k) plan

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A participant in the Waddell & Reed Financial Inc. 401(k) plan sued plan executives in federal court.
Chevron switches Vanguard share classes, expects record-keeper hire soon

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Chevron Corp. added Vanguard Group's Institutional Extended Market Trust to the lineup of its 401(k) plan,
UPS to freeze 2 pension plans in 2023

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United Parcel Service will freeze two defined benefit plans for non-union employees, effective in 2023.
Keynote speaker urges more behavioral finance in plan participation, education

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The field of behavioral finance can be put to practical use in getting defined contribution plan participants more engaged in and educated on their retirement plans.
Transforming retirement savings into wealth

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Helping employees convert savings in retirement plans into wealth they can draw on in retirement must be a key focus for the industry.

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Best Buy Co. Inc. added two BlackRock​ mutual funds and the Phocas Small Cap Value Fund as investment options in the $1.5 billion Best Buy Retirement Savings Plan.

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Phillips 66 added three options and removed three from the investment lineup of its savings plan.

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Lubrizol Corp. is adding the Vanguard International Explorer Fund as an investment option in its two 401(k) plans.

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Morgan Stanley added five separately managed accounts as investment options in its 401(k) plan in 2016.
Alexa, order coconut water and kale

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Shares of U.S. grocery chains spoiled on the shelf Thursday and into Friday’s open after Kroger announced that it was raising wages and cutting prices.
$3 billion in retirement assets at stake in Amazon acquisition of Whole Foods

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Amazon.com's acquisition of Whole Foods Market could create a single company with combined defined contribution assets of about $2.9 billion.