Corporate DC plans

SEARCHES AND HIRES -

SEARCHES AND HIRES -

Energy Trust of Oregon Inc. hired Cable Hill Partners and Principal Financial Group as third-party administrators for its three DC plans.
Defined contribution plans and IRAs add assets at the expense of DB plans and annuities
Total U.S. retirement assets totaled $27.2 trillion as of Sept. 30, 2017, according to data from the Investment Company Institute.
Walmart's 10% stock drop spells trouble for its 401(k) plan

Markets -

Markets -

Walmart Inc.'s stock dropped 10.18% on Tuesday to $94.11 per share, causing a large impact on its 401(k) plan.
Bond funds see $23 billion in January inflows; U.S. equity funds lose $24 billion
Investors poured $23 billion into actively managed bond funds in January while moving about $24 billion out of active U.S. equity funds.
DC record-keeper concentration
The top five defined contribution record keepers manage about 40% of all DC plans, or about 277,000 plans covering 11.2 million participants.

Searches and Hires -

Searches and Hires -

Guaranty Bancshares Inc. hired Newport Group as record keeper of its employee stock ownership plan.
Millennials embrace ESG option in Bloomberg's 401(k) plan

ESG -

ESG -

Millennials are the largest group that is participating in the ESG-focused fund in Bloomberg's $2.5 billion U.S. 401(k) plan.
BT Group management employees to move to DC plan following improved terms

Pension Funds -

Pension Funds -

Participants in the BT Pension Scheme will move to a defined contribution plan on June 1 rather than April 1.
Mastercard ups 401(k) employer match to 10%

Defined Contribution -

Defined Contribution -

Mastercard Inc. is increasing the cap on the employer match in its 401(k) plan to 10% of an employee's salary.
IBM ups international equity weighting in target-date funds

Defined Contribution -

Defined Contribution -

IBM has changed certain asset allocations in its IBM 401(k) Plus Plan, providing greater exposure to international equities.
Dell hikes 401(k) match to 6%, with annual max of $7,500

Defined Contribution -

Defined Contribution -

Dell Inc. has increased the company match in its 401(k) plan to 6% of an employee's salary up to an annual maximum of $7,500.
Mutual of Omaha sued over 401(k) plan fees, investment options

Defined Contribution -

Defined Contribution -

Mutual of Omaha is being sued over allegedly excessive fees and the use of proprietary funds in its 401(k) plan.
86% of British Steel Pension Scheme participants vote to move to new pension plan

Pension Funds -

Pension Funds -

Some 86% of the British Steel Pension Scheme's participants voted to move to a new pension plan, the New British Steel Pension Scheme.
Capital Group, sponsor of American Funds, wins 401(k) lawsuit

Courts -

Courts -

Capital Group has won a lawsuit alleging the company profited at the expense of its employees by loading its 401(k) plan with costly in-house funds.
Sponsors cite new tax law in improving 401(k) plans

DEFINED CONTRIBUTION -

DEFINED CONTRIBUTION -

The new tax law played a role in several companies' decisions to enhance their 401(k) plans.