Corporate DC plans

Employer DC contributions slow since 2014
U.S. employers contributed $196 billion to defined contribution plans in 2017. While this figure is the highest it's been since the Federal Reserve began recording the data in 1984, growth figures...

Searches and Hires

Searches and Hires

Financial Institutions Inc., Warsaw, N.Y., hired Vanguard Group as record keeper of its 401(k) plan.
IRS ruling on student-debt help could prompt other plans to act

REGULATION

REGULATION

An IRS ruling could give a boost to employers trying to help workers deal with student loan debt without derailing retirement savings.
Transamerica survey shows several disconnects between employers, employees on retirement security

Financial Wellness

Financial Wellness

Just over 70% of employers are confident employees will be able to achieve financial security in retirement vs. only 62% of employees.
Almost half of U.K. corporate DC sponsors lack financial wellness plans for participants – report

Financial Wellness

Financial Wellness

Almost half of corporate DC plan sponsors in the U.K. do not have a financial wellness strategy in place for plan participants.

Searches and Hires

Searches and Hires

First Bancorp hired Fidelity Investments as record keeper of its 401(k) plan.
Deutsche Bank reaches $21.9 million settlement with 401(k) participants

COURTS

COURTS

Participants in a Deutsche Bank 401(k) plan reached a tentative $21.9 million settlement with the company over allegations of fiduciary breaches.

Searches and Hires

Searches and Hires

Molex Inc. hired Alight Solutions as service provider of its 401(k) plan, replacing Fidelity.
Citigroup settles with 401(k) participants, will pay $6.9 million

Courts

Courts

Participants in a Citigroup 401(k) plan have reached a tentative settlement with plan fiduciaries, leading to a $6.9 million payment.
Appeals court upholds dismissal of Wells Fargo 401(k) lawsuit

Courts

Courts

A federal appeals court upheld a dismissal of an ERISA breach claim against Wells Fargo by a participant in the company's 401(k) plan.
Judge dismisses amended complaint in Wells Fargo stock-drop case

Courts

Courts

A U.S. District Court Judge in Minneapolis dismissed for the second time a lawsuit by participants in Wells Fargo's 401(k) plan.
Judge dismisses suit against AT&T plan

Courts

Courts

A judge dismissed claims by AT&T retirement plan participants that plan fiduciaries failed to "obtain reasonable" record-keeping fees.
Corporate, health-care plans slow on ESG uptake, study finds

ESG

ESG

Only 12% of corporate or health-care retirement plans have adopted ESG investing, although another 29% said they are interested.
Entries now open for the 2019 Eddy Awards

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

P&I is seeking entries for the 2019 Eddy Awards, which recognize best practices in providing investment education to DC participants.
Target-date funds the engine powering continued growth

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

DC managers see another year of double-digit gains in target-date assets under management.