PROVO, Utah - Novell Inc. added nine options to its $277 million 401(k) plan, said Melissa Moon, benefits consultant. She said the new options are funds managed by PIMCO, Fidelity, Neuberger Berman and Morgan Stanley. The plan now has 20 options. The new options were added to give employees access to all major asset classes. Fidelity is bundled provider.
Portland Cement increasing fund choices
SKOKIE, Ill. - Portland Cement Association will add four investment options to its $33 million 401(k) plan in April, said Phil Riskin, director of human resources. The new options - Fidelity Freedom, large-cap value equity from Dodge & Cox, small-cap value equity from American Century and American Funds EuroPacific Growth funds - increase the plan's total to 12, said Steve Dufault, consultant with DiMeo Schneider.
Administrative Management Group is record keeper.
Participants' confidence is dropping, survey finds
SAN FRANCISCO - Defined contribution plan participants are less confident than a few months ago that they will achieve their savings goals by retirement age, according to a survey by Transamerica Retirement Services.
In the survey of 225 participants interviewed in mid-October, 8% of women and 28% of men reported being "very confident" they would reach their retirement goals, down from 21% of women and 30% of men in Transamerica's August poll.
31% of fund shareholders invest only via DC plans
WASHINGTON - Of the 93.3 million shareholders in U.S. mutual funds, 31% invest in mutual funds only through employer-sponsored defined contribution retirement plans, according to data from the Investment Company Institute. The data also show that 38% only invest in funds outside their defined contribution plans, and 31% invest in mutual funds both in and out of their retirement plans.
According to the ICI data, collected in May 2001, 52% of all American households owned mutual funds. Nearly all investors - 97% - considered themselves long-term investors, and 72% said their main goal in mutual fund investing was to retire. More than half of all mutual fund shareholders, or 57%, made their first fund purchases through defined contribution retirement plans.
Ziegler, Emplanet join forces for small 401(k) service
MILWAUKEE - Ziegler Cos. announced an alliance with Emplanet to launch a private-label version of Emplanet's online 401(k) service for the small-plan market (plans with $1 million to $10 million in assets), said Larry Myrold, vice president of retirement plan services.
He said Ziegler chose Emplanet because of its competitive pricing structure and the favorable "shelf space" the Emplanet service would give to Ziegler's North Track funds: Standard & Poor's 100; PSE Technology 100; Dow Jones Healthcare 100; Dow Jones Financial Services 100; money market; government fund; and managed growth.
CIGNA adds 13 mutual funds to its option lineup
HARTFORD, Conn. - CIGNA Retirement & Investment Services will make 13 more mutual funds available to its retirement plan clients. The funds are: T. Rowe Price Blue Chip Growth, Equity Income and Small Cap Stock; Waddell & Reed Accumulative and Small Cap Growth; Alliance Growth & Income and Balanced Shares; Lord Abbett Affiliated; MAS Mid Cap Value; Strong Opportunity; Oakmark Select; Franklin Balance Sheet Investment; and Strong Advisor Small Cap Value.