Kristi Mitchem — picked to run the defined contribution business of a combined BlackRock Inc. and Barclays Global Investors when their merger is completed — believes the DC industry has gotten a bum rap.
A startling number of older adults either lack the cognitive abilities to manage their finances or delegate that responsibility to others — a finding that could have implications for plan executives and other fiduciaries as a wave of wealthy Americans approach retirement.
Companies are starting to restore matching contributions to their 401(k) plans after extensive cost-cutting and signs of improvement in the economy and experts say these firms represent the first batch in what could be a major round of restoring company matches in coming months.
Long-duration and government bond managers were the leaders in fixed-income performance in Morningstar Inc.'s Separate Account/Collective Investment Trust database for the year ended June 30, as investors took advantage of upheaval in the credit markets.
Wrap capacity for stable value funds has evaporated, leaving DC plan executives scrambling to find insurance for new assets flowing into these funds as many wrap providers are under financial pressure.