Robert Steyer Reporter (defined contribution) [email protected] 212-210-0180 See All Staff Page Recent Stories New Jersey to make quarterly pension fund payment on time New Jersey will make its quarterly contribution of $684 million to the state pension on time and in full, effective June 30. J.P. Morgan Chase agrees to $9 million settlement in 401(k) suit J.P. Morgan Chase agreed to pay $9 million to settle allegations that company 401(k) plan fiduciaries violated their ERISA duties. ManTech International sued for 401(k) plan breaches Participants in a 401(k) plan offered by ManTech International sued the company and plan executives for violating their fiduciary duties. Shareholders reject climate resolution at J.P. Morgan Chase Shareholders of J.P. Morgan Chase narrowly defeated a resolution for greater disclosure on how lending activities affect climate change. IRS issues guidance regarding distributions under CARES Act The IRS issued guidance for the CARES Act's impact on retirement plans in regard to distributions and employers' responsibilities. ‘To vs. thru’ debate centers around level of risk plan sponsors want Target-date funds offer different levels of risk between opposing strategies but also within individual strategies. No clear winner found in target-date ‘to vs. through’ debate In the battle of "to vs. through" target-date fund strategies, there are many varieties but no clear winner. TIAA, Nuveen expect low takeup on buyouts TIAA is offering a voluntary separation package to 75% of eligible employees globally but expects uptake of 5% to 7%. DiNapoli: NYC pension funds on track for negative fiscal-year returns New York City Retirement Systems posted an estimated negative return through May 8 for the fiscal year ending June 30. Drop in New Jersey lottery proceeds could affect state's pension contribution New Jersey state lottery proceeds fell 25.6% in April vs. a year earlier, putting pressure on the state's fiscal year pension contribution. Lawsuit accuses ADP of violating ERISA Two participants in a multiple-employer 401(k) sued ADP and affiliates, accusing them of breaching their fiduciary duties under ERISA. CITs outpacing growth in mutual funds – Morningstar Collective investment trusts are playing a greater role in target-date funds, outnumbering and growing faster than mutual funds. Alight: 401(k) participants stick with conservative investments in April Participants in 401(k) plans continued to favor fixed income and conservative investments in April even as they traded less than in March. ADP faces ERISA lawsuit over fiduciary breaches ADP is being sued over its role as the fiduciary of a multiple-employer 401(k) plan by a sponsor that alleges ERISA violations. J.P. Morgan to replace lead independent director opposed by some pension funds J.P. Morgan Chase & Co. will replace lead independent director Lee R. Raymond in a few months. Load More
