Corporate DC plans

Appeals court overturns dismissal in IBM stock-drop case

Courts

Courts

A federal appeals court has ruled against IBM, overturning a lower court dismissal of a lawsuit by IBM 401(k) plan participants.
Edward Jones agrees to pay $3.2 million to settle 401(k) fiduciary breach case

Courts

Courts

Edward Jones agreed to a $3.175 million settlement with 401(k) plan participants who alleged ERISA violations relating to investment options.
Pioneer Natural Resources settles 401(k) fiduciary breach suit

COURTS

COURTS

Pioneer Natural Resources USA Inc. has agreed to pay $500,000 to settle charges that 401(k) plan managers breached their fiduciary duties.
PSCA: 401(k) participation up, as well as contributions

Defined Contribution

Defined Contribution

More employees are participating in their 401(k) plans and upping the amounts they're putting into them.
Survey: DC execs would end their own plan for a state plan

DEFINED CONTRIBUTION

DEFINED CONTRIBUTION

A majority of defined contribution plan executives said they probably would discontinue their plans if a state DC plan were made available.
BB&T, plan participants settle fiduciary breach case

Defined Contribution

Defined Contribution

BB&T has agreed to pay $24 million to settle claims that officials for its 401(k) plan charged "unreasonable" investment management fees.
Fiduciary breach suit against Caterpillar record keeper comes to an end

Courts

Courts

Plaintiffs and defendants agreed to end litigation in a lawsuit by Caterpillar's 401(k) participants alleging a breach of fiduciary duties.
Former Intel employee gets 2nd chance to prove fiduciary breach claim

Courts

Courts

A former Intel employee who claims his retirement funds were imprudently invested has gotten a second chance to advance his case.
U.K. employers open to flexible uses of retirement savings – survey

Financial Wellness

Financial Wellness

A third of U.K. employers are set to help participants to use retirement savings for other financial needs over the next two years.
Waddell & Reed to pay $4.875 million to settle fiduciary lawsuit

Courts

Courts

Waddell & Reed Financial agreed to pay $4.875 million to settle claims by a participant in the company's 401(k) plan over fiduciary issues.
PG&E, Edison International DC participants hit as stocks plunge due to fires

Defined Contribution

Defined Contribution

The wildfires raging across California have hurt participants in PG&E's 401(k) plan with holdings in the company's stock.

SEARCHES AND HIRES

SEARCHES AND HIRES

Sony Corp. of America hired T. Rowe Price as record keeper for the Sony USA 401(k) Plan, replacing Empower.
Median fund in Wilshire TUCS posts 2.63% quarterly return

Pension Funds

Pension Funds

The median return for pension plans as tracked by Wilshire TUCS was 2.63% for the third quarter, up from the median return of 0.88%.
Jackson National Life Insurance to pay $4.5 million in ERISA case

COURTS

COURTS

Jackson National Life Insurance agreed to pay $4.5 million to settle claims by participants in the firm's 401(k) plan over ERISA issues.

Searches and Hires

Searches and Hires

Kelsey-Seybold Clinic hired Prudential Retirement as record keeper for a 401(k) plan, with assets of $413 million