NEWARK, NJ, February 23, 2022 – Prudential Financial, Inc. (NYSE: PRU) today announced a pension risk transfer transaction, whereby the Timber Operators Council Pension Plan (“TOCRP”) settled approximately $245 million of its pension plan obligations, for approximately 3,000 retirees, beneficiaries and deferred participants, through the purchase of a group annuityRead More →

NEWARK, New Jersey, February 23, 2022–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today announced a pension risk transfer transaction, whereby the Timber Operators Council Pension Plan (“TOCRP”) settled approximately $245 million of obligations of its pension plan, for approximately 3,000 retirees, beneficiaries and deferred members, by purchasing a group annuity contractRead More →

NEWARK, NJ–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today announced a pension risk transfer transaction, whereby the Timber Operators Council Pension Plan (“TOCRP”) settled approximately $245 million of obligations of its pension plan, for approximately 3,000 retirees, beneficiaries and deferred members, by purchasing a group annuity contract from the Prudential InsuranceRead More →

(Photo credit: Piotr Swat/Shutterstock) Overview of Goldman Sachs Employee Retirement Class Action: WHO: A former Goldman Sachs employee is suing the bank, alleging it mishandled its employees’ $7.5 billion 401(k) plan. Why: The plaintiff claims the banking giant’s plan was full of underperforming company-managed investment funds. Or: The case isRead More →

New to ClassAction.org? Read our newswire disclaimer A proposed class action lawsuit alleges that Taylor Corporation and its board of directors and trustee investment committee failed to prudently manage the company’s employee pension plan. According to the 46-page case, the defendants breached their fiduciary duties to 401(k) participants and beneficiariesRead More →

A federal judge on Wednesday granted UnitedHealth Group workers class action status in their fight against the company’s alleged inability to manage their $7 billion retirement accounts. Judge John Tunheim of the U.S. District Court in Minnesota ruled that the employee’s complaint met federal class certification standards, saying the moreRead More →

Last week, on January 24, the United States Supreme Court issued its much-anticipated decision in Hughes v. Northwestern University, unanimously ruling that pension plan trustees have a duty to continuously monitor pension plan investment options and remove any imprudent ones. In its opinion, the Supreme Court made it clear thatRead More →

WASHINGTON — The Supreme Court said Monday that employers must regularly review their retirement offers, ruling unanimously for Northwestern University employees who argued the school’s defined-contribution plan offered a confusing number expensive investment options. Separately, the court added several important cases to its fall docket, including a lawsuit that couldRead More →

WASHINGTON — The Supreme Court said Monday that employers must regularly review their retirement offers, ruling unanimously for Northwestern University employees who argued the school’s defined-contribution plan offered a confusing number expensive investment options. Separately, the court added several important cases to its fall docket, including a lawsuit that couldRead More →

Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. The mobile-optimized digital experience offers engaging and motivating resources that make it easier to take action and achieve financial goals. RADNOR, Pa.–(BUSINESS WIRE)– Lincoln Financial Group (NYSE: LNC) today announced theRead More →

On December 6, the United States Supreme Court heard oral arguments in the case Hughes v. Northwestern University. The issue at issue is whether the allegations that a defined contribution pension plan paid fees that significantly exceed the fees for other available investment products or services are sufficient to raiseRead More →

A regulatory effort under the radar could encourage investors to change the way they assess the risk of investments by private sector employee benefit plans governed by the Employees Retirement Income Security Act of 1974. In January, President Joe Biden issued a decree directing departments and executive agencies to reviewRead More →

Pandemics, political and political changes, volatile investment markets — another year under the belt. WealthManagement.com asked several pension industry leaders for their thoughts on the most important developments of the past year for plan advisors. Wealth Management: What do you think are the main developments that have affected the workRead More →

Almost all dermatology practices use Qualified Pension Plans (QRP), including 401 (k) plans and profit sharing, defined benefit and hybrid plans. As part of our diagnostic work for clients, we often review such plans. Based on our experience, we have identified several pitfalls that cost the practice more or subjectRead More →

GREENWOOD VILLAGE, Colorado – (BUSINESS WIRE) – October 20, 2021– Empower Retirement, the nation’s second-largest pension plan provider 1, added approximately $ 100 billion 2 in assets under administration (AUA) and 3,000 plans to its platform during the 12-month period se ending September 30, 2021. Request for proposals activity overRead More →

GREENWOOD VILLAGE, Colorado – (COMMERCIAL THREAD) – Empower Retirement, the country’s second largest pension provider1, added about $ 100 billion2 assets under administration (AUA) and 3,000 plans to its platform during the 12-month period ending September 30, 2021. Request for proposals activity over the past year has been higher thanRead More →

Adds 925,000 new participants; assets under administration exceed $ 1,100 billion Increased emphasis on personalization for individuals; top quality customer service company GREENWOOD VILLAGE, Colorado, October 20, 2021– (COMMERCIAL THREAD) – Empower Retirement, the country’s second largest pension provider1, added about $ 100 billion2 assets under administration (AUA) and 3,000Read More →

A 403 (b) is the retirement planning vehicle used by nonprofit or other tax exempt employers of nurses, doctors, teachers, professors, school staff, researchers, members of the clergy and some employees of government organizations. 403 (b) plans are named after the section of the Internal Revenue Service (IRS) code thatRead More →

Realogy Holdings Corp. and The Platinum 401k, Inc., a pension outsourcing resource, recently announced the establishment of the SPARK Members Pooled 401 (k) pension plan. Available exclusively to all United States real estate agents affiliated with Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Corcoran®, ERA® and Sotheby’sRead More →

New Common 401 (k) Retirement Plan Now Available for U.S. Real Estate Agents Registered with SPARK Association of Real Estate Professionals MADISON, New Jersey, September 28, 2021 / PRNewswire / – Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in United States, and Platinum 401k,Read More →

Hughes v. Northwestern Univ. n ° 19-1401,953 F.3d 980 (7th Cir. 2020),cert. allowed, 2021 WL 2742780 (US July 2, 2021) Oral argument scheduled for December 6, 2021. Problem: Are allegations that a defined contribution pension plan paid or charged its members a fee that significantly exceeded the fee for theRead More →

BALTIMORE, June 1, 2021 /PRNewswire/ — T. Rowe Award (NASDAQ-GS: TROW) has developed a new framework to help sponsors of defined contribution (DC) plans evaluate retirement income solutions for members to meet the changing needs of retirees. The valuation framework is intended to allow plan sponsors to tailor their DCRead More →

The US Department of Labor (DOL) has unveiled an interim final rule (the “Lifetime Income Disclosure Rule”) that adds a new lifetime income disclosure requirement for administrators of defined contribution plans (for example, plans covered by Section 401 of the Internal Revenue Code (Code) (k) or Section 403 (b) ofRead More →

Earlier this year, we discussed the lifetime income disclosure requirement included in the Every Community Establishment for Retirement Enhancement Act of 2019 (the “SECURE Act”). When the disclosure requirement takes full effect, the benefit statement issued by each defined contribution plan governed by ERISA must include lifetime income illustrations andRead More →

Early versions of web portals for plan members only provided information on account balances and investment options. Today’s innovative portals supplement this basic information with retirement income planning analysis and member-specific advice on improving retirement outcomes. Layout and site designs and user interaction features are also changing, based on behavioralRead More →