Last December, a judge allowed a lawsuit by Verizon retirees to halt the sale of $7.5 billion or 25% of their DB plan to Prudential to proceed. The suit claimed that the sale wiped out the pensioners’ insurance protection under the PBGC. Now a U.S. district court has dismissed the suit because the... READ MORE

Northern Trust released the inaugural edition of the DC Tracker, a report that follows how investors moved their money based on the 85 plans and $190 billion of assets for which Northern Trust provides custody services. Despite a 16.4% gain in domestic equities as measured by the Russell 3000,... READ MORE

The Schlichter law firm strikes again in a $35 million settlement involving Cigna. Participants in Cigna’s own 401(k) plan filed suit against both the company and Prudential, which bought Cigna’s retirement business in 2004 for more than $2 billion. Cigna’s own plan was the largest plan in the book... READ MORE

FINRA has announced that they will be conducting spot checks of their firms’ social media policies and usage over the period of February 4-May 4, including:• How firms are using each social media platform and the business purpose• Dates when firms started using each platform• Identity of... READ MORE

More plan sponsors than ever are looking to change their DC investment lineup, according to a recent Cogent survey of 600 plan sponsors. While many experts believe that last year’s fee disclosure regs had little effect on plan sponsors and even less on participants, Cogent speculated that the regs... READ MORE

Speaking at the Insured Retirement Institute’s annual Government, Legal and Regulatory Conference in Washington this week, EBSA’s Phyllis Borzi argued for her proposed redefinition of fiduciary rule expected out this fall. The proposed rule would eliminate the current five-part requirement, thus... READ MORE

DCIOs go to and fund a lot of industry and partner meetings but they’re frustrated that their portfolio managers don’t get a chance to interact with advisors and discuss investments. So eight DCIOs created their own meeting, called 401konvergence, which kicked off yesterday in NYC. The opening... READ MORE

Many people who enjoy their work joke that they’ll never retire or that their spouses won’t let them. Now recent studies suggest that working longer may actually prolong life and improve health. A 1996-2007 study by professors at Harvard and the University of Wyoming showed that educated women... READ MORE

Are we in crisis? The answer is yes — but according to Harvard professor David Laibson, there are some relatively simple solutions if people are willing to act. If people started saving in their 401(k)s at age 22 at 6% with a 100% match, assuming a 6.5% return, Laibson says, there would be a 103%... READ MORE