News

Assets in target-date funds (TDFs) grew to $380 billion by year-end 2011 and are targeted to reach $1.1 trillion in 2016.  

J.P. Morgan Chase paid $384 million to American Century Investment Management after losing an arbitration over accusations of breaches related to the bank’s purchase of American Century.

Beginning in April, a select group of Merrill Lynch financial advisers will offer defined contribution (DC) investment consulting services to manage fiduciary risk.

A federal court decided that a waiver of benefits can be enforced through a direct suit against a named beneficiary after benefits have been paid.

A $10 million settlement of a stock drop suit against Bear Stearns has been filed in federal court.

U.S. Department of Labor (DoL) Secretary Hilda L. Solis told lawmakers this week that the agency is not rushing on its re-proposal of a new definition of fiduciary.

Great-West Retirement Services appointed Harriet Jacobs regional sales director for its Government Markets business. 

Sentinel Investments has changed the portfolio management teams for four mutual funds.

Commonwealth Financial Network selected Fiduciary Benchmarks to address ERISA’s 408(b)2 fee disclosure regulations.

If you update your Facebook status hourly and have thousands of friends, beware: You may be a narcissist.

Forty-eight percent of plan sponsors who are not fully bundled indicate they would be open to bundling their retirement plans if convinced of the benefits. 

Market Vectors ETF Trust launched Market Vectors Indonesia Small-Cap ETF (IDXJ). 

Asset managers are considering creating positions dedicated to covering smaller consultants and high-end retirement specialist advisers.

Northern Trust has enhanced its fixed income analytics. 

The companies of OneAmerica selected Mike Gastineau as regional sales director for retirement business in Indiana.

J.P. Morgan Chase agreed to pay $150 million to settle a lawsuit claiming losses from the bank’s securities lending program.

Twenty-seven percent of affluent Americans are unsure how much to save or invest to meet their future needs.

Stanley, Hunt, DuPree & Rhine Investment Advisers Inc. (SHDR-IA) is now offering retirement plan sponsors ERISA 3(38) fiduciary services.  

The Hartford is pursuing the sale of, or other strategic alternatives, for its Retirement Plans business.

Eight-four percent of professional service firms say compliance with regulations is their top concern when sponsoring retirement plans for the employees.