Sue Reibel, who joined Hancock’s parent firm in 1994, will be named chief executive of the firm and was most recently the global head of Manulife Investment Management retirement.
Last year, the Department of Labor closed less than a third of the number of cases it did in 2014, but total recoveries were six times higher.
The State Street plan did not include the lowest-cost share classes of the Target Retirement Securities Lending series, and there were some options from third parties with stronger performance records, according to the complaint.
Two impending hikes that would boost premiums for existing CalPERS Long-Term Care insurance customers by 90% make coverage hard to justify, one policyholder said.
Despite often having unwieldy investment menus, government DC plans are concentrated in large-cap U.S. equity and stable value, according to a recent report from the Public Retirement Research Lab.
The firm is reducing fees and is adding a mutual fund version of its Retirement Blend series, which has existed since 2018 in CIT form.
A class-action lawsuit alleges that the company breached its fiduciary duties in connection with a change in the investment menu. Most of the assets in the $1.4 billion plan went into Russell Investment target-date funds, according to the complaint.
The median level of debt for people over age 50 has tripled over the past 30 years, according to a recent analysis by the Government Accountability Office.
The legislation introduced Thursday would amend the Employee Retirement Income Security Act to specifically allow plans to consider ESG factors 'when they are expected to have an impact on investment outcomes, provided plans consider them in a prudent manner consistent with their fiduciary obligations.'
Best Buy and ADP have joined Voya, UPS, Mastercard and others in working with BlackRock's Emergency Savings Initiative.
