CalPERS to Oppose Re-election of Bank of America Directors
April 27, 2010 (PLANSPONSOR.com) - The California Public Employees' Retirement System (CalPERS) has announced its opposition to the re-election of six Bank of America directors.
Administration
Dutch Pensions Face Funding Dilemma
April 27, 2010 (PLANSPONSOR.com) - Pension plan sponsors in the Netherlands are facing their second funding challenge in the past decade, this one more severe than the first,...
U.S. Money Manager Searches up Slightly in 2009
April 27, 2010 (PLANSPONSOR.com) – Plan sponsors replaced managers who performed exceptionally poorly relative to their benchmarks during the market decline and did not start recovering when the...
Public Funds Sue Lehman and Auditor
April 26, 2010 (PLANSPONSOR.com) - Lehman Brothers Holdings Inc.’s auditor Ernst & Young LLP was added as a defendant in a lawsuit seeking to recover money from former...
Cogent Finds IRA Assets Surpassed 401(k) Assets
April 26, 2010 (PLANSPONSOR.com) - For the first time since Cogent Research has been tracking investor allocations, it says wealthy Americans now hold more assets in IRAs than...
ND Pension Systems to be Audited Following Investment Director Suicide
April 26, 2010 (PLANSPONSOR.com) - North Dakota’s pension funds for state workers and public school teachers will be audited following the suicide of their former investment director.
SEC Wins Backdating Conviction against Maxim Former CFO
April 26, 2010 (PLANSPONSOR.com) - A California jury has convicted the former Chief Financial Officer of Maxim Integrated Products Carl Jasper of securities fraud related to stock options...
Settlements Reached in HealthSouth Litigation
April 26, 2010 (PLANSPONSOR.com) – Settlements have been worked out for investor lawsuits over a fraud that decimated hospital owner HealthSouth, including a claim by bondholders led by...
Senior SEC Staffers Caught Surfing for Porn
April 26, 2010 (PLANSPONSOR.com) – Apparently some employees at the Securities and Exchange Commission have been keeping an eye on things besides financial transactions.
Canadian DB Sponsors Most Want Funding Flexibility
April 23, 2010 (PLANSPONSOR.com) – A new poll by Aon Consulting Canada found employers believe that greater defined benefit funding flexibility is the most critical issue as regulators...
Federated Says Money Market Fee Waivers to Stay
April 23, 2010 (PLANSPONSOR.com) – Federated Investors, the third-largest U.S. manager of money market funds, announced that it expects to continue waiving some fees for the rest of...
SEC Charges Money Manager with Defrauding Detroit Pension Funds
April 22, 2010 (PLANSPONSOR.com) - The Securities and Exchange Commission has charged a private equity firm, a money manager, and his friend with participating in a fraudulent scheme...
Ex-CEO of KB Home Convicted on Charges Related to Options Backdating
April 22, 2010 (PLANSPONSOR.com) - A federal jury on Wednesday found the former chief executive officer of KB Home guilty of four charges relating to stock options backdating.
NY Times Takes Charge for Health Care Reform Benefit Tax Changes
April 22, 2010 (PLANSPONSOR.com) – The New York Times company has joined other major U.S. employers in taking a one-time accounting charge to reflect the effects of the...
DC Consultants Say Custom Target-date Funds Keep Growing
April 21, 2010 (PLANSPONSOR.com) – A new PIMCO survey of defined contribution consultants finds the trend of clients requesting custom target-date funds continues to grow.
Corporate Plans See Slight Improvement in 2009
April 20, 2010 (PLANSPONSOR.com) – The aggregate funding ratio for corporate pension plans increased from 80.2% to 83.4% and the -$217.9 billion deficit at the beginning of 2009...
Schwab to Pay $200M in Bond Fund Suit Settlement
April 20, 2010 (PLANSPONSOR.com) – Charles Schwab Corporation has agreed to pay $200 million to settle federal securities law claims in a civil class action lawsuit related to...
UK Insurance Giant to Close Pension Schemes
April 20, 2010 (PLANSPONSOR.com) – UK insurance giant Aviva has announced plans to close its final salary pension schemes.
Feds File Appeal in SDCERS Pension Case
April 19, 2010 (PLANSPONSOR.com) – San Diego pension officials aren’t out of the woods yet.
SEC Charges Quadrangle for Kickback Scheme Involving NY Pension Fund
April 16, 2010 (PLANSPONSOR.com) - The Securities and Exchange Commission has charged Quadrangle Group LLC and one of its affiliated entities for participating in a widespread kickback scheme...