The Department of Labor should establish rules governing when financial service firms may offer their own mutual funds as investment vehicles in the 401k plans they provide for their employees. The question is why hasn't the DOL already done so. The Department of...
RICHMOND, Va. -- A lawsuit brought by participants in First Union Corp.'s 401k plan is expected to define a plan sponsor's fiduciary responsibility for choosing the funds it offers. The participants' suit alleges First Union steered the employe RICHMOND, Va. -- A...
LOS ANGELES-Superior National Insurance Group Inc. has filed a $200 million fraud lawsuit against American Re-Insurance Co. and an affiliate over reinsurance contracts related to Superior's 1998 acquisition of Business Insurance Group Inc. The Lo LOS ANGELES-Superior National Insurance Group Inc. has...
RICHMOND, Va. - When the closely watched class-action lawsuits brought against First Union Corp. by its 401k participants were settled last month, it was not the $26 million price tag that raised a few eyebrows, but the agreement to hire an indepen RICHMOND, Va. - When...
By Amber Veverka, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News By Amber Veverka, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News
New Jersey lawmakers advanced six proposals to trim public employee benefits yesterday, taking the first formal steps in a plan its sponsors say will help dig the state out of its $25 billion pension deficit. The most far-reaching bills would bar newly hired, part-time workers from the state's health plan...
CUSN Adds Two More CUs LAKEWOOD, Colo.–CU Service Network announced that Capitol View Credit Union and First Class Credit Union have joined shared branching as issuing credit unions. The two CUs now have access to more than 3,140 U.S. service centers. For info: www.cuservicenetwork.com. ...
A local inventor has filed suit against five credit unions, alleging they infringed on his patent for a system to provide loans to employees in order to fund their personal contributions to 401k retirement plans. The suit was transferred from U.S. District Court in Chicago, where First Northern CU, one...
To: LABOR EDITORS Contact: Tony Winton of News Media Guild-CWA, +1-786-200-9499 MIAMI, Dec. 29 /PRNewswire-USNewswire/ -- The News Media Guild-Communications Workers of America reached final agreement this weekwith theEFE News Service, marking the first U.S. labor agreementbetween the union andthe Madrid-based Spanish-language news agency.Workers at EFE voted to jointhe Guild...
SAN FRANCISCO -- The quote at the beginning of the second paragraph of the release (dated June 6, 2006) should be attributed to Scott Waite, President and CEO of Patelcorp Inc., the investment and insurance subsidiary of Patelco Credit Union. (sted Scott Waite, President and CEO of Patelco Credit Union.)...
Bank certificates of deposit have about as much pizzazz as a bowl of oatmeal. Yet, for many retirees who want to invest their savings in a safe, predictable place, that's just fine. Savers who shop around can earn about 5% on a one-year CD, and rates are expected...
Want an easy way to save more for retirement? Let someone else do it for you. Like many Americas, Amy Sadaune, vice president of human resources for First Community Credit Union in Houston, has her employer deposit a portion of her income into a 401k plan. But...
Byline: Phyllis Feinberg The nomination deadline is approaching for the 2005 Pensions & Investments/Workforce Management Eddy Awards. All nominations are due Oct. 15. The awards recognize corporate, public and union defined contribution plans that devised the best and most effective investment...
Byline: Phyllis Feinberg The floor is now open for nominations for the 2005 Pensions & Investments/Workforce Management Eddy Awards. The awards recognize corporate, public and union defined contribution plans that devised the best and most effective investment education programs in several...
Byline: Phyllis Feinberg Nominations are now being accepted for the 2005 Pensions & Investments/Workforce Management Eddy Awards. The competition recognizes corporate, public and union defined contribution plan sponsors for the best and most effective investment education programs in several categories. Nominations...
BOSTON -- Putnam Investments will pay $110 million to settle federal and state allegations of improper trading in the case that launched the scandal over so-called market timing in the mutual fund industry. Under the settlements announced Thursday, half the money -- $5 million in ill-gotten...
BOSTON -- Putnam Investments will pay $110 million to settle federal and state allegations of improper trading in the case that launched the scandal over so-called market timing in the mutual fund industry. Under the settlements announced Thursday, half the money -- $5 million in ill-gotten gains...
