DC I-O Dispatches
Class-action lawyers filed
a $300-million lawsuit against a jumbo 401(k) plan sponsor over the performance of the target date funds (collective trusts, not mutual funds) in the plan. One of the plaintiff's attorneys explained
how the lawsuit came about.
On July 31, after more than three decades in the industry, a top executive retired
from a $17-billion-AUM asset manager specializing in stable value.
A DC SVP recently left Pimco
after two years with the bond fund giant.
Nine years in, a DC I-O VP recently left American Century
A big open architecture recordkeeper will add Russell Investments' PRAs
as the first offering on a platform thanks to a new tech connection
| George Philip Waldeck, Jr.|
On December 1, Prudential Retirement's
chief will pass
the reins while rising to lead Prudential Financial's Workplace Solutions Group (which includes both retirement and group insurance).
On September 9, a new chief product officer will join Empower Retirement
new retirement plan chief, who also recently picked
his new distribution chief.
, an independent broker-dealer network with more than 4,000 FAs, teamed up
with an open-architecture recordkeeper for a bundled 401(k) product.
On August 9, Ascensus' FuturePlan
again near Phoenix.
A benchmarking firm launched
a dashboard for 401(k) plan advisors (KPAs), and a KPA-focused RIA/OSJ signed on as the debut client.
On Monday, U.S. President Donald Trump made his next DoL chief pick official
by announcing his intent to nominate.
Last week, four KPAs and two retirement-focused fintech entrepreneurs won
the first ever DC Genie Awards
, from 401kTV
On August 19, a new retirement chief joined
one of the wirehouses.
As always, this edition of MFWire's Fundster 401k Roundup
column is powered by our DC-focused sister publication, 401kWire.
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