INCLUDING: US - Bill to broaden 401(k) fee disclosure; JAPAN - Markets to rise; UK - New CEO for BP fund;
US – Bill to broaden 401(k) disclosure
Legislation has reportedly been introduced to broaden fee disclosure requirements for 401(k) plans and require each plan to include at least one lower-cost, balanced index fund in its investment line up.
The ruling would require service providers to annually disclose all fees charged to plan participants, as well as potential conflicts of interest.
JAPAN –Markets to rise
Edwin Merner, president of Atlantis Investment Research Corporation, has predicted the Japanese stock market will rise on the back of increased domestic investor confidence.
While many commentators have raised concerns that the upcoming election for the upper house on 29 July, in which the ruling Liberal Democratic Party is expected to do badly, will panic overseas investors, Merner said the impact would be short term.
UK- New CEO for BP fund
Sally Bridgeland has taken over as chief executive officer of BP Pension Trustees Limited which manages the £13 billion BP Pension Fund.
Her appointment comes after the fund’s former head of investment, Colin Maltby, retired from the organisation.
This week's edition of Professional Pensions is out now
Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.
The aviation sector's constant evaluation of mistakes to improve safety should be applied to defined benefit schemes, as too many are making the same mistakes again and again, latest research shows.
A month of strikes are due to hit 64 universities from tomorrow over major reforms to the Universities Superannuation Scheme (USS).