US - Equity allocations in 401(k) schemes hit an historic low of just above 50% of portfolios in January, Hewitt Associates analysis reveals.
Over the course of the month, some US$79m was shifted out of equities to fixed income assets, although Hewitt said the shift away from equities was less pronounced than last year, despite falls on all major indices during the month.
Figures showed the S&P500 index fell 8.43%, while the Dow Jones Industrial Average fell 8.65%, the Russell 2000 declined 11.12% and the NASDAQ dropped 6.38%.
In terms of 401(k) investments, balanced funds also saw large outflows, with $69m transferred out over the course of the month, while international funds saw similar levels of outflows at $68 million.
Hewitt said company stock funds saw the biggest gains over January, with $65m of inflows, and GIC / stable value and bond funds saw inflows of $60m and $40m each.
During January, an average of 0.042% of 401(k) balances were transferred on a net daily basis, which was slightly lower than the trailing 12-month average of 0.052%.
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.