Legal

A Calpers board member from 1993 to 1995, Alfred Villalobos allegedly acted as a placement agent in helping Apollo Global Management to secure investments by Calpers in 2007 and 2008, prosecutors said.

After eight years of legal wrangling, a trial date been set for the thousands of Lockheed 401(k) participants suing their employer for alleged breach of fiduciary duty.

The added disclosure could foster competition by helping investors understand what they are being charged by their brokers.

The agency is said to be undertaking a review of qualified default investment alternatives in 401(k) plans.

The Senate for a time threatened to scrub the pension-smoothing provision in the House version of the legislation. But it ultimately opted to allow the provisions inclusion.

ESOPs continue to be an attractive option for business owners looking to sell all or a portion of their company as part of their overall financial plan.