Legal

Secretary of Labor Hilda L. Solis announced the appointment of five new members to the 2012 Advisory Council on Employee Welfare and Pension Benefit Plans, which also is known as the ERISA Advisory Council.

For the retirement industry, there wasnt much to gloat about in 2011. I hate to end the year on a sour note, and I know I'm not listing them all, but there are plenty of media missteps, lawmaker oversights, and plan misjudgments.

Citigroup sold off the last of its 8 million share stake in Primerica. Primerica was spun off in an initial public offering in April 2010. After that deal, Citigroup owned about 40 percent of Primerica common stock. In April 2011, Citigroup publicly sold 12 million shares of Primerica stock, reducing...

The American Society of Pension Professionals and Actuaries and the Council of Independent 401(k) Recordkeepers sent a letter to the Department of Labor requesting it extend the applicability dates of fee disclosure regulations that affect both plan sponsors and plan participants.

Wells Fargo & Co. announced it is buying EverKey Global Partners, an investment boutique that offers global equity strategies to institutional clients.

In a letter to the Federal Insurance Office today, the Insured Retirement Institute encouraged the FIO to focus on the insurance regulatory system in the context of the current state of retirement savings in America and the need for consumers to insure against the risk of outliving their assets as...