Robert Steyer

New York

Reporter at Pensions & Investments

Robert Steyer is a Reporter at Pensions & Investments (http://t.co/BA29NQf4) covering Defined Contribution.

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Articles

NYC pension system sells $5 billion in private equity assets on the secondary market, shedding "noncore" managers and streamlining portfolio

1 week ago | pionline.com | Robert Steyer

Breadcrumb Home Pension Plans May 29, 2025 03:56 PM Tweet Share Share Email More Reprints Print Steven Meier The New York City pension system’s recent sale of $5 billion in private equity assets on the secondary market represents streamlining of investments, reducing “noncore” asset managers and getting some PE investments made nearly 20 years ago off the books — “a strategic alignment of our portfolio,” CIO Steven Meier said in a May 29 interview. “We are focusing on our strongest managers,”...
A federal appeals court rules for Intel's use of alternatives in retirement plans, rejecting an ERISA lawsuit

2 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home DEFINED CONTRIBUTION May 27, 2025 07:01 AM Tweet Share Share Email More Reprints Print Getty Images/iStockphoto A federal appeals court in San Francisco has supported Intel Corp. in a long-running dispute over its inclusion of alternative investments in its two retirement plans.
UnitedHealth Group hit with 2 lawsuits alleging mismanagement of forfeited 401(k) funds

2 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home COURTS May 23, 2025 02:20 PM Tweet Share Share Email More Reprints Print UnitedHealth Group has been served with two lawsuits from different plaintiffs and different law firms with the same allegations: The company’s 401(k) plan misused employer matching funds forfeited by employees who left the company before they were fully vested.
Former employees sue Cigna's 401(k) plan fiduciaries for misusing forfeited employer match money

2 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home COURTS May 22, 2025 09:41 AM Tweet Share Share Email More Reprints Print Getty Images Two former Cigna Group employees have sued the company’s 401(k) plan fiduciaries, alleging plan executives violated federal law by placing corporate interests ahead of participants’ interests.
TIAA, fiduciaries hit with lawsuit alleging excessive fees, poor investments in retirement plans

2 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home DEFINED CONTRIBUTION May 21, 2025 02:21 PM Tweet Share Share Email More Reprints Print A former employee has sued TIAA and fiduciaries of two of its retirement plans alleging their offering of poor-performing proprietary investments with excessive fees violated federal law.
Private markets haven't cracked the 401(k) code. Empower thinks it's found a way.

2 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home ALTERNATIVES May 21, 2025 02:35 PM Tweet Share Share Email More Reprints Print Getty Images Empower’s decision to offer alternatives investments to defined contribution participants faces challenges in an industry that, researchers and consultants say, avoids such investments due to concerns about cost, transparency, liquidity and participant interest.
Intuit to pay $2 million to settle ERISA lawsuit claiming it misused forfeited funds in 401(k) plan

3 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home COURTS May 19, 2025 07:01 AM Tweet Share Share Email More Reprints Print Bloomberg Intuit Inc. will pay $2 million to settle a lawsuit by a former employee that the company and its 401(k) plan fiduciaries violated federal law by failing to reduce plan expenses via company matching funds that were forfeited by participants who left Intuit before being fully vested.
DC plans try to retain retirees, ex-employees' assets to gain more bargaining power - Callan

3 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home DEFINED CONTRIBUTION May 16, 2025 08:01 AM Tweet Share Share Email More Reprints Print Getty Images/iStockphoto Defined contribution executives are trying to bulk up their plans by encouraging participants to keep their assets in the plans after they retire and to roll in retirement accounts from former employers, according to the latest annual survey of DC plan behavior from Callan published May 14. The strategies are designed to give plan sponsors more assets for greater...
Annual DC plan survey shows sponsors don't want alternatives investments in their target-date funds

3 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home DEFINED CONTRIBUTION May 15, 2025 12:32 PM Tweet Share Share Email More Reprints Print Callan Despite aggressive efforts by money managers to include alternatives investments in defined contribution retirement plans, DC sponsors show little interest in offering alternatives within target-date funds.
Red Cross agrees to pay $950,000 to settle claims it mismanaged 401(k) plan

3 weeks ago | pionline.com | Robert Steyer

Breadcrumb Home DEFINED CONTRIBUTION May 12, 2025 02:47 PM Tweet Share Share Email More Reprints Print Getty Images American Red Cross national headquarters in Washington American National Red Cross has agreed to pay $950,000 to settle a lawsuit by former employees who accused the organization and its fiduciaries of mismanaging a 401(k) plan by retaining poor-performing investments and failing to control record-keeping expenses. The class-action settlement, which could affect 20,000...

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Robert Steyer @Steyer_PI

12 Dec 22

DOL defends subpoenaing participant information after trade groups raise alarms https://t.co/64cLZkm1Iq via @pensionsnews

Robert Steyer @Steyer_PI

12 Dec 22

Rare legal strategy used to encourage ERISA dismissals https://t.co/hcmslNQ9I7 via @pensionsnews

Robert Steyer @Steyer_PI

12 Dec 22

Research shows many ERISA complaints avoid dismissal https://t.co/xryrluaWf1 via @pensionsnews

Robert Steyer

Articles

NYC pension system sells $5 billion in private equity assets on the secondary market, shedding "noncore" managers and streamlining portfolio

A federal appeals court rules for Intel's use of alternatives in retirement plans, rejecting an ERISA lawsuit

UnitedHealth Group hit with 2 lawsuits alleging mismanagement of forfeited 401(k) funds

Former employees sue Cigna's 401(k) plan fiduciaries for misusing forfeited employer match money

TIAA, fiduciaries hit with lawsuit alleging excessive fees, poor investments in retirement plans

Private markets haven't cracked the 401(k) code. Empower thinks it's found a way.

Intuit to pay $2 million to settle ERISA lawsuit claiming it misused forfeited funds in 401(k) plan

DC plans try to retain retirees, ex-employees' assets to gain more bargaining power - Callan

Annual DC plan survey shows sponsors don't want alternatives investments in their target-date funds

Red Cross agrees to pay $950,000 to settle claims it mismanaged 401(k) plan

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