Products October 5, 2011

INTECH Introduces Absolute Volatility Equity Strategies

October 5, 2011 (PLANSPONSOR.com) - INTECH Investment Management LLC launched a suite of absolute volatility equity strategies.
 
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The suite offers institutional investors the potential for both equity-like and above-market returns, at lower volatility than is associated with capitalization-weighted equity indexes. These new strategies, Low Volatility and Managed Volatility, can be benchmarked to the Russell 1000 and MSCI World Indexes.

INTECH’s Low Volatility strategies seek to generate modest returns in excess of their respective cap-weighted benchmarks, over time, at significantly lower levels of absolute volatility and higher Sharpe Ratios. INTECH’s Managed Volatility strategies seek to generate more-aggressive returns in excess of their respective cap-weighted benchmarks, over time, at lower levels of absolute volatility and substantially higher Sharpe Ratios.

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Administration October 5, 2011

DoL Claims Nearly $2M Withdrawn Illegally from Plan

 

October 5, 2011 (PLANSPONSOR.com) -  The U.S. Department of Labor has filed a complaint in federal court against A.B.D. Tank & Pump Co. and Keith Davis, its president and owner, to restore more than $1.9 million to the company's retirement plan.

 

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The complaint alleges that Davis depleted the assets of the plan through a series of withdrawals and transfers to himself and the company from Dec. 4, 2006, through Nov. 3, 2010, in violation of the Employee Retirement Income Security Act (ERISA).

“By taking action here, we are underscoring the Labor Department’s commitment to hold accountable those who are entrusted with the assets of workers’ retirement plans,” said Phyllis C. Borzi, Assistant Secretary of the department’s Employee Benefits Security Administration (EBSA). “We will continue to help workers obtain their rightful benefits when plan fiduciaries violate the law.”

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The A.B.D. Tank & Pump Co. 401(k) & Profit Sharing Plan & Trust, a retirement plan for the company’s employees funded by employer contributions, was established in 1992. Davis is the plan’s trustee. The company is based in Elmhurst, Ill.

The complaint seeks the reversal of all prohibited transfers and the repayment of all losses, with interest, to the plan. The complaint also seeks to remove Davis as the plan’s trustee and permanently enjoin him from serving as a fiduciary or service provider to any employee benefit plan subject to ERISA.

The complaint alleges that Davis depleted the assets of the plan through a series of withdrawals and transfers to himself and the company from Dec. 4, 2006, through Nov. 3, 2010, in violation of the Employee Retirement Income Security Act (ERISA).

"By taking action here, we are underscoring the Labor Department's commitment to hold accountable those who are entrusted with the assets of workers' retirement plans," said Phyllis C. Borzi, Assistant Secretary of the department's Employee Benefits Security Administration (EBSA). "We will continue to help workers obtain their rightful benefits when plan fiduciaries violate the law."

The A.B.D. Tank & Pump Co. 401(k) & Profit Sharing Plan & Trust, a retirement plan for the company's employees funded by employer contributions, was established in 1992. Davis is the plan's trustee. The company is based in Elmhurst, Ill.

The complaint seeks the reversal of all prohibited transfers and the repayment of all losses, with interest, to the plan. The complaint also seeks to remove Davis as the plan's trustee and permanently enjoin him from serving as a fiduciary or service provider to any employee benefit plan subject to ERISA.

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