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trueLitigation, regulation, legislation and some consternation emerged as dominant themes at the annual Pensions & Investments' East Coast Defined Contribution Conference, held March 1-3 in Miami.
DC execs expecting big changes from Obama push on fiduciary standard
trueWith President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.
Obama pushes for new fiduciary standard
truePresident Barack Obama called for a new fiduciary standard proposal from the Department of Labor to protect middle-class retirement savers that he said are being hurt by some advisers' conflicts of interest.
State private retirement programs get help from president
truePrivate-sector retirement solutions programs at the state level are getting a boost from the White House.
U.S. Chamber of Commerce warns of fiduciary rule overkill
trueA new fiduciary rule proposal expected shortly from the Department of Labor could have negative unintended consequences, said benefits policy experts at a U.S. Chamber of Commerce forum Friday.
DOL rule for plan funding notices applies to single-employer plans for first time
trueSingle-employer defined benefit plan sponsors covered by ERISA have new guidelines for annual funding notices in a final rule published Monday by the Department of Labor's Employee Benefits Security Administration.
Plan funding notices to apply to single-employer plans for first time; final rule expected Feb. 2
trueSingle-employer defined benefit plan sponsors covered by ERISA will have new guidelines for annual funding notices when the Department of Labor's Employee Benefits Security Administration publishes a final rule Feb. 2.
DOL feeling heat on QPAM exemptions
trueThe Department of Labor is under increasing pressure to get tough on money managers with U.S. retirement plan clients when their firm, or an affiliate, gets into legal trouble.
Fiduciary breach issue gets Supreme Court hearing
trueThe U.S. Supreme Court is scheduled to hear arguments next month in an ERISA case that could greatly expand guidelines for defined contribution plan executives' fiduciary responsibilities.
Groups oppose CSAM bid to continue money management in U.S.
trueSeveral financial watchdog groups opposed Credit Suisse Asset Management's bid to continue providing money management services to retirement plans in the U.S.
Treasury's Iwry says department looking into guaranteed withdrawal products for DC
trueNew Treasury Department rules on using deferred annuities within target-date funds as part of a defined contribution plan shouldn’t be viewed as excluding the department’s consideration of other lifetime income options in those plans, said J. Mark Iwry, deputy assistant secretary for retirement and ...
Retirement, financial groups assail proposed regulations on fee-disclosure guide for DC plans
trueEleven organizations representing retirement and financial industries have asked the federal government to reconsider proposed regulations outlining how service providers should create a fee-disclosure guide for defined contribution plans.
Lifetime income option use gets boost
trueNew guidance from the IRS and Department of Labor on using annuities in target-date funds will encourage greater use of lifetime income options in defined contribution plans.
Labor secretary names 5 to ERISA Advisory Council
trueSecretary of Labor Thomas Perez named five new members to the Department of Labor ERISA Advisory Council.
Proposed Congress spending bill allows some multiemployer plans to cut retiree benefits
trueControversial reforms for multiemployer pension funds will be part of a congressional spending deal set for a final vote Thursday.