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Senate reduces pension smoothing measures for highway bill
trueThe Senate version of a highway funding bill approved Tuesday calls for less generous pension funding calculations for defined benefit plans than a House plan approved July 15.
Senate committee limits PBGC plant-closing authority
trueThe Pension Benefit Guaranty Corp. would have to use a narrower definition of pension liability rules in cases of corporate shutdowns under legislation approved Wednesday by the Senate Health, Education, Labor and Pensions Committee.
The Daily Show takes on pension smoothing
trueJon Stewart, on his “The Daily Show” on Comedy Central, discussed pension smoothing and how it helps the federal government raise tax revenue, Mr. Stewart concluded this is the first time he's heard smoothing used as a euphemism for sex.
Dodd-Frank critics mark anniversary with reform ideas
trueThe House Financial Services Committee wants to mark the fourth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act by repealing some provisions.
Moody's: Highway bill pension changes could mean $51 billion less in contributions
trueSponsors of defined benefit pension plans will be allowed to defer $51 billion in pension contributions under legislation approved July 15 by the House as part of the bill extending the Highway Trust Fund, according to an analysis by Moody's Investors Service.
House passes pension funding changes in Highway Trust Fund legislation
trueMore generous pension funding calculations for defined benefit plans were approved Tuesday by the House, 367-55, as part of legislation extending the Highway Trust Fund.
Senate's pension smoothing extension shorter than House proposal
trueThe Senate Finance Committee called for pension funding stabilization, or smoothing, as part of a funding package for the Highway Trust Fund approved Thursday.
Pension smoothing part of Highway Trust Fund deal
trueThe House Ways and Means Committee late Tuesday proposed pension smoothing as part of a funding package for the Highway Trust Fund, which is projected to run out of money within weeks.
States should step in to offer retirement options
trueBarbara Williams is a former aerospace worker in California who lost her piece of the American dream when that industry downsized. She lost her job, benefits and hope for a dignified retirement.
Illinois Supreme Court ruling could be omen for pension reform lawsuit
trueThe Illinois Supreme Court ruled Thursday that the state cannot diminish or impair health insurance premium subsidies for retired state employees.
House panel approves 2 bills to change FSOC authority
trueHouse Financial Services Committee approved two bills Friday that would change or delay efforts by the Financial Stability Oversight Council to identify emerging risks in the financial system. The 32-27 votes on each bill were split along party lines, with Republicans for and Democrats against ...
TVA falls through cracks as plan funding deteriorates
trueWith widespread improvements in pension plan funded levels reported for U.S. corporations, it was alarming to learn the Tennessee Valley Authority's pension plan was only 63% funded at the end of its fiscal year Sept. 30.
German lower house passes bill to raise pension benefits
trueGerman Chancellor Angela Merkel's coalition backed a €159 billion ($217 billion) pension package that boosts benefits for mothers and allows retirement at age 63 after a revolt in her Christian Democratic bloc faded.
Senate committee passes housing finance reform
trueThe Senate Banking, Housing and Urban Affairs Committee approved housing finance reform legislation Thursday that would close down Fannie Mae and Freddie Mac and create a new housing finance structure.
ERISA Industry Committee wants large DC plans exempt from fee-disclosure proposals
trueThe ERISA Industry Committee on Monday asked the Department of Labor to exclude large defined contribution plans from requirements in proposed regulations governing a guide to DC-plan fee disclosure.