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House budget calls for higher federal employee contributions and lower G Fund return
trueThe House adopted a fiscal year 2016 budget Wednesday that calls for higher retirement contributions from federal workers and a lower rate of return for the Thrift Savings Plan's G Fund.
More transparency sought at FSOC
trueMembers of the Senate Banking, Housing and Urban Affairs Committee pressed for more transparency at the Financial Stability Oversight Council during a hearing Wednesday.
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.
Banks join technology chiefs to press Congress for cybersecurity bill
true.P. Morgan Chase, Lockheed Martin and Microsoft are among 32 technology, banking and retail companies urging lawmakers to pass legislation that provides legal protection for sharing hacking threats.
Pension cuts? All I worked "now was for nothing'
truePension cuts? All I worked "now was for nothing'
2 multiple employer plan bills introduced
trueMultiple employer plans could be a more viable option for smaller employers and service providers under bipartisan legislation introduced Thursday in the House and Senate.
Hatch lays out retirement savings agenda for Senate Finance Committee
trueTax reform that includes a broader base and lower rates, and new retirement savings incentives, will be top priorities of the Senate Finance Committee, incoming Chairman Orrin Hatch, R-Utah, said Tuesday at the U.S. Chamber of Commerce.
ERISA Industry Committee names new CEO
trueAnnette Guarisco Fildes was named CEO of the ERISA Industry Committee Monday.
Investors, companies to fight over who pays litigation fees
trueBattle lines are being drawn over last year's Delaware court ruling that lets companies shift legal fees to investors bringing lawsuits.
Ontario requiring all DB funds to disclose ESG data
trueA regulation enacted by the Ontario Parliament late last year will require trustees of all occupational defined benefit pension plans in the province to disclose whether environmental, social and governance factors are incorporated in the pension fund’s investment policies and procedures.
Congress did the right thing to protect multiemployer plans
trueCongress made the right decision to allow severely financially distressed multiemployer pension plans to cut retiree benefits.
Multiemployer plans can cut benefits to stay solvent
trueTrustees of distressed multiemployer pension funds got new tools to avert insolvency in a package of reforms approved by Congress in mid-December, including the right to reduce benefits for active workers and retirees in deeply underfunded plans.
Senate follows House in passing bill allowing relief for multiemployer plans
trueStruggling multiemployer pension funds will be able to reduce retiree benefits under legislation that received final Senate approval Saturday as part of a congressional spending package already approved by the House.
Sen. Patty Murray to become ranking HELP Committee member
trueSen. Patty Murray, D-Wash., will become ranking member of the Senate Health, Education, Labor and Pensions Committee when the 114th Congress convenes in January.
House passes multiemployer pension reform
trueThe House approved late Thursday a package of reforms available to struggling multiemployer pension funds, as part of a congressional spending deal that the Senate must vote on by Saturday.