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FSOC process necessary, Dodd says
trueThe Financial Stability Oversight Council's mission to identify systemically important non-bank financial institutions is necessary, former Sen. Christopher J. Dodd said Tuesday at an event marking the fourth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
GOP Congress might revisit tax incentives for retirement plans
trueAs Republicans prepare to take control of the 114th Congress in 2015, their agenda could change the tax incentives for retirement plan sponsors and participants. Money managers could also see changes if the new Congress revisits much-criticized financial regulation.
ERISA at 40: Stewards reflect on good, bad
trueReflecting back on ERISA's first 40 years, the people who've administered it say there were some hits and some misses.
Political groups appeal SEC pay-to-play rule
trueA federal limit on political contributions by money managers doing business with public pension funds is working so well that some political groups are continuing to challenge it in court.
DC plans can expect little from Washington, conference attendees told
trueDefined contribution plan executives have many opportunities to encourage participants to save more for retirement without needing extra legislation or regulation. And even if they wanted more rules and laws, there’s little chance significant legislation or regulation affecting the retirement plans ...
FSOC considers designating MetLife as systemically important
trueMetLife Inc. should be designated a systemically important financial institution, members of the Financial Stability Oversight Council voted Thursday in a closed meeting.
ERISA at 40
trueWhile the Employee Retirement Income Security Act of 1974 benefited millions of people, it did not live up to the “retirement income security” part of its name. Along with praise for what ERISA did accomplish, there are now calls for fixing what it did not.
ERISA architect Nagle praised as intelligent, fair
trueRobert E. Nagle, one of the architects of the Employee Retirement Income Security Act of 1974 who died Aug. 16, is remembered by colleagues as a good, kind, competent man whose knowledge and fairness in the employee benefits field was unmatched.
Water legislation might make splash with investors
trueA new federal law enacted in June could open a channel for a boatload of water infrastructure projects in which institutions might be interested.
Senate passes House version of highway bill
trueThe U.S. Senate approved on Thursday the House version of a highway funding bill that includes more generous pension funding calculations.
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.