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Lawmakers propose bill to end carried interest
truePrivate equity and other private fund managers would pay regular tax rates under a legislative proposal introduced Thursday that would end carried interest.
Senate panel offering no money for DOL fiduciary rule
trueA Senate Appropriations Committee budget bill approved Thursday doesn't allow any money for the Department of Labor to finalize its proposed fiduciary rule.
Teamsters, machinists, aerospace unions support bill to repeal multiemployer reforms
trueInternational Brotherhood of Teamsters endorsed legislation introduced Thursday that would repeal the Multiemployer Pension Reform Act of 2014.
Treasury Department preps regulations for implementing multiemployer law
trueThe Treasury Department on Wednesday released proposed and temporary regulations for implementing the Multiemployer Pension Reform Act of 2014, which among other things, allows severely distressed plans to reduce benefits and allows the Pension Benefit Guaranty Corp. to partition some plans to save ...
N.J. contribution ruling called "double-edged sword'
trueThe New Jersey Supreme Court's ruling that allowed the state to renege on a pension funding promise is seen as “a double-edged sword” by ratings agencies.
Nevada Assembly OKs retirement benefit changes
trueThe Nevada State Assembly passed a bill that would make changes to retirement ages and cost-of-living adjustments for certain participants in the $34.8 billion Nevada Public Employees’ Retirement System.
Senators urge caution on multiemployer cuts
trueDemocratic members of the Senate Finance Committee asked Treasury Department officials to tread carefully as they develop the process for implementing multiemployer pension reforms enabling some plans to cut benefits.
Pennsylvania Senate passes pension reform bill
trueThe Pennsylvania State Senate passed a pensions reform bill Wednesday that intends to update the funding, sustainability and fiscal responsibility of the state's two largest pension funds, said information on the Senate's website.
Colorado pension bond bill fails to clear Senate before session ends
trueA bill to issue pension obligations bonds for the $45 billion Colorado Public Employees' Retirement Association, Denver, is dead after it failed to clear both chambers before the legislative session ended.
House committee advances military pension reforms
trueThe House Armed Services Committee on Thursday passed a defense spending bill that includes reforms to the military retirement system that encourage defined contribution savings.
Rep. Crowley calls for universal retirement accounts
trueRep. Joseph Crowley, D-N.Y., laid out a sweeping proposal for increasing Americans' retirement savings and other long-term needs Tuesday.
CalPERS investment committee takes no position on coal divestment bill
trueThe CalPERS investment committee by an 11-1 vote Monday approved investment staff's recommendation to take no official position on state legislation calling on both the pension fund and CalSTRS to divest from investments in coal companies.
Global hunt for offshore tax cheats
trueToday, many financial institution executives and foreign governments might soon start feeling much the same way about the rising tide of FATCA — the U.S. Foreign Account Tax Compliance Act — which is finally reaching their shores after its initial enactment in 2010.
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.