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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.
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.
Immediate multiemployer reforms urged
trueThe increasing risk that some multiemployer pension funds will be insolvent is putting pressure on lawmakers to enact some sweeping reforms in the final days of the 113th Congress before their scheduled adjournment Dec. 11.
House approves 529 plan model for savings accounts for disabled people
trueLegislation creating tax-free savings accounts for people with disabilities was approved by the House on Wednesday.
House votes to extend multiemployer pension provisions
trueMultiemployer pension provisions in the Pension Protection Act of 2006 set to expire Dec. 31 would gain another year in a tax extension passed by the House Wednesday.
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.