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Chicago still needs to reform pension system
trueAfter finally tackling pension reform, Illinois legislators now need to figure out a way to help Chicago, which faces a steep increase in pension contributions in 2015.
Senate HELP Committee OKs pension funding relief bill for charities, rural co-ops
trueCharities and rural cooperatives got closer to pension funding relief Wednesday as the Senate Health, Education, Labor and Pensions Committee unanimously approved legislation co-sponsored by Chairman Tom Harkin, D-Iowa.
Union and retiree pressure mounting against multiemployer pension fund reform
trueA package of reform proposals to help the most troubled multiemployer pension funds is running into more opposition from some union and retiree advocates.
Indiana PRS wants more information on plea to quash annuity privatization
trueIndiana Public Retirement System, Indianapolis, on Friday asked a legislative committee for clarification on its recommendation against privatizing management of the retirement system's $5.5 billion annuity savings account.
A long history of reaction
trueThe history of U.S. pension legislation over the last four decades is largely one of playing catch-up.
Asset managers, foreign investors and the FCPA
trueWith assets totaling trillions of dollars, non-U.S. asset owners, including foreign pension plans and sovereign wealth funds, are fertile ground for investment managers to increase their assets under management. But they could also create unexpected and unwanted exposure to regulatory scrutiny.
California sues Labor Department for denying transit funding because of pension reform
trueCalifornia filed a lawsuit against the Department of Labor on Friday for “improperly denying federal grants to California public transit works after it erroneously concluded that the pension reforms constrain workers' collective bargaining rights, according to a news release from Gov. Edmund G. ...
Promoting pension reform
trueSince it began its pension project in 2007, the Pew Charitable Trust has shed considerable light, and focused needed attention, on the funding challenges of public employee retirement systems.
Congress must act to save multiemployer pension plans
trueRetirement security for millions of skilled American workers is at stake without Congress taking action to shore up multiemployer pension plans.
Derivatives tax proposal could have dire consequences
trueA draft proposal in Congress to change the taxation of financial products could affect pension funds and other tax-exempt institutional investors.
Shock awaits unprepared, thanks to Dodd-Frank
trueOn Sept. 9, some $2 trillion in corporate defined benefit pension plan assets, affecting approximately 20 million plan participants, will be subject to new regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Yet many plan sponsors are either ill-prepared or worse yet ...
DOL's Perez backs unions in pension melee
trueLabor Secretary Thomas Perez inherited a fight over workers' rights and California's pension reforms.
Employer groups push Obama administration for post-DOMA guidance
trueEmployer groups are pushing the Obama administration for guidance following the Supreme Court's June 26 decision that voided key provisions of the Defense of Marriage Act. That decision becomes effective July 22.
Senators introduce pension funding relief for charities, rural co-ops
trueCharities and rural cooperatives could get some pension funding relief under legislation introduced Tuesday by Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin, D-Iowa, and member Pat Roberts, R-Kan.
Illinois' governor suspends legislators' pay until pension bill passes
trueIllinois Gov. Pat Quinn acted on Wednesday to suspend the pay of state legislators until comprehensive pension reform is enacted, a day after lawmakers failed to deliver a bill to the governor by his self-imposed deadline.