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Ways and Means committee chairman wants carried interest tax rate eliminated
trueHouse Ways and Means Chairman Dave Camp, R-Mich., on WednesdayFeb. 26 unveiled a draft proposal for comprehensive tax reform that calls for eliminating private equity firms’ carried interest tax rate and trims tax advantages of retirement savings for higher-income workers.
Companies bracing for 1-2 retirement punch
trueDespite the growing drumbeat in Washington to stimulate more retirement savings, the prospect for real change is dim, and retirement plan sponsors are braced for more bad news from Congress and the White House.
Retirement: A welcome focus from the State of the Union
trueNot too long ago, talk of a retirement crisis, the reaction, more often than not, was “I'll believe it's a crisis when people start acting like it's a crisis.”
Harkin's universal retirement plan called a good start despite some hurdles
trueAn ambitious idea for a universal retirement program introduced Jan. 30 by Sen. Tom Harkin, D-Iowa, is being welcomed for advancing a national debate on ways to improve retirement security, but it faces an uphill climb in Congress.
Universal retirement legislation submitted by Harkin
trueSen. Tom Harkin, D-Iowa, introduced legislation Thursday that would make universal retirement coverage available to an estimated 75 million Americans who are without access to workplace retirement plans or are self-employed.
FSOC critics get some Senate backing
trueMoney managers critical of Financial Stability Oversight Council efforts to designate some of their firms as systemically important got bipartisan support from several senators Thursday.
No new PBGC premium hikes in spending bill
trueHouse and Senate appropriators produced an omnibus spending bill late Monday that funds the U.S.government through September without another hike in PBGC premiums or other surprises.
Senate passes budget deal
trueThe Senate late Wednesday passed a two-year budget deal that calls for raising premiums paid to the PBGC and increasing federal employee retirement contributions to help offset spending hikes.
Federal budget deal stirs fight over pension costs
trueA tentative federal budget agreement struck late Tuesday has groups representing retirement plan sponsors and federal workers gearing up for a fight over pension costs.
Budget deal includes pension provisions
trueU.S. budget negotiators have reached agreement on a deal that includes raising the contributions that federal employees make to their retirement plans and increasing premiums for pensions backed by the Pension Benefit Guaranty Corp.
Senators urge action on discrimination testing rules for defined benefit plans
trueSens. Ben Cardin, D-Md., and Rob Portman, R-Ohio, are urging Treasury officials to help defined benefit plan sponsors deal with non-discrimination rules that could prompt more soft-frozen plans that are closed to new participants to be frozen.
Senate panel approves Yellen as Fed leader
trueJanet Yellen was approved by the Senate Banking Committee on Thursday to serve as chairwoman of the Federal Reserve for four years.
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.
Budget, debt ceiling gridlock not worrying investors ... yet
trueAs Washington policymakers deal with the deadline dramas of an expiring budget resolution and the federal debt ceiling, money managers and their institutional clients are taking it all in stride.