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2 senators call for derisking rules
trueSenate Finance Committee Chairman Ron Wyden, D-Ore., and Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin, D-Iowa, want federal regulators to set clear guidelines for employers undertaking pension derisking.
Retirement tax incentives called 'out of whack'
trueSenate Finance Committee Chairman Ron Wyden, D-Ore., said at a hearing Tuesday that “something is out of whack” between the $140 billion in annual tax subsidies for retirement savings and the number of people who don’t have enough saved for retirement.
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 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.
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.
Hedge funds, banks come under fire for basket options
trueRenaissance Technologies, Barclays Bank PLC, and Deutsche Bank AG were criticized for misusing structured financial products to avoid taxes and banking leverage limits.
SEC investigating hedge funds in House committee insider-trading probe
trueSome of the country’s largest hedge funds are being investigated by the SEC as part of an insider-trading probe.
House passes pension funding changes in Highway Trust Fund legislation
trueMore generous pension funding calculations for defined benefit plans were approved Tuesday by the House, 367-55, as part of legislation extending the Highway Trust Fund.
Senate's pension smoothing extension shorter than House proposal
trueThe Senate Finance Committee called for pension funding stabilization, or smoothing, as part of a funding package for the Highway Trust Fund approved Thursday.
House panel approves 2 bills to change FSOC authority
trueHouse Financial Services Committee approved two bills Friday that would change or delay efforts by the Financial Stability Oversight Council to identify emerging risks in the financial system. The 32-27 votes on each bill were split along party lines, with Republicans for and Democrats against ...
FSOC hears from money managers, House critics on systemically important designations
trueFinancial Stability Oversight Council should “cease and desist” its review of money managers and other financial institutions that might be designated systemically important, House Financial Services Committee Chairman Jeb Hensarling, R-Texas, said Tuesday at a hearing on the designation process.
Sen. Rubio calls for opening TSP to private workers
trueThe $403.9 billion Thrift Savings Plan, Washington, should be open to non-governmental employees who do not have access to workplace retirement savings, Sen. Marco Rubio, R-Fla., proposed Tuesday.
Rep. Roe wins public service award for multiemployer pension reform efforts
trueRep. Phil Roe, R-Tenn., received the International Foundation of Employee Benefit Plans' Public Service Award on Tuesday.
House passes Ryan budget with higher federal pension contributions
trueThe House of Representatives approved a fiscal 2015 federal budget Thursday that reduces corporate and personal tax rates and raises federal employees' pension contributions.