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DC execs expecting big changes from Obama push on fiduciary standard
trueWith President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.
Obama pushes for new fiduciary standard
truePresident Barack Obama called for a new fiduciary standard proposal from the Department of Labor to protect middle-class retirement savers that he said are being hurt by some advisers' conflicts of interest.
Fee on leverage misguided
truePresident Barack Obama's proposed financial fee on leverage that would apply to large investment management firms as well as other large financial institutions won't enhance market stability as it supposedly is designed to do.
President Obama proposes more retirement plan access, cap on tax savings
truePresident Barack Obama's fiscal year 2016 budget proposal released Monday calls for expanding access to retirement savings in the workplace while capping the tax-favored accumulation of all private retirement assets.
Obama tax proposals may be DOA
truePresident Barack Obama's State of the Union speech Jan. 20 mentioned only broadly his vision for helping middle-class workers save more for retirement, but he's poised to submit proposals to Congress on Feb. 2 as part of his fiscal 2016 budget.
Obama leaves retirement issues out of speech, but proposals loom for budget address
trueWhile President Barack Obama spoke in only broad strokes in his State of the Union speech Tuesday about his vision for helping the middle class save more for retirement at work, and for rebalancing a tax code that he said favors the wealthy, industry sources questioned the necessity of some ...
MetLife appeals to federal court to overturn SIFI designation
trueMetLife Inc. asked a federal court on Tuesday to overturn its designation as a non-bank systemically important financial institution by the Financial Stability Oversight Council.
Retirement, financial groups assail proposed regulations on fee-disclosure guide for DC plans
trueEleven organizations representing retirement and financial industries have asked the federal government to reconsider proposed regulations outlining how service providers should create a fee-disclosure guide for defined contribution plans.
Comerica chosen as myRA custodian
trueComerica will serve as custodian for the Treasury Department’s upcoming “myRA” retirement savings bond program, which is being rolled out in phases.
Comerica picked as custodian for Treasury's myRA retirement program
truestrong>Comerica was picked to help manage a retirement savings program President Barack Obama announced earlier this year in an effort to help Americans who don't have 401(k) 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.
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.
Misguided search for revenue
trueThe federal government's appetite for more revenue to feed an expanding federal budget threatens to jeopardize retirement income security.
Changes announced for ERISA Advisory Council
trueSecretary of Labor Thomas Perez named five new members of the Department of Labor ERISA Advisory Council.
Obama's 2015 budget limits retirement tax deductions, increases PBGC premiums
truePresident Barack Obama's 2015 federal budget, unveiled Tuesday, calls for a 28% limit on retirement-related tax deductions and an overall cap on all retirement accounts, including pensions, that could bring in $1 billion per year in new tax revenue.