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Alliant Techsystems has no plans to replace CIO
trueAlliant Techsystems Inc. has no current plans to replace Judith Mares, former vice president and chief investment officer who left to become political deputy assistant secretary of labor for the Employee Benefits Security Administration.
Fed doesn't change interest rates, quantitative easing
trueDespite seeing signs of “growing underlying strength” and diminished downside risk in the economy, members of the Federal Open Market Committee meeting in Washington on Wednesday decided to make no changes to their $85 billion-per-month bond purchase program, and to keep a low federal funds rate of ...
Obama nominates Janet Yellen to lead Federal Reserve
truePresident Barack Obama nominated Janet Yellen on Wednesday to chair the Federal Reserve when the term of current Chairman Ben Bernanke ends in January.
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.
EBRI: Retirement savings incentive change would hurt participants as interest rates rise
trueA White House proposal to cap the tax incentives available through retirement savings plans will negatively effect more defined contribution participants as interest rates recover from historically low levels, according to an analysis released Monday by the non-partisan Employee Benefit Research ...
Consonance Capital Partners founders reunited with former Obama staffer
trueNancy-Ann DeParle, former assistant to President Barack Obama and deputy chief of staff for policy, was named partner at private equity firm Consonance Capital Partners.
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.
Senate confirms Perez as labor secretary
trueThomas E. Perez was confirmed as secretary of labor by the Senate on Thursday by a vote of 54-46.
Protecting retirement for our country's educators
trueDoes a greater number of investment providers result in better outcomes for 403(b) plan participants?
Taxing pensions and 401(k)s
truePresident Barack Obama's federal budget proposal to restrict accumulations in retirement programs would, if enacted, affect in a direct way only a very few participants, but would undermine the pension system and hurt all participants in it.
Obama budget to cap retirement deductions
trueThe retirement- and investment-related tax proposals in President Barak Obama's fiscal 2014 budget are bargaining chips in the administration's battle with Republicans, Washington insiders say.
Obama 2014 budget calls for carried interest rate elimination, retirement savings cap
truePresident Barack Obama's fiscal 2014 budget proposal unveiled Wednesday repeated calls for reducing tax incentives for retirement savings on higher income taxpayers with a new call to cap individual retirement accounts at $3 million.
White House expected to give labor secretary nod to civil rights attorney
trueThe White House is expected to name civil rights attorney Thomas E. Perez as secretary of the Department of Labor this week.
Distressed multiemployer plans show progress, but 'substantial percentage' still in peril — GAO study
trueSeverely distressed multiemployer plans have made progress in solving their funding problems, but “a substantial percentage” of them do not expect to return to a healthier funded status, a Government Accountability Office expert told a congressional panel Tuesday.
ICI survey: Americans back tax breaks for defined contribution plans
trueJust as President Barack Obama is calling on Congress to close tax loopholes and deductions to reduce the deficit, Investment Company Institute is touting a survey that shows a majority of Americans don't want lawmakers to change tax incentives for retirement savings.