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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.
Illusionary retirement accounts
trueAs currently conceived, myRA helps people start saving now. What is missing is help to encourage them to save even more later.
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.”
Obama, Treasury detail new MyRA savings plan
truePresident Barack Obama directed the Treasury Department on Wednesday to create the “MyRA” retirement savings bond program mentioned in his State of the Union address Tuesday night to reach low- and middle-income workers and others not saving for retirement.
Obama to propose new retirement plan in State of the Union
trueRetirement security for workers without access to workplace retirement savings plans will be part of President Barack Obama's State of the Union address Tuesday night, according to sources familiar with the proposal.
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.
White House names Federal Reserve candidates
truePresident Barack Obama picked Stanley Fischer and Lael Brainard as his nominees to serve on the Federal Reserve board of governors, the White House announced Friday. Mr. Obama also said he would nominate current governor Jerome Powell for a second term.
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.