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Treasury Department starting unit that includes oversight of public pension funds
trueThe Treasury Department is creating an Office of State and Local Finance to coordinate the department's efforts to oversee developments in state and local financial markets, including public pension fund liabilities.
PIMCO emerging markets co-head nominated for Treasury post
trueRamin Toloui was nominated by President Barack Obama on Thursdayto serve as the Treasury Department's deputy undersecretary for international finance, according to a White House statement.
Treasury and IRS offer rollover relief
trueThe Treasury Department and Internal Revenue Service issued guidance Thursday that removes a cumbersome step sponsors of retirement plans must take when accepting rollovers from other employers' plans. The change applies to any qualified plan, including defined benefit, defined contribution, ...
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.
Taper decision may boost interest in fixed income
trueMoney managers' response to the Federal Reserve's decision to cut its monthly bond purchases to $75 billion in January from $85 billion is much more optimistic than it was when the topic first was broached.
Floating-rate securities gain more attention
trueInstitutional investors' appetite for floating-rate securities is growing, and they are eagerly anticipating the U.S. Treasury Department's January auction of floating-rate notes.
Treasury: Default could be 'catastrophic,' lead to financial crisis
trueAn extended government shutdown could make the American economy “even more susceptible” to adverse effects from a debt ceiling impasse, officials at the Treasury Department warned in a report released Thursday.
Government report says managers could hurt economy
trueThe Treasury Department said money managers could pose threats to the U.S. financial system when reaching for higher returns, herding into popular asset classes or amplifying price movements with leverage.
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.
Treasury urged bailout funds to Delphi pensions, watchdog says
trueThe U.S. government urged General Motors Co. to improve pensions of some Delphi Automotive union retirees while cutting those of salaried workers to help ensure a speedy emergence from a GM bankruptcy, the watchdog of the Troubled Asset Relief Program said.
SPARK Institute joins chorus of calls to recognize 'state of celebration'
trueThe SPARK Institute on Thursday asked the departments of Labor and Treasury to issue regulations allowing defined contribution plans to determine a participant's marital status based on “state of celebration” — where people were married — rather than “state of domicile” — where married partners ...
Marathon liquidated PPIP fund after earning Treasury 25% return
trueMarathon Asset Management, one of nine firms selected in the credit crisis to manage a government-subsidized program to revive the mortgage-bond market, liquidated its fund after handing the U.S. Treasury a 25% return.
Fiscal debt drama has chill for markets
truehe following comments were overheard at a recent meeting of Debt-aholics Anonymous.
Treasury yields fall from nine-month highs as economy contracts
trueTreasury 10-year yields fell from the highest level in nine months after a government report showed the U.S. economy unexpectedly contracted in the fourth quarter.