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Fixing MyRA and a TSP fund
trueMyRA, the federal government's just-launched program to encourage workers without access to a workplace retirement plan to begin saving for retirement, gets off on the wrong foot and should be changed.
ERISA Industry Committee asks IRS, Treasury for lump-sum clarifications
trueThe ERISA Industry Committee on Thursday asked officials at the Department of Treasury and the IRS to clarify their July 9 decision to no longer permit lump-sum payments to people already receiving benefits.
Washington officials call for new retirement ideas
trueThe number of people being offered retirement savings plans at work has not improved since passage of the Employee Retirement Income Security Act of 1974, Assistant Secretary of Labor Phyllis Borzi said .
Investors concerned about future amid debt ceiling drama
trueAs Washington policymakers face a looming deadline to avoid breaching the federal debt ceiling on Nov. 3, investors are calmer than they were during a similar scenario in 2013 but more concerned about the country's long-term fiscal health.
Debt limit deadline now Nov. 3, Treasury secretary says
trueThe U.S. government will hit its debt limit no later than Nov. 3, Treasury Secretary Jacob Lew said in a letter to Congress Thursday, calling on lawmakers to raise the debt ceiling “without delay.”
China connection? Investors need clarification
trueInstitutional investors must have scratched their heads at the remarks of Jacob J. Lew, secretary of the Treasury Department, a few weeks before the beginning of the recent turmoil in the markets.
Money laundering safeguards being extended to managers
trueHedge fund and other private fund managers will have to revisit whether they know enough about their clients under recently proposed anti-money laundering rules, experts said.
Treasury Secretary Lew backs Puerto Rico bankruptcy protection
trueTreasury Secretary Jacob Lew supports allowing Puerto Rico to access Chapter 9 bankruptcy protection as the commonwealth struggles to deal with $72 billion in debt.
Dodd-Frank five years later
trueIt's been five years since President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, a far-reaching law enacted in the wake of the 2008 financial crisis that aimed to stave off future economic meltdowns.
Federal agencies report finds high-frequency trading a factor in October 'flash crash'
trueThe “flash crash” in U.S. Treasuries on Oct. 15, 2014, came from several factors, including high-frequency trading.
GE will seek to reverse FSOC designation
trueGeneral Electric Co. will seek to undo designation as a systemically important financial institution after it completes the sale of its lending business GE Capital, which it announced April 10.
Treasury Department, IRS release guidance to correct auto-enrollment errors
trueThe Treasury Department and the IRS on Thursday announced new guidance to defined contribution plans offering auto-enrollment features that will make it easier for the plans “to easily correct administrative errors without risking the plan’s tax qualification and without having to obtain IRS ...
DC East conference themes focus on litigation, regulation, cybersecurity threats
trueLitigation, regulation, legislation and some consternation emerged as dominant themes at the annual Pensions & Investments' East Coast Defined Contribution Conference, held March 1-3 in Miami.
Multiemployer plans untangle reforms
trueSome multiemployer pension fund executives are trying to figure out whether to take advantage of a controversial new reform law that allows potential benefit cuts for participants and retirees. Others are hoping for further reforms to allow for alternative plan designs.
FSOC moves toward more transparency
trueThe Financial Stability Oversight Council agreed Wednesday to bring more transparency to its process for determining whether non-bank financial institutions are systemically important to the country’s financial stability.