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IRS, Treasury release final hybrid plan rules
trueThe Treasury Department and the IRS finalized regulations for hybrid retirement plans such as cash balance plans that have been pending since 2010.
ERISA at 40
trueWhile the Employee Retirement Income Security Act of 1974 benefited millions of people, it did not live up to the “retirement income security” part of its name. Along with praise for what ERISA did accomplish, there are now calls for fixing what it did not.
Lessons learned from ERISA
trueERISA was a farsighted law in many aspects, especially in defining and assigning fiduciary responsibility, including prohibition on conflicts of interests, to those overseeing pension funds. But ERISA in the long term failed to expand defined benefit coverage.
Maryland CIO leaving for federal post on public pensions
trueA. Melissa Moye is resigning as chief investment officer of the $45.4 billion Maryland State Retirement & Pension System, Baltimore, officials announced Monday.
Treasury allows longevity annuities in retirement plans
trueThe Treasury Department on Tuesday announced a final rule that will facilitate retirement plan participants' access to deferred-income annuities.
Perella Weinberg names former NYC deputy mayor as CEO
trueRobert K. Steel, former CEO of Wachovia, was named CEO of Perella Weinberg Partners.
Poll results: Would a SIFI designation of a money manager impact your allocation to such firms?
trueIf the Financial Stability Oversight Council determines that large money managers are systemically important financial institutions, most P&I Online readers would not change their investments with such firms.
Money managers remaining vigilant against FSOC
trueMoney managers watching the Financial Stability Oversight Council grapple with systemic risk breathed more easily after being given a chance at a recent Washington conference to explain what they do. Still, they're not letting down their guard or putting away potential weapons just yet.
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.