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GAO report calls for more disclosure to participants in lump-sum offers
trueU.S. corporate defined benefit plan participants need to be given better information when offered a window to accept lump-sum payments to replace their lifetime benefits, a report from the Government Accountability Office said.
Obama appoints new chairwoman of PBGC advisory committee
trueJoyce Mader was named chairwoman of the Pension Benefit Guaranty Corp.’s advisory committee on Tuesday.
Obama pushes for new fiduciary standard
truePresident Barack Obama called for a new fiduciary standard proposal from the Department of Labor to protect middle-class retirement savers that he said are being hurt by some advisers' conflicts of interest.
Settlements offer lessons in breach suits
trueAs sponsors and service providers continue settling ERISA fiduciary breach lawsuits, the rest of the defined contribution industry is taking careful notes.
Company stock option fading from 401(k) plans
trueCompany stock in defined contribution plans continues to shrink as a percentage of assets, plans offering the option and participants investing in it, recent research and surveys show.
State private retirement programs get help from president
truePrivate-sector retirement solutions programs at the state level are getting a boost from the White House.
Pension cuts? All I worked "now was for nothing'
truePension cuts? All I worked "now was for nothing'
Fee on leverage misguided
truePresident Barack Obama's proposed financial fee on leverage that would apply to large investment management firms as well as other large financial institutions won't enhance market stability as it supposedly is designed to do.
U.S. Chamber of Commerce warns of fiduciary rule overkill
trueA new fiduciary rule proposal expected shortly from the Department of Labor could have negative unintended consequences, said benefits policy experts at a U.S. Chamber of Commerce forum Friday.
SEC round-table panelists debate necessity for universal proxy ballot
trueCorporations should adopt a universal proxy ballot enabling shareholders to vote for both management and activist nominees for boards of directors on the same voting card, Anne Simpson, senior portfolio manager and director of global governance at CalPERS, said Thursday as a panelist for an SEC ...
EBRI: Retirement savings gap stands at $4.13 trillion
trueThe Employee Benefit Research Institute published updated figures Tuesday examining the retirement savings gap. They note that the aggregate national retirement savings gap is currently $4.13 trillion for all U.S. households, whose head of household is between 24 and 64 years old.
Fitch: GASB 67 a mixed bag for public pension funds
trueSome public pension funds are reporting higher asset values under GASB 67 because of strong returns in recent years, said a new report from Fitch Ratings.
IRS to seek input on multiemployer suspensions
trueThe IRS will seek public input on how to handle benefit reductions now allowed for troubled multiemployer pension funds.
Aon Hewitt: Use of settlements in DB plans to surge this year
trueAlmost two-thirds of employers plan to take actions this year to limit rising Pension Benefit Guaranty Corp. premiums, mostly electing settlement strategies, said a new survey from Aon Hewitt.
Government subsidies are a deal-breaker for clean energy investors
trueOne factor holding back widespread investment in clean technology is the need for government subsidies.