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Obama tax proposals may be DOA
truePresident Barack Obama's State of the Union speech Jan. 20 mentioned only broadly his vision for helping middle-class workers save more for retirement, but he's poised to submit proposals to Congress on Feb. 2 as part of his fiscal 2016 budget.
DOL feeling heat on QPAM exemptions
trueThe Department of Labor is under increasing pressure to get tough on money managers with U.S. retirement plan clients when their firm, or an affiliate, gets into legal trouble.
Fiduciary breach issue gets Supreme Court hearing
trueThe U.S. Supreme Court is scheduled to hear arguments next month in an ERISA case that could greatly expand guidelines for defined contribution plan executives' fiduciary responsibilities.
Salisbury retiring as head of EBRI
trueIt is hard to imagine the Employee Benefit Research Institute without Dallas Salisbury.
Law professors respond to Gallagher's accusations
trueA Securities and Exchange Commission member's dispute with a prominent Harvard Law School professor has turned into something of a gang fight, academic style.
Norm Champ to leave as SEC's director of investment management
trueNorm Champ is resigning from the SEC as director of investment management at the end of January, the Securities and Exchange Commission announced Wednesday.
Obama leaves retirement issues out of speech, but proposals loom for budget address
trueWhile President Barack Obama spoke in only broad strokes in his State of the Union speech Tuesday about his vision for helping the middle class save more for retirement at work, and for rebalancing a tax code that he said favors the wealthy, industry sources questioned the necessity of some ...
S&P settles with SEC, 2 states over CMBS ratings
trueStandard & Poor's Ratings Services agreed to pay a total of $77 million to settle federal securities law violations involving its ratings of commercial mortgage-backed securities to the SEC, and to the offices of the New York and Massachusetts attorneys general.
Washington chooses Empower as record keeper for 4 state DC plans
trueWashington State Department of Retirement Systems hired Empower Retirement as record keeper for the department’s deferred compensation program and for three defined contribution plans whose investments are overseen by the $103.6 billion Washington State Investment Board, Olympia, said Marcie Frost, ...
SEC to revisit proxy access conflict rule
trueThe SEC will revisit proxy rules that allow companies to exclude shareholder proposals that are in direct conflict with management proposals, Chairwoman Mary Jo White said.
Hatch lays out retirement savings agenda for Senate Finance Committee
trueTax reform that includes a broader base and lower rates, and new retirement savings incentives, will be top priorities of the Senate Finance Committee, incoming Chairman Orrin Hatch, R-Utah, said Tuesday at the U.S. Chamber of Commerce.
Advocate church plan appeal advances
trueAdvocate Health Care can proceed to the appeals court level to defend itself in a church pension plan challenge, a federal judge said.
Washington State Investment Board commits $1.35 billion to 4 managers
trueWashington State Investment Board, Olympia, committed up to $1.35 billion to six private equity funds, said board spokeswoman Liz Mendizabal.
Groups oppose CSAM bid to continue money management in U.S.
trueSeveral financial watchdog groups opposed Credit Suisse Asset Management's bid to continue providing money management services to retirement plans in the U.S.
Dallas Salisbury to step down as EBRI chief
trueDallas Salisbury, the first and only head of the Employee Benefit Research Institute since the organization was launched in 1978, will relinquish that position at the end of 2015 and become EBRI's president emeritus.