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Plan funding notices to apply to single-employer plans for first time; final rule expected Feb. 2
trueSingle-employer defined benefit plan sponsors covered by ERISA will have new guidelines for annual funding notices when the Department of Labor’s Employee Benefits Security Administration publishes a final rule Feb. 2.
2 multiple employer plan bills introduced
trueMultiple employer plans could be a more viable option for smaller employers and service providers under bipartisan legislation introduced Thursday in the House and Senate.
PBGC seeks special services investment manager for terminated plan assets
trueThe Pension Benefit Guaranty Corp. is looking for a special situations investment manager for its trust fund.
Military pension reform panel calls for DC plan option; mandatory for new entrants
trueThe Department of Defense could save billions of dollars and improve military recruitment and retention by adding a defined contribution retirement plan, an advisory group said Thursday.
Federal funds rate likely to stay low 'for some time'
trueThe Federal Open Market Committee repeated Wednesday that “it can be patient in beginning to normalize” monetary policy, but members declined to predict when they might be ready to raise the federal funds rate from the current zero to 0.25% target range, said a statement at the end of a two-day ...
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.
Salisbury retiring as head of EBRI
trueIt is hard to imagine the Employee Benefit Research Institute without Dallas Salisbury.
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.
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.