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Did IRS inaction prompt some to freeze DB plans?
trueMore closed corporate defined benefit plans may have been frozen this year because the IRS has not released guidance on how employers could avoid failing non-discrimination testing in closed plans.
Presumption of company stock
trueThe Department of Labor's intervention seeking a U.S. Supreme Court hearing on the responsibilities of fiduciaries concerning company stock as an investment option in defined contribution plans might lead to better guidance on a long-standing exception to the diversification rules of the Employee ...
Hedge fund managers seek to set themselves apart through branding
trueHedge fund branding is increasing as institutional investors' presence within hedge funds' client bases is forcefully nudging even the most tight-lipped firms to open up and explain what they do.
SEC round table discusses shift in who pays for proxy-voting services
trueMoney managers might need to charge clients for proxy voting to help finance the expense , Michelle Edkins, managing director and global head of corporate governance and responsible investment, BlackRock, said Thursday at the SEC's proxy advisory services round-table webcast.
Chicago still needs to reform pension system
trueAfter finally tackling pension reform, Illinois legislators now need to figure out a way to help Chicago, which faces a steep increase in pension contributions in 2015.
Senators urge action on discrimination testing rules for defined benefit plans
trueSens. Ben Cardin, D-Md., and Rob Portman, R-Ohio, are urging Treasury officials to help defined benefit plan sponsors deal with non-discrimination rules that could prompt more soft-frozen plans that are closed to new participants to be frozen.
Washington State Investment Board commits up to $650 million
trueWashington State Investment Board made four new commitments totaling up to $650 million.
Supreme Court asked to clarify company stock issue in 401(k) plans
trueThe appeal of company stock as an investment option in 401(k) plans could dim considerably if the Department of Labor succeeds in having the U.S. Supreme Court revisit the issue of fiduciary prudence in managing that option.
Holding companies to account
trueMary Jo White, chairwoman of the Securities and Exchange Commission, plans to strengthen its law enforcement, broadening its reach and seeking more admissions of guilt.
PBGC to take over Furniture Brands International pension fund in sale
trueThe PBGC will take over the defined benefit pension funds of Furniture Brands International Inc., the agency announced Thursday.
Senate panel approves Yellen as Fed leader
trueJanet Yellen was approved by the Senate Banking Committee on Thursday to serve as chairwoman of the Federal Reserve for four years.
J.P. Morgan record $13 billion mortgage pact will benefit U.S. pension funds
trueJ.P. Morgan Chase & Co. reached a $13 billion deal with the Justice Department that ends probes into the bank's sale of mortgage bonds, the largest amount paid by a financial firm in a settlement with the government.
PBGC takes over Journal Register pension fund
trueThe Pension Benefit Guaranty Corp. is assuming the defined benefit pension plan of the Journal Register Co.
Judge gives nod to CFTC-MF Global settlement
trueA federal judge approved a settlement between the Commodity Futures Trading Commission and MF Global Inc. in which the futures broker will repay $1.2 billion to customers and other creditors who lost money when MF Global went out of business in October 2011.
PBGC deficit rises to nearly $36 billion
trueThe PBGC had a record deficit of $35.7 billion as of Sept. 30.