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Use of excess DB plan assets for health care extended to 2025
trueExcess defined benefit plan assets can now be used to pay for retiree health care and life insurance through 2025.
OFR study: Form PF too wide for hedge fund risk reporting
trueHedge funds reporting their risk exposures to the Securities and Exchange Commission use one method, Form PF, regardless of how dissimilar their risk profiles may be, but it can still help regulators measure market risk exposure with further stratification, said a study released Thursday by the ...
FOMC: No change on rates
trueMembers of the Federal Open Market Committee decided to keep the federal funds rate at zero to 0.25%, they announced Wednesday at the end of a two-day meeting in Washington.
Massachusetts PERAC urges preservation of rules on pension fund follow-on commitments
trueThe Massachusetts Public Employee Retirement Administration Commission is requesting the state House and Senate not override Gov. Charlie Baker’s veto of a provision added to the fiscal year 2016 budget that would roll back part of a state pension reform law.
Treasury Secretary Lew backs Puerto Rico bankruptcy protection
trueTreasury Secretary Jacob Lew supports allowing Puerto Rico to access Chapter 9 bankruptcy protection as the commonwealth struggles to deal with $72 billion in debt.
DOL fiduciary proposal elicits torrent of comments
trueComment letters on the Department of Labor's proposed fiduciary rule poured in July 21, the last day of the comment period.
Assessing the impact of Dodd-Frank 5 years later
trueIt's been five years since President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, a far-reaching law enacted after the 2008 financial crisis that aimed to stave off future economic meltdowns.
Plan sponsors must face up to Tibble ruling
trueThe U.S. Supreme Court's decision in Glenn Tibble et al. vs. Edison International et al. could lead sponsors of defined contribution plans to take extreme actions ranging from cutting back on investment fund options to abandoning plans altogether to avoid litigation risk. Both extremes would be a ...
IRS deepens focus on lifetime income with lump-sum ban
trueThe Internal Revenue Service's unexpected decision July 9 to ban lump-sum payments to retirees has plan sponsors keeping one eye open for further regulation but still considering those payouts for other plan participants.
Comments about Dodd-Frank
trueAs with any regulatory and legislative efforts, the Dodd-Frank Act has its critics and supporters. To gauge the impact of the law, Pensions & Investments reporters reached out to regulators, architects of the bill, money managers, plan sponsors and others about its effect on institutional ...
PBGC looks to reduce reporting waivers for large plans
trueFewer large defined benefit plan sponsors will be able to skip Section 4010 reporting under a rule change the PBGC will propose shortly.
IRS moves to raise tax rate on private equity management fees
truePrivate equity firms will no longer be able to convert income from management fees into capital gains, which are taxed at a lower rate, under a proposed rule by the IRS published in the Federal Register Thursday.
SEC names co-head of private funds unit
trueJennifer Duggins was named senior specialized examiner and co-head of the SEC’s private funds unit within the office of compliance inspections and examinations, an SEC official confirmed.
PBGC director nominee lays out agenda to Senate Finance Committee
truePBGC director nominee W. Thomas Reeder Jr. will work to increase retirement savings and help multiemployer plans if he becomes director of the Pension Benefit Guaranty Corp., Mr. Reeder said at his confirmation hearing Thursday before the Senate Finance Committee.
House panel calls on DOL to withdraw proposed fiduciary rule
trueRepublican members on the House Education and the Workforce Committee want the Department of Labor to withdraw its proposed fiduciary rule.