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Fed stops bond buying, stays with federal funds rate near zero
trueThe Federal Open Market Committee’s bond-buying program will end this week, members announced Wednesday at the end of a two-day meeting, citing “substantial improvement” in the labor market outlook and underlying strength in the broader economy.
Precision, flexibility vital for DC plans, say speakers at P&I conference
trueDefined contribution executives need to be both precise and flexible in the managing of their plans, according to fellow sponsors, consultants and providers who spoke at the annual Pensions & Investments West Coast Defined Contribution Conference, held Oct. 26-28 in San Diego.
DOL looking at conflicts of interest for consultants
trueLabor Department officials are scrutinizing potential conflicts of interest when pension consultants with fiduciary responsibilities also manage a plan’s assets or recommend themselves for that role.
PBGC helps 2 New York multiemployer plans
trueThe Pension Benefit Guaranty Corp. is offering financial assistance to two insolvent multiemployer pension plans in New York.
ERISA at 40: Stewards reflect on good, bad
trueReflecting back on ERISA's first 40 years, the people who've administered it say there were some hits and some misses.
Managers more serious about compliance
truePrivate equity and hedge fund managers, prodded by their institutional clients, are taking compliance more seriously as federal examiners and enforcers up their game targeting practices they say put investors at a disadvantage.
Pact raises caution flag on swaps
trueAsset owners that use swaps could ultimately face losses and added risk as a result of an agreement among 18 major global banks.
The market is ready for proxy access
trueIt is time for the Securities and Exchange Commission to propose proxy access again.
ETP traders not responding to exchange overtures
trueAll too often, exchange-traded products are described as mutual funds that trade like stocks. A closer look reveals that not to be the case. To the surprise of many, ETP traders are comfortable in the dark.
IRS allows use of annuities in target-date fund series
trueThe Internal Revenue Service on Friday said defined contribution plans’ use of a target-date fund series containing deferred annuities won’t violate IRS rules against DC plans discriminating in favor of higher paid employees, as long as other IRS guidelines are followed.
Daughters of Charity Health System church plan challenged
trueAnother church-affiliated hospital system is being sued by employees challenging its defined benefit plan’s exemption from federal pension law.
Money managers to redraw battle plans after SEC nixes batch of nontransparent ETFs
trueActive fund managers will have to redraw battle plans in their years-long push to bring new products to exchanges after regulators delivered a public rebuke to two proposals for so-called “non-transparent” ETFs.
2 senators call for derisking rules
trueSenate Finance Committee Chairman Ron Wyden, D-Ore., and Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin, D-Iowa, want federal regulators to set clear guidelines for employers undertaking pension derisking.
IRS adjusts 2015 retirement plan contribution limits for inflation
trueEmployees will be able contribute more to their defined contribution plans in tax year 2015, thanks to cost-of-living adjustments announced Thursday by the Internal Revenue Service.
SEC rejects applications for non-transparent ETFs
trueThe Securities and Exchange Commission has declined an appeal by active fund managers to allow ETFs to trade without disclosing their underlying holdings.