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Moody's: PBGC multiemployer deficit is a credit negative for plan sponsors
trueA growing deficit in the Pension Benefit Guaranty Corp.'s multiemployer pension program is a credit negative for multiemployer plan sponsors, Moody's Investors Service said in a report issued Monday.
Petco valuations through the years
trueCVC Capital Partners and the Canada Pension Plan Investment Board announced they had entered into an agreement to buy Petco Animal Supplies from TPG and Leonard Green & Partners for $4.6 billion.
House passes bill to reform Federal Reserve; Obama vows to veto
trueThe House of Representatives took on the Federal Reserve on Thursday, passing legislation to reform the way the central bank handles monetary policy and rate-setting decisions.
SEC proposes rules for dark pools to disclose more about their operations
trueDark pools and other alternative trading systems would be required to file detailed disclosures about their operations, and the activities of their broker-dealer operator and its affiliates as part of proposed rules approved by the SEC on Wednesday.
Fed minutes indicate rate hike could come in December
trueMost members of the Federal Open Market Committee thought that the conditions for raising the federal funds rate “could well be met by the time of the next meeting” in December, according to minutes of the Oct. 27-28 meeting released Wednesday.
PBGC deficits rise in fiscal year 2015, annual report says
trueDeficits in both single-employer and multiemployer pension programs increased for the fiscal year ended Sept. 30, the Pension Benefit Guaranty Corp. reported in its annual report released Tuesday.
Chicago defends pension reform law before Illinois Supreme Court
trueAn attorney representing Chicago defended the constitutionality of a 2014 pension reform law for two city pension funds in oral arguments before the Illinois Supreme Court on Tuesday.
IRS schedules hearing on multiemployer vote
trueThe IRS will hold a hearing Dec. 18 on proposed rules for the voting process for multiemployer pension plan participants in distressed plans seeking benefit reductions, the agency said in a notice Monday.
Proposed rules for state secure choice plans released by DOL
trueThe Department of Labor on Monday released proposed rules that would allow states to set up mandated payroll deduction IRA programs for private-sector employees, along with interim guidance to encourage states to consider other defined contribution programs.
Fixing MyRA and a TSP fund
trueMyRA, the federal government's just-launched program to encourage workers without access to a workplace retirement plan to begin saving for retirement, gets off on the wrong foot and should be changed.
Partnerships facing new level of scrutiny from IRS
truePrivate fund investors and managers are hearing a clear message from Washington: Partnerships that until now have received little attention from the IRS could soon face a new audit regime, with more to come.
Acting director of SEC's office of compliance inspections given permanent job
trueMark Wyatt was named director of the SEC's office of compliance inspections and examinations on Thursday.
Senate approves final defense bill with retirement reforms
trueThe Senate on Tuesday passed a revised defense spending bill that includes reforms to the military retirement system.
Pennsylvania leaders reach tentative agreement on budget, pension reform
truePennsylvania Gov. Tom Wolf and state Republican legislative leaders have reached agreement on a tentative framework for a final budget that includes pension reform, said Jeffrey Sheridan, spokesman for the governor’s office.
Kashkari chosen to lead Minneapolis Federal Reserve
trueNeel Kashkari was named president and CEO at the Federal Reserve Bank of Minneapolis, effective Jan. 1.