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Guidance, flexibility offered in cash balance rules
trueCash balance plan sponsors got a compliance road map and added flexibility in picking expected rates of return when final regulations on the hybrid plans were issued by the Treasury Department and Internal Revenue Service.
PBGC to take over James River Coal pension fund
trueThe PBGC will take over the defined benefit plan of James River Coal Co., the agency announced Wednesday.
PBGC proposes requirement for employers to disclose lump-sum offers
trueThe Pension Benefit Guaranty Corp. disclosed that it intends to require employers to report to the agency offers they make to pension fund participants to convert their monthly annuity to a cash lump-sum benefit.
American Benefits Council calls for simplified retirement approach from Washington
trueEmployers need more flexibility and simplicity in providing retirement and other benefits, officials with the American Benefits Council said Tuesday as they unveiled a strategic plan for where employee benefits should be in 2020.
trueThe CFA Institute on Friday called for the Securities and Exchange Commission to revive its proxy access rule, contending it would increase U.S. market capitalization by as much as $140.3 billion.
IRS, Treasury release final hybrid plan rules
trueThe Treasury Department and the IRS finalized regulations for hybrid retirement plans such as cash balance plans that have been pending since 2010.
Washington State commits nearly $1.1 billion to alternatives funds
trueWashington State Investment Board made six new commitments to alternatives funds totaling up to $1.09 billion.
DC plans can expect little from Washington, conference attendees told
trueDefined contribution plan executives have many opportunities to encourage participants to save more for retirement without needing extra legislation or regulation. And even if they wanted more rules and laws, there’s little chance significant legislation or regulation affecting the retirement plans ...
GAO: Large partnerships avoid IRS scrutiny
trueCongress should consider requiring large partnerships such as private equity and hedge funds to take steps to make it easier for the Internal Revenue Service to audit them and collect taxes due, the Government Accountability Office said in a congressional report delivered Thursday.
Fed: One more month of tapering, funds rate stays low
trueMembers of the Federal Open Market Committee voted to finish tapering their bond-buying program with a final $15 billion in purchases in October.
Retirement tax incentives called 'out of whack'
trueSenate Finance Committee Chairman Ron Wyden, D-Ore., said at a hearing Tuesday that “something is out of whack” between the $140 billion in annual tax subsidies for retirement savings and the number of people who don’t have enough saved for retirement.
SEC settles with BlackRock, others over trading infractions
trueBlackRock Institutional Trust and RA Capital Management were among 19 firms and an individual trader that settled with the SEC over charges they illegally participated in stock offerings less than five days after short selling the stock.
A vital SEC crucial to markets
trueThe Securities and Exchange Commission, according to testimony by its chairwoman, Mary Jo White, is desperately short of resources and cannot adequately fulfill its responsibility to oversee the capital markets.
SEC rule could push trading costs higher
trueThe Securities and Exchange Commission's latest salvo in the war against market instability could mean higher trading fees for money managers and some smaller equity trading venues curtailing operations or shutting down completely.
CFTC eases restrictions on hedge fund advertising
trueThe Commodity Futures Trading Commission softened restrictions on advertising by hedge fund managers that are registered as commodity pool operators.