PBGC Deficit Hits $34 Billion; Benefits Council Calls Number Misleading
The Council says ‘all pension fund liabilities—including the PBGC’s—are overstated by the historically low interest rates.’
On J.P. Morgan Call, Optimism Reigns on Election, Fiscal Cliff
Speakers see room for optimism on changes in Congress, possible tax reforms.
Benefits Council Objects to New Pension Enforcement Rule
The American Benefits Council is taking issue with a new policy issued by the Pension Benefit Guaranty Corp. that it says “challenges” the health of the defined benefit system.
Retirement Planning Groups to SEC: Stop Messing With Money-Market Funds
In a joint letter to the SEC Tuesday, the ICI, FSI and others said the proposed changes would render the funds "far less desirable—if not unusable—for retirement savers."
DOL Backs Off Controversial Brokerage Window Plan
EBSA backed off on its controversial fiduciary requirements involving brokerage windows under its fee-disclosure rule 408(b)(2) that had the retirement planning community up in arms.
Time Bombs Lurk in Retirement Overhaul: Lawmakers, Experts
House Ways and Means Committee Chairman Dave Camp warned Tuesday that a retirement overhaul in efforts to reform the tax code could "threaten the retirement security of ordinary families."
Allow E-Disclosures, Retirement Plan Coalition Urges DOL
On Tuesday, a coalition of interested parties took to their pens to urge the Department of Labor to allow plan sponsors to make required disclosures electronically.
Benefits Council Applauds Pension Relief in Senate Bill
The American Benefits Council is applauding the final passage by the Senate today of The Highway Investment, Job Creation and Economic Growth Act, as the bill includes a provision that provides pension funding relief to companies.
Treasury Set to Issue Lifetime Income Guidance; DOL to Follow
The Treasury Department plans to release soon guidance for employers on how best to integrate lifetime income products into 401(k)s and other employer-sponsored retirement plans, while the Department of Labor plans to follow with similar guidance early next year.