15 Biggest Political Donors in Financial Industry: 2014
Wall Street banks and financial trade groups have dished out $800 million during the current campaign cycle, Americans for Financial Reform says.
Don’t Break Our Thriving 401(k) System, Groups Urge Government
Wharton’s Olivia Mitchell weighs in on a study by three benefits groups calling 401(k)s a success and telling tax reformers to stay away.
Americans to Congress: Hands Off Our Retirement Accounts
A survey released by the Coalition to Protect Retirement found 87% of Americans think retirement accounts should be “off limits” to Congress.
New Hire Roundup: OppenheimerFunds Makes 3 Senior Hires
The PCAOB announced its new chief hearing officer, and Capstone Financial Group has hired Steve Lee to spearhead advisor recruitment and coaching.
Senate Introduces Lifetime Income Disclosure Act
Senators on Wednesday introduced a bill to allow workers in retirement plans to receive an annual statement of how their lump-sum savings translate into a lifetime stream of monthly income.
11 Senators Unite on Resolution to Protect Retirement Tax Incentives
With fiscal cliff negotiations putting tax incentives for retirement savings potentially on the chopping block, 11 senators have voiced their support for the employer-based retirement system by joining forces on a Sense of the Congress resolution.
MetLife’s Landmark Unclaimed Property Settlement Could Approach $700 Million
The MetLife Insurance Cos. multi-agency agreement on unpaid life and annuity policies and the reporting of unclaimed property is a landmark agreement, according to NAIC President and Florida Insurance Commissioner Kevin McCarty.
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.
In 2010, the insurance industry was the target of a lot of bad press regarding retained asset accounts (RAAs) that were provided to the beneficiaries of military service members killed in action.
DOL ‘Disappointed’ With Industry Input on Fiduciary IRA Request
The Department of Labor’s EBSA says it is “disappointed” that industry trade groups could not provide more data by the Feb. 24 deadline, and it's "bewildered" that the data underlying the Oliver Wyman report is "not forthcoming."