Legislation

TSP modernization bill advances in House

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Legislation to give federal employees more flexibility with their Thrift Savings Plan accounts was referred for a full House vote.
Michigan governor signs pension reform bill

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Michigan Gov. Rick Snyder signs teacher pension reforms into law.
State initiatives set to transform retirement savings landscape

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Nine states are changing how private-sector workers without access to an employer-sponsored plan can save for retirement.
It's live: Oregon launches plan for private sector

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Officials in several states are watching closely as Oregon launches the first program of its kind.
Retirement becoming a whole new game

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American workers, employers and the government are going to have to get used to a new definition of retirement and retirement plans.
Illinois budget implements pension reforms for certain state, Chicago plans

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A pension reform plan for Chicago's municipal and laborer pension plans will move forward following the measure's inclusion in the state's budget package.
Moody's eyes downgrade for Illinois ahead of budget's passage

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Illinois' general obligation bond rating is under review for a possible downgrade by Moody's Investors Service.
New Jersey approves budget, shifting state lottery to pension fund

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Gov. Chris Christie signed a budget bill that includes $2.5 billion for the state pension fund, with $1 billion coming from lottery funds.
The Participant Magazine Winter/Spring 2017: The Longevity Issue

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The Participant Magazine, State Street Global Advisors Defined Contribution flagship publication, takes a deeper look at longevity in this special issue. It explores how increasing human life spans...
Michigan pension reform bill sent to governor

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A bill reforming the pension benefits of Michigan public school employees was sent to Gov. Rick Snyder for his signature Thursday.
Chicago mayor bypasses state, introduces plan to raise city contributions for 2 pension plans

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Chicago Mayor Rahm Emanuel introduced on Wednesday an ordinance that would raise the city's contributions to the city's municipal and laborers' pension plans.
New law restricts investment discretion of Texas Employees' staff

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Legislature restricts staff discretion over Texas Employees Retirement System's alternative investments.
Trump's policies on economy, Russia, China are still unknown, Bob Woodward tells conference

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Bob Woodward tells P&I that six months into the presidency of Donald Trump, "it is not clear where this is going to go in terms of the economy."
Transforming retirement savings into wealth

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Helping employees convert savings in retirement plans into wealth they can draw on in retirement must be a key focus for the industry.
TSP modernization bill introduced in House

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Federal employees would gain more flexibility with their Thrift Savings Plan accounts under bipartisan legislation introduced Friday.