Legislation

House, Senate Republicans increase efforts to turn back fiduciary rule

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Legislation to overturn the Department of Labor fiduciary rule that takes effect Friday was introduced in the House of Representatives and Senate on Thursday.
Pennsylvania House approves pension reform bill; governor expected to sign

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The Pennsylvania House of Representatives passes the Senate’s pension reform bill changing retirement benefits for most state employees hired starting in 2019.
Fiduciary rule cannot be stopped, Labor secretary says

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The Labor Department has no authority to undo the new fiduciary rule set to take effect Friday, Secretary Alexander Acosta says.
PIMCO’s Ivascyn sees no sweeping tax reform, infrastructure spending

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The Trump administration and the Republican-controlled Congress are unlikely to produce sweeping tax or regulatory reform, according to PIMCO's CIO.
Pennsylvania Senate passes pension reform bill

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The Pennsylvania state Senate passed a pension reform bill that would change retirement benefits for most state employees and all school employees hired after Jan. 1, 2019.
Texas governor signs Dallas Police & Fire pension reform bill

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Texas Gov. Greg Abbott signed off on a pension reform bill for the $2.1 billion Dallas Police & Fire Pension System on Wednesday, roughly a week after it passed the state Legislature.
Texas governor signs Houston pension reform bill; firefighters fund sues city

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A pension reform bill for Houston's three pension funds was signed into law by Texas Gov. Greg Abbott on Wednesday, a day after firefighters sued.
Texas lawmakers approve Dallas Police & Fire Pension System pension reform

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The Texas Legislature passed a pension reform bill for the $2.1 billion Dallas Police & Fire Pension System.
CFTC proposal holds harsh surprise for asset owners

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A part of the latest CFTC proposal for speculative position limits on certain physical commodities could make it difficult for asset owners to comply.
PSCA opens up survey on tax reform impact on retirement savings

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The Plan Sponsor Council of America has launched an employer survey on the potential impact of tax reform on retirement savings.
Texas Legislature passes Houston pension reform bill

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The Texas Legislature approves a pension reform bill for Houston's three pension funds.
Vermont approves voluntary private-sector retirement plan

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Vermont becomes the latest state to create a retirement savings plan for private-sector employees.
Ontario proposes easing mandatory pension funding rules

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The Ontario Finance Ministry is seeking to mandate solvency funding for the province's defined benefit plans only for those that are 85% funded or less.
President Trump signs measure ending safe harbor for state-run private-sector plans

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President Donald Trump signs legislation removing safe harbors for states to implement private-sector retirement programs.
Crapo calls for 'bipartisan, common-sense' reform of financial regulations

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Reducing federal financial regulations is the top priority for the Senate Banking Committee, its leader said on Wednesday.