Legislation

Illinois governor vetoes bill to reduce Chicago fire, police pension contributions

Illinois governor vetoes bill to reduce Chicago fire, police pension contributions

Illinois Gov. Bruce Rauner vetoed Friday a bill that reduces Chicago's pension contributions to its police and fire retirement systems in the near term, nearly one year after the measure passed the...

May 27, 2016 | 06:35 pm
House committee approves Puerto Rico restructuring legislation

House committee approves Puerto Rico restructuring legislation

Legislation allowing Puerto Rico to restructure more than $70 billion in bondholder debt was approved by the House Natural Resources Committee on Wednesday by a 29-10 vote.

May 25, 2016 | 03:13 pm
Senate rejects fiduciary rule; Obama vows to veto

Senate rejects fiduciary rule; Obama vows to veto

The Senate voted Tuesday to disapprove and nullify the new fiduciary rule released by the Department of Labor, by a vote of 56-41, along party lines.

May 24, 2016 | 05:31 pm
Central States will not resubmit application to reduce pension benefits

Central States will not resubmit application to reduce pension benefits

Trustees of the $17.8 billion Teamsters Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill., announced Thursday that they will not resubmit a benefit reduction application to the ...

May 19, 2016 | 05:21 pm
Puerto Rico restructuring bill introduced in House

Puerto Rico restructuring bill introduced in House

Legislation allowing Puerto Rico to restructure more than $70 billion in bondholder debt was introduced in the House of Representatives late Wednesday.

May 19, 2016 | 03:46 pm
More Americans today are fuzzy on what 529 plans do, survey says

More Americans today are fuzzy on what 529 plans do, survey says

The tax-advantaged college savings plans established by Congress 20 years ago are less well-known today than they were a year ago.

May 18, 2016 | 08:30 am
It's back to the drawing board for multiemployer pension reform

It's back to the drawing board for multiemployer pension reform

The result of the first test of a new multiemployer pension reform law has left trustees of the Central States Teamsters pension fund reeling, other troubled multiemployer pension fund officials...

May 16, 2016

Writing a lesson plan on unacceptable risk

The Chicago Public School Teachers' Pensions & Retirement Fund is considering doubling down its risk by making its first investment in its sponsor's debt securities.

May 16, 2016
Treasury drops a hot potato

Treasury drops a hot potato

The Department of the Treasury's rejection of the benefit reduction application of the Teamsters, Central States, Southeast and Southwest Areas Pension Plan has left participants cheering.

May 16, 2016
POLL: For states launching retirement plans for private-sector employees, what investment should they use as a default option?

POLL: For states launching retirement plans for private-sector employees, what investment should they use as a default option?

Maryland joins the ranks of California and Illinois, which are establishing retirement program for private-sector workers. What investment should they use as a default option?

May 10, 2016 | 11:48 am
UPS faces up to $3.8 billion charge if Central States benefit reductions approved

UPS faces up to $3.8 billion charge if Central States benefit reductions approved

United Parcel Service Inc. argued in an earnings presentation Thursday that the benefit reduction application by the Teamsters Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill.,...

April 28, 2016 | 03:21 pm
House votes to disapprove new DOL fiduciary rule

House votes to disapprove new DOL fiduciary rule

The House of Representatives voted Thursday to disapprove the new fiduciary rule released by the Department of Labor.

April 28, 2016 | 04:13 pm