Washington
Worldwide Trade Resources 401(k) gets DOL-appointed independent fiduciary
The Department of Labor announced Thursday it has been given court approval to appoint an independent fiduciary to oversee the $2.2 million Worldwide Trade Resources Inc. 401(k) Plan.
May 24, 2012 | 04:13 pm
Regulators designate CME, ICE clearinghouses as systemically important
Derivatives clearinghouses owned by CME Group and Intercontinental Exchange have been designated systemically important by U.S. regulators, a step that moves them closer to heightened supervision.
May 23, 2012 | 03:19 pm
J.P. Morgan hires former SEC enforcement chief to respond to investigations
William McLucas, former SEC enforcement chief, was hired by J.P. Morgan Chase to help respond to regulatory probes of the firm’s $2 billion trading loss.
May 22, 2012 | 05:17 pm
Mature hedge fund industry demands institutional governance and regulation
The hedge fund industry is growing up fast. As the industry completes the transformation into an institutional community, industry leaders must advocate for best practices.
May 22, 2012 | 12:01 am
California firm to restore $1.3 million to pension plan in settlement
Western Mixers Inc., a Los Angeles-based supplier of nuts, dried fruits, rice and dried beans, will restore nearly $1.3 million to its pension plan after reaching a settlement with the Department of...
May 21, 2012 | 05:30 pm
EBRI savings education director to leave
Kenneth J. McDonnell, director of the savings education programs at the Employee Benefit Research Institute, is leaving at the end of June to become director of outreach for the Insured Retirement...
May 18, 2012 | 04:00 pm
Senate confirms Obama's 2 Federal Reserve nominees
Jerome H. Powell and Jeremy C. Stein, President Barack Obama's nominees to the Federal Reserve Board of Governors, were approved Thursday by the Senate.
May 17, 2012 | 04:12 pm
401(k) fiduciary charged with fraud faces DOL complaint
Matthew D. Hutcheson, a 401(k) plan fiduciary indicted on federal charges of fraud and misappropriation of plan assets, now faces civil charges from the Department of Labor as well.
May 16, 2012 | 03:46 pm
Senate proposal would add auto escalation in Thrift Savings Plan
Newly hired federal employees participating in the $313 billion Thrift Savings Plan would have automatic escalation of their contributions under legislation introduced in the Senate.
May 16, 2012 | 03:28 pm
Business leaders urge permanent pension funding relief
A group representing executives of companies that sponsor some of the nation's largest pension plans urged members of Congress to permanently ease rules for interest rates used to calculate their...
May 15, 2012 | 05:38 pm
PBGC sues to take over Dewey & LeBoeuf retirement plans
The PBGC on Tuesday filed a lawsuit against Dewey & LeBoeuf LLP to force the law firm to turn over its three pension plans to the agency and appoint it the plans' trustee.
May 15, 2012 | 03:22 pm
PPIP report offers chance for direct comparison of money managers
Seven of the remaining remaining eight PPIP fund managers have earned double-digit net internal rates of return during the approximate 2.5 years of the program, a government report shows.
May 14, 2012
House votes to increase federal employees' pension contributions
Federal employees would put 5% more of their salary into the federal pension system under legislation approved Thursday by the House of Representatives in a 218-199 vote.
May 11, 2012 | 03:15 pm
Putnam's Reynolds aims to put retirement security on election agenda
In a presidential election with many competing issues already on the table for the Democrats and Republicans, Putnam Investments chief executive Robert Reynolds wants to turn the conversation to...
May 10, 2012 | 06:45 pm
PBGC takes over Dewey & LeBoeuf pension plans
The PBGC on Thursday announced it will take over three pension plans of law firm Dewey & LeBoeuf, New York.