Washington

CtW Investment Group calls on Wells Fargo to claw back pay, add new directors

CtW Investment Group calls on Wells Fargo to claw back pay, add new directors

CtW Investment Group on Friday called for Wells Fargo & Co. to claw back part of the incentive pay to Carrie Tolstedt, senior executive vice president of community banking, and add two new directors...

September 23, 2016 | 03:24 pm

Supreme Court temporarily halts Dignity Health church plan ruling

The U.S. Supreme Court granted a request by Dignity Health to temporarily halt a ruling that the church-affiliated defined benefit plan sponsor is covered by the Employee Retirement Income Security...

September 23, 2016 | 03:55 pm
Money market fund reform's challenges for asset owners

Money market fund reform's challenges for asset owners

On Oct. 14, new SEC regulations will upend the longtime practice of institutional asset owners investing cash in money market funds to maintain principal while enjoying daily liquidity and earning a...

September 23, 2016 | 10:00 am
PBGC slashes late penalties

PBGC slashes late penalties

The Pension Benefit Guaranty Corp. is cutting in half the penalties for late premium payments and will allow a waiver of most penalties for plans that can demonstrate premium compliance.

September 22, 2016 | 04:04 pm
New York State Teamsters submits benefit reduction plan to Treasury Department

New York State Teamsters submits benefit reduction plan to Treasury Department

New York State Teamsters Conference Pension and Retirement Fund applied to reduce benefits under the Multiemployer Pension Reform Act of 2014.

September 21, 2016 | 03:24 pm
Leon Cooperman, Omega Advisors charged with insider trading

Leon Cooperman, Omega Advisors charged with insider trading

Leon G. Cooperman and Omega Advisors were charged with insider trading by the Securities and Exchange Commission on Wednesday.

September 21, 2016 | 02:18 pm

Senate committee approves funding for mine workers, eyes vote on retirement plan changes

The Senate Finance Committee on Wednesday approved legislation to free up federal funds to help the $4.4 billion United Mine Workers of America 1974 Pension Plan, Washington, which is severely...

September 21, 2016 | 03:07 pm
Fed keeps rates stable, but support rising for an increase

Fed keeps rates stable, but support rising for an increase

A more divided Federal Open Market Committee agreed Wednesday to keep the current 0.25% to 0.5% target range for the federal funds rate.

September 21, 2016 | 02:54 pm
Closed DB plan sponsors get another year of testing relief from IRS

Closed DB plan sponsors get another year of testing relief from IRS

Sponsors of closed defined benefit plans will get one more year of relief from IRS discrimination testing rules, extending it to January 2017 from January 2016, said an agency notice.

September 20, 2016 | 03:14 pm
First Reserve Management settles with SEC over conflict-of-interest charges

First Reserve Management settles with SEC over conflict-of-interest charges

First Reserve Management agreed to pay $3.5 million to settle SEC conflict-of-interest charges that the private equity firm allocated certain fees, expenses and insurance premiums to some of its...

September 19, 2016 | 04:18 pm
Trump tax plan drops 15% rate for hedge funds, partnerships

Trump tax plan drops 15% rate for hedge funds, partnerships

Republican presidential nominee Donald Trump has dropped a major tax cut for businesses organized as pass-through entities, including partnerships, from his tax overhaul proposals, according to the...

September 16, 2016 | 02:23 pm
Former Park Hill Group executive permanently banned from industry

Former Park Hill Group executive permanently banned from industry

Andrew Caspersen, former managing principal and member of the secondaries group at Park Hill Group, has reached a settlement with the Securities and Exchange Commission that permanently bars him from ...

September 14, 2016 | 03:54 pm
Liability fears hold sponsors back from offering options, GAO says

Liability fears hold sponsors back from offering options, GAO says

The Government Accountability Office has confirmed what defined contribution consultants and plan sponsors have been saying for years: DC plan sponsors remain reluctant to include lifetime income...

September 14, 2016 | 01:58 pm
IRS finalizes rule on partial annuitization

IRS finalizes rule on partial annuitization

The IRS on Friday issued final rules that allow defined benefit plan participants the option of taking both an annuity and a lump-sum payment. The move is part of a broader effort to improve lifetime ...

September 12, 2016 | 04:03 pm

Unprecedented Treasury sales drive 10-year yields to highest since Brexit vote

Ten-year Treasury yields reached the highest since June before an unprecedented slate of note auctions and the last scheduled Federal Reserve speaker before next week's policy meeting

September 12, 2016 | 11:43 am