Washington

Tax bill could cause problems for pension funds favoring debt

Legislation -

Legislation -

The tax overhaul could hurt corporate pension funds that invest heavily in debt.

Regulation -

Regulation -

Gary Barnett, deputy director in the division of trading and markets, will retire effective Dec. 31, the Securities and Exchange Commission said Wednesday.
Preston Rutledge nomination approved by Senate HELP Committee

Washington -

Washington -

Preston Rutledge's nomination to serve as assistant secretary of labor for the Employee Benefits Security Administration was approved Wednesday by a Senate committee.
Fed raises rates by 25 basis points, foresees another 3 rate hikes in 2018

Markets -

Markets -

A divided Federal Open Market Committee voted Wednesday to raise the federal funds rate by 25 basis points to a target range of 1.25% to 1.5%.
Kroger officially withdraws from Teamsters Central States

Pension Funds -

Pension Funds -

Kroger and the International Brotherhood of Teamsters have ratified a new labor agreement to withdraw active Kroger participants from Teamsters Central States.
Commentary: A simple solution to better retirement plans – Default to digital

Industry Voices -

Industry Voices -

Paper has served as the default communication method since the passage of ERISA. It's time to modernize and streamline participant communications.
Representatives introduce electronic disclosure bill for retirement plan information

Legislation -

Legislation -

Bipartisan legislation allowing for electronic disclosure of retirement plan information was introduced Monday.
Loan programs seen as viable answer to multiemployer woes

WASHINGTON -

WASHINGTON -

The imminent insolvency of 100 or more multiemployer pension funds is getting attention in Washington, where ideas for a new loan program are forming.
Fujitsu settles lawsuit alleging ERISA violations for $14 million

Courts -

Courts -

Fujitsu has settled for $14 million a class-action lawsuit alleging a 401(k) plan violated its ERISA duties by paying high fees for investment options.
Credit strategies in crosshairs of tax reform effort

ALTERNATIVES -

ALTERNATIVES -

Pending tax proposals could end up deciding winners, losers in private equity industry.
Lawmakers introduce bill to clarify rules on lifetime income products in DC plans

LEGISLATION -

LEGISLATION -

Plan sponsors would have more certainty about providing guaranteed lifetime income products within their DC plans under legislation introduced Friday.
SEC names enforcement chief for complex products

Regulation -

Regulation -

Daniel Michael was named chief of the SEC enforcement division's unit on complex financial instruments.
Senator holds up vote on SEC nominees

Washington -

Washington -

Confirmation of two candidates to serve on the Securities and Exchange Commission is being held up by Sen. Tammy Baldwin over several concerns she has.
Futures Industry Association questions plans for bitcoin futures

Markets -

Markets -

The Futures Industry Association chided the Commodity Futures Trading Commission over plans to start bitcoin futures trading later this month.
Commentary: Partial delay of fiduciary rule leaves investment industry in limbo

INDUSTRY VOICES -

INDUSTRY VOICES -

Delays in implementing some parts of the fiduciary rule don't mean investment advisers are off the hook from all of its requirements.