J. Mark Iwry, deputy assistant secretary for retirement and health policy at the Treasury Department, said automatic IRAs could rely on government bonds an R bond as default investments for employees.
Foreign financial institutions appear to be emerging as the most likely buyers of AIG's $100 billion investment management business, as sources noted that interest from private-equity firms has waned in recent weeks.
Investors who are still awaiting payouts from Reserve Management the New York-based firm whose $63 billion money market fund "broke the buck" last year appear to be taking matters into their own hands.
Efforts to provide corporations with relief from new pension funding rules that are kicking in just as stock and bond markets have conked out have drawn opposition from the highest of authorities the current administration.
Like other big corporations saddled with unpredictable defined benefit pension burdens, IBM elected a few years ago to freeze its traditional pension plans and make improvements to its 401(k) plan. But that's where the similarities end.