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DOL moving forward on fiduciary rule

08/17/2015 | Pensions & Investments

Labor Department officials are determined to produce a new standard of fiduciary duty for anyone giving retirement investment advice, once they process concerns raised in thousands of comment letters and four days of hearings on their proposal.


Speakers encourage fiduciary role for advice on DC lump sums, IRA rollovers

08/12/2015 | Pensions & Investments

People giving advice to defined contribution plan participants about lump-sum distributions and rollovers to individual retirement accounts should be covered by a new fiduciary standard, several speakers said Wednesday at a Department of Labor hearing on the proposed rule.


Rising costs usher in pension ‘de-risking’ cycle

08/10/2015 | Hartford Business

Many Connecticut workers probably think of a pension as something their parents had, or something they'll never get. Indeed, as companies have frozen or curtailed their pensions or "defined-benefit" plans, the number of Connecticut private-sector workers and retirees with a single-employer pension (519,000) has plummeted 42 percent over the last decade, federal data shows.


Ascension pension settlement highlights vulnerability of 'church plans'

08/07/2015 | St. Louis Post-Dispatch

Ascension, the Edmundson-based parent company of the nation’s largest nonprofit health system, has agreed to settle a 2013 class-action lawsuit that alleged it improperly maintained employee pensions plans.


There’s a glimmer of hope that the retirement system isn’t broken for good

08/06/2015 | Marketwatch

The generations from the late baby boomers to Generation X to millennials live in a different world, where only a few big companies still offer traditional pensions. For the vast majority of retirees, 401(k)s and other defined-contribution plans are, besides Social Security, the only game in town.


IRS and Treasury say no more lump-sum offers

08/05/2015 | MarketWatch

The Internal Revenue Service and the Treasury have done a wonderful thing. They announced last month that they intend to amend regulations in order to prohibit companies from “de-risking” their defined benefit plans by offering a lump-sum option for retirees already receiving benefits. More...

IRS deepens focus on lifetime income with lump-sum ban

07/27/2015 | Pensions & Investments

The Internal Revenue Service's unexpected decision July 9 to ban lump-sum payments to retirees has plan sponsors keeping one eye open for further regulation but still considering those payouts for other plan participants.


House-Passed Highway Bill Would Extend Transfers of Excess Pension Assets

07/21/2015 | Bloomberg BNA's Pension & Benefits Reporter

The House passed funding legislation that includes a section that would extend for four years provisions allowing employers to transfer excess pension plan assets to retiree-health accounts and group-term life insurance accounts.


Some Lump-Sum Pension Buyouts Banned

07/16/2015 | Financial Advisor

The IRS and U.S. Treasury Department have banned lump-sum pension buyouts, like the ones offered to GM and Ford retired employees, starting July 9, 2015, according to a notice from the two agencies.


Retirement Plans At Every Employer! Is Your State Next?

07/15/2015 | Forbes

Paid sick leave, raising the minimum wage, commuter benefits. What’s next on the list of items employers are going to have to offer their employees? Retirement benefits.