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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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