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401(k) plans

Proposed Rule on Conflicts of Interest in Investment Advice (November 2015)

Regulations

The Pension Rights Center submitted comments to the Department of Labor (DOL) and testified at a hearing in support of the department’s proposed revision of the definition of “fiduciary.” The proposed definition describes the circumstances under which a financial adviser becomes a fiduciary and must give advice in the best interest of the customer, avoiding all conflicts of interest unless they are expressly allowed.

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PRC Praises Labor Department for New Rules for Economically Targeted Investments

News Release

WASHINGTON – U.S. Secretary of Labor Tom Perez announced today new guidance for economically targeted investments (ETIs) in retirement plans.

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State-based retirement plans for the private sector

Legislation

States around the country are looking into ways of using the efficiencies of public retirement systems to administer new types of pension plans for private-sector workers. Below are brief summaries of plans that have either passed or are being considered.

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Labor Department’s Fiduciary Proposal: Key Provisions to Watch

News Item

The battle over the U.S. Labor Department’s proposal to require financial advisers to put retirement investors’ interests ahead of their own has been fierce, with financial advisers, investor advocates and many financial-services companies watching every twist and turn in this multiyear saga.

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Save Our Retirement Coalition response to letter sent to Secretary Perez on the fiduciary rule

News Release

The Pension Rights Center, as part of the Save Our Retirement Coalition, issued a statement in reaction to a letter sent to Labor Secretary Tom Perez by several members of Congress regarding the Department's proposed fiduciary rule.

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Is your adviser truly protecting your retirement?

News Item

There’s a discussion going on that is vital to the retirement money you’ve worked so hard to save. The Labor Department, directed by the Obama administration, is proposing that more advisers, when giving retirement investment advice, put their clients’ best interests first.

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AIG freezes pension

News Item

American International Group Inc. will freeze its defined benefit pension plan, effective January 1, 2016, according to an internal company memo obtained by the Wall Street Journal.

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DOL moving forward on fiduciary rule

News Item

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

News Item

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

News Item

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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