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ICMA-RC News & Views

ICMA-RC keeps its finger on the pulse of what's important to local and state government employees and employers. Stay up to date on the retirement and financial services industries issues that matter to you here.

ICMA-RC Chief Investment Officer Selected as Finalist for "Industry Innovation Award"

October 30, 2014

ICMA-RC is pleased to announce that its Chief Investment Officer, Wayne Wicker, has been selected as a finalist for Chief Investment Officer's prestigious "Industry Innovation Award" in the Defined Contribution Plan category. According to CIO, "The award highlights the most innovative and positive work being done for, and at, the world's largest pensions, endowments, foundations, and sovereign wealth funds."

IRS Announces 2015 Retirement Plan Contribution Limits

October 23, 2014

On October 23, 2014, the IRS announced the various adjustments applicable to retirement plan contribution limits for 2015. The elective deferral limit for 457 and 401(k) plans increases to $18,000, and the annual additions limit for 401(a) plans increases to $53,000. Traditional and Roth IRA contributions limits are unchanged.

ICMA-RC Encourages Small Steps with National Pack-a-Sack Lunch Day

October 20, 2014

ICMA-RC is encouraging public employees to take small steps toward planning for retirement during National Save for Retirement Week, an effort to promote the importance of saving for retirement.

ICMA-RC Congratulates ICMA on Reaching Milestone 100-Year Anniversary

September 12, 2014

ICMA-RC commends its founder, the International City/County Management Association (ICMA), on reaching its milestone 100th anniversary and its continued success in fostering excellence and professional management in local governance to build better communities.

ICMA-RC Wins Multiple Awards

September 3, 2014

ICMA-RC, in partnership with its public sector clients, was recently recognized for its education initiatives and resources, winning more than 15 awards, bringing the total to over 100 awards since 2010. ICMA-RC’s mission is to help public employees build retirement security by providing products, tools, and resources to plan sponsors and participants.

SEC Adopts Changes to Money Market Fund Regulations

August 28, 2014

The Securities and Exchange Commission (SEC) adopted significant changes to the regulation of Money Market Funds (MMFs) on July 23, 2014. The changes are designed to address money market funds' susceptibility to unusual redemptions in times of financial stress like those experienced during the financial crisis of 2008.

GASB Issues Exposure Drafts to Revamp Retiree Medical Accounting Standards

July 31, 2014

The Governmental Accounting Standards Board (GASB) has begun the process of revamping its accounting standards for Other Post-Employment Benefits (OPEB) to "improve the information reported on OPEB for decision-making and accountability purposes, comparability across governments, and transparency for those who avail themselves to it," as well as to align the OPEB standards with the newly implemented pension accounting standards (GASB Nos. 67 and 68).

ICMA-RC Investment Releases Research Brief on Alternative Beta Methodologies

July 10, 2014

ICMA-RC, has released an investment research brief entitled “Alternative Beta: Impact across Market Capitalization and Style: Equal-Weight, Volatility-Dampening and Momentum-Biased Methodologies.” The study reviews the characteristics of a wide range of alternatively constructed passive portfolios.

Legislation Introduced to Expand Early Distribution Penalty Exemption

June 28, 2014

House Ways and Means members Bill Pascrell (D-NJ) and Dave Reichert (R-WA) in May 2014 introduced legislation, H.R. 4634, to amend federal tax law to allow public safety workers to access their defined contribution retirement accounts without penalty on or after age 50.

Webinar Discusses Best Practices, Challenges, and Solutions for Auto Features in Public Sector Retirement Savings Plans

June 16, 2014

Auto-enrollment best practices in public sector defined contribution plans and how to implement them were presented in a webinar, "Auto Features in Public Sector Retirement Savings Plans," hosted by Gregory Dyson, Senior Vice President, Chief Operations and Marketing Officer, ICMA-RC; Joshua Franzel, Vice President of Research, Center for State and Local Government Excellence (the Center); and Paula Sanford, Public Service Associate, Carl Vinson Institute of Government at the University of Georgia.

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