News from ICMA-RC
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- First Quarter Milestone, Model Funds Outperformed Peer Median in Worst Quarterly Market Since 2002
- ICMA-RC, posted April 30, 2008
- ICMA-RC reported today that all eight of its target-date Vantagepoint Milestone4 Funds outperformed their Morningstar peer medians in the first quarter of 2008, and for the one- and three-year periods ending March 31, 2008, with each ranking among the top third of its peers for the one-year period.
- Department of Labor Releases Guidance on Qualified Default Investment Alternative Regulations
- ICMA-RC, posted April 30, 2008
- On April 29, 2008, the Department of Labor (DOL) issued technical corrections and guidance to regulations issued last October on qualified default investment alternatives (QDIA) for ERISA plans. The corrections make three changes to the final regulations.
- ICMA-RC Receives DALBAR Seal of Excellence
- ICMA-RC, posted April 27, 2008
- ICMA-RC has been awarded the DALBAR Seal of Excellence for its 401 and 457 Retirement Statements, VantageLine Voice Response System, and Defined Contribution Plan Participant and Defined Contribution Plan Sponsor Web Sites. The Seal is awarded for outstanding communications that effectively and efficiently meet the needs of participants.
- Monroe County, NY Named Plan Sponsor of the Year Finalist
- ICMA-RC, posted April 18, 2008
- Monroe County, NY was chosen as a Plan Sponsor of the Year Finalist by PLANSPONSOR, a communications organization focused on pension and retirement plan issues.
- Information on Bear Stearns
- ICMA-RC, posted April 2, 2008
- Most mutual funds are managed to diversify their investment portfolio by holding a range of stocks, bonds and other financial instruments consistent with policies described in the fund prospectus. Funds use diversification seeking to reduce risk by investing in stocks and bonds issued by a number of different companies and government entities. In addition to diversifying by security issuer, some funds diversify based on additional criteria, such as market sectors, industries, geographic region, or market capitalization. The Vantagepoint Funds provide an additional layer of diversification by hiring multiple investment managers believed to have complementary investment approaches, where appropriate, to select the securities held by the Funds.
- Vantagepoint Model Portfolio, Milestone Funds Outperformed Peers as Growth Stocks Trumped Value in 2007
- ICMA-RC, posted April 1, 2008
- Vantagepoint Model Portfolio funds and Vantagepoint Milestone funds outperformed their peers in 2007, the ICMA-RC fund family reported today. In addition, Milestone Funds, completing three years of performance history on Dec. 31, 2007, outperformed peers for both one and three year periods.*
- Farm Bill postponed; Future of New Roth 457 Arrangements in 457 Plans Still Uncertain
- ICMA-RC, posted March 18, 2008
- Before leaving on a two-week recess, the Senate passed a 30-day extension on farm programs legislation, H.R. 2419, commonly known as the Farm Bill, until April 18, 2008. The bill includes a provision that would provide for Roth arrangements in 457 plans – but the future of these new arrangements is uncertain at this time.
- IRS to Hold Roundtable on Governmental Plans Compliance Issues
- ICMA-RC, posted March 17, 2008
- The Internal Revenue Service's Office of Employee Plans is hosting a Governmental Plans Roundtable to discuss and raise awareness in the government plan sector of the need to comply with tax qualification requirements.
- House Passes Pension Protection Act Technical Corrections Bill
- ICMA-RC, posted March 17, 2008
- The U.S. House of Representatives recently passed the Pension Protection Act Technical Corrections Bill (H.R. 3361), which provides provisional clarifications to the Pension Protection Act of 2006. A companion bill (S.1974) passed the Senate in December 2007.
- Long-term Investing and Market Fluctuations
- ICMA-RC, posted January 22, 2008
- Given the recent fluctuation in the stock markets, it is important to remember the value of investing for the long term. It’s time in the market, rather than timing the market, that has paid off for many investors over time. Weathering ups and downs over time can allow investors to benefit from longer-term market strengths, and to avoid the risks of attempting to time market changes.
- ICMA-RC Discontinues Credit Card Program
- ICMA-RC, posted February 26, 2008
- In our efforts to focus our products and services on our mission of helping public employees build retirement security, ICMA-RC has terminated the ICMA-RC credit card program offered through JP Morgan Chase ("Chase"). While the program will be discontinued, account service will continue with no disruption to current cardholders.
- Second Annual America Saves Week Kicks Off Feb. 24
- ICMA-RC, posted February 22, 2008
- American Saves Week, an effort that aims to increase awareness around the need to save money, reducing debt, and building wealth, kicks off Feb. 24. The theme for this year's weeklong event (Feb. 24 - March 2) is "Build Wealth, Not Debt."
- Senate Passes Bill on Roth Arrangements in 457 Plans
- ICMA-RC, posted January 28, 2008
- At the end of the 2007 session the Senate passed a bill that included the governmental Roth 457 provision. The Senate Manager's Amendments (Amendment 3855) to the House Farm bill, H.R. 2419, provides for Roth arrangements in 457 plans.
- ICMA-RC Featured in American City & County Magazine
- ICMA-RC, posted January 28, 2008
- The December issue of American City & County Magazine highlighted Monroe County, New York and the retirement planning activities it held during National Save for Retirement Week.
- ICMA-RC Monitoring Status of Acquisition of Countrywide Financial Corporation; CD Account Program to Continue
- ICMA-RC, posted January 22, 2008
- The Bank of America Corporation announced on January 11, 2008 a definitive agreement to purchase Countrywide Financial Corporation (CFC), the parent company of Countrywide Bank, FSB, the institution through which ICMA-RC’s VantageTrust Certificate of Deposit Accounts (CD Accounts) are offered.
- Retirement Plan Contribution Limits Unchanged in 2008; IRA Limits Rise
- ICMA-RC, posted January 04, 2008
- The maximum annual contribution allowed for 401(k), 403(b) and 457 retirement savings plans remains at the 2007 limit of $15,500 for 2008.
- 2008 Retirement Savings Plan Contribution Limits
- ICMA-RC, posted January 01, 2008
- The maximum contribution limit for 457 plans remains the same at $15,500 in 2008. However, the contribution limit for Traditional and Roth IRAs increases to $5,000 in 2008. To increase your personal contributions and take advantage of any of the limits, please contact your employer and start saving more for your retirement today. The information below provides additional details on the new retirement plan contribution limits.
- ICMA-RC Discontinues Credit Card Program
- ICMA-RC, posted February 26, 2008
- In our efforts to focus our products and services on our mission of helping public employees build retirement security, ICMA-RC has terminated the ICMA-RC credit card program offered through JP Morgan Chase ("Chase"). While the program will be discontinued, account service will continue with no disruption to current cardholders.
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