ICMA-RC News & Updates
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- Retirement Plan Limits Remain the Same for 2010
- ICMA-RC, posted
- The Internal Revenue Service and the Department of Treasury announced last week that they are preventing reductions in the amounts that workers can contribute to 401(k)s, 457 plans, IRAs and other tax-favored retirement systems in 2010.
- IRS Issued Notice on Implementation of 2009 RMD Waiver
- ICMA-RC, posted October 12, 2009
- ICMA-RC Introduces New "It Pays to Save" Web Site
- ICMA-RC, posted September 25, 2009
- IRS Launches New Retirement Plans Web site For Employers
- ICMA-RC, posted September 13, 2009
- The Internal Revenue Service recently launched a new Web site designed to help employers determine the best retirement plan to suite their employees’ needs.
- Congress Passes National Save For Retirement Week Resolution
- ICMA-RC, posted August 3, 2009
- A resolution recognizing National Save for Retirement Week (NSRW) has passed in both the House and Senate. Rep. Allyson Schwartz (D-PA) and Rp. Sam Johnson (R-TX) co-sponsored H Res. 647 which designates Oct. 18-24, 2009 as a week set aside for "raising public aware of the various tax-preferred retirement vehicles."
- Fee Investment Advice Bill: Changes Could Undo SunAmerica Arrangement
- ICMA-RC, posted July 1, 2009
- The House Education & Labor Committee has approved bills related to fee disclosure and financial advice from financial institutions. One bill provides for enhanced fee disclosure for retirement plan participants, providers and sponsors. If enacted, the bill would require investment returns to be compared to appropriate benchmarks. It would also require the Department of Labor (DOL) to study whether benchmark provisions were helpful to plan participants.
- DOL, SEC Hearing Considers Further Target Date Oversight, but Show Little Interest in More Regulations
- ICMA-RC, posted June 30, 2009
- Securities and Exchange Commission (SEC) Chair Mary Shapiro and a series of mutual fund industry representatives were among those considering changes in how target date funds are structured and marketed in a Joint Hearing on Target Date Funds held June 18 at the Department of Labor (DOL).
- Rep. Pomeroy Introduces Bill to Boost Annuity Tax Breaks
- ICMA-RC, posted June 16, 2009
- Rep. Earl Pomeroy (D-ND) and Rep. Ginny Brown-Waite (R-FL) have introduced the Retirement Security Needs Lifetime Pay Act (H.R. 2748). Similar to legislation introduced by Pomeroy in the 110th Congress, the bill contains several provisions to encourage retirees to create annuities as part of their retirement savings plans.
- Rep. Neal Reintroduces Fee Bill with a Number of Modifications
- ICMA-RC, posted June 09, 2009
- Rep. Richard Neal (D-MA), Chairman of the House Ways & Means Subcommittee on Select Revenue Measures, has reintroduced his Defined Contribution Plan Fee Transparency Act. The newest bill comes after Neal introduced the original bill (H.R. 3765) in the 110th Congress.
- Obama Budget Proposals Include Enhanced Saver’s Credit, Auto IRA
- ICMA-RC, posted June 2, 2009
- The Obama Administration is proposing changes in the Saver's Credit and provisions to require employers to offer an automatic IRA. Both are contained in the Administration's proposed 2010 budget.
- Rep. Andrews Introduces Bill to Modify Investment Advice Rules
- ICMA-RC, posted May 28, 2009
- A bill that would change requirements for investment advice offered by retirement plan sponsors (ERISA plans only) has been introduced by Rep. Robert Andrews (D-NJ). The "Conflicted Investment Advice Prohibition Act of 2009" (H.R. 1988) would repeal the expanded advice provision contained in the Pension Protection Act (PPA) of 2006.
- SEC, DOL Plan Joint Hearing on Target Date Funds
- ICMA-RC, posted May 28, 2009
- The Securities and Exchange Commission (SEC) and the U.S. Department of Labor (DOL) will hold a joint hearing June 18 to explore issues relating to target date or lifecycle funds and other similar investment options.
- Tax Equity for Health Plan Beneficiaries Bill Reintroduced
- ICMA-RC, posted May 28, 2009
- The Tax Equity for Health Plan Beneficiaries Act of 2009 has been reintroduced in Congress. Supporters are seeking to have the bill language included in a larger health reform bill sometime this year. The bill, first introduced in 2007, would provide tax parity to non-spouse/non-dependent individuals who qualify for and receive employer-provided health plan benefits.
- Center for State and Local Government Excellence Finds Retirements Delayed by Economy
- ICMA-RC, posted May 14, 2009
- The slumping economy is holding back retirements among state and local government employees, according to a new survey of government managers sponsored by the Center for State and Local Government Excellence.
- ICMA Municipal Year Book Features Article on Retirement and the Current Recession
- ICMA-RC, posted May 01, 2009
- ICMA recently published a new article entitled, "How Will Public Sector Retirement Withstand the Current Recession," principally authored by Gregory Dyson, SVP, Chief Operations & Marketing Officer, in its 2009 Municipal Year Book.
- Center Director Analyzes Public Pension Funding Challenges in the Current Economy
- ICMA-RC, posted April 24, 2009
- Center for State and Local Government Excellence Executive Director Beth Kellar interviewed on WAMU 88.5 FM's "Marketplace" program to discuss public pension funding in the current market environment.
- House Bill Would Add Disclosure Requirements to 401(k) Plans
- ICMA-RC, posted April 22, 2009
- House Education and Labor Committee Chairman George Miller (D-CA) has introduced the Fair Disclosure for Retirement Security Act of 2009 (H.R. 1984) that would require 401(k) plans to more clearly state all fees to help investors choose the most appropriate retirement options.
- Treasury Extends Money Market Guarantee Program
- ICMA-RC, posted April 03, 2009
- The U.S. Treasury Dept. has extended its emergency program guaranteeing money market funds through September 18, 2009. The program had been set to end April 30 but was extended on March 31, 2009, "to support ongoing stability in financial markets,” the Treasury Dept. said in a statement.
- Rep. Pomeroy Introduces "The Savings for American Families' Future Act of 2009"
- ICMA-RC, posted April 16, 2009
- Rep. Earl Pomeroy (D-ND) has introduced The Savings for American Families’ Future Act of 2009 to expand the current Saver’s Credit law. This legislation largely tracks the Saver’s Credit expansion proposal contained in the FY2010 budget recently approved by Congress.
- Latest PLUS Fund Overview Now Available
- ICMA-RC, posted March 26, 2009
- Since 1991, ICMA-RC's VantageTrust PLUS Fund has provided retirement plan participants access to a stable value fund with competitive current income consistent with preserving capital and meeting the liquidity needs of participants. The current VantageTrust PLUS Fund Overview contains updated information on the fund, its investment strategy, portfolio and risks.
- Saver’s Initiative Program Details Outlined in New Video
- ICMA-RC, posted March 25, 2009
- ICMA-RC’s Keith Sendall, senior vice president, field sales, recently described a Saver’s Initiative and research in a TV interview for the National League of Cities TV. The Saver’s Initiative and the It Pays to Save campaign, aimed at encouraging greater retirement savings among public employees, is being unveiled this spring.
- Senate Aging Committee Reaches Out to SEC
- ICMA-RC, posted March 6, 2009
- The chairman of the Senate Special Committee on Aging has expressed continuing concern over disclosure of asset allocations in popular target date mutual funds in correspondence with the new chair of the U.S. Securities and Exchange Commission (SEC) and the new Secretary of Labor. Both letters were dated February 24, 2009.
- ICMA-RC SVP & CIO Wayne Wicker Interviewed on Washington Business Tonight
- ICMA-RC, posted March 4, 2009
- ICMA-RC Senior Vice President and Chief Investment Officer Wayne Wicker recently appeared in a segment on the News Channel 8 Washington Business Tonight program, a nightly round-up of business, financial, and economic news.
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