Compliance April 23, 2009

Savings Recovery Act Introduced in House

Members of the U.S. House GOP’s Savings Solutions Group on Wednesday introduced the Savings Recovery Act, a bill designed to “help families protect what they have and begin to rebuild what they have lost.″
Reported by

The Group first revealed its proposed blueprint for the legislation in March (see “GOP Congressmen Offer Savings Proposal’).

A statement from the office of U.S. Representative Howard P. “Buck” McKeon (R-California) said the Savings Recovery Act would:

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  • Make it easier for Americans to save more for their retirement by increasing the contribution and catch-up limits for individuals and families.
  • Restore college savings by extending the existing SAVERs Credit to contributions made to 529 college savings accounts, effectively reducing by up to half the cost of a family’s contribution to the plan.
  • Increase retirement income by doubling the Social Security earnings limit from $14,160 to $28,320 and allowing more Americans to increase their income without being hit by the Social Security earnings penalty.
  • Provide tax relief for investors and seniors by immediately suspending the capital gains tax on newly acquired assets for the next two years, raise and index to inflation the amount of capital losses allowed against ordinary income to $10,000, and suspend taxes on dividend income through 2011.
  • Stabilize worker pensions and helping employers invest in the future by temporarily providing an increased glide path for recognizing losses and two additional years to resolve pension funding shortfalls.
  • Preserve employee-controlled 401(k)s by blocking efforts to wipe out 401(k)s entirely and replace them with government-run accounts.

More information is available here.

Products April 23, 2009

TDAM Launches Sustainability Fund

TDAM USA Inc. announced the launch of a new mutual fund for institutional investors.
Reported by

Robin Lacey, managing director, TD Asset Management, said in a press release: “The TDAM Global Sustainability Fund offers an innovative combination of companies recognized for their leading approach to building sustainable businesses, as well as companies that are developing interesting solutions for today’s pressing environmental problems.”

The fund seeks to achieve long-term capital appreciation by investing primarily in equity securities of companies from around the globe viewed as contributing to the world’s future sustainability, according to the release. These companies are selected from the Dow Jones Sustainability World Index SM (DJSI World), which consists of approximately the top 10% of companies in terms of sustainability, out of the largest 2,500 companies worldwide by free-flow market capitalization.

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The index is based on the comprehensive sustainability assessment by SAM, the Zurich-based sustainability investing specialist, and thus reflects an integrated analysis of economic, environmental and social criteria focused on long-term shareholder value.

“In addition, a portion of the portfolio will be dedicated to emerging specialists in environmental technology,” said Thomas George, Vice President and Director, Portfolio Management, TD Asset Management, in the press release.

More information is available at www.tdassetmanagement.com.

 

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