Estate Tax Might Stick Around
President-elect Obama and Democrats in Congress hope to keep the estate tax instated in 2010, according to a report in the Wall Street Journal.
News
Oscilloscope Maker Puts 401(k) Match on Hold
A New York oscilloscope maker is the latest employer to put its 401(k) match on hold as part of a cost-cutting effort.
AIG Small Business e-Excess Platform Unveils Enhancements
AIG Small Business, a division of AIG Commercial Insurance, said its AIG e-Excess platform now features a premium indication tool and multi-limit quote functionality to help brokers process...
Fund Managers Optimistic, but Concerned about Retirement Income
The top concerns of fund managers during the next 10 to 20 years focus on inadequate retirement incomes from defined contribution (DC) plans for large segments of the...
Advisor Products Inc. Offers Free Webinars
Advisor Products, Inc., which makes Web sites, client newsletters, and brochures for financial advisers, is offering free series of Webinars about the financial crisis for advisers.
Oppenheimer Names New Head of Fixed Income
OppenheimerFunds announced that Art Steinmetz has been named Director of Fixed Income, effective immediately.
Aon Appoints Clouse to Northeast Region Leader Post
Aon Consulting Worldwide has named Joe Clouse as senior vice president and Northeast regional leader of business development, the firm announced.
IRS Updates 2009 Reporting Requirements for RMDs
The Internal Revenue Service (IRS) has modified reporting requirements applicable to required minimum distributions (RMDs) from individual retirement accounts (IRAs) to reflect the waiver of the RMD rules...
Treasury Suggests Boosting Social Security Retirement Ages
The latest U.S. Treasury Department treatise on Social Security reform suggests increasing both the early and normal retirement ages would help encourage more Americans to stay in the...
Smith Barney and Morgan Stanley May Merge Brokerage Units
Citigroup is in talks with Morgan Stanley about a sale of its Smith Barney brokerage and asset-management unit, according to news reports.
BoA Loses another Ex-Merrill Exec
Gregory Fleming, former president and chief operating officer of Merrill Lynch&Co., has left Bank of America to join Yale Law School’s faculty.
IRS Publishes Interim Guidance on §457A
In Notice 2009-8, the Internal Revenue Service has published guidance on the application of §457A to nonqualified deferred compensation plans of nonqualified entities.
Ex-Employee Given Green Light for Cash Balance Suit
Drawing a distinction between claims to recover pension benefits and those to collect damages in a pension dispute, a federal judge has given a former JP Morgan Chase...
Court Consolidates Bear Stearns Suits
A federal district court judge has consolidated lawsuits that have been filed against Bear Stearns Companies Inc. since its collapse last year.
Louisville Bank Ups 401(k) Match
In contrast to most recent news reports regarding employer matching contributions, Louisville, Kentucky-based Republic Bank has increased its 401(k) match.
Pharmaceutical Company Could Face Company Stock Suit
The law firm of Stember Feinstein Doyle&Payne, LLC, is investigating conduct that it believes might have caused losses to the KV Pharmaceutical Company Profit Sharing Plan and Trust.
AUL Retirement Names Southern Region 403(b) Sales Exec
The Retirement Services division at American United Life Insurance Company (AUL), a OneAmerica company, has announced the appointment of James R. Daniel, Jr., as regional vice president for...
Spectrem Millionaire, Affluent Investor Indexes Up in December
The Spectrem Millionaire Investor Index (SMII) saw its largest increase ever when it jumped 16 points in December to -23.
Advisers Feel Market Stress
A whopping 90% of advisers said market changes have increased their stress level, according to a study by Vestment Advisors and the Financial Planning Association.