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Pension Relief Bill with RMD Moratorium Slides through Senate
A day after U.S. House lawmakers unanimously approved a sweeping pension reform measure, the Senate followed suit on Thursday with its own unanimous approval of the bill.
RESOURCES for Retirement Adds Adviser
RESOURCES for Retirement, a retirement plan advisory and consulting firm, said it brought on Kristen Maldonado as an adviser.
IRS Offers Relief for 403(b) Written Plan Requirement
The IRS issued a notice Thursday announcing relief for 403(b) plans that do not have a written plan in place by January 1.
RMD Bill Includes PPA Technical Corrections
A broad pension relief measure approved by U.S. House lawmakers—including a one-year stop on the required minimum distribution rules—also includes a variety of other measures sought by business...
Bukaty Offers Fiduciary Helpline for Sponsors
Bukaty Companies Retirement Plan Services, a division of Bukaty Companies, has launched a toll-free retirement plan “helpline†for retirement plan sponsors unclear of their fiduciary responsibilities in light...
DC Participants Flee Equities in Q308
Defined contribution plan activity rose as participants reacted to economic turmoil by reallocating their portfolios away from equity assets to fixed-income funds, according to The Callan DC Index...
Vanguard to Put Out Small Cap International Index
The Vanguard Group announced its intention to offer its first international small-cap index fund.
What’s a Subprime Mortgage?
Participants might know less than you think about personal finance and the economy, a poll of Americans suggests.
Financial Planning Organizations Band Together
Three financial planning organizations—Certified Financial Planner Board of Standards, Inc. (CFP), Financial Planning Association (FPA), and National Association of Personal Financial Advisors (NAPFA)—said they have come together to...
Most Employers Don't Plan to Reduce Contributions
Even as news reports of companies suspending employer match contributions to defined contribution plans continue, a Mercer survey reveals 83% of employers do not expect to reduce their...
Kodak Suspends 401(k) Match
Kodak announced it is suspending its 401(k) match and not increasing executive compensation.
House Passes Pension, RMD Relief
The U.S. House of Representatives passed the Worker, Retiree and Employer Recovery Act of 2008 by unanimous consent.
IRS Publishes Additional 409A Reporting, Withholding Instructions
According to Section 409A guidance issued Wednesday by the U.S. Treasury Department and the Internal Revenue Service (IRS), an employer is not required to report nonqualified deferred compensation...
Adviser-Owned, National Investment Advisory Firm Launches
HighTower says it is the first adviser-owned, nationally branded, fiduciary financial services firm dedicated to serving high net worth investors.
ING Broker/Dealers Launch Paperless Process for Advisers
The broker/dealers of ING Advisors Network have begun rolling out imaging to enable their registered representatives' offices to become virtually paperless environments.
Hartford Stock Drop Cases Accumulate
Hartford Financial Services Group Inc. has been hit with two new stock drop class action lawsuits.
Akron Bank Cuts 401(k) Match, Stock Purchase Program
An Akron, Ohio-based bank has become the latest employer to drop its 401(k) match to save money—in this case to better deal with the slumping economy.
NYLIM Adds Two Consultants to West Coast
New York Life Retirement Plan Services, a division of New York Life Investment Management LLC, announced the expansion of its West coast presence with the hiring of two...
Two RMD Delay Bills Filed
Two Republican U.S. Senators have introduced proposals to delay enforcement of retirement plan required minimum distribution (RMD) rules because of the struggling economy.
Advisers Like Independence—Just Not Too Much
Financial advisers expressed that a combination of independent broker/dealer and traditional career system offerings would make them most successful, according to a survey released by John Hancock Financial...