The Tulare County Employees Retirement Association (TCERA) in California is accepting proposals from firms to provide investment consulting, monitoring, and advice services for the $924-million defined benefit public pension plan.
Following the deadline for responses to the Department of Labor and Treasury Department’s request for information about lifetime income options in retirement plans, the Government Accountability Office (GAO) has issued a letter detailing its findings about options outside of retirement plans.
Markov Processes International (MPI), which specializes in providing technology in the institutional and high-net-worth space, is now making available a Web-based manager research and reporting tool for all financial advisers.
The value and number of securities class-action settlements increased in 2009 from 2008, according to "Securities Class Action Settlements: 2009 Review and Analysis," an annual report by Cornerstone Research.
A federal appellate court has rebuffed a bid by former investment
broker Nathan Chapman Jr. to overturn his conviction for fraud against
the Maryland state pension system on "ineffective assistance of
New Jersey's public pension funds spent $166 million on brokerage
commissions, advisers' fees, and other administrative costs during the
last fiscal year, including $5 million it didn't need to pay, according
to a state audit.
The Internal Revenue Service has issued Revenue Ruling 2009-40,
providing the table of covered compensation for the 2010 plan year for
use in determining contributions to defined benefit plans and permitted
disparity in defined contribution plan contributions.
CDM Retirement Consultants, Inc., a Towson, Maryland, provider of
open-architecture retirement plan solutions, is now offering
administration services for defined benefit plans, including cash