Recent news about bank failures and the turmoil surrounding the housing market can contribute to investors’ concerns about the stability of various financial institutions.
The House Ways and Means Subcommittee on Select Revenue Measures held a hearing in June to consider changes to existing Individual Retirement Arrangements (IRAs) that are proposed in two House bills.
Forty surviving children and spouses of fallen firefighters, police officers and other public safety workers received Vantagepoint Public Employee Memorial Scholarship Fund awards at a dinner this evening at Union Station in Washington, DC.
The House of Representatives recently passed H. Res. 1294 designating October 19-25, 2008 as National Save for Retirement Week. A sister resolution, S. Res. 601, introduced on June 25, is awaiting approval in the Senate.
House Education and Labor Chairman George Miller (D-CA) recently acknowledged that his bill regarding 401(k) fee disclosure would not clear the House this session. Miller cited opposition from the House Ways and Means Committee and the White House, as well as difficulties gaining momentum for the bill in the Senate, as reasons for abandoning the legislation.
The Bank of America Corporation has purchased Countrywide Financial Corporation (CFC), the parent company of Countrywide Bank, FSB, the institution through which ICMA-RC’s VantageTrust Certificate of Deposit Accounts (“CD Accounts”) are offered. ICMA-RC will continue to work with Countrywide Bank as a wholly owned subsidiary under the Bank of America Corporation. ICMA-RC participants who currently hold investments in CD Accounts will not be affected by these changes.
While thousands of people in the Midwest and in California begin the difficult task of rebuilding their lives and their homes following devastating floods and wildfires, ICMA-RC is working with plan sponsors to make emergency relief available to plan participants through their retirement plans.
The Incentives for Older Workers Act, S. 2933, would eliminate barriers for older Americans who want to stay in the workforce longer, and encourage employers to recruit and retain older workers.
ICMA-RC announced today that Milliman, Inc. will offer ICMA-RC clients access to actuarial services for Governmental Accounting Standards Board (GASB) Statement 45 liability reporting.
With millions of homeowners across the nation facing the crisis in subprime mortgages, many with defined contribution retirement plans – including public sector employees – may be tempted to tap into them for loans and ready cash. But any early withdrawals from retirement savings accounts should only be considered a last resort.
The House and Senate recently passed a final conference agreement on legislation commonly known as the Farm Bill, but the Roth 457 provision was dropped from the bill.
The Incentives for Older Workers Act, S. 2933, would eliminate barriers for older Americans who want to stay in the workforce longer, and encourage employers to recruit and retain older workers.
ICMA-RC reported today that all eight of its target-date Vantagepoint Milestone Funds outperformed their Morningstar peer medians in the first quarter of 2008, and for the one- and three-year periods ending March 31, 2008, with each ranking among the top third of its peers for the one-year period.
On April 29, 2008, the Department of Labor (DOL) issued technical corrections and guidance to regulations issued last October on qualified default investment alternatives (QDIA) for ERISA plans. The corrections make three changes to the final regulations.
ICMA-RC has been awarded the DALBAR Seal of Excellence for its 401 and 457 Retirement Statements, VantageLine Voice Response System, and Defined Contribution Plan Participant and Defined Contribution Plan Sponsor Web Sites. The Seal is awarded for outstanding communications that effectively and efficiently meet the needs of participants.