ICMA-RC News & Updates
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- Rep. Pomeroy Introduces Bill to Boost Annuity Tax Breaks
- ICMA-RC, posted June 16, 2009
- Rep. Earl Pomeroy (D-ND) and Rep. Ginny Brown-Waite (R-FL) have introduced the Retirement Security Needs Lifetime Pay Act (H.R. 2748). Similar to legislation introduced by Pomeroy in the 110th Congress, the bill contains several provisions to encourage retirees to create annuities as part of their retirement savings plans.
- Rep. Neal Reintroduces Fee Bill with a Number of Modifications
- ICMA-RC, posted June 09, 2009
- Rep. Richard Neal (D-MA), Chairman of the House Ways & Means Subcommittee on Select Revenue Measures, has reintroduced his Defined Contribution Plan Fee Transparency Act. The newest bill comes after Neal introduced the original bill (H.R. 3765) in the 110th Congress.
- Obama Budget Proposals Include Enhanced Saver’s Credit, Auto IRA
- ICMA-RC, posted June 2, 2009
- The Obama Administration is proposing changes in the Saver's Credit and provisions to require employers to offer an automatic IRA. Both are contained in the Administration's proposed 2010 budget.
- Rep. Andrews Introduces Bill to Modify Investment Advice Rules
- ICMA-RC, posted May 28, 2009
- A bill that would change requirements for investment advice offered by retirement plan sponsors (ERISA plans only) has been introduced by Rep. Robert Andrews (D-NJ). The "Conflicted Investment Advice Prohibition Act of 2009" (H.R. 1988) would repeal the expanded advice provision contained in the Pension Protection Act (PPA) of 2006.
- SEC, DOL Plan Joint Hearing on Target Date Funds
- ICMA-RC, posted May 28, 2009
- The Securities and Exchange Commission (SEC) and the U.S. Department of Labor (DOL) will hold a joint hearing June 18 to explore issues relating to target date or lifecycle funds and other similar investment options.
- Tax Equity for Health Plan Beneficiaries Bill Reintroduced
- ICMA-RC, posted May 28, 2009
- The Tax Equity for Health Plan Beneficiaries Act of 2009 has been reintroduced in Congress. Supporters are seeking to have the bill language included in a larger health reform bill sometime this year. The bill, first introduced in 2007, would provide tax parity to non-spouse/non-dependent individuals who qualify for and receive employer-provided health plan benefits.
- Center for State and Local Government Excellence Finds Retirements Delayed by Economy
- ICMA-RC, posted May 14, 2009
- The slumping economy is holding back retirements among state and local government employees, according to a new survey of government managers sponsored by the Center for State and Local Government Excellence.
- ICMA Municipal Year Book Features Article on Retirement and the Current Recession
- ICMA-RC, posted May 1, 2009
- ICMA recently published a new article entitled, "How Will Public Sector Retirement Withstand the Current Recession," principally authored by Gregory Dyson, SVP, Chief Operations & Marketing Officer, in its 2009 Municipal Year Book.
- Center Director Analyzes Public Pension Funding Challenges in the Current Economy
- ICMA-RC, posted April 24, 2009
- Center for State and Local Government Excellence Executive Director Beth Kellar interviewed on WAMU 88.5 FM's "Marketplace" program to discuss public pension funding in the current market environment.
- House Bill Would Add Disclosure Requirements to 401(k) Plans
- ICMA-RC, posted April 22, 2009
- House Education and Labor Committee Chairman George Miller (D-CA) has introduced the Fair Disclosure for Retirement Security Act of 2009 (H.R. 1984) that would require 401(k) plans to more clearly state all fees to help investors choose the most appropriate retirement options.
- Rep. Pomeroy Introduces "The Savings for American Families' Future Act of 2009"
- ICMA-RC, posted April 16, 2009
- Rep. Earl Pomeroy (D-ND) has introduced The Savings for American Families’ Future Act of 2009 to expand the current Saver’s Credit law. This legislation largely tracks the Saver’s Credit expansion proposal contained in the FY2010 budget recently approved by Congress.
- Latest PLUS Fund Overview Now Available
- ICMA-RC, posted March 26, 2009
- Since 1991, ICMA-RC's VantageTrust PLUS Fund has provided retirement plan participants access to a stable value fund with competitive current income consistent with preserving capital and meeting the liquidity needs of participants. The current VantageTrust PLUS Fund Overview contains updated information on the fund, its investment strategy, portfolio and risks.
- Saver’s Initiative Program Details Outlined in New Video
- ICMA-RC, posted March 25, 2009
- ICMA-RC’s Keith Sendall, senior vice president, field sales, recently described a Saver’s Initiative and research in a TV interview for the National League of Cities TV. The Saver’s Initiative and the It Pays to Save campaign, aimed at encouraging greater retirement savings among public employees, is being unveiled this spring.
- ICMA-RC SVP & CIO Wayne Wicker Interviewed on Washington Business Tonight
- ICMA-RC, posted March 4, 2009
- ICMA-RC Senior Vice President and Chief Investment Officer Wayne Wicker recently appeared in a segment on the News Channel 8 Washington Business Tonight program, a nightly round-up of business, financial, and economic news.
- Saver's Credit
- ICMA-RC, posted February 10, 2009
- Tax time is quickly coming to a close, but there is still time for participants to qualify for the Saver’s credit – a tax credit up to $1,000. Recently made permanent by the Pension Protection Act of 2006, the Saver’s Credit provides an extra incentive for workers with income less than $50,000 to save for retirement. For more information on this useful savings tool, please click here.
- A Message From ICMA-RC President and CEO Joan McCallen
- ICMA-RC, posted January 09, 2009
- Over the past few months we have experienced significant volatility in the financial markets and the months ahead may hold more challenges for the economy. Whether through our Investor Services team, our Retirement Plans Specialists or our Web site, we have tools and resources for you.
- The Worker, Retiree, and Employer Recovery Act of 2008 Becomes Law
- ICMA-RC, posted January 06, 2009
- With President Bush's signature on December 23, 2008, The Worker, Retiree, and Employer Recovery Act of 2008 (H.R. 7327) became law. The legislation makes technical corrections to the Pension Protection Act that narrowly addresses beneficiaries for Health Reimbursement Arrangements (HRA). It also waives the 2009 Required Minimum Distribution (RMD) on employer-sponsored defined contribution plans and on IRAs.
- ICMA-RC to Offer Roth 401(k) Feature
- ICMA-RC, posted January 06, 2009
- ICMA-RC today announced it is now offering a Roth 401(k) feature to its existing 401(k) clients. The Roth 401(k) feature is a retirement savings option designed to provide employees with an opportunity to invest additional after-tax dollars with the potential for tax-free withdrawals.
- Current VantageTrust Certificate of Deposit Accounts Program to End; New Program Under Development
- ICMA-RC, posted January 5, 2009
- ICMA-RC has been informed by the Bank of America Corporation (Bank of America) that it will no longer be able to support the VantageTrust Certificate of Deposit Accounts (CD Accounts) program as it is currently structured. The current CD Accounts program will be terminated effective January 30, 2009.
- 2009 Required Minimum Distributions Waived
- ICMA-RC, posted December 26, 2008
- President Bush has signed The Worker, Retiree, and Employer Recovery Act (H.R. 7327) that suspends the need to take required minimum distribution (RMD) payments from defined contribution retirement plans and IRAs for the 2009 tax year. The President signed the measure on December 23, 2008, following unanimous approval in Congress earlier in the month.
- Treasury Department Extends Money Market Guarantee Program
- ICMA-RC, posted December 4, 2008
- The U.S. Department of the Treasury has extended its Temporary Guarantee Program for Money Market Funds until April 30, 2009.
- House Committee Hears Testimony on Changes to Defined Contribution
- ICMA-RC, posted Novemeber 24, 2008
- A Congressional hearing in October that focused on the impact of the financial crisis on workers' retirement security included testimony from several witnesses on 401(k) plans and IRAs who suggested ways the savings plans could be changed.
- A Message From ICMA-RC President and CEO Joan McCallen
- ICMA-RC, posted October 10, 2008
- At ICMA-RC, we have heard from many of you asking what you should do in the current financial markets about your retirement savings. These are unprecedented and challenging times. Many of you are likely evaluating your options and trying to determine what course of action is best for you and we have several different ways to assist you.
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