A payroll tax cut that has been in effect since 2011 will extend through the end of February. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, reducing their Social Security tax withholding rate from 6.2 percent to 4.2...
Secretary of Labor Hilda L. Solis announced the appointment of five new members to the 2012 Advisory Council on Employee Welfare and Pension Benefit Plans, which also is known as the ERISA Advisory Council.
Fidelity Investments has published a report that identifies the top 30 investment themes it believes are likely to have the greatest influence on the performance of each sector in 2012 and beyond.
With social media going viral across the globe, it's no surprise that financial services companies are starting to venture into the social networks as part of their day-to-day business functions. The tough part is using these systems in a way that wont violate regulations that govern financial institutions.
The SPARK Institute and the Investment Company Institute have released a Sample Glossary of Investment-Related Terms for Disclosures to Retirement Plan Participants that defined contribution plans can use and adapt in complying with new Department of Labor participant disclosure regulations requiring plans to give participants specific information about plan investments,...
The Southwest Airlines Pilots Retirement Savings Plan took the top spot in BrightScopes Year-End Top 30 Ratings List covering 401(k) plans with more than $1 billion in assets. The Southwest plan bumped The Savings Plan of Saudi Arabian Oil Company to the number 2 spot after it held the...
Citigroup sold off the last of its 8 million share stake in Primerica. Primerica was spun off in an initial public offering in April 2010. After that deal, Citigroup owned about 40 percent of Primerica common stock. In April 2011, Citigroup publicly sold 12 million shares of Primerica stock, reducing...
2012 will be a year of change for the retirement industry. Experts agree that 401(k) plan fee disclosure rules, affecting plan sponsors and plan participants, and the U.S. Department of Labors reproposal of its rule amending the definition of fiduciary under the Employee Retirement Income Security Act will have the...
The American Society of Pension Professionals and Actuaries and the Council of Independent 401(k) Recordkeepers sent a letter to the Department of Labor requesting it extend the applicability dates of fee disclosure regulations that affect both plan sponsors and plan participants.