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52 Matching News Items

1.  ABC News on 401(k) Fee Disclosure
The Pension Protection Act Blog Link to more items from this source
May 31, 2012
"ABC News ran a segment on the ABC Evening News about the fee disclosure regulations for 401(k) plans which take effect July 1, 2012. The segment was titled '401(k) Hidden Fees' and contains an example of the impact 0.5% fees have on a typical couple's 401(k) account balance compared to the impact of 1.5% in fees. Phyllis Borzi of the Dept. of Labor appears in the video."
2.  ABC News/Kaiser Family Foundation/USA Today Health Care in America 2006 Survey
Henry J. Kaiser Family Foundation Link to more items from this source
Oct. 16, 2006
Excerpt: This poll examines Americans' views and experiences related to health care costs and quality, as well as their attitudes toward possible policy solutions. The results are featured in a series of reports on ABC News programs, ABCNews.com, and in USA Today during the week of Oct. 15, 2006.
3.  IRS Retirement News for Employers, Summer 2009 (PDF)
Internal Revenue Service [IRS] Link to more items from this source
Aug. 17, 2009
14 pages. Articles include '2009 RMDs from Defined Benefit Plans?', 'ABCs of Loans and Hardship Distributions', 'Correcting a Failure to Implement the Plan's Automatic Enrollment Provisions', 'SIMPLE IRA Plans: The 2-Year Rule on Early Distributions', 'New on the Web', and '7 Steps to Making a Hardship Distribution.
4.  Taxing Health Benefits Lacking Hill Support
Henry J. Kaiser Family Foundation Link to more items from this source
July 8, 2009
Excerpt: [Senators] continue to look for new ways to pay for their reform bills, due to lack of public support for an employer benefits tax, CNN reports: 'A recent New York Times/CBS News poll showed only 20 percent of respondents support the tax and a Washington Post/ABC News poll found 70 percent opposed it. A Kaiser Family Foundation poll found 54 percent of respondents oppose the new tax' (7/7). Instead, Democrats are focusing on taxing the wealthy to pay for reform, The Wall Street Journal reports: 'Senate negotiators are considering a wider range of ways to pay for expanding health coverage, including President Barack Obama's proposal to limit tax deductions for the wealthy and another proposal to impose an income surtax on the wealthy, people familiar with the matter said' (Hitt and Adamy, 7/8).
5.  Pension Funds Report Millions in Losses Amid Silicon Valley Bank Collapse
ABC News Link to more items from this source
Mar. 17, 2023
"An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank's collapse. The State Teachers Retirement System (STRS) of Ohio stated that the shares represented a minuscule portion of its overall holdings -- .03% of the total fund -- which held over $88.8 billion in assets as of June 2022."
6.  Puerto Rico Goes to Court Over Failing Public Pension System
ABC News Link to more items from this source
May 22, 2017
"Puerto Rico is seeking help from federal court to restructure the debt of the U.S. territory's public pension system, which is projected to run out of money this year. Gov. Ricardo Rossello said late Sunday that the government has been unable to reach a deal with creditors to whom it owes some $3 billion.... Rossello said retired workers will still receive their pensions, and that the government will dip into its general fund once the pension system itself runs out of money."
7.  UnitedHealth's Profit Surges But ACA Sales Drag
ABC News Link to more items from this source
July 19, 2016
"UnitedHealth's second-quarter earnings jumped 11 percent to trump expectations even though the nation's largest health insurer took a bigger hit than expected from coverage linked to the [ACA]. The Minnetonka, Minnesota, company said Tuesday that losses from its ACA-compliant individual business came in $200 million above projections, which means the company now expects to lose around $850 million this year from what is essentially a small slice of its total operation."
8.  Employers with Self-Funded Health Plans Dispute Administration's Application of ACA Nondiscrimination Provisions
ABC News Link to more items from this source
Mar. 22, 2016
"The latest dispute over the health care law may have to be resolved by the courts. The law's nondiscrimination section applies federal civil rights protections to programs under the health overhaul. The legal text refers to entities 'receiving federal financial assistance,' interpreted to include insurers, state Medicaid agencies, hospitals and other service providers. It doesn't mention major private employers that run their own health plans. A group representing big employers said its members don't have particular qualms about gender transition. But large employers do object to what they see as an overreach by the Obama administration, since their health plans don't get federal financial assistance."
9.  Six States Sue Obama Administration Over ACA Health Insurance Providers Fee
ABC News Link to more items from this source
Feb. 25, 2016
"The complaint that Texas, Wisconsin, Kansas, Louisiana, Indiana and Nebraska filed in the Northern District of Texas takes issue with the Health Insurance Providers Fee assessed to health insurers to cover federal subsidies.... The suit seeks an injunction against the federal rules that say states are responsible for the fee. It also asks that states be refunded for what they've already paid."
10.  House Votes to Give Former Presidents a Pension Cut
ABC News Link to more items from this source
Jan. 12, 2016
"The House has approved a measure to curb the taxpayer-funded benefits former presidents receive each year after leaving the White House in order to tamp down on benefits afforded to those who make a considerable salary in the private sector. The bill ... would limit yearly presidential pensions to $200,000 -- slightly less than they're allowed now -- but would cut that amount by a dollar for every dollar they earn over $400,000 a year in the private sector."
11.  Union Rallies Outside Patriot Coal Over Pension and Retiree Health Benefits
ABC News Link to more items from this source
Aug. 17, 2015
"The company wants permission from a federal bankruptcy judge in Virginia to reject the company's collective bargaining agreement with union miners and change retirees' health care benefits. Patriot wrote that it would otherwise run out of cash and have to liquidate.... For union mine retirees, a cut to their pensions and health benefits would snap an essential pact that they rely on for their livelihood. This is the second time in two years those benefits have been threatened for Patriot union miners and retirees."
12.  Role of Government Powers at Issue in New Jersey Pension Funding Case
ABC News Link to more items from this source
May 6, 2015
"The state Supreme Court probed whether the state has a contractual obligation to pay what it agreed to in a 2011 pension overhaul law and tried to get lawyers from both sides to explore whether such a finding would represent an overstepping of the courts' role and put it in the middle of the state budget process every year.... Some of what the justices must sort through include whether Christie and lawmakers really meant to make the pension contribution scheduled binding as a contract."
13.  Senate Bill: Vets Won't Trigger ACA Employer Mandate
ABC News Link to more items from this source
Jan. 29, 2015
"A Senate committee voted unanimously Wednesday to exclude veterans from the 50-worker threshold that triggers required coverage for employees under [the Affordable Care Act]. The Senate Finance Committee vote was 26-0, a rare show of unity over a program that is usually fraught with intense partisanship.... The Senate bill would let employers exclude from that count veterans who receive health care from the Department of Veterans Affairs or the military."
14.  Patient Advocacy Groups Claim Insurance Discrimination in New Forms
ABC News Link to more items from this source
Aug. 17, 2014
"Ending insurance discrimination against the sick was a central goal of the nation's health care overhaul, but leading patient groups say that promise is being undermined by new barriers from insurers. The insurance industry responds that critics are confusing legitimate cost-control with bias. Some state regulators, however, say there's reason to be concerned about policies that shift costs to patients and narrow their choices of hospitals and doctors."
15.  Senate Passes Highway Bill But Deletes Pension 'Smoothing' Provision
ABC News Link to more items from this source
July 30, 2014
"The Senate voted Tuesday to keep federal highway money flowing to the states into December but only after rejecting the House's reliance on what lawmakers called a funding 'gimmick'... More than half the $10.8 billion in the House bill was raised by letting companies defer required contributions to their pension plans -- thus increasing the taxes those companies pay ... Lawmakers said such 'pension smoothing' will cost the government money in the long run and undermine the financial stability of pension funds."
16.  Detroit Retirees Approve Pension Cuts by a Landslide
ABC News Link to more items from this source
July 22, 2014
"Pension cuts were approved in a landslide, according to results filed shortly before midnight [July 21]. The tally from 60 days of voting gives the city a boost as Judge Steven Rhodes determines whether Detroit's overall strategy to eliminate or reduce $18 billion in long-term debt is fair and feasible to all creditors.... General retirees would get a 4.5 percent pension cut and lose annual inflation adjustments.... Retired police officers and firefighters would lose only a portion of their annual cost-of-living raise."
17.  States Seek a Spot in Private-Employer Retirement Plan Landscape
ABC News Link to more items from this source
May 5, 2014
"The measures vary in their details, but the general aim is to establish a retirement fund in a state agency that would collect employee contributions, invest the money and pay out benefits when employees retire. Financial services businesses are fiercely lobbying to defeat the proposals, calling the proposed state-run enterprises unnecessary and a threat to private business. Opponents already have claimed one victory this year, knocking off a public retirement system proposed in the West Virginia Legislature."
18.  Major Pension Funds Ask for Climate Change Study
ABC News Link to more items from this source
Oct. 24, 2013
"[L]eaders of 70 funds said they're asking 45 of the world's top oil, gas, coal and electric power companies to do detailed assessments of how efforts to control climate change could impact their businesses. 'Institutional investors must think over the long term, which means that we must take environmental risks into consideration when we make investments,' New York State Comptroller Thomas DiNapoli [said]. The state's Common Retirement Fund manages almost $161 billion of investments."
19.  Obama Health Target: 500,000 Signups by Oct. 31
ABC News Link to more items from this source
Oct. 17, 2013
"For the first month alone, the Obama administration projected that nearly a half million people would sign up for the new health insurance markets, according to an internal memo... But that was before the markets opened to a cascade of computer problems. If the glitches persist and frustrated consumers give up trying, that initial goal, described as modest in the memo, could slip out of reach."
20.  Half of Older Workers Delay Retirement Plans
Associated Press via ABC News Link to more items from this source
Oct. 14, 2013
"Stung by a recession that sapped investments and home values, but expressing widespread job satisfaction, older Americans appear to have accepted the reality of a retirement that comes later in life and no longer represents a complete exit from the workforce. Some 82 percent of working Americans over 50 say it is at least somewhat likely they will work for pay in retirement ... 47 percent of working survey respondents now expect to retire later than they previously thought and, on average, plan to call it quits at about 66, or nearly three years later than their estimate when they were 40."
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