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Plan Sponsor News

Non-Spouse Inherited IRAs Lose Bankruptcy Protection

October 31, 2014

The U.S. Supreme Court, on June 12, 2014, unanimously ruled in Clark v. Rameker that inherited Individual Retirement Accounts (IRAs) do not qualify as "retirement funds," but rather are considered to be "money that can be freely used for current consumption," and therefore are not exempt from a debtor's bankruptcy estate.

ICMA-RC Chief Investment Officer Selected as Finalist for "Industry Innovation Award"

October 30, 2014

ICMA-RC is pleased to announce that its Chief Investment Officer, Wayne Wicker, has been selected as a finalist for Chief Investment Officer's prestigious "Industry Innovation Award" in the Defined Contribution Plan category. According to CIO, "The award highlights the most innovative and positive work being done for, and at, the world's largest pensions, endowments, foundations, and sovereign wealth funds."

IRS Announces 2015 Retirement Plan Contribution Limits

October 23, 2014

On October 23, 2014, the IRS announced the various adjustments applicable to retirement plan contribution limits for 2015. The elective deferral limit for 457 and 401(k) plans increases to $18,000, and the annual additions limit for 401(a) plans increases to $53,000. Traditional and Roth IRA contributions limits are unchanged.

ICMA-RC Encourages Small Steps with National Pack-a-Sack Lunch Day

October 20, 2014

ICMA-RC is encouraging public employees to take small steps toward planning for retirement during National Save for Retirement Week, an effort to promote the importance of saving for retirement.

Regulatory Change Enables In-Plan "Longevity" Annuities

September 30, 2014

The Internal Revenue Service and Treasury Department in July 2014 amended Required Minimum Distribution (RMD) rules to permit the expanded use of "longevity" annuities in retirement plans. The use of longevity annuities, typically purchased at retirement with payments deferred until an individual reaches an advanced age (such as 85), is one approach to reduce the risk of outliving retirement plan savings.

ICMA-RC Congratulates ICMA on Reaching Milestone 100-Year Anniversary

September 12, 2014

ICMA-RC commends its founder, the International City/County Management Association (ICMA), on reaching its milestone 100th anniversary and its continued success in fostering excellence and professional management in local governance to build better communities.

ICMA-RC Wins Multiple Awards

September 3, 2014

ICMA-RC, in partnership with its public sector clients, was recently recognized for its education initiatives and resources, winning more than 15 awards, bringing the total to over 100 awards since 2010. ICMA-RC’s mission is to help public employees build retirement security by providing products, tools, and resources to plan sponsors and participants.

SEC Adopts Changes to Money Market Fund Regulations

August 28, 2014

The Securities and Exchange Commission (SEC) adopted significant changes to the regulation of Money Market Funds (MMFs) on July 23, 2014. The changes are designed to address money market funds' susceptibility to unusual redemptions in times of financial stress like those experienced during the financial crisis of 2008.

GASB Issues Exposure Drafts to Revamp Retiree Medical Accounting Standards

July 31, 2014

The Governmental Accounting Standards Board (GASB) has begun the process of revamping its accounting standards for Other Post-Employment Benefits (OPEB) to "improve the information reported on OPEB for decision-making and accountability purposes, comparability across governments, and transparency for those who avail themselves to it," as well as to align the OPEB standards with the newly implemented pension accounting standards (GASB Nos. 67 and 68).

ICMA-RC Investment Releases Research Brief on Alternative Beta Methodologies

July 10, 2014

ICMA-RC, has released an investment research brief entitled “Alternative Beta: Impact across Market Capitalization and Style: Equal-Weight, Volatility-Dampening and Momentum-Biased Methodologies.” The study reviews the characteristics of a wide range of alternatively constructed passive portfolios.

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