The House of Representatives Friday (October 3, 2008) gave final approval of the $700 billion Emergency Economic Stabilization Act on a vote of 263 to 171. President Bush signed the legislation into law shortly after.
On September 29, 2008, the U.S. Department of the Treasury announced the establishment of a Temporary Guarantee Program for Money Market Funds. Under this program, Treasury will guarantee that eligible money market fund investors will receive $1 for each money market share held as of September 19, 2008. The program is designed to respond to what Treasury called "temporary dislocations in the credit markets" that came after some money market funds saw their share prices fall below $1, known as "breaking the buck."
Sen. Charles Schumer (D-NY) and Sen. Herb Kohl (D-WI) recently introduced a bill, S. 3278, which would prohibit companies from issuing 401(k) debit cards.
Five Vantagepoint Funds have received updated overall star ratings3 from Morningstar effective July 2008, giving all eight Vantagepoint Milestone Funds1 an overall rating of four or five stars.
ICMA-RC’s Vantagepoint Funds1 target-risk Model Portfolio Funds1,4 again outperformed Morningstar category peer medians in the second quarter, with all five funds in the top one-third of peers.
President Bush signed legislation in June that improves retirement plan benefits of employees who serve in the military in part by bridging their service to their existing employment benefits.
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.
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.