Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
The head of the House's tax-writing committee is putting forward legislation to give temporary tax relief to victims of hurricanes Harvey, Irma and Maria. The bill proposed Friday by Rep. Kevin Brady, R-Texas, chair of the House Ways and Means Committee, would ease requirements for deducting individual property losses and allow people to draw on their retirement funds without penalty.
Wells Fargo & Co on Aug. 31 raised the estimate of accounts opened without customers' knowledge by 1.4 million, bringing the total to about 3.5 million. The scandal over phony accounts came to light last September after the company announced a $185 million settlement with regulators to atone for the sales abuses.
The San Diego County pension system does not want to pursue a whistleblower complaint against its former portfolio strategist and other advisers and instead is asking a judge to dismiss a False Claims Act lawsuit filed earlier this year. In a 20-page pleading filed in Superior Court this week, lawyers for the San Diego County Employees Retirement Association urged the judge to close the case filed in February by Jeff Baker, a former staff investment officer for the pension system who was fired in 2011.
Republicans in Congress are gearing up to fight for lower tax rates. But how do you pay for those cuts? One possible solution on the table: Taxing you on your retirement savings up front.
The U.S. Supreme Court is set to issue the final rulings of its current term on Monday, including one on religious rights, amid talk that swing voter Justice Anthony Kennedy is considering retirement. The court in the coming days is also expected to act on President Donald Trump's emergency request seeking to revive his travel ban on people entering the United States from six Muslim-majority countries, which was blocked by lower courts.
Candidates in Georgia's 6th Congressional District race Republican Karen Handel, left, and Democrat Jon Ossoff prepare to debate Tuesday, June 6, 2017, in Atlanta. The two meet in a June 20 special election.
Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events ONE OF President Barack Obama's last major policies was the " fiduciary rule ," a Labor Department regulation aimed at alleged conflicts of interest in the professional advice that millions of Americans receive about their tax-advantaged retirement accounts. To cut a long story short, previous regulations require advisers to find their clients "suitable" investments, a looser standard than applies to fiduciaries, who are legally obligated to serve the client's " best interest ."
CalSTRS expresses concern about H.R. 10 bill provisions that could reduce SEC oversight and remove critically important investor protections WEST SACRAMENTO, Calif. - CalSTRS Chief Executive Officer Jack Ehnes issued the following statement reflecting the Teachers' Retirement Board's decision to oppose H.R. 10 , also known as the Financial CHOICE Act of 2017: "The Financial CHOICE Act is shrouded in rhetoric about fixing the United States economy and lifting the regulatory burden on our financial institutions.
President Donald Trump's proposed $4.1 trillion budget slashes safety net programs for the poor, targeting food stamps and Medicaid, while relying on rosy projections about the nation's economic growth to balance the budget within 10 years. The cuts are part of a budget blueprint for the upcoming fiscal year that amount to a dramatic restructuring of the government, with protection for retirement programs for the elderly, billions of dollars more for the military and the rest of the government bearing the bulk of the reductions.
James Comey's ouster from the top of the FBI sent shock waves through Washington, and left many wondering what happens next for him. The FBI director job was a step down in pay from his previous roles as general counsel for an aerospace giant and a hedge fund, even though the role is a level III position in the executive schedule.
Dozens of retired teamsters held a rally Tuesday just outside the government agency tasked with overseeing retirement funds. Congressman Emanuel Cleaver joined the rally near Union Station at the Employee Benefits Security Administration Offices to raise the profile of a bill introduced Tuesday by Senator Bernie Sanders and co-sponsored by Missouri Sen. Oak Street, which lines up with the Heart of America Bridge and goes by the federal courthouse, the City Hall and Sprint Center, has seen unending construction over the years.
Senate Majority Leader Mitch McConnell of Ky. pauses while meeting with reporters on Capitol Hill in Washington, Tuesday, May 2, 2017, following a policy luncheon.
The U.S. Senate voted narrowly on Wednesday to repeal an exemption from strict federal protections that former President Barack Obama's Labor Department had given to state-sponsored retirement savings plans for lower-income workers. The exemption, championed by states such as California but opposed by the mutual fund industry, had freed the state-run plans from the strict compliance requirements of the Employee Retirement Income Security Act, or ERISA.
Retired teachers in Ohio will not see a cost of living raise for the next five years. The State Teachers Retirement System board has voted to stop the payment increases after they re-assessed their assets and liabilities.
Coal companies say a new Republican plan to extend retiree health benefits is fair, but unionized miners worry it will siphon federal resources they believe should be used for their pensions . The measure, which hasn't yet been introduced, shifts the cost of retiree health insurance from coal companies to the federal government.
President Donald Trump signed legislation Thursday allowing states to withhold federal family planning dollars from clinics that provide abortion services, a move that effectively deprives Planned Parenthood and several other family groups of a significant source of funding. The move marked the 12th time that Trump has signed a resolution under the 1996 Congressional Review Act abolishing a rule issued under President Barack Obama.
Often, advocates could not raise enough money for signature gathering, advertising and other costs of an initiative campaign. Some of the most promising efforts, however, ran into a different kind of obstacle: an official summary, written by the state attorney general, that described the initiative in terms likely to alienate voters.
Saving for the future is a vital part of ensuring a secure retirement. American Savings Education Council and America Saves coordinate the annual America Saves Week.
Steve Mnuchin smiles next to U.S. President Donald Trump after being sworn in as Treasury Secretary in the Oval Office of the White House, Feb. 13, 2017, in Washington. It has become something of a parlor game to try to project the likely effects on investment markets of President Trump 's multi-pronged financial initiatives.