ICMA-RC News & Updates
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- ICMA-RC to Offer Roth 401(k) Feature
- ICMA-RC, posted January 06, 2009
- ICMA-RC today announced it is now offering a Roth 401(k) feature to its existing 401(k) clients. The Roth 401(k) feature is a retirement savings option designed to provide employees with an opportunity to invest additional after-tax dollars with the potential for tax-free withdrawals.
- Current VantageTrust Certificate of Deposit Accounts Program to End; New Program Under Development
- ICMA-RC, posted January 5, 2009
- ICMA-RC has been informed by the Bank of America Corporation (Bank of America) that it will no longer be able to support the VantageTrust Certificate of Deposit Accounts (CD Accounts) program as it is currently structured. The current CD Accounts program will be terminated effective January 30, 2009.
- 2009 Required Minimum Distributions Waived
- ICMA-RC, posted December 26, 2008
- President Bush has signed The Worker, Retiree, and Employer Recovery Act (H.R. 7327) that suspends the need to take required minimum distribution (RMD) payments from defined contribution retirement plans and IRAs for the 2009 tax year. The President signed the measure on December 23, 2008, following unanimous approval in Congress earlier in the month.
- House Committee Hears Testimony on Changes to Defined Contribution
- ICMA-RC, posted Novemeber 24, 2008
- A Message From ICMA-RC President and CEO Joan McCallen
- ICMA-RC, posted October 10, 2008
- IRS Announces Pension Plan Limits for 2009 and Social Security Announces 2009 Wage Base
- ICMA-RC, posted October 20, 2008
- The standard contribution limit for 457 plans increase to $16,500 in 2009. To increase your personal contributions to take advantage of this new limit, please contact your employer and start saving more for retirement today.
- Emergency Economic Stabilization Bill Becomes Law
- ICMA-RC, posted October 6, 2008
- 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.
- Treasury Department Rolls Out Money Market Guarantee Program
- ICMA-RC, posted October 6, 2008
- 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."
- Senate Bill Offers Retirement Plan Tax Breaks to Cope with Midwestern Storms
- ICMA-RC, posted September 26, 2008
- Senate HELP Committee Hearing Focuses on 401(k) Fee Disclosure
- Washington Perspective, posted September 2008
- At a mid-September hearing two members of the Senate Committee on Health, Education, Labor and Pensions (HELP) reemphasized their commitment to expanding 401(k) fee disclosure and the use of software programs that would aid individuals in making investment decisions.
- Senate Leaders Completing Charitable IRA Rollover Provision
- Washington Perspective, posted September 2008
- Key Senate leaders were working in mid-September to reach a bipartisan agreement on how the Senate might address charitable IRA rollover tax incentives that expired in 2007.
- ICMA-RC Statement Regarding Lehman Bros., AIG, Merrill Lynch, and Washington Mutual Developments
- ICMA-RC, posted September 26, 2008
- Several developments concerning large financial institutions had an impact on the stock market on Monday September 15th.
- Federal Government Moves to Stabilize Mortgage Markets with Takeover of Fannie Mae and Freddie Mac
- ICMA-RC, posted September 9, 2008
- U.S. Treasury Secretary Henry Paulson announced the government’s temporary takeover of mortgage giants Fannie Mae and Freddie Mac.
- Proposed Legislation Aims to Limit 401(k) Loans
- ICMA-RC, posted August 28, 2008
- 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.
- All Eight Milestone Funds Now Carry Four or Five Stars
- Posted August 18, 2008
- 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.
- Monroe County, NY Earns NAGDCA 2008 Special Award of Distinction
- ICMA-RC, posted August 7, 2008
- The National Association of Government Defined Contribution Administrators (NAGDCA) awarded Monroe County, NY the 2008 “Special Award of Distinction” for its deferred compensation plan.
- Vantagepoint Funds Outperform in 2nd Quarter
- ICMA-RC, posted August 1, 2008
- 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 Approves Heroes Earnings Assistance and Relief Tax Act of 2008
- Posted July 31, 2008
- 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.
- Financial Stability and Market Volatility: Putting it All in Perspective
- ICMA-RC, posted July 23, 2008
- Recent news about bank failures and the turmoil surrounding the housing market can contribute to investors’ concerns about the stability of various financial institutions.
- House Subcommittee Hearing Considers Changes in IRA Incentives
- ICMA-RC, posted July 11, 2008
- 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.
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