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The article focuses on the U.S. Department of Labor's proposed rule to redefine investment advice within private sector pension and retirement plans, replacing the current five-part test with a new definition. Topics include the potential impact on fiduciary standards, proposed amendments to prohibited transaction exemptions, and the regulatory history leading up to the 2023 proposal, including previous controversies and legal challenges.

The article focuses on pensions and Individual Retirement Accounts (IRAs) as vital sources of retirement income for American households, with recent congressional interest centering on various investment issues. Topics include the role of environmental, social, and governance (ESG) investing in pension plans, regulatory responses to private sector pension issues, and legislative activity concerning the investment practices of the Thrift Savings Plan (TSP) and other retirement accounts.

Social Security spousal benefits were established in the 1930s to help support wives who are financially dependent on their husbands. It has since become more common for both spouses in a couple to work, leading to more cases in which both members of a couple are entitled to Social Security or other government pensions based on their own work records. Social Security does not provide both a full retired-worker and a full spousal benefit to the same individual. Two provisions are designed to reduce the Social Security spousal benefits of individuals who are not financially dependent on their spouses because they receive benefits based on their own work records. These are • the dual entitlement rule, which applies to spouses who qualify for both (1) Social Security spousal benefits based on their spouses' work histories in Social Security-covered employment and (2) their own Social Security retiredor disabled-worker benefits, based on their own work histories in Social Security-covered employment; and • the Government Pension Offset (GPO), which applies to spouses who qualify for both (1) Social Security spousal benefits based on their spouses' work histories in Social Security-covered employment and (2) their own retirement or disability government pensions, based on their own work in government employment that was not covered by Social Security. The dual entitlement rule requires that 100% of a Social Security retirement or disability benefit as a covered worker is subtracted from any Social Security spousal or widow(er)'s benefit an individual is eligible to receive. The GPO reduces Social Security spousal or widow(er)'s benefits by two-thirds of the retirement or disability pension from noncovered government employment. The GPO does not reduce the benefits of the spouse who was covered by Social Security. In December 2023, 745,679 Social Security beneficiaries (about 1% of all beneficiaries) had spousal or widow(er)'s benefits reduced by the GPO. Opponents contend that the GPO is imprecise and can be unfair. Defenders argue it is the best method currently available for preserving the spousal benefit's original intent of supporting financially dependent spouses and for eliminating an unfair advantage for spouses working in non-Social Security-covered employment compared with spouses working in Social Security-covered jobs (who are subject to the dual entitlement rule). [ABSTRACT FROM AUTHOR]

The article focuses on helping people find military service records, awards, and unit histories with thorough information on how to access various sources, such as personnel files at the National Archives, and ways to receive military awards. Topics include receiving military awards and decorations through the National Personnel Records Center and other pertinent authorities, accessing military service records and pension files, and navigating the corrections process.

The article focuses on U.S. retirement assets data, highlighting that as of December 31, 2022, there were 37.8 trillion U.S. Dollar in total retirement assets, with 26.3 trillion U.S. Dollar in employer-sponsored plans and fund in Individual Retirement Accounts (IRAs). Topics include the classification of employer-sponsored plans, the increase in real retirement assets from 2013 to 2022, and the varying growth rates of different types of retirement plans during this period.

The article offers information about the basics of funding for single-employer defined benefit pension plans. It discusses the balance sheet of a typical defined benefit plan, including plan assets and liabilities. The funding ratio of a defined benefit plan and the annual employer contributions are also covered. The article further explores the Pension Protection Act of 2006, including interest rates, amortization periods, and special rules for certain plans.

The article focuses on U.S. Congress has created a variety of tax-advantaged savings accounts to encourage taxpayers to save for certain expenses. It mentions first tax-advantaged savings accounts enacted were pensions and retirement accounts such as 401(k)s, 403(b)s, and Individual Retirement Accounts (IRAs), which remain the most widely held and well-funded tax-advantaged accounts. It also mentions accounts to pay for out-of-pocket health care costs using Health Savings Accounts (HSAs).

The article focuses on 403(b) pension plans, detailing their structure, federal regulations, and recent legislative developments. Topics include the distinction between defined benefit (DB) and defined contribution (DC) plans, the federal regulations applicable to both public and private sector pension plans, including contributions, investments, and recent legislative changes such as the formalization of multiple employer plans (MEPs) and pooled employer plans (PEPs) under SECURE 2.0.

The article focuses on the U.S. Congress has expressed interest in improving retirement income security for older Americans. It mentions proportion of aged individuals who received household income from each source and the amount received, using the 2018 Health and Retirement Study (HRS) linked with administrative data from the Social Security Administration (SSA). It also mentions older received household income from pensions, annuities, and Individual Retirement Accounts (IRAs).

Jubilant Ingrevia has informed that the Board of Directors of the Company at its meeting held today October 22, 2024 noted superannuation of Chandan Singh Sengar, Co-CEO and Whole-time Director, effective from close of business hours of October 31, 2024. The Board of Directors places on record its appreciation for the services rendered by Chandan Singh Sengar and for his unwavering commitment to Jubilant. The Board Meeting commenced at 10:25 am and concluded at 2:00 pm.The above information is a part of company's filings submitted to BSE. [Extracted from the article]

The scheme is in its 10th year of rollout [ABSTRACT FROM AUTHOR]

Engineers India has announced a change in its board of directors. Rajeev Gupta, who held the position of Director (Projects) and Director (HR), has retired upon reaching the age of superannuation. The Ministry of Petroleum & Natural Gas, Government of India, has approved Atul Gupta, the Director (Commercial), to assume the additional charge of Director (Projects) for a period of three months or until a regular replacement is appointed. Atul Gupta has assumed the role of Director (Projects) as of October 1, 2024. This information was provided by Engineers India in their filing to the Bombay Stock Exchange. [Extracted from the article]

The article discusses the windfall elimination provision (WEP) of the Social Security federal insurance program in the U.S. Under the program, workers and their qualified family members will receive cash benefits during a worker's retirement, disability or death. The WEP reduces the benefits of certain disabled or retired workers if they are also receiving pension benefits. Also cited are the proposals to abolish WEP or replace it with one that benefits both covered and noncovered employment.

Workers at a Nestlé chocolate products plant in Toronto, Canada, have gone on strike over issues with their pension provisions and the time it takes to reach the top rate of pay. The strike includes machine operators, bar packers, shippers and receivers, and general laborers. The union representing the workers, Unifor, stated that retirement security is important to its members, and they are determined to fight for a fair deal. Nestlé Canada claims to have reached a tentative agreement with the union, but the workers were not satisfied with the proposed package. The strike is not expected to immediately impact the availability of Nestlé products. [Extracted from the article]

Premier Foods, the owner of brands such as Oxo, Homepride, and Mr Kipling, will receive a £33m windfall after agreeing to suspend pension deficit contribution payments. The company reached an agreement with the RHM Pension Scheme trustees to suspend payments from 1 April. This move is happening earlier than expected due to the strong performance of the pension scheme. Premier Foods anticipates no further contributions to be payable after the financial year ending 29 March 2025. The suspension of pension payments will increase the company's free cash flow and provide capital allocation options for growth. Premier Foods shares rose significantly after the announcement. [Extracted from the article]

The article focuses on two types of pension plans that private-sector employers offer as defined contribution plans, in which participants have individual accounts that can provide a source of income in retirement, and defined benefit plans, in which participants receive regular monthly benefit payments in retirement.

The article reports that A pension is a voluntary benefit that employers can offer to assist employees in providing for their financial security in retirement. Pension plans receive a number of tax advantages and vary along a number of characteristics, such as whether the employer that sponsors the plan is in the public or private sector and whether the benefit is paid according to a specified formula.

The article focuses on Uruguay stands out in Latin America for its strong democratic institutions; high per capita income; and low levels of corruption, poverty, and inequality. It mentions Uruguay has a long democratic tradition but experienced 12 years of authoritarian rule following a 1973 coup and government proposed major reforms of the pension and education systems. It also mentions Lacalle Pou's popularity has suffered as a result of the political battles over labor and pension reforms.

In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Power Grid Corporation of India has informed that on attaining the age of superannuation, Upendra Pande and Upananda Kataki, Executive Directors (ED) of the company, have ceased to be ED (i.e. Senior Management Personnel - One level below the Board of Directors) of the company with effect from 31.08.2024. The other information as per SEBI Circular dt.13.07.2023 are enclosed.The above information is a part of company's filings submitted to BSE. [Extracted from the article]

Gujarat Industries Power Company has announced a change in directors. A K Rakesh, who held the position of Chairman and Director, has resigned from the company due to his superannuation from the position of Additional Chief Secretary, Agriculture, Farmers Welfare & Co-operation Department, Government of Gujarat. This change took effect on July 31, 2024. A K Rakesh was a nominee of the Government of Gujarat. This information was disclosed in the company's filings submitted to the BSE. [Extracted from the article]

The partnership aimed at delivering end-to-end administration services for superannuation, wealth, and pensions companies transitioning from legacy IT environments [ABSTRACT FROM AUTHOR]

The partnership aimed at delivering end-to-end administration services for superannuation, wealth, and pensions companies transitioning from legacy IT environments [ABSTRACT FROM AUTHOR]

The article addresses frequently asked questions about U.S. federal retirement plans. Topics discussed include service creditable under the Civil Service Retirement System (CSRS) and Federal Employees Retirement System (FERS), required contributions and retirement age for CSRS and FERS employees, calculation of CSRS and FERS retirement benefit, cost-of-living adjustments applied to CSRS and FERS benefits, and Social Security contributions.

The article presents weekly statutory instruments, listing all statutory instruments dealing with education in United Kingdom. The statutory instruments listed are Higher Education Short Course Loans Regulations 2022; Further Education Loans (Amendment) Regulations 2022; and Teachers' Pension Scheme (Amendment) Regulations (Northern Ireland) 2022.

The article focuses on the U.S. Congressional Research Service. It reports on retirement income security for older Americans. Topics include sources of retirement income, retirement income adequacy, and congressional interest in improving retirement income security. It mentions that older Americans receive income from various sources, including Social Security, pensions, retirement savings, asset income, and earnings, and that Social Security is the largest source of income among the aged.

A country report for Latin America is presented from publisher Fitch Solutions with topics including external debt obligations in Argentina, interest rate in Paraguay and withdrawal reform of Chile's pension system.

Social Security is a work-based, federal insurance program that provides income support to workers and their eligible family members in the event of the worker 's retirement, disability, or death. A worker's employment or self-employment is considered covered by Social Security if the services performed in that job result in earnings that are taxable and creditable for program purposes. Although participation in Social Security is compulsory for most workers, about 6% of all workers in paid employment or self-employment are not covered by Social Security. The windf all elimination provision (WEP) is a modified benefit formula that reduces the Social Security benefits of certain retired or disabled workers who are also entitled to pension benefits based on earnings from jobs that were not covered by Social Security and thus not subject to the Social Security payroll tax. Its purpose is to remove an unintended advantage or "windfall" that these workers would otherwise receive as a result of the interaction between the regular Social Security benefit formula and the workers' relatively short careers in Social Security-covered employment. In December 2020, about 1.9 million people (or about 3% of all Social Security beneficiaries) were affected by the WEP. Those workers mainly include state and local government employees covered by alternative staff-retirement systems as well as most permanent civilian federal employees hired before January 1, 1984, who are covered by the Civil Service Retirement System (CSRS). WEP's supporters argue that the formula is a reasonable means to prevent overgenerous payments and unintended benefits to people who have earnings not covered by Social Security and receive pensions from noncovered work. Opponents argue that the provision substantially reduces a benefit that workers may have included in their retirement plans, and it reduces benefits disproportionately for lower-earning households. Others criticize the current WEP formula as an imprecise way to determine the actual windfall when applied to individual cases. Recent legislation has generally proposed either to eliminate the provision for all or some affected beneficiaries, or replace the current-law provision with a new proportional formula based on past earnings from both covered and noncovered employment. [ABSTRACT FROM AUTHOR]

A multi-agent, moral-hazard model of a bank operating under deposit insurance and limited liability is used to analyze the connection between compensation of bank employees (below CEO) and bank risk. Limited liability with deposit insurance is a force that distorts effort down. However, the need to increase compensation to risk-averse employees in order to compensate them for extra bank risk is a force that reduces this effect. Optimal contracts use relative performance and are implementable as a wage with bonuses tied to individual and firm performance. The connection between pay for performance and bank risk depends on correlation of returns. If employee returns are uncorrelated, the form of pay is irrelevant for risk. If returns are perfectly correlated, a low wage can indicate risk. Connections to compensation regulation and characteristics of organizations are discussed. [ABSTRACT FROM AUTHOR]

A country report for Switzerland is presented from publisher OECD Economic Surveys with topics including monetary policy of the country, rising demand for health care and long-term care of the country and pension system in the country.

The article discusses about the UK Government consultations on education undertaken by departments and their agencies on topics including school improvement monitoring and brokering grant: payment conditions, arrangements for non-exam assessment for qualifications in 2022 and amendment draft for teachers' pension scheme regulations 2021.

Chairman Neal, Ranking Member Brady, and Members of the Committee. Thank you for the opportunity to discuss developments in retirement income policy in the United States. Today I wish to [...]

The article focuses on Federal Reserve's Financial Accounts of the U.S. reported that the total amount of U.S. retirement assets which shows the pension plans and Individual Retirement Accounts (IRAs). It mentions public sectors offer one of two types of pension plans defined benefit (DB) plans or defined contribution (DC) plans. It also mentions DC plans—such as 401(k) plans, 403(b) plans, 457(b) plans, and the federal government's Thrift Savings Plan (TSP).

The article focuses on retirement plans, such as 401(k)s or defined benefit plans, are optional for employers to adopt, some workers may not have access to employment-based retirement benefits. It mentions unrelated businesses may jointly sponsor a 401(k) plan; and payroll deduction Individual Retirement Accounts (IRAs). It also mentions self-employed workers and those who do not work for a participating employer to self-enroll.

The article presents an overview of the Government Pension Offset (GPO), a provision designed to reduce the Social Security spousal benefits of individuals in the U.S. who are not financially dependent on their spouses. It discusses the purpose of the Social Security spousal benefits, the Social Security covered and non-covered worker, the GPO formula, and parity between spouses subject to the Dual Entitlement Rule and the GPO.

The article provides an overview of the Social Security benefit calculation process in the U.S. Topics discussed include the significant effect of Social Security on the income support for and poverty reduction of beneficiaries, factors to consider in determining the average indexed monthly earnings (AIME) of a worker, and situations that merit benefit adjustments, namely, the application of the windfall elimination provision, government pension offset and retirement earnings test.

The article focuses on Social Security Administration (SSA) acquires and maintains death data to administer the Social Security and Supplemental Security Income (SSI) programs. It mentions need of preventing the improper payment of benefits to deceased individuals and identifying individuals who are potentially eligible for survivor benefits. It also mentions authority granted and limitations imposed by the Social Security Act.

The article presents a report of the U.S. Congressional Research Service (CRS), that talks about U.S. worker's participation in employer-sponsored pensions. It mentions employers offer several types of pension plans such as defined benefit (DB) plans or defined contribution (DC) plans. It mentions that workers contribute a percentage of their wages to individual accounts established by the employers.

The article offers information about the multiemployer defined benefit (DB) pension plans sponsored by employers and maintained as part of a collective bargaining agreement. It mentions the benefits associated with the DB pensions in retirement in the U.S. It discusses about the Pension Benefit Guaranty Corp., a federally chartered corporation that insures participant benefits in private-sector DB pension plans.

The article focuses on multiemployer defined benefit (DB) pension plans are private-sector pensions sponsored by more than one employer and maintained as part of a collective bargaining agreement. It mentions Pension Benefit Guaranty Corp. insures the benefits of participants in private-sector DB pension plans up to a statutory maximum. It also mentions insolvencies of these plans could affect the employers that contribute to multiemployer plans.

Poland's new Employee Capital Plans (PPK) scheme, which is mandatory for employers, started to be implemented in July 2019. The article looks at the systemic solutions applied in the programme from the perspective of the concept of the simultaneous reconstruction of the retirement pension system. The aim is to present arguments for and against the project from the point of view of various actors, and to assess the chances of success for the new system. The article offers a detailed study of legal solutions, an analysis of the literature on the subject, and reports of institutions that supervise pension funds. The results of this analysis point to the lack of cohesion between certain solutions of the 1999 pension reform and expose a lack of consistency in how the reform was carried out, which led to the eventual removal of the capital part of the pension system. The study shows that additional saving for old age is advisable in the country's current demographic situation and necessary for both economic and social reasons. However, the systemic solutions offered by the government appear to be chiefly designated to serve short-term state interests and do not create sufficient incentives for pension plan participants to join the programme. [ABSTRACT FROM AUTHOR]

This paper documents the reversal of pension privatization and the reforms that took place in the 1990s and 2000s in Nicaragua. The report analyses the political economy of different reform proposals, and the characteristics of the new pension system, including laws enacted, governance and social security administration, social dialogue, positive impacts and other key issues of the Nicaraguan pension system. [ABSTRACT FROM AUTHOR]

A country report for Southern Cone is presented from publisher BMI Research, with topics including labour and political reforms in Argentina; risks to economic policy decisions faced by Uruguayan President Tabaré Vázquez; and legislative agenda related to pensions and tax in Chile.

The article focuses on the budget and trust funds of Federal Employees' Retirement System (FERS). It mentions FERS annuities are fully funded by the sum of employee and employer contributions and interest earned by the Treasury bonds held by the Civil Service Retirement and Disability Fund (CSRDF). It also mentions pension expenditures are projected to decline relative to the government's wage and salary expenses.