Legal

The American Society of Pension Professionals & Actuaries sent a letter to the Internal Revenue Service concerning its proposed changes to the rules regarding purchase of Qualifying Longevity Annuity Contracts (QLACs) under defined contribution plans.

The Ohio Senate fast-tracked legislation on Tuesday aimed at shoring up four of Ohio's five public pension funds, with both political parties supporting passage of the changes as early as next week.

The sale of AIG stock is just the latest in a series of steps that signal the once-troubled insurer's eventual escape from the shadow of its near-collapse in 2008 and 2009.

EBSA provides some extra clarity for plan administrators and service providers, with a second set of FAQs expected in the near future.

Despite a significant increase in the amount of money being put into state retirement coffers, Massachusetts still faces a huge shortfall in plan funding, according to the Boston Herald.

Jindal's push to make thousands of state workers pay more and wait longer for their retirement benefits is planned for an overhaul by senators.