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Financial planning issues wrapped into government spending bill?

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Members of Congress are considering adding provisions to the government spending bill that would impact at least two crucial issues for financial advisers: the DOL's action on fiduciary duty and the right of pensions to cut benefits.

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The Most Important Symbol for Investors Is 'DOL'

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Many investors are glued the financial news, tracking the latest reports about interest rates, earnings reports and stock movements. They believe this kind of intense focus will help them maximize returns. They couldn't be more wrong.

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What to consider when your company offers a pension buyout

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The old rock of retirement income — the pension — is increasingly fading from the American economic landscape.

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Broad-Based Coalition Pushes For Updates To Retirement-Plan Advice

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A broad-based coalition of labor unions and consumer protection groups has reiterated its support for the U.S. Department of Labor (DOL) to update, strengthen and clarify rules around advice provided to workers saving through retirement plans.

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Speakers Tell Council DOL Guidance Needed To Boost Savers’ Lifetime Income Options

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A combination of guidance and online tools from the DOL on lifetime income would help retirement plan participants make good decisions about their retirement funds and investments, a speaker told the ERISA Advisory Council.

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Offering State-Sponsored IRAs to Private-Sector Workers

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California Senate President Pro Tem Kevin de Leon’s “second mother,” his Aunt Francisca, spent most of her 74-plus years cleaning houses for people who had pensions through their employers or were wealthy enough to set aside money in their own retirement accounts.

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Practitioners Say QLAC Rules Widen Choices, But Plans May Be Reluctant to Offer Them

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Recent final rules on qualifying longevity annuity contracts (QLACs)—which can help retirees ensure they have a stream of regular income through their advanced years—received praise from retirement insiders, but the new guidance doesn't guarantee that the products will be embraced, practitioners told Bloomberg BNA in a series of interviews.

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Retirees Suffer as 401(k) Rollover Boom Enriches Brokers

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Kathleen Tarr says AT&T Inc. employees looked to her as “their de facto 401(k) expert.” Visiting their homes and offices, she advised them on their retirement plans as they called up balances on computer screens. Actually, Tarr worked for Royal Alliance Associates, a brokerage firm owned by insurer American International Group Inc. (AIG).

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The United States, on the verge of a retirement crisis

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"For retirement, the answer is 4-0-1-k," proclaimed Tyler Mathisen, then editor of Money magazine in 1996. "I feel sure that someday, like a financial Little-Engine-That-Could, it will pull me over the million-dollar mountain all by itself." For this sentiment, and others like it, Mathisen was soon rewarded with an on-air position at financial news network CNBC, where he remains to this day.

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Connecticut Secure Retirement Plan

Legislation

On May 7, 2014, the Connecticut General Assembly passed a “budget implementer” bill that includes provisions to lay the groundwork for a new state-administered retirement savings plan for private-sector workers who do not have an employer-provided pension or retirement savings plan.

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