PRC In the News

Minorities’ Retirement Plans Hit Hard In Tough Economy
Continued economic uncertainty has led many workers to dip into their retirement savings, but minorities have been the hardest hit, according to a report by the Ariel Education Initiative (a nonprofit affiliate of Ariel Investments) and the human resources company Aon Hewitt.

Expected Final Rules ‘Meaningfully’ Altered From 2010 Proposed Hybrid Rules, Iwry Says
The Treasury Department will soon release final rules on cash balance and pension equity plans that will be significantly different from the proposed rules, a senior Treasury official said April 23 at a U.S. Chamber of Commerce briefing.

Pension Rights Center, Other Groups Express Support for DOL Electronic Disclosures Policy
Seven groups, including the Pension Rights Center and the AFL-CIO, wrote a letter April 19 to the Department of Labor urging the continued use of the department’s current policy regarding electronic communications to plan participants.

On Defined Contribution Plans, U.S. Should Follow Other Countries: Report
This week U.S. defined contribution plan sponsors received a startling piece of news: At least four countries outside the U.S have better fee disclosure practices than those in the U.S. The report, issued by the General Accounting Office in March, reviewed best practices in hopes of enlightening U.S. retirement plan providers and regulators.