ICMA-RC News & Updates
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- 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.
- 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.
- 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.
- Vantagepoint Milestone Funds “Age” Portfolios
- ICMA-RC, posted July 15, 2008
- Vantagepoint Funds today announced the completion of the latest “aging” of its Milestone Fund portfolios.
- Annual Scholarship Awards Dinner Honors Fallen Police, Firefighters, and Public Employees
- ICMA-RC, posted July 15, 2008
- Forty surviving children and spouses of fallen firefighters, police officers and other public safety workers received Vantagepoint Public Employee Memorial Scholarship Fund awards at a dinner this evening at Union Station in Washington, DC.
- New PPA Technical Corrections Bill Passes House
- ICMA-RC, posted July 10, 2008
- A revised version of the Pension Protection Act (PPA) Technical Corrections Act (H.R. 6382) passed the House, July 9, 2008, by a voice vote.
- National Save for Retirement Week Resolution Passed in the House
- ICMA-RC, posted July 1, 2008
- The House of Representatives recently passed H. Res. 1294 designating October 19-25, 2008 as National Save for Retirement Week. A sister resolution, S. Res. 601, introduced on June 25, is awaiting approval in the Senate.
- Miller Ends Pursuit of 401(k) Fee Disclosure Legislation
- ICMA-RC, posted June 23, 2008
- House Education and Labor Chairman George Miller (D-CA) recently acknowledged that his bill regarding 401(k) fee disclosure would not clear the House this session. Miller cited opposition from the House Ways and Means Committee and the White House, as well as difficulties gaining momentum for the bill in the Senate, as reasons for abandoning the legislation.
- Bank of America Corporation has Purchased Countrywide Financial Corporation; ICMA-RC CD Accounts Program to Continue
- ICMA-RC, posted July 1, 2008
- The Bank of America Corporation has purchased Countrywide Financial Corporation (CFC), the parent company of Countrywide Bank, FSB, the institution through which ICMA-RC’s VantageTrust Certificate of Deposit Accounts (“CD Accounts”) are offered. ICMA-RC will continue to work with Countrywide Bank as a wholly owned subsidiary under the Bank of America Corporation. ICMA-RC participants who currently hold investments in CD Accounts will not be affected by these changes.
- ICMA-RC Ready to Assist Plan Sponsors and Participants Affected by Natural Disasters
- ICMA-RC, posted June 25, 2008
- While thousands of people in the Midwest and in California begin the difficult task of rebuilding their lives and their homes following devastating floods and wildfires, ICMA-RC is working with plan sponsors to make emergency relief available to plan participants through their retirement plans.
- Penalty-free Withdrawals for Reservists from Retirement Plans to be Allowed
- ICMA-RC, posted June 23, 2008
- The Incentives for Older Workers Act, S. 2933, would eliminate barriers for older Americans who want to stay in the workforce longer, and encourage employers to recruit and retain older workers.
- ICMA-RC Announces New Actuarial Service for Clients
- ICMA-RC, posted June 11, 2008
- ICMA-RC announced today that Milliman, Inc. will offer ICMA-RC clients access to actuarial services for Governmental Accounting Standards Board (GASB) Statement 45 liability reporting.
- Tapping into Your Retirement Funds Should be a Last Resort, Say ICMA-RC and NLC
- ICMA-RC, posted May 30, 2008
- With millions of homeowners across the nation facing the crisis in subprime mortgages, many with defined contribution retirement plans – including public sector employees – may be tempted to tap into them for loans and ready cash. But any early withdrawals from retirement savings accounts should only be considered a last resort.
- Farm Bill Passes Without Roth Arrangements; Now Included in FAA Reauthorization Bill
- ICMA-RC, posted May 30, 2008
- The House and Senate recently passed a final conference agreement on legislation commonly known as the Farm Bill, but the Roth 457 provision was dropped from the bill.
- Incentives for Older Workers Act
- ICMA-RC, posted May 30, 2008
- The Incentives for Older Workers Act, S. 2933, would eliminate barriers for older Americans who want to stay in the workforce longer, and encourage employers to recruit and retain older workers.
- First Quarter Milestone, Model Funds Outperformed Peer Median in Worst Quarterly Market Since 2002
- ICMA-RC, posted April 30, 2008
- ICMA-RC reported today that all eight of its target-date Vantagepoint Milestone Funds outperformed their Morningstar peer medians in the first quarter of 2008, and for the one- and three-year periods ending March 31, 2008, with each ranking among the top third of its peers for the one-year period.
- Department of Labor Releases Guidance on Qualified Default Investment Alternative Regulations
- ICMA-RC, posted April 30, 2008
- On April 29, 2008, the Department of Labor (DOL) issued technical corrections and guidance to regulations issued last October on qualified default investment alternatives (QDIA) for ERISA plans. The corrections make three changes to the final regulations.
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