23 10, 2019

Brazil’s Bolsonaro heralds ‘great day’ as Senate approves pension reform

2019-10-23T14:11:54-07:00October 23rd, 2019|Categories: Pension Reform|Tags: , |

Brazil's President Jair Bolsonaro on Tuesday hailed the Senate's approval of a sweeping overhaul of the nation's pension system as a launch pad for the wider economy, although voting on the last few remaining amendments was delayed to the following day. Pension reform is seen by the government and many economists as crucial to stabilizing Brazil's public finances and restoring business confidence, conditions they say will lead to stronger and more sustainable growth in Latin America's largest economy. The [...]

5 06, 2019

The SECURE Act – A Primer on the Top Six SECURE Act Changes that could be coming to Retirement Plans Next Year

2019-06-05T10:19:42-07:00June 5th, 2019|Categories: Pension Reform|Tags: , |

The SECURE Act (the “Act”) passed the House with bipartisan support and is on its way to the Senate with predictions that it could end up on the President’s desk by the end of the year. Here are some highlights of this potential legislation. 1. Longer Life means Later Mandatory Distributions. To account for increases in life expectancy, the Act would increase the age for required minimum distributions from 70 ½ to 72. The Act will also repeal the [...]

30 05, 2019

New Bill Would Conduct the Largest Investigation of Private Pensions in 40 Years

2019-05-30T14:16:16-07:00May 30th, 2019|Categories: Pension Reform|Tags: , , |

Bipartisan US senators are proposing legislation in an effort to secure workers’ retirement benefits in the long run, through the formation of a new retirement commission that would guide private retirement plans to a more sustainable future. Coined the Federal Retirement Commission Act, Sens. Todd Young, an Indiana Republican, and Cory Booker, a New Jersey Democrat, would create a group responsible for reviewing private benefit programs and submitting to Congress recommendations on how to improve or replace the programs. [...]

24 04, 2019

Brazil pension reform is constitutional, congressional committee votes

2019-04-24T10:47:44-07:00April 24th, 2019|Categories: Pension Reform|Tags: , |

Pension reform in Brazil cleared a congressional hurdle late on Tuesday after a lengthy and tumultuous debate, a sign that the government was finally building support for its most important economic reform, but which may face a steep climb ahead. The Constitutional and Legal Affairs Committee (CCJ) in the lower house of Congress approved the constitutionality of a reform bill by 48 votes to 18, paving the way for analysis and discussion by a special commission. However, that optimism [...]

18 07, 2018

Pension Plan Rescue Legislation Getting Tough to Price

2018-07-18T11:24:15-07:00July 18th, 2018|Categories: Pension Reform|Tags: , , |

An effort to shore up troubled pension plans for many middle-class workers comes with a squishy price tag. A bill (S 2147) by Sen. Sherrod Brown, D-Ohio, would create a Pension Rehabilitation Administration within the Treasury Department that could make loans to multiemployer pension plans for union workers. Those plans have been estimated to be underfunded by about $65 billion, endangering the retirements of about 1.5 million residents nationwide. The Congressional Budget Office had provided a preliminary estimate several [...]

26 04, 2018

Sen. Sherrod Brown Pushes Pension Protections

2018-04-26T09:35:37-07:00April 26th, 2018|Categories: Pension Reform|Tags: , , |

U.S. Senator Sherrod Brown, of Ohio, who has been sounding the alarm on a pending pension crisis and was named co-chair of the newly-formed Joint Select Committee on the Solvency of Multiemployer Pension Plans, spoke at a National Press Club in Washington, D.C.  Sen. Brown continues to work to strengthen and improve programs that protect senior citizens, so future generations can enjoy retirement with a sense of security. Source: GoIAM.org

21 12, 2017

Scores injured as violent protests breakout against pension reform plans

2017-12-21T10:16:53-08:00December 21st, 2017|Categories: Pension Reform|Tags: |

Argentine lawmakers passed the controversial pension legislation Tuesday in a 128 to 116 vote after debating for more than 12 hours. The bill, which had already passed the Senate, angered many retirees and sparked huge protests on the streets of Buenos Aires on Monday night. Masked demonstrators hurled firecrackers, bottles and gasoline bombs at police officers guarding the Congress building. Security forces in the Argentine capital responded with water canons and fired rubber bullets at demonstrators. According to reports, as many [...]

21 12, 2017

Brazil Tries to Avert Credit Downgrade as Pension Reform Doubts Grow

2017-12-21T10:13:37-08:00December 21st, 2017|Categories: Pension Reform|Tags: , |

Brazil’s Finance Minister Henrique Meirelles will speak to major credit rating agencies on Thursday as the government scrambles to avoid a sovereign debt downgrade due to growing doubts that its proposed pension reform can rein in surging public debt. A vote on the unpopular bill to overhaul the social security system, seen as vital to closing the fiscal deficit, has been delayed to 2018 after failing to muster support in Congress. Lawmakers have warned that handling the hot-button issue [...]

21 12, 2017

Pension Reform Comes In Many Shapes And Sizes

2017-12-21T10:10:48-08:00December 21st, 2017|Categories: Pension Reform|Tags: |

Albert Einstein once said we cannot solve our problems with the same level of thinking that created them. Unfortunately, when it comes to the nation’s struggling public pensions, now more than $1 trillion in debt, that’s exactly what’s been happening. For years, state and local policymakers have been trying to keep their heads above water, while ignoring the coming pension debt tsunami. That is until recently. Over the past year, three states have made the tough decision to tackle [...]

8 11, 2017

Brazil’s pension reform can be approved in 2018, minister says

2017-11-08T18:48:26-08:00November 8th, 2017|Categories: Pension Reform|Tags: |

The pension overhaul proposed by Brazil’s government can be approved by Congress next year despite upcoming elections if there is no time to do so in 2017, Finance Minister Henrique Meirelles told journalists on Tuesday. Meirelles also said he expects to submit to Congress within two weeks a bill empowering creditors in debt restructuring processes. Source: Reuters

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