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Considering New Uses for SDBAs Self-directed brokerage accounts could be the answer for meeting participants’ ESG investing desires and maybe guaranteed lifetime income needs. Reported by Art by Allie Sullberg Retirement plan participants are demanding environmental, social and governance (ESG) investment opportunities, and, recently, the Federal Thrift Savings Plan (TSP) announced it will make ESG funds available in a new mutual fund brokerage window for the plan. In addition, some investment consultants say private equity can improve participants’ outcomes, and there is a clear need for guaranteed retirement income options for participants. However, no clear regulatory guidance on how to include ESG factors in investment selection for retirement plans has been given; the Department of Labor (DOL) has sanctioned the use of private equity only in asset allocation funds, such as target-date funds (TDFs), for defined contribution (DC) plans. And despite pro ....
Holy See, Philippines mark 70 years of diplomatic relations It was on April 8, 1951 that representatives of the Holy See and the Philippines signed a treaty establishing diplomatic relations. By Robin Gomes The Holy See and the Philippines on Thursday marked the 70 years of diplomatic relations between the two states. Due to the restrictions of the pandemic, the anniversary was marked by a virtual event and a message by the Philippine Secretary of Foreign Affairs. Outgoing Philippine ambassador to the Holy See, Grace Relucio-Princesa, reaffirmed her nation’s commitment to further strengthen the bilateral relations. She assured the government’s continued partnership with the Church because “there’s really room for engagement”. “Let the Philippine embassy in the Vatican start this: diplomacy for humanity, diplomacy for the common good, and one of this is migration,” said the 65-year-old diplomat who is retiring. ....
Industry experts say market volatility and cybersecurity issues could lead to new lawsuits. Reported by Plan sponsors should keep a close watch on retirement plan litigation, as the effects of COVID-19 might spark new lawsuits. The market volatility experienced in March and April, coupled with the cybersecurity risks of remote work, could position some employers to face litigation in the new year, industry experts say. Smaller businesses, which normally lack the resources to invest in multifaceted cybersecurity measures and are therefore susceptible to cyber breaches, may be at risk, says Jordan Mamorsky, an ERISA [Employee Retirement Income Security Act] litigation attorney at the Wagner Law Group. “Smaller plans have a harder time investing in more robust cybersecurity measures, just because of their resources,” he says. ....