Newsmakers
Treasury Names JR Gibbens as Sovereign Wealth Fund Adviser
Air Force veteran Gibbens and others were appointed by Secretary of the Treasury Scott Bessent Wednesday.
Tag: Treasury Department
FinCEN Adviser Sentenced for Leaking Reports to BuzzFeed
The suspicious activity reports focused on subjects such as Paul Manafort and the Russian Embassy.
Pensions
Musician’s Pension Opts for ARPA Over MPRA
Trustees are wagering that relief under the most recent COVID-19 stimulus bill will provide a better option than a reduction in benefits.
Pensions
Indiana Roofers Pension Applies to Treasury for Benefits Cuts
Trustees of Roofers Local No. 88 propose a 10% reduction in benefits across the board.
Pensions
Musicians Pension Fund Reapplies for Benefits Cuts
Previous application to Treasury Department had been rejected over mortality, new entrant rate assumptions.
Asset Management Culture
Two More Pension Funds Apply to Treasury Department for Benefits Cuts
Arizona Bricklayers’ fund submits its first application, while Michigan Carpenters’ fund applies for the second time.
Regulation
IRS, Treasury Soften Blow of Endowment Tax
NACUBO welcomes rule changes but still opposes tax, which it says diminishes resources for students.
Pensions
Ohio Teamsters Pension Fund Seeks Benefits Reduction
The Building Material Drivers Local 436 pension plan is expected to run out of money by 2023.
Newsmakers
Treasury Rejects Benefit Cut Requests from Musicians, Teamsters Pensions
MPRA rejections were the first under Treasury Secretary Mnuchin.
Regulation
US Indicts 33 in $2.5 Billion Scheme to Aid North Korean Nukes
North Korean, Chinese nationals charged with funneling money through US banks.
Risk
Pandemic Relief Could Risk Spousal Retirement Security
Women at higher risk of being hurt by easing of retirement savings requirements.
Pensions
Musicians’ Pension Fund Applies for Benefits Cut
Proposed reductions would affect nearly half of plan’s 51,000 participants.
Newsmakers
Alaska Pension Withdraws Benefits Suspension Application
The Alaska Ironworkers Pension Plan says it will reapply before the end of the year.