United States – Benefits Canada.com

New U.S. pension law strengthening retirement savings for workers

Sadie Janes — Fri, 13 Jan 2023 14:00:16 +0000

A new U.S. law that aims to strengthen retirement support for workers holds valuable lessons for Canada’s retirement system, says one pension consultant. The Secure 2.0 Act of 2022, which was signed into law in December, contains several provisions to enhance the U.S. retirement system and boost retirement savings, including a requirement for plan sponsors to […]

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U.S. bill could deny gig workers minimum wage and other protections

Sadie Janes — Fri, 05 Aug 2022 19:00:05 +0000

A bill that would amend U.S. labour law to establish a new classification for gig workers could also deny them the right to a minimum wage and other employment protections. The Worker Flexibility and Choice Act would change the Fair Labor Standards Act so ’employee’ doesn’t include anyone who’s entered into a worker-flexibility agreement, such […]

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Idaho looking to pass bill banning pension investments in ESG-conscious businesses

Gideon Scanlon — Thu, 24 Mar 2022 15:00:31 +0000

Idaho lawmakers are calling for a ban on investments in environmental, social and governance compliant companies by its state pension funds. Proposed by Republican State Senator Steve Vick, the bill would bar the state’s public sector pension plans from investing in companies that have made any ESG commitments. In its second reading, the bill received […]

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PIAC urging SEC to adopt broader ESG reporting rules

Gideon Scanlon — Tue, 22 Jun 2021 13:00:45 +0000

The Pension Investment Association of Canada is urging the U.S. Securities and Exchange Commission to adopt new rules mandating enhanced disclosures of climate risks and other environmental, social and governance factors. In a letter submitted by Natasha Trainor, PIAC’s chair, the association said it supports regulatory proposals that would require businesses to disclose more information on […]

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Bidenomics: More stimulus, tougher regulation and gridlock

mschmit — Thu, 12 Nov 2020 05:25:46 +0000

President-elect Joe Biden will inherit a vulnerable economic recovery under threat from a resurgent virus, likely with a divided Congress that will hinder his ability to address the challenges. Yet despite the obstacles, the former vice-president and senator will pursue a drastic shift in America’s economic policy. He has vowed to reverse much of the […]

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Markets sending mixed signals leading up to U.S. election

mschmit — Wed, 14 Oct 2020 05:41:24 +0000

With U.S. stock prices exceeding pre-coronavirus highs and credit spreads nearly as tight as before the pandemic, investors are signalling overconfidence in the market, says Rob Almeida, portfolio manager and global investment strategist at MFS Investment Management. While polls and betting odds appear to be favouring a Joe Biden win, that doesn’t align with what […]

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Fed sees dim economic outlook as virus squeezes economy

mschmit — Thu, 30 Jul 2020 03:33:33 +0000

Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future. That faltering economy, pressured by a resurgence of the […]

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Pension risk-taking in a low-interest rate environment

mschmit — Wed, 21 Aug 2019 03:39:30 +0000

When interest rates are low, how does this influence U.S. public pension plans’ propensity to take risk? In a working paper looking at the period between 2002 and 2016, the Federal Reserve Bank of Boston found, on average, pension funds take more risk when both risk-free rates and funding ratios are lower. Specifically, the paper’s […]

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