Those regs, slated to go into effect Jan. 1, require that retirement plans run by non-profit groups must have new plan document rules in place.
The Ryland Group has become the latest home builder to slash its dividend, chopping its quarterly dividend by 75% to 3 cents a share, from 12 cents.
Confidence among Americans regarding their future personal financial conditions and the jobs market continue to decline, dropping the index near to its all-time low of this past July.
The number of first-time jobless claims was 573,000 for the week ending Dec. 6, a 58,000 increase from the previous week.
The Reserve Management Co. Inc. of New York has announced that it has begun distributions for 12 of its money market mutual funds and gave a distribution schedule for a host of others.
Excise taxes imposed on retirement savings account holders who do not take minimum distributions by age 70½ would be suspended for 2009 under legislation unanimously approved last night by the House of Representatives.
A lower appetite for risk among investors has added up to some lousy returns for hedge funds concentrated in emerging markets, according to the latest data from HFR Group LLC in Chicago.
The SEC finalized settlements today with Citigroup and UBS that will provide nearly $30 billion to tens of thousands of customers who invested in auction rate securities before the market for these investment products dried up in February.
Money market mutual funds that invest in Treasuries could cost investors money if the Federal Reserve Bank cuts interest rates further, according to Peter Crane, president of the Westborough, Mass.-based research firm Crane Data LLC.
Most investors are satisfied with the way their portfolios have held up in the market downturn, according to a survey by Natixis Global Associates of Boston.
