A mere 30-basis point difference can mean more than $115,000 over 30 years.
The organization says its less expensive and simpler than an automatic IRA.
Geithner tells the European Commission the rules would deny U.S. hedge funds access to EU markets.
The Federal Reserve has expanded its universe of sources of reverse repos beyond primary dealers to include money market funds.
ClickOne uses patented technologies used by 17 million end users around the world.
On Wednesday's split 3-2 vote along party lines, the Securities and Exchange Commission approved new restrictions on short sales that aim to improve investor confidence in the markets. Rule 201, also known as the alternative uptick rule, will impose restrictions on short sales once a stock triggers the "circuit breaker," a 10% drop in a single day. The uptick rule will apply to short sale orders in that security for the rest of the day, as well as the following day.
MIAMI -- Nearly two years after the collapse of Bear Stearns tipped off a global financial crisis, many people are still frustrated, confused, afraid, angry or resentful. Investors, regulators, legislators and Wall Street executives occasionally look for someone to lash out at, but no one is sure whom to blame or how to prevent such a disaster from happening again. There are a number of proposals being debated in Congress to increase transparency and help regulators assess risks, but even though Congress has been deadlocked for months and unable to do much of anything, executives are almost certain there will be action on target-date funds.
An industry group developing best practices for 403(b) retirement plans is coming closer to streamlining these plans to make them even more similar to 401(k) plans, but first they will have to get everyone to agree to speak the same language. Leaders say the SPARK Institute's work on 403(b) best practices is coming along smoothly, thanks to the cooperative efforts of approximately 50 participating institutions. The latest update, version 1.04, fixes many of these communication issues by requiring a standardized reporting format, which it hopes most institutions will adopt by this July.
Investors are about to test drive 401(k) plans with a 21st Century whole new look and feel. The Department of Labor is promising streamlined rules for 401(k) advice that plan sponsors may actually use (see "Week in Review," page 4). The government is looking into the possibility of offering annuities or other lifetime income options in defined contribution plans.
The Securities and Exchange Commission last Wednesday adopted several amendments to Rule 2a-7 governing money market funds that aim to reduce risks by increasing credit quality, improving liquidity, shortening maturity limits and requiring the disclosure of a funds shadow net asset value. The Commission fell short of requiring a floating NAV, but said it may still consider such a move in the future, as well as eliminating the disclosure delay on holdings and the use of credit ratings agencies.