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A weekly roundup of pay and benefits news.
Officials at the federal government’s 401(k)-style retirement savings program said this week that nearly $3 billion exited the Thrift Savings Plan this year as a result of the COVID-19 pandemic.
The CARES Act authorized TSP participants to take loans from their accounts of up to double the normal amount, and it waived requirements that participants be 59 1/2 years old, cite a specific financial hardship or take a 10% tax penalty.
At the January meeting of the Federal Retirement Thrift Investment Board, which administers the TSP, Participant Services Director Tee Ramos outlined how federal employees and retirees made use of these flexibilities.
NYSE will delist three big China telecoms, reversing decision once again CNBC 1/6/2021 Jesse Pound
The New York Stock Exchange said its second reversal in two days came after new guidance from the Treasury Department.
The NYSE said last week it will remove U.S.-traded shares of China Telecom, China Mobile and China Unicom from the Big Board, but reversed course Monday.
NYSE will delist three big China telecom companies, reversing decision again
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The New York Stock Exchange will delist three Chinese telecommunication giants after all, saying its second reversal in two days came after new guidance from the Treasury Department.
Photo credit: Andy Feng / Shutterstock.com
In his final days in office, President Donald Trump is ramping up aggressive policies against Chinese payment apps and other software that has the potential to capture data on Americans.
A Jan. 5 executive order names Alipay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay and WPS Office. Alipay, in particular, has a large user base because it is the payment platform attached to the popular Alibaba e-commerce network, similar to PayPal s origin as the eBay payment system. The United States has assessed that a number of Chinese connected software applications automatically capture vast swaths of information from millions of users in the United States, including sensitive personally identifiable information and private information, which would allow the PRC and CCP access to Americans’ personal and proprietary information, the orders states.
Fate uncertain for 3 Thrift Board nominees
Bloomberg
The fate of three nominees to the Federal Retirement Thrift Investment Board, Washington, is uncertain as the 116th Congress nears its end.
The nominations of Christopher Bancroft Burnham, John M. Barger and Frank Dunlevy were approved by the Senate Homeland Security and Governmental Affairs Committee in September, but the full Senate has yet to consider them. Mr. Dunlevy would also be board chairman if confirmed.
President Donald Trump in May nominated each of them to the five-member board, which administers the $690.6 billion Thrift Savings Plan, the retirement system for 5.9 million federal employees and members of the uniformed services.
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Accenture s First Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to your host, Managing Director, Head of Investor Relations, Ms. Angie Park. Please go ahead.
Angie Park
Managing Director & Head Investor Relations
Thank you, operator, and thanks everyone for joining us today on our first quarter of fiscal 2021 earnings announcement. As the operator just mentioned, I m Angie Park, Managing Director, Head of Investor Relations. On today s call, you will hear from Julie Sweet, our Chief Executive Officer; and KC McClure, our Chief Financial Officer. We hope you ve had an opportunity to review the news release we issued a short time ago.