While there are plan sponsors who chose to not take the time to review and instead default into a government money market fund
, that non-action is a fiduciary decision," he said.
Among institutional funds, taxable government money market fund
assets decreased by $13.
Russell said Merrill Lynch contacted the Foundation after the Florida Supreme Court amended the IOTA rule to permit government money market funds
Permits use of government money market funds
for IOTA; and
The Board of Trustees also stated its intention to not currently implement liquidity fees or redemption gates for the US Government Money Market Fund
Wells Fargo (WFC) Advantage Funds has announced that its board of trustees has approved changes to its money market funds lineup to conform with regulatory changes from the SEC in July of 2014 pertaining to retail prime and municipal money market funds; institutional prime and municipal money market funds; and government money market funds
Money Market Fund, currently a prime money market fund, will change its name and investment strategy to qualify and operate as a government money market fund
effective on or about April 29, 2016.