The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
WASHINGTON, Jan. 29 -- The Securities & Exchange Commission issued the following news release:
The Securities and Exchange Commission today announced that it has named Carl W. Hoecker as its Inspector General.
Mr. Hoecker currently serves as Inspector General for the U.S. Capitol Police and will replace David Kotz, who left the SEC last year. Jon T. Rymer, the Inspector General for the Federal Deposit Insurance Corporation, has served as the SEC's interim Inspector General since May 2012.
The SEC's Inspector General issues reports and conducts independent and objective audits, investigations, and inspections to detect waste, fraud, and abuse and to promote economy, effectiveness, and efficiency.
"Carl has demonstrated ability in conducting complex investigations," said SEC Chairman Elisse Walter. "He has more than 30 years of federal law enforcement experience and is well qualified to serve as the SEC's Inspector General."
"I am deeply honored to have been selected for this position," said Mr. Hoecker. "The SEC has an extremely important mission and I look forward to working with the Commissioners, the SEC staff, and the SEC stakeholders as I carry out my responsibilities under the Inspectors General Act."
Mr. Hoecker has served since 2006 as the first Inspector General of the U.S. Capitol Police. He spent 10 years at the U.S. Department of the Treasury, starting as a special agent in 1996 and serving as Deputy Assistant Inspector General from October 2003 to July 2006. Mr. Hoecker joined the Inspector General community in 1992 as a criminal investigator at the U.S. Information Agency, now part of the Department of State. He began his career with the U.S. Army in 1976 as a military policeman, later becoming a special agent for the Army Criminal Investigations Command.
In addition to being a Certified Public Accountant, Mr. Hoecker is a Certified Fraud Examiner and Certified Government Financial Manager, and he is certified in Financial Forensics. He also chairs the Investigations Committee of the Council of Inspectors General on Integrity and Efficiency. He received his B.A. in Business Administration from Governors State University and completed his M.A. in Systems Management from the University of Southern California while on active military duty.
Under the Inspector General Act of 1978, Inspectors General have a dual and independent reporting relationship to the Commission and to Congress. Appointments are based on integrity and ability in such areas as accounting, auditing, financial analysis, public administration and law, without regard to political affiliation.
TNS MGD130130-JF78-4183588 StaffFurigay