An online, clickable version of this newsletter is available at: http://benefitslink.com/2008/2008_05_07_retirement.html =========================================================== BenefitsLink Retirement Plans Newsletter (Plain Text Format) May 7, 2008 Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. =========================================================== TODAY'S SPONSOR: SunGard SunGard’s Relius Government Forms 5500 Web Client (Advert.) http://benefitslink.com/modperl/a_d_top.cgi?a_d=2008_05_07_retirement (Click on the above address or copy and paste it into your web browser.) Did you know the DOL is requiring electronic filing for 5500s? Now is the time to encourage your clients to use the Internet to gather and verify data. SunGard's Relius Government Forms 5500 Web Client can help. Learn more. 800-326-7235, ext. 1100. ---------------------------------------------------------- [Guidance Overview] 401(k) Fee Litigation http://www.groom.com/401k_fee_litigation.html Excerpt: "Over the past several years, more than two dozen lawsuits have been filed relating to 401(k) plan fees and, more specifically, 'revenue sharing' arrangements with plan service providers. . . . In addition to the lawsuits against plan sponsors, lawsuits have been brought against 401(k) plan service providers. These cases typically are based on allegations that the service providers are 'functional fiduciaries' under ERISA. [At the target page, links are provided to an outline and a chart on the issues.]" (Groom Law Group) ---------------------------------------------------------- New York State Pension Abuse Issue Draws Legislation http://www.nypolitics.com/2008/05/07/state-pension-abuse-issue-draws-legislation/ Excerpt: "As Attorney General Andrew Cuomo and Comptroller Thomas DiNapoli continue their crackdowns on alleged abuses of the state pension system, lawmakers are starting to take action with proposed legislation. The bills come in the wake of recent media reports of school lawyers and other educational administrators accruing benefits from the state pension system they may not have been entitled to." (nypolitics.com) ---------------------------------------------------------- Plan Sponsors Focus on Investment Monitoring and Decision Making http://ebn.benefitnews.com/asset/article/581451/staying-current/plan-sponsors-focus-investment-monitoring-and.html?pg=&topicName=retirement Excerpt: "The Pension Protection Act has changed patterns in savings and reporting, reports Grant Thornton LLP in its 2008 Plan Sponsor Retirement study. Plan sponsors are placing a greater emphasis on using investment policy statements. More than 80% of organizations have one in place, and 40% are reviewing their IPS consistently, indicates the Chicago-based consulting firm." (Employee Benefit News; free registration required) ---------------------------------------------------------- Understanding Changes During Retirement: Results of Two Studies Webcast, April 2008 (PDF) http://www.soa.org/files/pdf/2008-webcast-butrica-helman.pdf 55 pages. (Society of Actuaries) ---------------------------------------------------------- One-Fourth of Participants Have Taken Premature Plan Distributions, Poll Finds http://hr.cch.com/news/pension/050708a.asp Excerpt: "According to the survey, the most common reasons for premature withdrawals include a family member losing a job and the cost of a down payment on a home." (Wolters Kluwer) ---------------------------------------------------------- PBGC's Pension Benefits Take-Back 'Nightmare' for Steel Plant Retirees http://www.zwire.com/site/news.cfm?newsid=19666672&BRD=1699&PAG=461&dept_id=46371&rfi=6 Excerpt: "[More than 1,000 steel plant retirees] have learned that their pension benefits were overpaid for years by the Pension Benefit Guaranty Corp. The overpayment will be collected by a 10 percent reduction in their benefit rate, further decreasing their monthly check." (The Morning Journal) ---------------------------------------------------------- Your 401(k) Could Put You on Track to Millions http://www.successmagazine.com/On-Track-to-Millions/PARAMS/article/192/channel/22 Excerpt: "Becoming a millionaire may sound impossible. Millionaire may strike you as a term that's meant for other people, not you. But that's just not true." (Success Magazine) =========================================================== Sponsored by: ASPPA ASPPA Spring Exam Window - Registration ends May 14, 2008 (Advert.) http://benefitslink.com/modperl/a_d_center.cgi?a_d=2008_05_07_retirement (Click on the address above or copy and paste it into your web browser.) Looking for a way to enhance your professional image and gain the knowledge you need to succeed in the retirement industry? ASPPA credentials provide that and more for the retirement professionals who have obtained the most sought after credentials in our industry. Comprehensive and practical, the ASPPA credentialing program has a path for you. The deadline for the spring exam window, May 14, is rapidly approaching. Don't wait another day to start your journey towards a professional ASPPA credential. Register Now. ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- [Guidance Overview] DOL's Proposed Form T–1 Would Require Detailed Financial Reporting for Most Union-Negotiated Benefit Plans (PDF) http://truckerhuss.com/articles/data/newsletter_back_issues/2008/20080401_newsletter_volume_17_no_4.pdf Pages 3-7 of 10 pages. Excerpt: "The Form T–1 annual report would be in addition to, not in lieu of, a Form 5500. However, unlike the Form 5500, which must be prepared and filed by the employee benefit plan itself, Form T–1 must be prepared and filed by each labor union whose members are plan participants provided that union has annual revenues of $250,000 or more." (Trucker Huss) ---------------------------------------------------------- [Guidance Overview] Benefits Quiz from the April 2008 Trucker Huss Benefits Report (PDF) http://truckerhuss.com/articles/data/newsletter_back_issues/2008/20080401_newsletter_volume_17_no_4.pdf Pages 1-2 of 10 pages. Excerpt: "The . . . questions are designed to refresh, and to fine tune, your benefits expertise. Some of the answers (which are found on page 8 of this Newsletter) may surprise you." (Trucker Huss) ---------------------------------------------------------- Communicating the Value of Benefits Helps Offset Anxiety of Tough Economic Times http://ebn.benefitnews.com/asset/article/577661/communicating-with-employees/communicating-value-benefits-helps-offset-anxiety.html?pg=&topicName=strategies Excerpt: "Though the investment in benefits that each organization makes is obvious to executives, studies show that employees generally don't recognize how much their benefits are actually worth. . . . [S]howing employees that their compensation is as much as 25% more than what they thought it was can help . . . ." (Employee Benefit News; free registration required) ---------------------------------------------------------- Milliman's Monthly Benefit News and Developments, May 2008 (PDF) http://www.milliman.com/expertise/employee-benefits/publications/mbnd/pdfs/MBND05-05-08.pdf 2 pages. The newsletter provides a summary of the previous month's legislative, regulatory, and judicial information on employee benefits. (Milliman) ---------------------------------------------------------- DOL Web Site Helps Employers Navigate Federal Law Dictates http://www.plansponsor.com/pi_type10/?RECORD_ID=41396 Excerpt: "A new Web site from the U.S. Department of Labor (DOL) contains an elaws advisor designed to help employers figure out which of the agency's record keeping, reporting, and notice requirements apply to them." (PLANSPONSOR.com; free registration required) ========================================================== Newly Posted Events Employee Benefits Conference: Strategic Directions in Minnesota on June 26, 2008 presented by Employers Association, Inc. http://benefitslink.com/events/detail.php?id=43754 The Deloitte Tax LLP Inaugural Compensation & Benefits Symposium - Compensation and Benefits Strategies in Illinois on October 21, 2008 presented by Deloitte http://benefitslink.com/events/detail.php?id=43755 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases Employees Without Access to Health Coverage Outside Work Are Far Less Likely to Retire Watson Wyatt http://benefitslink.com/pr/detail.php?id=41902 ExpertPlan Partners with MPAY, Inc. to Provide Bundled Payroll/401(k) Product ExpertPlan http://benefitslink.com/pr/detail.php?id=41905 Report Finds Women Can Anticipate Nearly Half the Retirement Income of Men Americans for Secure Retirement (ASR) http://benefitslink.com/pr/detail.php?id=41904 MBGH Annual Employer Benefit Survey Reveals Growing Shift to Value-Based Benefit Design Midwest Business Group on Health http://benefitslink.com/pr/detail.php?id=41900 Blue Cross and Blue Shield of North Carolina Achieves Bridges to Excellence Certification Bridges to Excellence (BTE) http://benefitslink.com/pr/detail.php?id=41901 The SPARK Institute Releases Final 403(b) Plans Best Practices Documents The SPARK Institute http://benefitslink.com/pr/detail.php?id=41903 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Account Manager for National Retirement Services, Inc. in CA http://benefitslink.com/modperl/job.cgi?n=H54691 Sr. Counsel, Benefits & Compensation for Wyeth in NJ http://benefitslink.com/modperl/job.cgi?n=H55102 Defined Contribution Administrator for Merit Benefits Group, Inc. in IL http://benefitslink.com/modperl/job.cgi?n=H55103 Defined Benefit Client Consultant for Prudential Financial in CT http://benefitslink.com/modperl/job.cgi?n=H55104 Actuarial Consultant / Senior DB Plan Administrator for Tegra Financial Partners in GA http://benefitslink.com/modperl/job.cgi?n=H55105 Consultant for Pension Benefits Unlimited, Inc. in CA http://benefitslink.com/modperl/job.cgi?n=H53136 Actuarial Consultant-US Insurance Group for MassMutual Financial Group in CT http://benefitslink.com/modperl/job.cgi?n=H55107 Defined Contribution Plan Consultant for Long Island, New York in NY http://benefitslink.com/modperl/job.cgi?n=H55109 Post yours! http://EmployeeBenefitsJobs.com/jobs/post_help_wanted.html View all jobs http://EmployeeBenefitsJobs.com/ RSS feed http://EmployeeBenefitsJobs.com/rss/jobs.rss =========================================================== Search previous newsletters: http://benefitslink.com/search =========================================================== Subscribe to the BenefitsLink Health & Welfare Plans Newsletter, Too Sign-up form is at: http://benefitslink.com/newsletter/ =========================================================== This newsletter is sent to you each workday except federal holidays. 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