Headlines about "Ret plans - design"

Gathered from the web by the editors at BenefitsLink.com.
[Guidance Overview] Personal Liability Claims Based Upon Unpaid Plan Contributions Advance
Excerpt: "In difficult economic times, a case like Calemine resonates more than it would otherwise. Here, the plaintiffs obtained a judgment, but the defendant employers declared bankruptcy. Unpaid plan contributions lay at the center of the dispute. This recent opinion illustrates that judgments against the bankrupt employer may not be worthless after all." (Health Plan Law blog by Attorney Roy F. Harmon III)

PSCA's Annual Survey of 401(k) and Profit-Sharing Plans Finds Increase in Automatic Enrollment
Excerpt: "The Profit Sharing/401k Council of America (PSCA) has released its 51st Annual Survey of Profit Sharing and 401(k) Plans, which provides up-to-date information on current practices and trends in profit-sharing and 401(k) plans. The survey reports on the 2007 plan year experience of 1,011 plans with 7.4 million participants and more than $730 billion in plan assets." (Wolters Kluwer)

[Guidance Overview] Improving Plan Diversification Through Reenrollment in a QDIA (PDF)
8 pages. Excerpt: "As a result of PPA, a new plan design strategy to improve portfolio diversification has emerged. Under this approach known as reenrollment, the holdings of current participants are transferred into the plan's qualified default investment alternative (QDIA), with the right to opt out available for participants who prefer to retain their existing asset allocations. Such a strategy has the dual benefit of improving diversification of plan assets and limiting fiduciary liability." (The Vanguard Group)

[Guidance Overview] Final ERISA Regulations on Annuity Selection for Defined Contribution Plans (PDF)
2 pages. Excerpt: "The final regulations take effect on December 8, 2008. DOL simultaneously finalized its amendment of Interpretive Bulletin 95-1 . . . limiting the applicability of the so-called 'safest available annuity' rule to defined benefit plans effective as of the same date. (Interim guidance published in September 2007 provided the same result effective November 13, 2007.)" (Sutherland)

CRS Report for Congress: Income and Poverty Among Older Americans in 2007 (PDF)
31 pages. Excerpt: "Just one-third of people age 65 and older, and fewer than one-half of elderly households, received income from a private or public pension in 2007. Among individuals age 65 or older who reported income from a government pension, median pension income was $16,629. Among recipients of private pensions, the median pension received in 2007 was just $7,200." (Congressional Research Service, U.S. Library of Congress)

Baltimore School Officials Give Thumbs Down on 403(b) Vendor Consolidation
Excerpt: "At a time when many 403(b) plans across the country are consolidating to a single service provider to ease compliance with new IRS rules, the Baltimore County school board voted not to follow that path in light of a protest from hundreds of employees and the district's five labor groups. A Baltimore Sun news report said board members unanimously opposed the recommended contract with 403(b) provider Lincoln Financial Group, which would have moved away from the multiple vendors currently available to employees." (PLANSPONSOR.com; free registration required)

[Guidance Overview] High Court to Hear Arguments on ERISA Beneficiary Designation
Excerpt: "The U.S. Supreme Court will hear arguments Oct. 7 regarding whether a qualified domestic relations order (QDRO) under the Employee Retirement Income Security Act trumps a woman's voluntary waiver of her ex-husband's pension benefits, an issue that has divided federal appeals courts and left divorce lawyers unsure how to advise clients." (Texas Lawyer)

[Guidance Overview] Has Your Roth Conversion Lost Value? Nullify It by Recharacterization!
Excerpt: "The tax bill from a Roth conversion can be voided by recharacterizing the conversion. However, the recharacterization must meet certain specific requirements to be considered valid. These are: The conversion must be completed by the individual's tax filing deadline, including any extension. Individuals who file their tax return or file for an extension by the due date receive an automatic six-month extension for completing the recharacterization. For individuals who file on a calendar year, this six-month extension ends October 15. This means that individuals who completed Roth conversions last year have until October 15 of this year to recharacterize that conversion. The recharacterization must be accompanied by any net income attributable (NIA) to the conversion. The end result is that the recharacterization amount is treated as if it was never converted for tax purposes, and therefore not included in the individual's income." (RetirementDictionary.com)

[Official Guidance] Text of Proposed IRS Regs: Notice to Participant of Consequences of Failure to Elect to Defer Receipt of Retirement Plan Benefit; Expansion of Periods for Other Notices and Elections (PDF)
18 pages. Excerpt: "These proposed regulations would provide that the notice required by section 411(a)(11) advising a participant of the right, if any, to defer receipt of a distribution must also inform the participant of the consequences of failing to defer such receipt. The proposed regulations would also provide guidance on the relevant information that must be provided to a participant in order to satisfy the requirement that the participant be notified of the consequences of failing to defer. . . . These regulations are proposed to become effective for notices provided (and election periods beginning) on or after the first day of the first plan year beginning on or after January 1, 2010. However, in no event will the regulations become effective for notices provided (and election periods beginning) earlier than the first day of the first plan year beginning 90 days after publication of final regulations in the Federal Register." (Internal Revenue Service)

Advisers Set to Benefit from the Transformation of 403(b) Plans
Excerpt: "Prior to the new regulations this employer segment did not really need an adviser, but as 403(b) plans are being made to look more like 401(k)s a new market is developing for retirement plan experts. Why are the regulations making the products more 401(k)-like? Simply put, 403(b)s haven't performed as well as their counterparts." (Employee Benefit Adviser; free registration required)

[Opinion] American Benefits Council Statement for Hearing on Impact of Financial Crisis on Workers' Retirement Security (PDF)
4 pages. Excerpt: "Regardless of the type of plan (or plans) an employer offers to its workforce, there is a dimension of employer plan sponsorship that deserves particular mention as it brings tremendous value to plan participants in financial circumstances like those we are experiencing. That is the simple fact of employer plan sponsorship and the fiduciary oversight that accompanies this employer role. Retirement plan participants have a fiduciary whose legal obligation it is to act solely in the interest of participants and beneficiaries and for the exclusive purpose of providing benefits." (American Benefits Council)

The Coverage of Employer-Provided Pensions
Excerpt: "The coverage of employer-provided pension plans has never been much above 50 percent, however, and there are remarkable disparities of coverage, with coverage rates for better paid, older, better educated, and white Americans much higher than those of other groups. Coverage rates are also low for part-time workers and employees of small firms." (AARP)

U.S. Supreme Court Denies Hearing Promised Benefits Suit by Former Quaker Oats Co. Employees
Excerpt: "The U.S. Supreme Court has denied a request to hear the case of two former Quaker Oats Co. employees fighting to receive additional pension benefits they say were promised by Quaker. In making its October 6 decision, the high court let stand a ruling by the 7th U.S. Circuit Court of Appeals that representations made to the employees were innocent mistakes and that anything told to them orally did not carry the same weight as what the court said were clear plan documents . . . ." (PLANSPONSOR.com; free registration required)

Committee Hearing: 'The Impact of the Financial Crisis on Workers' Retirement Security'
Excerpt: "This hearing will examine how the current financial crisis is impacting pension funds and workers' directed retirement accounts, such as 401(k) plans. According to a recent poll by the Associated Press, more than half of all Americans are worried that the ongoing financial crisis will force them to postpone retirement. [The hearing is scheduled to begin at 1 p.m. EDT today.]" (U.S. House of Representatives Education and Labor Committee)

Rescue Package Includes IRA Charity-Rollover Provision
Excerpt: "The massive financial rescue package signed into law last week, HR 1424, includes a provision to continue allowing tax-free gifts from IRAs to charities. The bill would permit such IRA distributions through the end of 2009 for certain individuals. The tax code provision allowing the contributions expired at the end of 2007." (Investment News; free registration required)

New York City's Municipal Labor Unions Warn of a Fight If Pensions Are Trimmed
Excerpt: "[I]f the city's budget situation deteriorates, as many experts predict, and if the mayor starts taking tougher actions -- like laying off workers or pushing for less generous pensions for future employees -- then, labor leaders warn, they will put up a fight." (The New York Times; free registration required)

Florida Retirement System Sends 'Comfort' Letter to Participants
Excerpt: "As of July 1, 2008, the plan has more assets than currently needed to pay future benefit retirements by about 106%, or $6.9 Billion. Under SBA's stewardship, FRS is one of only a handful of public pension systems to maintain full funding. During these financial times, Ms. South wants members to understand that under Florida law, accrued FRS pension plan benefits are guaranteed, regardless of investment performance. (The foregoing statement is true for virtually every municipal plan in Florida, including all fire and police plans that participate in Chapters 175 and 185.) And what is Ms. South's advice to those unfortunate souls who opted out of the FRS Pension Plan and chose the Investment Plan, which is a defined contribution arrangement? '[M]ake sure you are putting money away for your retirement by investing in a well-diversified portfolio. ... Members should consult their personal financial advisers for guidance.' In other words, you're on your own. Oh, well." (Cypen & Cypen)

Congressional Measure Reforms Alaska and Hawaii Federal Worker Retirement
Excerpt: "A bill approved by the U.S. Senate would reform the way retirement benefits for federal employees based in Hawaii, Alaska, and U.S. territories are determined. An Associated Press report said the measure would do away with non-foreign cost of living allowances and phase in locality pay over a three-year period. According to the report, because the cost of living payments are not taxable, they are not considered to be included in a worker's base pay for retirement purposes, while locality pay is taxed and is factored into the retirement benefit determination." (PLANSPONSOR.com; free registration required)

Is Your Defined Contribution Plan Leaking?
Excerpt: "It's in everyone's best interest for companies to keep employees from cashing out their 401(k) plans when they leave, defined-contribution specialist Lori Lucas says in this commentary." (Workforce Management; free registration required)

Health, Financial Incentives and Retirement in Spain
Excerpt: "Unlike previous literature, we find that (i) financial incentives, when measured adequately, exert a greater impact on retirement behaviour than health shocks, and (ii) initial health stock plays a more important role than health shocks in determining retirement decisions. We also perform simulations of a recently enacted reform of pension incentives and show how its expected effects compare to those of health improvements." (Tinbergen Institute via Social Science Research Network)

Appendix to 'Who Gets Retirement Plans and Why' (PDF)
12 pages. Excerpt: "The September 2008 issue of Perspective examines the various factors that lead some workers to favor compensation that includes both cash and retirement benefits more than cash alone, and the factors that lead some employers to choose to offer compensation that includes retirement benefits. This appendix provides supplementary tables with additional detail for the September 2008 Perspective." (Investment Company Institute)

Who Is Offered Retirement Plans at Work and Why (PDF)
36 pages. Excerpt: "As the retirement industry and policymakers try to increase coverage, it is important to understand the motives at play and why more employers do not currently sponsor plans. To that end, it is necessary to understand which workers currently have access to and participate in employer-sponsored retirement plans, and why certain employees desire and certain employers offer compensation in the form of retirement benefits. This paper examines the various factors that lead some workers to favor compensation that includes both cash compensation and retirement benefits over cash alone, and it discusses the factors that lead some employers to offer retirement benefits." (Investment Company Institute)

[Guidance Overview] Changes to Puerto Rico Plans Impact Annual Limits and Transfers from Dual-Qualified Plans (PDF)
3 pages. Excerpt: "Recently, the Puerto Rico legislature passed a new law increasing the pre-tax contribution limits for Puerto Rico qualified plans. This change affects both dual-qualified and solely qualified plans and increases the limit over the next five years. In addition, a recent revenue ruling issued by the Internal Revenue Service (IRS) changes the U.S. tax treatment for dual-qualified plans that spin off assets into solely qualified plans." (The Vanguard Group)

IRS Developing Pre-Approved Plan Program for 403(b)s
Excerpt: "The Internal Revenue Service (IRS) said it is developing plan approval programs for 403(b) plans similar to the current programs offered for 401(a) tax-qualified plans. The programs include a pre-approved plan program and a determination letter program for individually drafted plans. New IRS regulations effective January 1, 2009, require all 403(b) programs to have in place a formal, written plan document." (PLANSPONSOR.com; free registration required)

A Former WaMu Employee Asks, 'What Will Happen to My WaMu Pension Plan?'
Excerpt: "The government seized Washington Mutual's banking operations and sold parts of the company to JPMorgan Chase on September 25. But the jurisdiction of employee pension benefits was a point of contention during a tumultuous week that left current employees and retirees nervously awaiting an announcement that could affect their financial future." (U.S. News & World Report)

Significant Business Cases Slated for Decision in the Supreme Court Term (PDF)
See page 2 of 4 pages. Excerpt: "Employment Law: The Court has granted one Title VII case and two ERISA cases. . . . AT&T Corp. v. Hulteen, No. 07-543, presents the question of whether a company pension plan may lawfully deny service credit for pregnancy leaves taken prior to the passage of the 1978 Pregnancy Discrimination Act ('PDA') [and] Kennedy v. Plan Administrator for Dupont Savings and Investment Plan, No. 07-636, will determine what methods are valid under ERISA to waive a divorcing spouse's claims to pension benefits." (Paul, Hastings, Janofsky & Walker LLP)

[Guidance Overview] How Does HEART Affect 415 and PPA Amendments?
Excerpt: "Among other things, [the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART)] will change the way retirement plans deal with employees in the military. This technical update will address three issues: 1. When must plans be amended to conform to HEART? 2. How does HEART affect final 415 regulation amendments? 3. How does HEART affect PPA amendments?" (SunGard)

[Guidance Overview] October 15th Last Date for Re-Characterizing, or Undoing, Roth IRA Conversion from Previous Year
Excerpt: "The greater the decline in Roth IRA values since a 2007 conversion, the more a re-characterization by Oct. 15 makes sense. This is one of the great second chances in the tax code; it is like betting on a horse race after it is over." (Investment News; free registration required)

School Districts and New Federal Duties in Overseeing Workers' 403(b) Supplemental Retirement Accounts
Excerpt: "The changes represent dramatic new responsibilities in oversight and administration that had been 'virtually nonexistent' for district business officials, said John Kevin, the investment officer for the 139,000-student Montgomery County, Md., school system. The impact of the new IRS rules, which became final in July 2007, will be felt far beyond district business offices. Teachers and other employees may find their investment choices limited as their districts, for simplicity's sake, seek to scale down the number of investment companies allowed to offer their plans." (Education Week)

[Guidance Overview] Age-Weighted Plans Made Simple (PDF)
2 pages. (BDS Actuarial Services via THEWORKPLACE.BIZ)

Is Your 401(k) Any Good? See How Your Company's Plan Stacks Up in 11 Areas
Excerpt: "What are the features of the best 401(k) plans? What is best in breed? The questions were posed to some of the nation's leading pension and employee-benefit consultants. Here's what they emphasized . . . ." (MSM.Money)

The Evolution of Public Sector Pension Plans in the United States
Excerpt: "After reviewing [the history of public sector plans], we employ data from all 50 states to estimate a pension benefit equation for hypothetical workers and explain differences in the generosity of plans across states and types of workers covered. We show that population growth, plan funding, union representation, and participation in Social Security influenced the generosity of the plans." (Pension Research Council; registration required to download fulltext of paper)

Defined Contribution Pension Plans in the Public Sector: A Benchmark Analysis
Excerpt: "This chapter assesses best practice benchmarks for the design of defined contribution plans in the public sector, where such plans are the primary, or core, employment-based retirement benefit. These benchmarks rely on the notion that providing an adequate and secure retirement income for participants is the primary plan objective." (Pension Research Council; registration required to download fulltext of paper)

[Opinion] American Academy of Actuaries Letter on Proposed Regs Providing Guidance on Application of Accrual Rule for Defined Benefit Plans Under Section 411(b)(1)(B) (PDF)
4 pages. Excerpt: "On behalf of the American Academy of Actuaries1 Pension Committee, I respectfully request your consideration of its comments regarding the proposed regulations providing guidance on the application of the accrual rule for defined benefit plans under section 411(b)(1)(B) of the Internal Revenue Code in cases where plan benefits are determined on the basis of the greatest of two or more separate formulas." (American Academy of Actuaries)

New York State Comptroller Takes Aim at Pension Cheats with New Rules and a Compliance Unit
Excerpt: "The new rules require local governments statewide to pass resolutions establishing a minimum workday of no less than six hours. The regulations also call for appointed and elected officials and professionals contracted to perform certain services to keep a 90-day activity log and make public the maximum number of days reported to the system each month." (Newsday)

Governor Corzine Signs Garden State Pension Reform Bill
Excerpt: "Pension reform legislation signed into law by New Jersey Governor Jon S. Corzine that calls for a higher retirement age and new income eligibility requirements for enrollment should save the Garden State $150 million through 2022." (PLANSPONSOR.com; free registration required)

[Guidance Overview] How to Exclude 'Independent Contractors' from Benefit Plans
Excerpt: "To the troublesome question of employee classification, the drafter of the plans at issue in Bendsen had a simple solution. Just say what is intended in the plan document. The workers in this case argued that, despite characterization as 'independent contractors' in certain contractual agreements, they were actually common law employees. As such, they advanced several claims against the defendant, including claims for benefits." (Health Plan Law blog by Attorney Roy F. Harmon III)

[Official Guidance] Text of IRS Notice 2008-85: Updated Static Mortality Tables for Years 2009 Through 2013 (PDF)
19 pages. Excerpt: "These tables apply for purposes of calculating the funding target and other items for valuation dates occurring during calendar years 2009 through 2013. This notice also includes a modified 'unisex' version of the mortality tables for use in determining minimum present value under § 417(e)(3) of the Code and § 205(g)(3) of ERISA for distributions with annuity starting dates that occur during stability periods beginning in calendar years 2009 through 2013." (Internal Revenue Service)

Fact Sheet: Your Employer's Bankruptcy - How It Affects Your Employee Benefits (PDF)
Excerpt: "This information sheet focuses on bankruptcy's effect on pension plans and group health plans." (U.S. Employee Benefits Security Administration)

New Jersey Pension Bill Signed Into Law
Excerpt: "Legislation aimed at reducing the state's pension and health-care costs in an effort to save both taxpayer money and the benefits system on which public workers rely was signed into law Monday. The bipartisan Public Employee Pension and Benefits Reform Act of 2008 . . . is projected to save the state $150 million in benefits expenses over the next 14 years." (Asbury Park Press)

Teamsters Win 401(k) in Waste Management Strike Deal
Excerpt: "The key part of a deal solving a labor dispute between the Teamsters and Waste Management is the agreement to move the employees to a new 401(k) program. A news report from the Milwaukee Journal Sentinel said the employees are being taken out of the financially troubled Central States Pension Fund. The company will put in $1,000 to each employee's account as well as a matching contribution." (PLANSPONSOR.com; free registration required)

[Guidance Overview] IRS Update and Expansion of Its Employee Plans Compliance Resolution System
Excerpt: "This Update provides only a general summary of the Employee Plans Compliance Resolution System. You can read the full text of Revenue Procedure 2008-50 at http://www.irs.gov/pub/irs-drop/rp-08-50.pdf." (Perkins Coie LLP)

The New Intersection on the Road to Retirement: Public Pensions, Economics, Perceptions, Politics, and Interest Groups
Excerpt: "State and local pensions have been a cost-effective way to ensure that those retiring from public service will have adequate retirement income after a lifetime of work. Despite their strengths, opposition to public pensions has emerged in recent years. This chapter examines the economics of public pensions and outlines the role of public perceptions, politics, and interest groups in the public pension debate. " (Pension Research Council; registration required to download fulltext of paper)

Redefining Traditional Plans: Variations and Developments in Public Employee Retirement Plan Design
Excerpt: "Retiree benefits for U.S. employees of state and local governments have been traditionally been paid via defined benefit (DB) plans, but this arrangement has been neither monolithic nor static. This article provides examples of variants on the traditional DB model and presents recent developments in retirement benefits for public employees, focusing on the incorporation of DC plan elements into or alongside DB plan structures." (Pension Research Council; registration required to download fulltext of paper)

[Opinion] Will the 401(k) Allow for Retirement?
Excerpt: "The trend away from defined-benefit plans toward defined-contribution plans makes it harder for workers to have adequate retirement income. And even with default enrollment and other provisions in the pension-reform act, it's likely that many workers will not be able to stop working." (Dallas Salisbury via Human Resource Executive Online)

[Guidance Overview] DC Plans, Distributed Annuities, Spousal Consent and QJSAs
Excerpt: "One of the most nagging issues related to distributing annuities from defined contribution plans is how and when to apply the spousal consent and qualified joint and survivor annuity ('QJSA') rules to distributions." (Baker & Daniels)

Automatic Enrollment in 401(k) Doesn't Take Care of Everything
Excerpt: "Don't confuse your employer's default contribution rate with a magic number guaranteed to provide you with enough money to live on in retirement. In fact, [experts] worry that for all the good automatic enrollment does, it also may create a false sense of security and discourage workers from putting more away. Financial planners often encourage people in their 20s to save at least 10 percent of gross income for retirement, including employer match money, and 15 percent or more if they got a later start." (Chicago Tribune)

Rewarding a Multigenerational Workforce: A Survey of WorldatWork Members, September 2008
14 pages. Excerpt: "For the first time, WorldatWork conducted a survey to gather information about how employers are approaching the challenge of rewarding a multigenerational workforce. The goal was to increase understanding about the relationship between reward practices and generational issues, as well as identify best practices for rewarding multigenerational workforces." (WorldatWork)

[Opinion] 403(b) Rollovers vs. 403(b) Exchanges
Excerpt: "[W]hat are the chances the IRS would treat a rollover to a non-employer related 403(b) as a contract exchange rather than a rollover, and require an information sharing agreement? There is a tempting easy answer: a rollover is a rollover, and no information sharing agreement is required. But then you start thinking about it some more, and find that there are a number of 'hidden' issues. Let's work through what would happen here." (Baker & Daniels)

New AHA/Diversified Survey Reveals Overhaul of 403(b) Regs Impacting Retirement Plans for Healthcare Sector More than PPA
Excerpt: "The survey, Retirement Plan Trends in Today's Healthcare Market -- 2008, was conducted by the American Hospital Association (AHA) and Diversified Investment Advisors, Inc. (Diversified). According to the survey, currently in its sixth year, more than double the number of plan sponsors replaced an investment manager or record keeper -- 19% and 20% respectively -- based on the 403(b) regulations as compared with just 8% who did so because of PPA." (MarketWatch)

PSCA Survey Shows Auto Enroll/Higher Participation Link
Excerpt: "The Profit Sharing/401k Council of America's (PSCA) 51st Annual Survey of Profit Sharing and 401(k) Plans provides evidence of the link between automatic enrollment and higher plan participation rates. . . . [T]he survey found 81.9% of eligible employees have balances in their 401(k) plans. Pre-tax participant deferrals average 5.6% of pay for non-highly compensated workers (the first increase since 2004) and 7% percent of pay for highly compensated workers." (PLANSPONSOR.com; free registration required)

[Opinion] Gihilarducci on Defined Benefit Pensions Are Dead; Long Live DB Pensions
Excerpt: "Teresa Ghilarducci, Bernard L. and Irene Schwartz Chair of Economic Policy Analysis The New School for Social Research, and author of 'When I'm Sixty-Four: The Plot Against Pensions and the Plan to Save Them,' has penned this response to the recent blog post we did on Zelinsky and the 401(k) Lessons from the Crash of 2008." (Workplace Prof Blog)

Capitol Hill Meeting Regarding Proposed IRS Oversight of Public Plans
Excerpt: "On Friday, September 19, NCPERS and other public plan stakeholders joined Congressman Earl Pomeroy, Chairman Charles Rangel (by teleconference), and Democratic and Republican staff of the Ways & Means Committee, as well as representatives from the IRS and Treasury, to discuss issues related to IRS proposed oversight of public pension plans. . . . At the meeting, Congressman Earl Pomeroy asked representatives of IRS and Treasury whether they could be counted on to work in a cooperative and collaborative fashion, but those representatives refused to commit to do so.The public plan community, for its part, proposed a plan with a two-week timeframe help the IRS develop its survey of public plans." (National Conference on Public Employee Retirement Systems)

[Opinion] The IRS and Normal Retirement Age for Public Employees
Excerpt: "The new rules on Normal Retirement Age, currently scheduled to apply to plan years beginning on or after January 1, 2009, would require that governmental pension plans specifically define normal retirement age, or redefine normal retirement age, so that it is not based wholly or partly on years of service. Because of this new imposition on public plans, and other issues with the regulations, one of the top priorities for NCPERS is to delay the implementation of, and then seek major modifications to the Normal Retirement Age regulations." (National Conference on Public Employee Retirement Systems)

[Opinion] Paternalism In Retirement Savings
Excerpt: "Professor Ed Zelinsky comments in [a] recent article on provisions in the Pension Protection Act of 2006 (PPA), directing the Secretary of Labor to promulgate regulations specifying the 'default investments' to which 401(k) funds will be directed if participants fail to make their own investment choices. He takes issue with regulations promulgated under that authority, observing that they are, in effect, a paternalistic endorsement of a predominantly equity-based approach to investing." (Health Plan Law blog by Attorney Roy F. Harmon III)

[Guidance Overview] Relaxed Restrictions on Off-Cycle Applications for New Pre-Approved Plans
Excerpt: "The modifications apply to sponsors of pre-approved plans that adopt the language word-for-word of a mass submitter plan that has received a favorable EGTRRA opinion or advisory letter. A sponsor may also adopt the identical language of a mass submitter plan for which an application for such opinion or advisory letter is pending. The new application must also be filed according to the procedures governing mass submitter plans under Rev. Proc. 2005-16 . . . ." (Wolters Kluwer)

Legislators Ask for Funding Calculation Relief for Small Pensions
Excerpt: "In a letter to Treasury Secretary Henry Paulson, members of the House Ways and Means Committee and Senate Finance Committee asked that certain provisions of unpassed Pension Protection Act technical corrections legislation be enacted immediately." (PLANSPONSOR.com; free registration required)

[Opinion] NCPERS Responds to Editorial Attack on Public Employee Defined Benefit Plans
Excerpt: "The Las Vegas Review-Journal [on September 23, 2008] wrote an editorial calling for the elimination of defined benefits for future public employees and increasing the age at which public employees may retire. To view NCPERS' response, [see http://ncpers.org/News/PageText/documents/LVRJ_Response092308.pdf]." (National Conference on Public Employee Retirement Systems)

[Opinion] Letter from Congressmen to Treasury on End-of-Year Valuation Pension Plans (PDF)
3 pages. Excerpt: "In a September 23, 2008 letter, Chairmen Rangel and Baucus, and Ranking Members McCrery and Grassley asked Treasury to permit end-of-year valuation pension plans to determine final 2008 AFTAPs based on December 31, 2007 valuation results." (American Society of Pension Professionals & Actuaries)

[Guidance Overview] Interoffice Memo on IRS Final Regulation on Definition of Normal Retirement Age (PDF)
6 pages. Excerpt: "This is a briefing paper describing the IRS's final regulation to amend the definition of normal retirement age, which significantly affects Nevada's Public Employees' Retirement System (PERS). I've written this to be basic and easy to digest; it does not contain all of the nuances such a regulation evokes." (City of Henderson, Nevada, via Web Commanders)

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