DATAIR Employee Benefit Systems, Inc.

Plan Consultant
Transamerica Retirement Solutions
in MA

Benefits Service Center Supervisor
Milliman
in TX

Employee Benefits Attorney
Wiggin and Dana LLP
in CT, NY

Benefits Account Manager & Department Manager
Owen-Dunn Insurance Services
in CA

Retirement Planning Consultant
Transamerica Retirement Solutions
in PA

401(k) Administrator
Swerdlin & Company
in GA

401K Plan Administrator
Atlantic Pension Services Inc.
in PA

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Avoid the ACA New Shared Responsibility Payment to the IRS
September 2, 2015 WEBCAST
(First Advantage)

Participant Restrictions Under IRC §436 AFTAP Rules
September 10, 2015 WEBCAST
(ASPPA [American Society of Pension Professionals & Actuaries])

Hot Topics in Employee Benefits: Developments in Employee Benefits and Executive Compensation
September 16, 2015 WEBCAST
(Morgan Lewis & Bockius LLP)

Supreme Court’s Decision in Tibble v. Edison International: What Are the Must Know Lessons for Plan Fiduciaries?
September 17, 2015 in CA
(Western Pension & Benefits Council - Orange County Chapter)

Safe Harbor 401(k) Workshop - Cleveland
October 1, 2015 in OH
(SunGard Relius)

Advanced Cross-Tested Plans: Adding More Tools - Cleveland
October 2, 2015 in OH
(SunGard Relius)

American Conference Institute’s Employee Benefit Plans Conference
November 17, 2015 in NY
(American Conference Institute)

2015 Regional Conference
November 17, 2015 in MO
(State and Local Government Benefits Association [SALGBA])

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[Official Guidance]

Text of IRS Proposed Regs: Reportable Transactions Penalties under Section 6707A
"This document contains proposed regulations that provide guidance regarding the amount of the penalty under section 6707A ... for failure to include on any return or statement any information required to be disclosed under section 6011 with respect to a reportable transaction. The proposed regulations are necessary to clarify the amount of the penalty under section 6707A, as amended by the Small Business Jobs Act of 2010. The proposed regulations would affect any taxpayer who fails to properly disclose participation in a reportable transaction." (Internal Revenue Service [IRS])  

[Advert.]

Feeling Left Out? It's Time to Get "Ahead of the Curve"

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[Guidance Overview]

Draft Form 5500-EZ Shows IRS Seeks More Compliance Information
"Changes from the 2014 Form 5500-EZ proposed in the 2015 draft include the following. [1] New Line 4c asks for the name and phone number of the plan's trustee or custodian. [2] Line 6 asks for information on total participants, active participants, and participants separating from service who are not fully vested. [3] New Lines 13-16 request information on plan amendments, IRS opinion or advisory letters, required minimum distributions paid to five-percent owners, unrelated business taxable income (UBTI), and in-service distributions granted during the plan year." (Ascensus)  

How Much Can Qualifying Longevity Annuity Contracts Improve Retirement Security? (PDF)
"[This] article provides analysis of the ability of QLACs to provide an effective longevity hedge for Boomers and Gen Xers who are simulated to participate in an in-plan offering either through a 10-year series of laddered purchases or as a one-time purchase based on the accumulated value of employer contributions from the current employer.... [E]ven at today's historically low interest rates, the purchase of these products may provide a significant increase in retirement readiness for the longest-lived quartile, compared with only a small reduction for the general population. Sensitivity analysis on the QLAC premiums resulting from likely increases in future interest rates provides even more favorable results." (Employee Benefit Research Institute [EBRI])  

Examining Cash-Balance Plans' Investment Risk (PDF)
"Contrary to the common perception, cash-balance plans do not represent a low-risk arbitrage opportunity, but rather are a leveraged investment in risk assets, similar to a traditional DB plan. While cash-balance plans can provide greater design transparency, portability and more even benefit-accrual patterns, plan sponsors still face investment risk and return tradeoffs that need to be professionally managed." (Segal Rogerscasey)  

Impacts of Recent Market Volatility on DB Plan Funding (PDF)
"[The authors] recommend sponsors proactively review year-end projections of their plans' funded status and impacts on their balance sheet, 2016 accounting expense, contribution requirement and PBGC premiums.... [It's] also possible other important items could be triggered, such as benefit restrictions on accelerated forms of payment. Plan sponsors likely will want to review these outcomes under a variety of possible year-end asset return and discount rate scenarios to have a better understanding of what to budget for and how volatile results can be under the current market conditions." (Buck Consultants at Xerox)  

[Advert.]

Save $100 on Top-Rated Benefits Conference Through 9/4

SAN ANTONIO, Sep. 27-30. Benefits experts lead 40+ workshops covering issues such as ERISA compliance, fiduciary responsibility, retirement income options and more. 99% of past attendees agree it's time & money well spent! Use code BENL for discount.

The IRS Is Back with Some Brand New Corrections
"Some may wonder why a company wouldn't take advantage of the new correction options.... [S]ome companies may be reluctant to provide to employees a written statement of an error involving payroll and retirement accounts, especially in a case of already strained employee relations.... If a company catches the failure and starts withholding the correct deferrals but doesn't provide the notice within 45 days, they are no longer eligible for the reduced qualified nonelective contribution and must revert to the 50% level." (Markley Actuarial)  

Five Ways to Improve Employee Savings and Participation Rates
"[1] Auto-enroll all employees into the plan on an annual basis.... [2] Increase the default deferral percentage.... [3] Incorporate opt-out auto escalation.... [4] Incentivize increased savings by adopting stretch matching contributions.... [5] Make employee financial wellness and engagement a year round campaign rather than an annual benefits enrollment consideration." (Manning & Napier)  

Roth Conversion in Market Downturn: Heads You Win, Tails The Government Loses!
"When you execute a Roth IRA conversion, you pay tax on the fair market value of the assets that you convert. A few weeks ago, your IRA may have been worth $100,000, so converting it completely would have added another $100,000 to your income tax bill. Now, however, that account may be worth only $80,000. As a result, converting now as opposed to two weeks ago could save you about 20% on your tax bill." (Slott Report)  

Boeing 401(k) Fiduciary Breach Lawsuit Settled
"Attorneys for The Boeing Co., Chicago, and participants in a Boeing 401(k) plan reached a provisional settlement in a case in which the participants had alleged breaches of fiduciary duty by plan administrators... The notice filed Wednesday by U.S. District Judge Nancy J. Rosenstengel didn't describe the terms of the provisional settlement." (Pensions & Investments)  

What Role Can Annuities Play in Easing Risks in Public Pension Plans? (PDF)
36 pages. "This paper ... finds that: [1] Public DB pensions are highly cost efficient.... [2] Public DB pension plans provide significant consumer protections in state law, while annuities have different consumer protections in state regulation and insurance law.... [3] Longevity annuities focus on the insurance value and are less expensive than fixed income annuities." (National Institute on Retirement Security [NIRS])  

At Chicago Pension Fund, Questions Raised on Conflicts of Interest
"Chicago pension officials wanted to know where to deposit the $11 billion that the city's teachers had saved for their retirement benefits, so they turned in 2014 to the outside consulting firm they'd hired for financial advice.... [W]hen the firm, Callan Associates, told pension trustees at a February meeting to give the cash to a bank called Bank of New York Mellon (BNY), the board's trustees agreed to follow the advice. What they were not told at that meeting, however, is that BNY pays Callan for both general consulting services and financial education programs." (International Business Times)  

[Guidance Overview]

SEC Adopts Final Pay Ratio Rules (PDF)
"The rules only cover employees who are employed as of a date within the last three months of the registrant's fiscal year.... The rules exclude workers who provide services to the registrant or its consolidated subsidiaries as independent contractors or leased workers if the workers are employed by an unaffiliated third party and their pay is determined by that unaffiliated party.... The rules allow registrants to exclude individuals who became employees of the registrant as a result of a merger or acquisition that occurred during the fiscal year." (Alston & Bird LLP)  

[Guidance Overview]

SEC Approves Final Rules for Pay Ratio Disclosure
"Companies should consider drafting 'pay ratio' as early as in connection with the 2016 proxy season disclosure, not necessarily to include the disclosure in their 2016 proxy materials, but to begin to understand the context of the disclosure and to strategically consider whether supplemental ratios or other information will assist with interpreting the pay ratio disclosure in a meaningful way given the company's business circumstances." (Holland & Knight)  

Market Performance and Pension Contributions Drive Rise in CEO Pay
"[T]he median total compensation of CEOs of U.S. public companies in the Russell 3000 index soared 11.9 percent in 2014 over the previous year and as much as 34.7 percent over 2010. Equity awards (excluding stock options) represent 34.7 percent of the total value of the CEO pay package, and the median grant-date value of stock awards grew about 25 percent in 2014.... Only a small part of CEO earnings comes from base salary; performance-based components now dominate.... Most CEOs on the top 25 list are not from large companies ... More and more companies have been introducing cash flow as a performance metric in their short-term incentive (STI) design[.]" (The Conference Board)  

Suit Seeks Recovery of More Than $1.6M in Losses to Employee Profit-sharing Plan after Illinois Health Care Provider Allegedly Made Improper Distributions
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

EdisonHealth adds Connecticut Joint Replacement Institute to its Elite Network of Medical Destinations of Excellence
EdisonHealth Network LLC

Newtek Launches Health Insurance Options for Individuals and Small Business Owners
Newtek Business Services Corp.

BenefitMall Launches New Retail Employer Website
BenefitMall

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