Retirement Plans
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September 21, 2006
Today's sponsor: ASPPA • Working for America's Retirement™

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Join us on October 22-25 at the Washington Hilton & Towers! Attend special sessions specifically related to the Pension Protection Act ’06. Hear the "Washington Update" from Brian Graff and the popular “Keeping Current” session given by Sal Tripodi. Visit over 80 vendors with new ideas and products in the Spacious exhibit hall. Register NOW @

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

Overview: Pension Protection Act of 2006 Provides Automatic Retirement Savings (PDF)
6 pages. Excerpt: "The automatic enrollment, escalation, and investment provisions of the Pension Protection Act of 2006 (PPA) apply to 401(k) plans, 403(b) arrangements and section 457(b) plans and participants." (Prudential Retirement)

IRS-Issued Correction (1 of 2) to 411(d)(6) Anti-Cutback Final Regs Issued August 9, 2006 (PDF)
3 pages. (Internal Revenue Service)

IRS-Issued Correction (2 of 2) to 411(d)(6) Anti-Cutback Final Regs Issued August 9, 2006 (PDF)
2 pages. (Internal Revenue Service)

Strategies for Lifetime Income: Tax-Wise Retirement Timing & Withdrawals (PDF)
24 pages. Excerpt: "The focus of this report is on precisely how Americans might reassess current conventional wisdom to utilize personal savings, Social Security, and retirement account vehicles to generate income streams so that they can pursue a fulfilling retirement -- whatever mix of leisure, travel and meaningful work that may involve." (Fidelity Research Institute)

Pension Protection Act Provision May Save Families Hundreds of Thousands of Dollars
Excerpt: "One change in particular, though, has the potential to save families tens, if not hundreds, of thousands of dollars. It is the provision that will allow a non-spouse beneficiary to 'roll' money out of a 401(k) and into an IRA." (

Seven Financial Hazards Women Should Avoid on the Road to Retirement
Excerpt: "Here are seven ways in which women unwittingly sabotage their retirement security - and how they can minimize their mistakes . . . ." (USA TODAY via The Arizona Republic)

Retirement Planning with Target-Date Asset-Allocation Funds
Excerpt: "Target funds have been in the spotlight recently because of the pension reform bill passed in August of 2006. The new rules permit companies to automatically defer employee earnings into 401(k) accounts unless the worker opts out. Target funds might be the fund choice for many companies, since they are designed as a one-decision fund." (The Motley Fool)

Text of ASPPA Letter to the DOL on Its VFC Program and Online Calculator
Excerpt: "This letter is intended to supplement our discussion regarding the use of the US Department of Labor's (DOL) Voluntary Fiduciary Correction Program (VFC Program) and online calculator for the correction of late deposit of elective deferrals." (American Society of Pension Professionals & Actuaries)

Text of ASPPA Comments on Proposed Revision of Form 5500
Excerpt: "ASPPA . . . recommends that the fees disclosed on Schedule C be limited to fees and costs paid by the plan, rather than requiring duplicative disclosure of fees shared by service providers that do not affect plan costs." (American Society of Pension Professionals & Actuaries)

Text of ERIC Comments on Proposed Revision of Form 5500 (PDF)
3 pages. Excerpt: "ERIC's comments relate to two aspects of the proposed revisions: the proposed changes to the Schedule C relating to service provider compensation, and the new asset allocation information requirements." (The ERISA Industry Committee)

Text of American Bankers Association Comments on Proposed Revision of Form 5500 (PDF)
11 pages. Excerpt: "[T]he proposal will require massive technology changes across the financial industry since 'plan specific' information as opposed to plan aggregate information is not currently tracked. In addition, significant clarification is needed regarding indirect compensation and its allocation. . . . Finally, changing the Form 5500 in the manner proposed will not, we believe, achieve the public policy goal of better disclosure. Increased disclosure is not meaningful disclosure." (American Bankers Association)

The Impact of Retirement Risk on Women (PDF)
18 pages. Excerpt: "This report . . . provides key results and discusses issues of particular importance to women, and relates them to the life circumstances of women and to other studies. The report also focuses on differences and similarities in the retirement risks faced by men and women." (Society of Actuaries)

Swedish Employers and Unions Agree on New DC Plan for Salaried Employees
Excerpt: "Sweden's pension plan covering most salaried employees, ITP, is set to switch to a defined contribution (DC) plan for new participants starting January 1, 2007." (Towers Perrin)

Links to Items on Executive Comp, Benefits in General

Overview: Accounting Rule Change May Be Required for Adjustments under Stock Plans (PDF)
4 pages. Full title: "Stock Compensation Accounting Rules May Require Compensation Accounting Charge for Discretionary Capitalization Adjustments under Stock Plans" (Pillsbury Winthrop Shaw Pittman LLP)

Educator's Work Exposed Stock Option Timing Business Scandal
Excerpt: "From his second floor office at Iowa's Tippie College of Business, [University of Iowa finance professor Erik Lie] spent months analyzing data to demonstrate how companies were illegally and retroactively timing stock option grants to fatten bonuses paid to top executives. His work is widely credited with exposing the latest scandal to rattle corporate America." (The Washington Post; one-time registration required)

Overview: SEC Requests Comments on Proposed Expanded Executive Compensation Disclosures
Excerpt: "The Securities and Exchange Commission (SEC) has requested additional comments on a proposed extension of the disclosure requirements for executive and director compensation to include compensation disclosure for three additional highly compensated employees." (CCH Pension and Benefits)

Appellate Court Reinstates Jury Award in USERRA Case, Wallace v. City of San Diego
Excerpt: "The 9th US Circuit Court of Appeals has overturned a district court's dismissal of a jury award to a police officer who claimed he was retaliated against for exercising his rights under the Uniformed Services Employment and Reemployment Rights Act (USERRA)." (PLANSPONSOR; one-time registration required)

Ford Offers 3 Buyout Plans with Goal to Reduce Salaried Ranks Without Layoffs
Excerpt: "At the same time, Ford is offering retention bonuses to a small number of employees to prevent the loss of vital skills." (The Detroit News)

Data Integration Capabilities Creating Next Level in HR Self-Service Technology
Excerpt: "The latest workforce technology developments are proving what a large part software innovation can play in how human resources and benefits professionals do their job." (Employee Benefit News)

Newly Posted Events
(Post Yours!)

CDH Premiums: Are They The New Benchmark?
in California on October 12, 2006
presented by Healthcare Web Summit

Paying for Tomorrow: Tackling the Public Pension Crisis
Nationwide on October 5, 2006
presented by Deloitte

Performance Benchmarking for Competitive Advantage
in California on October 11, 2006
presented by Healthcare Web Summit

Newly Posted Press Releases
(Post Yours!)

Hewitt Study Finds Employees Struggling to Effectively Manage Their Health Care
(Hewitt Associates LLC)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Life & Health Sales Representative for Insurance Carrier
for Great-West Healthcare
in CA, IN, MI

Defined Benefit Analyst
for The Paragon Consulting Group, Inc.
in MD

Pension Consultant
for Preferred Pension Planning Corporation
in NJ

Pension Benefit Calculator
for 1199SEIU Benefit and Pension Funds
in NY

Pension Counselor
for 1199SEIU Benefit and Pension Funds
in NY

Pension Administrator
for Benefit Systems, Inc.
in TX

Pension Administrator/Client Account Representative
for Tax Sheltered Compensation, Inc. (TSC)
in MN

Benefits and Special Projects Manager
for Coty & Bruce Benefits, Inc.
in CA

401(k) Administrator
for MBM Advisors, Inc.
in TX

Employee Benefits Producer, Special Accounts
for ABD Insurance and Financial Services
in CA

Sr Pension Analyst
for T. Rowe Price
in MD

Branch Sales Manager- 401(k) and Pension Solutions
for Schloss & Co., a BenefitStreet company
in NY

Director, Retirement Services
for SEIU Building Service 32BJ Funds
in NY

Employee Benefits Attorney
for Frost Brown Todd LLC
in OH

Retirement Plan Consultant
for Charles W. Cammack Associates
in NY

Claims Examiner
for Great-West Corporate
in KS

Litigation Attorney
for Slevin & Hart, P.C.
in DC

Customer Service Representative
for Great-West Healthcare
in KS

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