April 9, 2007 Sponsored by: ASPPA (Click on company name or banner to learn more.)
National Savings Rate Guidelines for Individuals Excerpt: "This study creates savings guidelines for typical individuals with different ages, income levels, and initial accumulated wealth so the public can more easily determine how much to save for retirement. It also creates benchmarks for how much capital an individual would have accumulated based on their income and age, with the presumption that they started saving at age 35." (Journal of Financial Planning) New Comparability Plan: A New Paradigm in Retirement Planning for Small-Business Owners Excerpt: "A profitable, closely held small-business owner not only may want to implement a qualified retirement plan for the business, but also contribute additional money on a pre-tax basis beyond the current annual elective deferral limits. And the owner may simultaneously want to minimize contributions to lower-paid employees. One answer is the new comparability plan." (Journal of Financial Planning) Some Variable Annuity-Related Costs in 401(k)s Are Exorbitant, According to Critics Excerpt: "Many Americans are paying high fees in their 401(k) plans for insurance they don't need, and their employers often are unaware, some observers say. The culprit, the observers say, is a fee for mortality-and-expense risk that is part of the variable annuities often offered to 401(k) plan participants." (Investment News; free registration required) Chart: Overview of the 403(b) Market Excerpt: "The . . . chart illustrates the distribution of investments in the 403(b) market as of December 31st of each year. " (403bwise) PBGC Finances Improved, But Impact of PPA Uncertain, CRS Report Notes Excerpt: "Due to a better economic climate, the financial health of the PBGC has improved since the 2002-2005 period of record losses, according to a report by the Congressional Research Service (CRS), but underfunding in plans sponsored by financially weak entities continues to present a unknown level of risk to the PBGC." (Wolters Kluwer Law & Business) Former Kentucky Lottery Worker Says Retirement Plan is a Loser Excerpt: "A former Kentucky Lottery Corp. worker has sued her former employer, several of its top executives, and Fidelity Investments -- claiming her retirement plan will give her less than Social Security." (PLANSPONSOR.com; free registration required) The Ideal and Reality of Retirement Sometimes Don't Mesh Excerpt: "The key to dealing with the potential financial difficulties of retirement is early planning." (halfmoonbayreview.com) Washington Mutual's Cash Balance Plan Draws Scrutiny Excerpt: "A well-known ERISA litigator has launched an investigation into a cash balance conversion. Seattle-based Keller Rohrback L.L.P. has announced its investigation against Washington Mutual, Inc. . . . for what the firm termed 'potential violations of the Employee Retirement Income Security Act of 1974 (ERISA').'" (PLANSPONSOR.com; free registration required) Financially, Your House Doesn't Add Up the Way You Think Excerpt: "Dallas L. Salisbury, the head of the Employee Benefit Research Institute, says it's fair game to count your house as part of retirement assets as long as you also factor in related expenses. And 'if you count it, you have to make sure you're focused on the fact that, when push comes to shove, you still need a place to live.'" (The Washington Post; free registration required) Links to Items on Executive Comp, Benefits in General Executive Compensation Disclosure: One Article from NYT Special Report on Executive Pay Excerpt: "This year, for the first time, corporate filings disclose a single, handy executive compensation figure. But how that figure was calculated differs markedly from how investors arrived at similar ones in previous years -- making apples-to-apples comparisons difficult. [Other articles in this special section are at http://www.nytimes.com/indexes/2007/04/07/business/businessspecial/index.html.]" (The New York Times; free registration required) Louisiana Public Pension Fund Wins First Court Round in Options Backdating Probe Excerpt: "A Delaware state judge has turned away a request to dismiss a shareholder lawsuit seeking documents generated during investigations into possible stock options backdating by Countrywide Financial Corp." (PLANSPONSOR.com; free registration required) Newly Posted Events How Recent Legislative Changes Makes HSAs Even More Attractive in California on May 2, 2007 presented by Healthcare Web Summit PPA and Form 5500--What You Need to Know in Illinois on April 26, 2007 presented by WEB - Chicago West Newly Posted Press Releases Chicago Employers Work to Improve Health and Lower Health Care Costs for People with Diabetes Midwest Business Group on Health Newly Posted or Renewed Job Openings Retirement Compliance Testing Manager for Vanguard in PA 401k Administrator for Vanguard in PA Plan Manager for The Hartford in CT Plan Manager for The Hartford in CT Director of Participant and Sponsor Marketing for Transamerica Retirement Services in CA Art Director - Marketing for Transamerica Retirement Services in CA Sr. Benefits Planning Analyst for Aerojet - Sacramento in CA 401(k) Client Services Specialist for 1st Global in TX Pension Administrator for Pension Professionals, Inc. in AZ Vice President, Member Services for United Benefit Advisors in IN Handy Links:
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