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| April 25, 2007 |
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Text of EBSA Request for Information on Investment Fee and Expense Disclosure in Self-Directed Plans (PDF)
Excerpt: "The purpose of this review is to determine to what extent rules should be adopted or modified, or other actions should be taken, to ensure that participants and beneficiaries have the information they need to make informed decisions about the management of their individual accounts and the investment of their retirement savings." (Employee Benefits Security Administration, U.S. Department of Labor)
GM Reducing Employees' 401(k) Plan Investment Options
Excerpt: "Starting June 29, General Motors' plan for salaried employees will offer 39 choices, down from 73, and the plan for hourly employees will offer 38 choices, down from 71. " (Workforce Management; free registration required)
Online Presentation: 401(k) Fees Issues: What Plan Sponsors Need to Know (PDF)
31 pages. (Morgan, Lewis & Bockius LLP)
DOL Asks for Comments About Fee Disclosure for 401(k) Plans and Other Defined Contribution Plans
Excerpt: "The agency announced it is seeking a request for information to assist the department in improving information provided to estimated 41 million participants about administrative and investment fees and expenses charged in 401(k) plans." (Investment News; free registration required)
403(b) Regulations: Understanding the Proposed Changes (PDF)
16 pages. Excerpt: "This resource will provide you with a review of the proposed regulations, answers to commonly asked questions and concerns, and a game plan for streamlining your compliance process." (StanCorp Equities, Inc. via 403bwise.com)
State Scholar Suggests Borrowing Again to Meet Massive Pension Underfunding
Excerpt: "'The revenues from bonds are invested in the pension system and the interest pays back the bonds and returns funds to the pension system. The pension fund investments have been so successful 'that the state can get a higher return on those investments-enough to pay back bonds and return funds to the pension system,' . . . ." (The MidWeek, Inc.)
Nasdaq to Freeze Pension Plan
Excerpt: "Nasdaq Stock Market Inc. has imposed a 'hard freeze' on its pension plan and supplemental executive retirement plan, effective May 1, according to a regulatory filing Tuesday with the Securities and Exchange Commission." (The Houston Chronicle)
Pension Proposals Would Allow Phased Retirement
Excerpt: "A brief provision buried deep in last year's mammoth Pension Protection Act lets workers 62 or older receive payments from their traditional defined-benefit pension plans even if they are still working. Although the law took effect Dec. 31, older workers can't get these payments unless their employer's plan allows it, and most employers probably won't allow it until the [IRS] issues final regulations, which could take months or years. Some employers might never allow it." (Scripps Media Center and Scripps Howard News Service)
Preliminary Analysis of Oral Argument in Beck ERISA Fiduciary Case at the Supreme Court
Excerpt: "[A]t issue is whether a company, Crown Vantage, violated its ERISA fiduciary duties to its pension plan participants to act in their best interests when it decided to terminate a number of its pension plans and purchase annuities for the participants of the plans." (Workplace Prof Blog)
New Job? Take Your Pension Fund with You
Excerpt: "What happens to money you invest in a job-based retirement fund after you leave the company? There are steps you can take to handle health savings and retirement fund money when switching jobs." (Day to Day via National Public Radio)
The Social Security Fix-It Book
Excerpt: "The Fix-It Book is a colorful and lively guide to the Social Security program, its long-term financing challenge, and leading proposals for fixing it. It explains: why Social Security has a long-term shortfall; how fixing it requires reducing benefits and/or raising revenues; what the pros and cons are of various benefit and revenue options; and why a long-lasting solution is needed." (Center for Retirement Research at Boston College)
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Links to Items on Executive Comp, Benefits in General
Overview: Guidance on Application of Code Sec. 409A to Split-Dollar Life Insurance Arrangements
Excerpt: "Generally, split-dollar life insurance arrangements that provide for deferred compensation under Reg. §1.409A-1(b) are subject to the requirements of Code Sec. 409A. Code Sec. 409A provides that amounts deferred under a nonqualified deferred compensation plan for all taxable years may be currently includible in gross income, unless certain requirements are met." (Wolters Kluwer Law & Business)
Overview: Final Deferred Compensation Regulations (PDF)
12 pages. Excerpt: "Virtually all deferred compensation arrangements must be amended by December 31, 2007 to comply with the new rules. Failure to comply will cause all deferred compensation under the plan (and, because of aggregation rules, under all plans of the same type) to be taxed to the affected individual when it is earned and vested, at normal income tax rates, plus an additional 20% penalty tax . . . ." (Seyfarth Shaw LLP)
Delaware Court Considers Fiduciary Duty Issues in Stock Option Backdating and Spring-Loading (PDF)
3 pages. Excerpt: "While most of the attention and controversy regarding stock option grant practices has focused on potential accounting misstatements and related securities law violations, a pair of recent decisions of the Delaware Chancery Court demonstrates that corporate law fiduciary duty issues are presented as well." (Powell Goldstein LLP)
The Continuing Controversy Over Standing To Sue Under ERISA
Excerpt: "The standing concept has been refined as an effective defense to ERISA claims and may be rightfully regarded as one of the current hot topics in the ERISA field. The notion of standing is so fundamental that it can be overlooked, and its contours sufficiently vague to allow for a division of judicial opinion as to its application." (Health Plan Law blog by Attorney Roy F. Harmon III)
Newly Posted Events
401(k) Plan Workshop
Nationwide on May 1, 2007
presented by SunGard Relius
Backdated and Misdated Stock Options: What a Difference a Date Makes
Nationwide on May 22, 2007
presented by ABA Joint Committee on Employee Benefits
Pension Protection Act of 2006 - Regional Workshops
in Missouri on May 10, 2007
presented by College of Pension Actuaries
Pension Protection Act of 2006 - Regional Workshops
in Georgia on June 11, 2007
presented by College of Pension Actuaries
Newly Posted Press Releases
Boyd Gaming Selects CitiStreet As 401(k) Administrator
CitiStreet
Prudent Investor Advisors, LLC Selected by ARUP Laboratories to Manage Its Retirement Plan
Prudent Investor Advisors, LLC
Internet Guide to Health & Healing Resources on New Natural Health Website
C&D Natural Health Healing Resources
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Retirement Plan Administrator- Defined Contribution/Daily Valuation
for Schloss & Co., a BenefitStreet co.
in NY
Compliance Specialist/Plan Administrator
for Independent Pension Consultants, Ltd.
in MN
Pension Analyst
for Benefit Plans Plus, L.L.C. (An equal opportunity employer)
in MO
Plan Manager
for ING Insurance Americas
in CT
Plan Administrator
for The Newport Group
in WI
Recordkeeper
for Guidant Financial Group, Inc
in WA, WI
Plan Sponsor Desk Team Manager
for Transamerica Retirement Services
in IA
Defined Contribution Conversions Manager
for New York Life Retirement Plans Services
in MA
Relationship Manager
for New York Life Retirement Plans Services
in MA
Retirement Compliance Advisor
for NRECA
in VA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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