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| April 27, 2007 |
Sponsored by: ASPPA and WP&BC
(Click on company name or banner to learn more.)
| The Western Benefits Conference - July 22-25, 2007 |
| Benefits by the Bay, the best of two in one! Jointly sponsored by WP&BC and ASPPA, this conference has been designed with all retirement professionals in mind. Seven industry specific targeted learning tracks, the latest market trends, compliance issues and networking opportunities await. Get early bird registration discounts and learn more at www.asppa.org/wbc or www.westernpension.org |
Text of Final Regs: Designated Roth Accounts Under Code Section 402A (PDF)
57 pages; to be published in the Federal Register on April 30. Excerpt: "These final regulations provide guidance concerning the taxation of distributions from designated Roth accounts under qualified cash or deferred arrangements under section 401(k). These final regulations will affect administrators of, employers maintaining, participants in, and beneficiaries of section 401(k) and section 403(b) plans, as well as owners and beneficiaries of Roth IRAs and trustees of Roth IRAs." (Internal Revenue Service)
401(k) Fee Litigation: A Closer Look (PDF)
5 pages. Excerpt: "[C]lass action lawsuits have recently been filed alleging that the fiduciaries of certain 401(k) plans breached their fiduciary duties relating to plan fees and expenses. . . . [W]e thought it would be useful to look more closely at the claims being made in those cases, in order to get a better understanding of the practices that are being challenged and assess whether there is anything other 401(k) plan sponsors can do to avoid similar litigation." (Kelly, Hannaford & Battles)
Segal Survey of Multiemployer Pension Plans' PPA '06 Funded Percentage and Projected Zone Status (PDF)
2 pages. Excerpt: "The Pension Protection Act of 2006 (PPA '06) will soon require trustees of multiemployer plans to review projections of their financial status at least annually in order to identify emerging funding challenges so they can be addressed effective. If the actuary's projections reveal an emerging funding problem, as indicated by the criteria in the table on the next page . . . " (Segal)
What Sponsors of Multiemployer DC Plans Need to Know About Transparency of Fees and Expenses (PDF)
4 pages. Excerpt: "This Segal Advisory presents an overview of such fees and expenses, summarizes recent developments and notes the implications for multiemployer DC plans [including money purchase and profit-sharing plans, as well as 401(k) plans]." (Segal Advisors)
Retirement Income Planning: Can the Retiree Market Be Profitable for Advisors?
Excerpt: "Financial advisors are already having second thoughts about the retiree market, finding the effort too great and the rewards too meager. This is alarming, because it could keep financial firms from realizing the market's potential, and also leave retirees without the advice they so need. We propose, however, that a practical solution exists." (Still River Retirement Planning Software)
Brokerage Firms Face the 'F' Word: Fiduciary, as in PPA
Excerpt: "Experts suggest that reps who ultimately become fiduciaries will require additional training. Simply holding various series licenses is probably not going to cut it. There are now more options than just a few years ago." (Registered Rep.)
Plaintiff in Class Action Lacked Standing to Sue in Stock Drop Case Due to Cash-Out Years Earlier
Excerpt: "The U.S. District Court for the Eastern District of Michigan said a former ProQuest employee lacks the standing to sue her former employer on charges that the company breached its fiduciary duty by investing workers' retirement savings in employer stock, which plummeted 18% in February 2006. The class action claim led by plaintiff Nicole Vermeylen, who withdrew her investment in ProQuest's stock three years before the February 2006 drop . . . " (PLANSPONSOR.com; free registration required)
Workers Are Slow to Adjust to New Retirement Environment, Survey Shows
Excerpt: "Most American workers have been slow to recognize ongoing changes in the American retirement system, and many are not reacting in ways likely to leave them well-positioned for a comfortable retirement, the Employee Benefit Research Institute (EBRI) has concluded after conducting their [sic] 17th annual Retirement Confidence Survey." (CCH Pension and Benefits)
S.D.N.Y. District Court Says Verizon Cash Balance Plan Not Discriminatory Under ERISA
Excerpt: "Echoing findings by other judges considering cash balance discrimination claims, [the judge] said Verizon's plan was age neutral and that the issue of additional benefits paid to younger employees over older employees was only a function of the time value of money and not age discrimination." (PLANSPONSOR.com; free registration required)
Links to Items on Executive Comp, Benefits in General
How Taxes and Takeovers Figure Into Golden Parachute Cushion for Executives
Excerpt: "For many top executives, losing their jobs could be lucrative. For Sprint Nextel chief executive Gary D. Forsee, it could trigger as much as $73.8 million in pay and benefits, depending on the circumstances. An excise tax would take a bite out of that sum, but it would not be Forsee's problem. Sprint would cover the bill at a cost of $16.1 million." (Washington Post; free registration required)
Overview by Deloitte: IRS Issues Final 409A Regulations – Part II
Excerpt: "This article will concentrate on the restrictions on distributions. . . . The cornerstone of the distribution rules is the set of events on which distributions may be predicated. The plan must specify what events will trigger distributions, when they will begin (by reference to the distribution events) and in what form (lump sum, installments or annuity) they will be made." (Deloitte)
Newly Posted Events
401(k) Automatic Enrollment - It's Not Your Parents' Retirement Plan
Nationwide on June 19, 2007
presented by CCH, a Wolters Kluwer business
ERISA Litigation - Webcast
Nationwide on May 10, 2007
presented by ALI-ABA (American Law Institute-American Bar Association)
IRA Elements 2007 -- Essential Elements of Periodic Training - Advanced
in Illinois on June 5, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training - Advanced
in Wisconsin on June 6, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training - Advanced
in California on June 7, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training - Beginner
in Kansas on June 5, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training - Beginner
in Missouri on June 5, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training- Advanced
in Oregon on June 6, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training- Beginner
in Missouri on June 6, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in Kansas on June 6, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in Missouri on June 7, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Beginner
in Wisconsin on June 7, 2007
presented by Wolters Kluwer Financial Services
Pension Protection Act of 2006 - Regional Workshops
in Washington on June 18, 2007
presented by College of Pension Actuaries
Pension Protection Act of 2006 - Regional Workshops
in Massachusetts on June 27, 2007
presented by College of Pension Actuaries
Pension Protection Act of 2006 - Regional Workshops
in Illinois on July 13, 2007
presented by College of Pension Actuaries
Newly Posted Press Releases
IRS Seeks Nominations for Internal Revenue Service Advisory Council
Internal Revenue Service (IRS)
SHRM Secures Key Provisions in Genetic Nondiscrimination Legislation
Society for Human Resource Management (SHRM)
Submit Your Educator’s Award Nomination Today! - Nomination Deadline is June 1, 2007.
American Society of Pension Professionals & Actuaries (ASPPA)
New Study Finds All-Round Skills are Key for Employee Communicators
Melcrum
Chairman Miller: Labor Dept. Must Use Information It Collects on 401(k)s to Improve Disclosure Requirements
U.S. House Education and Labor Committee
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Pension Administrator
for Preferred Pension Planning Corporation
in NJ
DB or DC Plan Analyst
for Derby and Company, Inc.
in MA
Benefits Administrator -- Defined Benefits
for Cambridge Advisory Group
in MA
Retirement Products Attorney
for The Hartford Financial Services Group, Inc.
in CT
Senior Pension Analyst
for Boyce & Associates, Inc.
in AZ
Sr. Employee Benefit Specialist
for Principal Financial Group
in MA
Regional Vice President - Sales (Mid-America)
for BISYS Retirement Services
in KS, MN, MO
Pension Plan Operations Representative
for Transamerica Retirement Services
in CA
DB Professional
for Benetemps
in MA
Pension Administrator
for Valley Forge Consulting Corporation
in PA
Plan Services Consultant
for American United Life Insurance, a OneAmerica financial partner
in IN
Senior Analyst, Executive Compensation
for The Washington Post Company
in DC
Consultant - Employee Benefits Specialist in Northern NJ
for Xcitek Consulting Services
in NJ
Health Insurance Account Manager for Insurance Carrier
for Great-West Healthcare
in MA
DC Testing Specialist
for Kravitz - Louis Kravitz & Associates
in CA
Benefits Analyst IV
for UC Davis Health System
in CA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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