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| May 2, 2007 |
Sponsored by: ASPPA and WP&BC
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| 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 |
PowerPoint Presentation: 401(k)/ERSIA Basics (PDF)
51 pages. (Haynes and Boone, LLP)
Employers Planning to Increase Retirement Planning Assistance to Employees, Survey Says
Excerpt: "American employers expect to begin taking a more aggressive role in assisting their employees with planning for retirement security, according to a recent survey of defined contribution plan trends conducted by Buck Consultants." (Wolters Kluwer Law & Business)
Lifestyle and Lifecycle Funds - Why Have So Many Plans Not Yet Added These Investment Options?
Excerpt: "Lifestyle or lifecycle funds appear to be the perfect fit for the millions of defined contribution plan participants who do not want to bother with making investment choices on their own. They simply identify a risk tolerance or, in the case of lifecycle funds, a retirement date." (PLANSPONSOR.com; free registration required)
Beazer 401(k) Participants Sue Over Sub-Prime Mortgage Losses
Excerpt: "The pension plan participants of an Atlanta home builder, whose mortgage subsidiary was involved in the risky subprime lending market, sued the fiduciaries of their 401(k) plan Monday, charging they allowed participants to invest in company stock when it was imprudent to do so." (PLANSPONSOR.com; free registration required)
Measure Proposes '401Kids' Accounts
Excerpt: "A congressional measure sitting in committee would create savings accounts for children that could finance a college education, a house or retirement." (Investment News; free registration required)
Opinion: Could One Generation's Refusal to Retire Be Social Security's Saving Grace?
Excerpt: "'The boomers will not solve the Social Security problem politically, but they will solve it individually -- by continuing to work.'" (Society of Actuaries)
Oklahoma Senate Measure Increases Teachers' Retirement System Contributions
Excerpt: "The Oklahoma Senate approved a bill aimed at bolstering the state's retirement system for teachers by increasing employer contributions by about 1.6%, the Associated Press reported." (PLANSPONSOR.com; free registration required)
ArvinMeritor, Automotive Components Supplier, to Freeze DB Plans, Boost DC Payments
Excerpt: "According to a company press release . . . the plan freeze for salaried and non-represented employees in the U.S. will begin January 2008. It will affect approximately 3,800 employees including certain workers who will continue to accrue benefits for an additional transition period, ending June 30, 2011." (PLANSPONSOR.com; free registration required)
CRS Report: The Pension Benefit Guaranty Corporation and the Federal Budget (PDF)
6 pages. Excerpt: "This report outlines the operational cash flows of the PBGC and how they are affected by provisions of the PPA as well as certain provisions included in the President's budget proposal for FY2008." (Congressional Research Service)
New Rules for Hardship Distributions and Rollovers Help Domestic Partners
Excerpt: "PPA may best be known - among proponents of domestic partner relationships - as the first time federal law will recognize the rights of a domestic partner for purposes of qualified retirement plans. A very subtle PPA provision modifies the rules governing 401(k) hardship distributions to permit plans to treat certain beneficiaries the same way as a participant's spouse or dependents in determining if a hardship had occurred." (Employee Benefit News)
Opinion: Lessons Learned in Conducting Employee Ownership Practices
Excerpt: "Perhaps the most important lesson I've learned in my practice is that, correctly done, employee ownership is one of the very few situations in life that can actually be a win-win situation (or, more correctly a situation with the same number of wins as parties involved)." (Beyster Institute)
Employee Ownership Update for May 1, 2007
NCEO Executive Director Corey Rosen discusses a survey finding that the value of stock option grants has declined; a private letter ruling that allows the seller to an ESOP to transfer qualified replacement property to a grantor retained annuity trust without constituting a disposition; S corporation ESOP-bashing from a Newsweek columnist; and keys to employee involvement from Google and W.L. Gore. (National Center for Employee Ownership)
Opinion: Cleaning Up the Public Pension System
Excerpt: "Personally, I think we should pay the Commonwealth's public servants more, not less. However, this payment should come in the form of current salary, not post-retirement benefits. Skewing compensation toward post-retirement benefits is bad for workers and bad for taxpayers, but it is inevitable as long as those benefits are less transparent than wages." (The Boston Globe)
Industry Weighs Pros and Cons of New Pension Laws
Excerpt: "A relatively unknown provision of the recently-signed Pension Protection Act could pave the way for hedge funds to play a bigger role in pension plans. And that could put hedge funds under an even hotter regulatory spotlight." (Wolters Kluwer Financial Services)
Links to Items on Executive Comp, Benefits in General
Listing of IRS Published Guidance for January-April 2007
The target page links to guidance published by the Service relating to retirement plans: Treasury Regulations; Revenue Rulings; Revenue Procedures; Notices; and, Announcements. (Internal Revenue Service)
White Paper: Best Practices in Benefits Communications
Excerpt: "This white paper examines the strategic and operational challenges for companies of all sizes whether they are considering implementing a new benefits plan or are well on their way in the process." (Workforce Management; free registration required)
Summary Plan Descriptions - HR Must Ensure They're Understandable Yet Legally Compliant
Excerpt: "A study released last year by the University of Nebraska-Lincoln College of Law in Lincoln, Neb., found that critical information in SPDs is, on average, written well above the comprehension level of the average employee. After reviewing 40 randomly selected health-plan SPDs, researchers at the college concluded that the average SPD is written at a college-freshman reading level . . . ." (Human Resource Executive Online; free registration required)
Text of Rev. Rul. 2007-24: Exchange of Nonqualified Annuity Contract (PDF)
4 pages. Excerpt: "If a Taxpayer receives a check from a life insurance company under a nonqualified annuity contract, the endorsement of the check to a second company as consideration for a second annuity contract does not qualify as a tax-free exchange under § 1035(a)(3). Instead, the amount received is taxable to the extent set forth in ยง 72(e)." (Internal Revenue Service)
Current Controversies in Executive Compensation: 'Issues of Justice and Fairness'
Excerpt: "As Thomas Dunfee, Wharton professor of legal studies and business ethics, puts it: Do executive compensation figures reflect an efficient market, or a failed one? Are pay levels adequately disclosed? Should shareholders have more say? 'Are there issues of fairness and justice?' he asked." (Wharton School of University of Pennsylvania)
To Help Executive Retention, Try Increasing Executive Benefits
Excerpt: "Enhancing your executive protection suite can be one of the smartest and most cost-effective ways to communicate your organization's appreciation for its top talent. Bolstering executive insurance -- such as life insurance, disability insurance and long-term care insurance -- addresses important areas of financial concern and planning for executives, many of whom are greatly exposed in these areas." (Employee Benefit News)
Final Regulations under Section 409A: Implications for Equity Compensation Arrangements (PDF)
6 pages. Excerpt: "The key provisions of the Final Regulations as they relate to equity compensation vehicles, such as stock options, stock appreciation rights, restricted stock, restricted stock units, and phantom stock, are summarized [in the target page]." (Morgan, Lewis & Bockius LLP)
Newly Posted Events
2006 Form 5500, Schedule A to SSA and Back Again
Nationwide on May 3, 2007
presented by Thompson Interactive, A Division of Thompson Publishing Group
HIPAA Update: Designing Wellness Programs That Are Legal and Effective
Nationwide on May 10, 2007
presented by Thompson Interactive, A Division of Thompson Publishing Group
IRA Elements 2007 -- Essential Elements of Periodic Training - Advanced
in Maine on June 12, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training - Advanced
in Nebraska on June 12, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training - Advanced
in New Hampshire on June 13, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training- Beginner
in Kentucky on June 12, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in South Dakota on June 12, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in North Dakota on June 13, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in Kentucky on June 13, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in Kentucky on June 14, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in Minnesota on June 14, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in Massachusetts on June 14, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Advanced
in Minnesota on June 14, 2007
presented by Wolters Kluwer Financial Services
IRA Elements 2007 -- Essential Elements of Periodic Training-Beginner
in Minnesota on June 13, 2007
presented by Wolters Kluwer Financial Services
Severance Pay: The New Rules for Deferring
Nationwide on June 14, 2007
presented by McKay Hochman Co., Inc.
The Wait is Over For Those Who Serve: Tax-Exempt and Governmental Entity Compensation Under the Final 409A Regulations - Webcast
Nationwide on May 8, 2007
presented by Venable LLP
Newly Posted Press Releases
2006 National Survey of Employer-Sponsored Health Plans
Mercer Human Resource Consulting
New Study Sheds Light on Americans' Real Risk of Disability
Milliman USA
Fidelity Research Finds Husbands And Wives Approaching Retirement Have Different Understanding Of Their Financial Plans
Fidelity Investments
Healthy Merits Offers Cure for Escalating Healthcare Costs
Meritain Health
Council for Disability Awareness Releases 2006 Claims Review From Leading Insurers, Social Security Data
Council for Disability Awareness (CDA)
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Retirement Plan Coordinator
for The Capital Group Companies
in TX
Retirement Plan Coordinator
for The Capital Group Companies
in CA
Pension/ERISA Attorney
for Major Lindsey & Africa
in MA
Health Care and Life Events Program Manager
for Louis Thomas Masterson & Company
in OH
Special Markets Technical Advisor
for John Hancock
in MA
Pension Administrator
for R-Tech Consultants, Inc. in Woodland Hills, CA
in CA
Pension Administrator
for The Benefits Consulting Group, Inc.
in IL
Plan Administration Operations Manager
for R-Tech Consultants, Inc.
in CA
Manager, Data Consulting
for Fidelity Investments
in NH
Director, Account Management - Alliance, Multi-Fund, GMF/GVA
for Lincoln Financial Group
in IN
Manager, Actuarial Department
for Means & Associates, LLC
in CA
Benefits Consultant
for Northwestern Benefit Corporation of Georgia
in GA
Benefits Administrator
for Northwestern Benefit Corporation of Georgia
in GA
Plan Administator
for The Newport Group
in NC
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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