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| May 9, 2007 |
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Pick and choose the software modules you need: DC/401(k) Proposals & Administration – DB Proposals & Administration – Retirement Plan Documents (Prototype and Volume Submitters) – Government Forms (5500s, 1099-Rs, 5300s) – Cafeteria Plan Administration & Documents – Participant Termination Calculations – FAS 132 Reporting Contact sales@datair.com or call 1-888-328-2474. |
ESOP Change Violates ERISA, Judge Rules
Excerpt: "A U.S. District Court of Hawaii recently ruled that Innovative Technical Solutions violated the Employee Retirement Income Security Act when it terminated the right of its employees to receive put options for in-kind distributions of non-public stock distributed from a 401(k) and employee stock ownership plan." (BenefitNews Connect)
Employers Need to Figure Out What 401(k) Fees They Are Paying and Why They Are Paying
Excerpt: "The crux of the issue is that no one knows what 401(k) plan sponsors are paying in fees, says Don Stone, president of Plan Sponsor Advisors, a Chicago-based 401(k) consultant. It's up to employers to get in front of the issue and act now to make sure they know what they are paying and why they are paying it, experts say." (Workforce Management; free registration required)
Opinion: You Can't Afford to Turn a Blind Eye to Client/Fiduciary
Excerpt: "No matter how you are registered and regulated, you can't afford to turn a blind eye to the breaches of your clients who are fiduciaries -- investment committees of retirement plans, foundations and endowments, and trustees of personal trusts." (Investment News; free registration required)
CIGNA's 401(k) Fee Suit Defense: We Obey All Current Laws
Excerpt: "While CIGNA Corporation lawyers' defense against excessive fee and inadequate fee disclosure allegations in the company's 401(k) plan runs to 27 pages, it comes down to this: We did what we were legally required to do." (PLANSPONSOR.com; free registration required)
The Employer 'Get Wise' Guide for the New 403(b) Regs
Excerpt: "Coming 403(b) regulations offer employers a unique opportunity to drastically improve the quality and cost of their 403(b) retirement plan. [The target page] is an employer guide for capitalizing on this opportunity to create a plan worthy of your most important asset: your employees." (403(b)wise, LLC)
Center for Retirement Research at Boston College Survey Finds Employers Cool to Older Workers
Excerpt: "The analysis found that companies are more likely to accommodate older workers if they expect employment growth, value older workers' institutional knowledge and have older workforces." (Investment News; free registration required)
Issue Brief: Employers Lukewarm About Retaining Older Workers
Excerpt: "The . . . survey found that employers expect that 1) half their employees over age 50 will lack the resources needed to retire at their organization's traditional retirement age; and 2) half of those who lack resources will want to work at least two years longer than similar workers have in the past." (Center for Retirement Research at Boston College)
Text of New York City Bar Comments on DOL Interim Final QDRO Rule (PDF)
13 pages. Excerpt: "We suggest some modifications to clarify concerns where: (1) a DRO is issued after, or revises a prior DRO; (2) a DRO is issued after certain events, such as the death, divorce or remarriage of the participant; or (3) other QDRO requirements or protections may be violated by a DRO that meets condition (1) or (2), such as a DRO that violates the prohibition on a QDRO from requiring a plan to provide increased benefits (determined on the basis of actuarial value)." (New York City Bar)
Department of Energy Seeks Comments on Policy Toward Contractors' Pensions
Excerpt: "The DOE first announced a controversial policy to stop reimbursing contractors for defined benefit (DB) plan expenses for new employees in April 2006. After a deluge of objections, the department decided to put the policy on hold for a year, so it could meet with key stakeholders (although this is its first request for comments from the public)." (Watson Wyatt Worldwide)
UK Pension Regulator Maps Out Three-Year Plan
Excerpt: "The UK's Pension Regulator said it will focus on boosting the funding of defined benefit schemes, improving the governance of work-based pensions and reducing the risks to plan participants enrolled in defined contribution plans." (PLANSPONSOR.com; free registration required)
Towers Perrin U.S. Legislative Tracking Charts -- Retirement -- Updated May 4, 2007 (PDF)
3 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin)
2007 Investment Company Factbook: A Review of Trends and Activity in the Industry (PDF)
176 pages. Excerpt: "Financial markets have experienced a variety of pressures in the past several decades. Some of these pressures -- historically large fluctuations in interest rates, two long-running bull markets in stocks, the introduction and growth of IRAs and 401(k) plans, the globalization of financial markets, and the introduction and expansion of the Internet -- have helped give rise to the modern-day fund industry." (investment Company Institute)
Overview: PBGC Semiannual Regulatory Agenda Proposes Changes to Comply with PPA
Excerpt: "The PBGC has issued its semiannual regulatory agenda, which proposes amending current regulations on Reportable Events and Certain Other Notification Requirements under ERISA §4043 to conform to proposed changes to regulations on premium rates under ERISA §4006." (Wolters Kluwer Law & Business)
Sponsored by: ASC & The ASC Institute
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| (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) |
Links to Items on Executive Comp, Benefits in General
New Book Published by Vault: The Vault Guide to Actuarial Careers, 2007 Edition
Excerpt: "This Vault guide shows you how to begin an actuarial career--one of the most creative options for a statistician, economist or mathematician--and how to advance your career. The guide gives you an inside look at landing interviews, interview questions, typical days in the life of an actuary and the inside scoop on the top actuarial employers." (Vault, Inc.)
Chairman Waxman Requests Information from Executive Compensation Consultants
Excerpt: "Chairman Waxman writes to six leading executive compensation consulting firms seeking information about the services they provide to large U.S. corporations." (U.S. House Committee on Oversight and Government Reform)
Report: Present Law and Background Relating to Worker Classification for Federal Tax Purposes (PDF)
17 pages. Excerpt: "The Subcommittee on Income Security and Family Support and the Subcommittee on Select Revenue Measures of the House Committee on Ways and Means have scheduled a joint public hearing for Tuesday, May 8, 2007, on the effects of misclassifying workers as independent contractors." (U.S. Joint Committee on Taxation)
Testimony: Employee/Independent Contractor Misclassifications
Excerpt: "This testimony draws upon a previous GAO report and focuses specifically on (1) the number and characteristics of independent contractors, (2) the workforce protections and benefits provided to employees that typically are not available to independent contractors, and (3) the actions that DOL takes to detect and address employee misclassification. [Highlights are at http://www.gao.gov/highlights/d07859thigh.pdf.]" (U.S. Government Accountability Office)
Union Reports: Online Public Disclosure Room
Excerpt: "[The OLMS Online Public Disclosure Room] is powered by a new database query system. From this site you can (1) view and print reports filed by unions, union officers and employees, employers, and labor relations consultants for the year 2000 and after and reports filed by unions for trusts in which they have an interest, (2) order reports for the year 1999 and prior, and (3) search the union annual financial reports for the year 2000 and after and the trust reports for key data items." (U.S. Department of Labor)
Towers Perrin U.S. Legislative Tracking Charts -- Human Resources -- Updated May 4, 2007 (PDF)
7 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin)
Newly Posted Events
401(k) Fee Reasonableness and Transparency Teleweb
Nationwide on May 24, 2007
presented by International Foundation of Employee Benefit Plans
401(k) Plan Workshop
in Kansas on May 17, 2007
presented by SunGard Relius
401(k) Plan Workshop
in New York on May 17, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Georgia on May 18, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Wisconsin on May 18, 2007
presented by SunGard Relius
401(k) Plan Workshop
in New York on May 23, 2007
presented by SunGard Relius
Cafeteria Plans for Rookies -- How to Play by the Rules and Keep the Umpires Happy
Nationwide on April 26, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Final Roth Distribution Regulations: What you need to know!
Nationwide on June 27, 2007
presented by McKay Hochman Co., Inc.
Form 5500 Workshop
in New York on May 16, 2007
presented by SunGard Relius
Form 5500 Workshop
in Kansas on May 16, 2007
presented by SunGard Relius
Form 5500 Workshop
in Georgia on May 17, 2007
presented by SunGard Relius
Form 5500 Workshop
in Wisconsin on May 17, 2007
presented by SunGard Relius
Form 5500 Workshop
in New York on May 22, 2007
presented by SunGard Relius
Qualified Transportation Plans -- Pre-Tax Parking and Transit Pass Plans, and the New Debit Card Guidance
Nationwide on June 7, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
The Top 15 Qualified Plan Distribution Questions
Nationwide on August 1, 2007
presented by McKay Hochman Co., Inc.
Newly Posted Press Releases
President of The ESOP Association Urges Congress to Enact the ESOP Promotion and Improvement Act of 2007 and Start Building an Ownership Society
ESOP Association
National Business Group on Health Honors Best Employers for Healthy Lifestyles
National Business Group on Health
The Public Is Willing to Support Many Options to Expand Health Insurance Coverage, But Not All
Wall Street Journal
Congresswoman Tubbs Jones Re-Introduces Retirement Security for Life Act
Office of Congresswoman Stephanie Tubbs Jones
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
DB Administrator
for Matthews, Gold, Kennedy & Snow, Inc.
in AZ
Senior Pension Consultant / Administrator
for Benefits Integrity
in CO
Plan Administrator
for Third Party Administration Firm
in FL
Employee Benefits Attorney
for Zelinka & Prince Search Partners
in AZ, CO, NV
Sales & Marketing - Vice President (VP)
for Raymond James Financial, Inc.
in FL
Associate Consultant - Retirement Plan Services
for The Bostonian Group
in MA
401(k) Plan Administrator
for Northeast Planning Services, Inc.
in MA
Associate Pension Consultant
for Mercer Advisors
in AZ
401(K) / DC Administrator
for Fringe Benefit Administrators, Ltd.
in LA
401(k) Products Department - Sales Associate
for Citigroup-Smith Barney
in NY
Associate Director Call Center
for 1199SEIU Benefit and Pension Funds
in NY
Pension Benefit Calculator
for 1199SEIU Benefit and Pension Funds
in NY
Group Health Benefits AE and Team Leader
for Wachovia
in NC
Group Benefits Division Leader
for Wachovia
in GA
Group Benefits Account Executive
for Wachovia
in GA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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