BenefitsLink |   |
| May 11, 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 |
SEC Eyes Interactive Software for 401(k) Participant Information
Excerpt: "The Securities and Exchange Commission is examining disclosures for 401(k) plans and is looking at ways to provide such information using interactive software, SEC Chairman Christopher Cox . . . told the mutual fund industry . . . ." (Investment News; free registration required)
Roth 457 Dropped from House-Senate Conference Committee Agreement
Excerpt: "The proposal, which creates savings plans similar to Roth 401(k)'s, is likely to be included in a subsequent spending bill sometime this year as it raises $1 billion for the Treasury and has no significant opposition." (ICMA-RC)
Overview: Plaintiffs Challenge 401(k) Plan Fees in Suits (PDF)
5 pages. Excerpt: "These suits allege the defendants authorized or received unreasonable fees (referred to as 'revenue sharing') for services provided to 401(k) plans, and failed to adequately account for such fees or properly disclose them to participants." (MEALEY'S LITIGATION REPORT: ERISA via Alston & Bird LLP)
Overview: Should a 401(k) Plan Be a Safe Harbor 401(k) Plan?
Excerpt: "Safe harbor 401(k) plans are very attractive because if the plan satisfies four conditions, then the 401(k) antidiscrimination test is deemed satisfied. Then the company's owners and other highly paid employees can contribute the maximum to the 401(k) portion of the plan and not worry about receiving a refund at the end of the year." (The New York State Society of CPAs)
Presentation: Employee Stock Ownership Plans (PDF)
22 pages. The target page is an outline of the basics of ESOPs. (Morgan, Lewis & Bockius LLP)
Overview: ERISA Fiduciary Responsibilities and Registered Investment Advisors
Excerpt: "Plan sponsors retaining RIAs utilize a fiduciary model for their clients and thus have a legal obligation to put their client's interests first -- a stark contrast to the traditional commission-based brokerage model." (The New York State Society of CPAs)
Canadian Pension Funds Becoming Buyout Players
Excerpt: "Public pension funds have long been big investors in private equity. Now, some big Canadian pension funds are taking a page from the private equity playback and taking the lead in buyouts." (The New York Times; free registration required)
New Jersey to Pare Its Public Pension Rolls
Excerpt: "Governor Corzine signed legislation Thursday that would remove newly elected and appointed officials from the state's public employee pension system and enroll them in a new 401(k)-styled retirement program. It would also exclude professional services contractors, such as municipal lawyers, architects and engineers from enrolling in the system." (NorthJersey.com)
Using the Roth IRA for Current-Year Tax Relief
Excerpt: "Although the primary benefit of the Roth IRA usually is considered to be its tax-free growth, Roth contributions also can provide current-year tax relief via the Retirement Savings Contributions Credit." (The New York State Society of CPAs)
Health Bills and Lack of Access to Employment-Based Plans Slow Retirement Savings
Excerpt: "About 60% of U.S. workers who are not saving for retirement say they are extremely concerned about not having enough money for retirement. Researchers at LIMRA International, Windsor, Conn., present that result in a discussion of results from a survey of 2,000 U.S. employees." (The National Underwriter Company; free registration or paid subscription required)
Watson Wyatt Says PPA Effect on Defined Benefit Plan Closings Unclear
Excerpt: "Following a new analysis of defined benefit plan sponsorship among Fortune 100 companies, experts at Watson Wyatt Worldwide say the effect of last year's pension reform law on DB plan sponsorship remains unclear." (PLANSPONSOR.com; free registration required)
Links to Items on Executive Comp, Benefits in General
GASB Retiree Benefits Standard Rejected by Texas House
Excerpt: "Against the advice of the nation's top accounting firms, academic experts and some of Wall Street's big names, the Texas House on Thursday unanimously approved legislation that rejects a nationwide accounting rule on the long-term costs of benefits to retired government workers." (Austin American-Statesman)
New Accounting Rules for Postretirement Benefits: SFAS 158 Effect on Financial Statements
Excerpt: "Based on the impact of recognizing the net funded assets/liabilities of postretirement benefit plans on the balance sheet as required under SFAS 158, and the financial ratios of Merck, the authors can safely say that the financial statements of all companies with such plans will show similar results." (The New York State Society of CPAs)
The Effects of GASB 43 and 45 on Government Finances
Excerpt: "GASB's new accounting rules require that municipalities measure, recognize, and disclose future obligations for providing other postemployment benefits (OPEB), mainly healthcare. This process will be phased in over a three-year period, starting with the largest states and cities." (The New York State Society of CPAs)
Overview: IRS's Semiannual Regulatory Agenda Including Pension and Benefit Projects
Excerpt: "Some of the areas in which the IRS will be drafting proposed regulations include the following: the definition of a 'highly compensated employee'; clarification of the general rules for deductibility of employer contributions to qualified retirement plans and other deferred compensation arrangements . . . ." (Wolters Kluwer Law & Business)
Employers Increasingly Dependent on Web Technology to Communicate Benefits to Employees
Excerpt: "[According to the 2007 Employer Survey released by United Benefit Advisors, m]ore than 70% of employers provide online network provider directories, 56% provide Web-based benefits-related forms, and 51% provide summary plan descriptions to employees on the Internet." (Wolters Kluwer Law & Business)
Congressional Panel to Look at Conflicts in Executive Compensation Consulting
Excerpt: "The chairman of the House Committee on Oversight and Government Reform has asked the largest companies in the industry for details on their client relationships and the revenues these ties have generated over the last five years." (The New York Times; free registration required)
It's Not Your Mother's Retirement: A MetLife Study of Women & Generational Differences (PDF)
36 pages. Excerpt: "By looking across several generational cohorts, the study gained insights into the differing perspectives of various generations of women about retirement. However, unlike other retirement studies that focused on women, this survey concentrated specifically on similarities and differences between mothers and their daughters." (MetLife Mature Market Institute)
Newly Posted Events
2007 HSA Half-Day Seminar
in Minnesota on June 5, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in Wisconsin on June 5, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in Minnesota on June 6, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in Wisconsin on June 6, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in Texas on June 7, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in Wisconsin on June 7, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in New Jersey on June 12, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in Massachusetts on June 13, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in Maryland on June 14, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in California on June 19, 2007
presented by BISYS Retirement Services
2007 HSA Half-Day Seminar
in California on June 20, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Introduction to Roth 401(k)s and 403(b)s
Nationwide on June 12, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Beneficiary Distributions
Nationwide on June 14, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Compliance
Nationwide on June 7, 2007
presented by BISYS Retirement Services
Relius Software Users Conference
in Florida on July 9, 2007
presented by SunGard Relius
Newly Posted Press Releases
Effect of Pension Reform on Retirement Plan Sponsorship Unclear
Watson Wyatt
Groundbreaking Proposals For Increasing Retirement Savings Released By Diverse Coalition Of Experts
Pension Rights Center
U.S. Health Care Sector Moves Rapidly to Provide Consumer Information on Value; Providers, Companies, States, and Others Join Initiative Led by HHS Secretary Leavitt
U.S. Department of Health & Human Services
Employers Shift Focus To Health Care Prevention and Incentives To Change Employee Behavior; According To Survey Results
Midwest Business Group on Health
MoneyTrack/IPT Investing Secrets Survey: Just 1 Percent OF U.S. Investors Grasp Financial Basics, Only About A Third Know More Than Half
MoneyTrack
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Client Service Manager, Retirement-Defined Contribution
for TRI-AD
in CA
Plan Implementation Manager
for BenefitStreet, Inc.
in CA
Profit Sharing and 401(k) Administrator
for Goldberg, Swedelson & Associates, Inc.
in CA
Benefits Manager
for Carilion Health System
in VA
Implementation Specialist (Enroller)
for SunGard ProNvest
in CA, GA
Retirement Specialist (Call Center/Inside Sales)
for SunGard ProNvest
in GA
Profit Sharing / 401(k) Plan Administrator
for TPA in Cleveland/Akron area
in OH
Retirement Plan Administrator/Consultant
for Noble-Davis Consulting, Inc.
in OH
401(k) Daily Valuation Plan Administrator Consultant
for Graham Management Corporation, Inc
in NY
401(k) Professional
for Pentegra Retirement Services
in NY
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
Subscribe to the BenefitsLink Health & Welfare Plans Newsletter, Too!
Sign-up form is at https://benefitslink.com/newsletter (free).
This newsletter is sent to you each workday except federal holidays.
This email has been published by:
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
David Rhett Baker, J.D., Editor
Copyright 2007 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.
Anyone can receive these emails; just have them sign up at this web page: https://benefitslink.com/newsletter/
Other useful links: