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| May 16, 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 |
ACLI Tries To Put Annuities on Labor Default Investment List
Excerpt: "Life insurers are asking the Bush administration to step in and delay implementation if a final U.S. Department of Labor rule rejects the use of annuities and guaranteed investment contracts as default investments in 401(k) plans." (The National Underwriter Company; free registration or paid subscription required)
Get Ready for New DOL Fee-Transparency Rules
Excerpt: "Although the new regulations aren't yet available, employers and plan sponsors should prepare now for increased scrutiny and disclosure of fees involved in 401(k) and other defined-contribution plans." (Human Resource Executive Online; free registration required)
Opinion: The Reasonableness of Fees and Expenses in 401(k) Plans
Excerpt: "ERISA requires, in both its fiduciary rules and its prohibited transaction restrictions, that fiduciaries pay no more than reasonable expenses from plan assets. That rule seems simple enough. However, the requirement that fees be reasonable is sometimes misunderstood." (PLANSPONSOR.com; free registration required)
Opinion: Are Employers Paying Too Much for Administration/Communication/Management of 401(k) Plans
Excerpt: "Concerns about excessive 401(k) fees have generated lawsuits and congressional hearings. HR executives should ensure they fully understand their obligations as fiduciaries. If not, they could face litigation and possibly hamper their organizations' employees ability to retire." (Human Resource Executive Online; free registration required)
Fees Take Huge Toll on 403(b) Plans
Excerpt: "You may have read news stories about excessive 401(k) plan fees lately, but less well-known are the pitfalls of 403(b) plans, the retirement savings vehicles for America's teachers and people who work in the nonprofit sector." (Bankrate.com)
How to Avoid 403(b) Pitfalls
Excerpt: "What can you do to maximize your 403(b) today? Your first duty: Read the fine print. When a 403(b) provider makes his or her pitch, look at the prospectus and ask questions. Make a list of the fees charged, review performance history and compare these to your other choices." (Bankrate.com)
Delphi/IRS Agreement Covers Pension Payment Deferrals
Excerpt: "As part of a new agreement with the Internal Revenue Service (IRS), struggling auto parts supplier Delphi Corp. is now able to transfer some of its pension liabilities to its former parent, General Motors Corp." (PLANSPONSOR.com; free registration required)
Correction of May 3, 2007, Article on the Use the New Nonspouse Beneficiary Rollover Rules
Excerpt: "Marjorie Hoffman confirmed today, that the special rule which permits a beneficiary in a plan with only the five-year rule to nonetheless choose the life expectancy method of distribution once the funds are directly rolled into the inherited IRA [Notice 2007-7 Q&A 17(c)] is what she had actually stated was not available for beneficiaries of participants who died before 2006." (McKay Hochman Co., Inc.)
Employee Ownership Update for May 15, 2007
NCEO Executive Director Corey Rosen discusses a successful Employee Stock Option Appreciation Rights Securities (ESOARS) auction; new data on ESOP persistence over time; data showing that employee turnover has changed little in the past 25 years; a correction to an ESOP diversification example in the NCEO's last newsletter; a quick survey on employee attitudes toward ESOPs for NCEO members; and a special Webinar with Jack Stack on A Stake in the Outcome on June 18. (The National Center for Employee Ownership)
UPS and Teamsters Considering Joint Pension Plan
Excerpt: "The current proposal would create a plan jointly administered by UPS and the International Brotherhood of Teamsters with an equal number of Teamster-appointed and company trustees." (Pensions & Investments via Workforce Management; free registration required)
RadioShack Slapped with Company Stock Fiduciary Breach Lawsuit
Excerpt: "Electronics retailer RadioShack has been hit with an Employee Retirement Income Security Act (ERISA) fiduciary breach lawsuit for having too much company stock in its retirement plans even when that was no longer prudent." (PLANSPONSOR.com; free registration required)
Sponsored by: SunGard Relius
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| SunGard Document Management Services (DMS) |
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Rely on our resources as your complete back office partner for new plan documents, amendments, and EGTRRA restatements. If you have 500 or more retirement plan documents, turn to our expert staff to outsource some or all of the processes maintained in-house. Let us focus on your plan documents, so you can focus on growing your business. |
| (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 Accounting Standard Provides Greater Flexibility for Informally Funded Nonqualified Plans (PDF)
2 pages. Excerpt: "A new accounting standard, FAS 159 The Fair Value Option for Financial Assets and Financial Liabilities, provides an intriguing opportunity to sponsors wishing to informally fund their nonqualified retirement programs. For fiscal years beginning after November 15, 2007, companies have the option to account for certain financial instruments at fair value and report in earnings the unrealized gains and losses on securities for which the company has elected . . . ." (Buck Consultants)
Presentation: Final 409A Regulations: An Overview (PDF)
28 pages. (Morgan, Lewis & Bockius LLP)
GASB 45 Requires Gov'ts to Account for Expenses As Benefits Accrue for Current Employees
Excerpt: "For some, the downside numbers will be staggeringly high. Thus, if the government agencies that must comply with the standard don't figure out how to address their unfunded liabilities soon, they could lose their investors' confidence." (CFO.com)
The ERISA Industry Committee Chart on Employee Benefits and Compensation Regulatory Schedule (PDF)
16 pages. Excerpt: "[Following the Federal Register release of] semi-annual regulatory agendas for various government agencies, ERIC has prepared a detailed schedule to assist in monitoring releases on upcoming guidance concerning employee benefits. . . . ERIC's chart includes the Department of Treasury/Internal Revenue Service, Pension Benefit Guaranty Corporation, Department of Labor/Employee Benefits Security Administration, Social Security Administration, and Securities Exchange Commission." (The ERISA Industry Committee)
International Headlines: Developments in Benefits, Compensation, & HR Around the World, May 10, 2007
Excerpt: "This weekly compilation of stories from wire services, newspapers, and other sources is intended to keep Mercer employees and registered visitors to mercerHR.com informed of benefits, compensation, and HR developments around the world." (Mercer Human Resource Consulting LLC and Mercer Investment Consulting, Inc.; free registration required)
Newly Posted Events
401(k) Plan Workshop
Nationwide on May 18, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Ohio on May 31, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Virginia on May 31, 2007
presented by SunGard Relius
Form 5500 Workshop
in Virginia on May 30, 2007
presented by SunGard Relius
Form 5500 Workshop
in Ohio on May 30, 2007
presented by SunGard Relius
Fundamentals of 401(k) and Other Qualified Plans
in Texas on June 6, 2007
presented by SunGard Relius
Fundamentals of 401(k) and Other Qualified Plans
in Washington on June 13, 2007
presented by SunGard Relius
Fundamentals of 401(k) and Other Qualified Plans
in Georgia on June 13, 2007
presented by SunGard Relius
New DC-1 Webcourse from ASPPA- Corporate Registration Discounts Also Available
Nationwide on May 16, 2007
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Pension Basics: Cash Balance Plans
Nationwide on May 22, 2007
presented by AccuDraft, Inc.
Newly Posted Press Releases
Towers Perrin Unveils First Truly PBM-Independent Formulary System at 2007 Rx Collaborative Annual Meeting
Towers Perrin
Milliman Says 2007 Medical Cost for 'American Family of Four' is $14,500; Annual Study Measures Change in Average Family Medical Spending Over a 5 Year Period
Milliman USA
Newkirk Announces Let's Talk Money Newsletter Acquisition
Newkirk Products, Inc.
ftwilliam.com Announces Document Updates To Include The New Massachusetts Cafeteria Plan Requirements
ftwilliam.com
Travis Software Offers Ways for Employers to Manage Rising Postal Rates
Travis Software Corp.
National Survey Finds Majority of Micro-Business Owners and Employees Unprepared for Retirement
National Association for the Self-Employed (NASE)
Corporate Chiefs, Public Policy Leaders Propose New Direction in Savings Policy: Aspen Institute, CEOs Unveil "Cradle to Grave" Approach to U.S. Savings Crisis
Aspen Institute
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Actuarial Analyst II
for BB&T Corporation
in SC
Pension Administrator
for Highly Respected Independent Pension Consulting Firm
in CA
Benefits Administrator (50,000 - 60,000K)
for Eisner Retirement Solutions
in NY
Defined Contributions Sr Analyst
for Affiliated Computer Services
in MA
Pension Plan Administrator
for JADE Plan Services
in TX
Retirement Plan Manager
for The Capital Group Companies
in VA
Senior Manager, Retirement Plans
for The Capital Group Companies
in VA
Plan Administrator
for Alliance Pension Consultants, LLC
in IL
401(k)/Executive Compensation Consultant
for Investech Retirement Plan Services
in FL
Sales Consultant--Retirement Benefits
for Diversified Investment Advisors
in TX
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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