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May 22, 2007
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Sponsored by: ASPPA and WP&BC

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Banner ad for ASPPA and WP&BC

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

Three Branches of Government Zeroing in on the Fees that 401(k)-Plan Participants Pay
Excerpt: "The judicial branch is the most active thus far, with at least 14 lawsuits pending against such companies as Lockheed Martin, International Paper, and Kraft Global alleging that plan participants were not adequately informed about 401(k) fees." (CFO.com)

As 403(b)s Look More Like 401(k)s, Investors Should Consider Their Options
Excerpt: "Thanks to increased IRS scrutiny, major changes are likely coming soon to 403(b) plans. That's good and bad news for the teachers, health-care workers and other non-profit employees who invest in such retirement plans." (MarketWatch.com)

NASRA Position on Accounting Issues (PDF)
2 pages. Excerpt: "Unlike the private sector, government's long-term nature and its ability to generate a reliable revenue stream virtually eliminate the possibility of involuntary asset liquidation. This long-term focus enables government-sponsored pension plans to promise and to fund benefits over very long periods. The long-term nature of pension benefits requires that public pension funds be able to manage and invest assets with a long time horizon." (National Association of State Retirement Administrators)

IRS Final Regs: Distributions from Pension Plans Upon Attainment of Normal Retirement Age (PDF)
4 pages; typeset version from Federal Register of May 22, 2007. (Internal Revenue Service)

Chamber Comments on QDRO Regulations: Interim Final Rule Relating to Time and Order of Issuance (PDF)
2 pages. (U.S. Chamber of Commerce)

Overview of the Provision of Investment Advice
Excerpt: "The PPA expands the spectrum of those who can provide that advice, via a prohibited-transaction exemption under ERISA and the Internal Revenue Code." (PLANSPONSOR.com; free registration required)

The Role of the Independent Fiduciary
6 pages. Excerpt: "This article offers a brief survey of the role of the independent fiduciary, including background principles, common situations where an independent fiduciary is either legally required or advisable, the duties of an independent fiduciary and some practical pointers regarding what to expect when employing such a fiduciary. [Originally published May 2006.]" (Samuel W. Halpern, Independent Fiduciary Services via Pension Governance, LLC)

In Australia, Tax Burden for Excess Pension Contributions Shifts to Employees
Excerpt: "As of July 1, 2007, employers will no longer face a limit on the superannuation contributions they can deduct from income taxes. Instead, individuals will pay higher tax on excess concessional contributions." (Watson Wyatt Worldwide)

'Come for the Mission, Stay for the Pension,' Quips the Chief Executive of the YMCA Retirement Fund
Excerpt: "As Preis points out, there is good reason to stay -- after 32 years of service, a YMCA official can retire on upward of 80% of his or her final salary. By any standards, that's impressive; by the brutal mathematics of today's retirement paradigm, it's exceptional." (PLANSPONSOR.com; free registration required)

Working Paper: The Performance of U.S. Pension Funds
Excerpt: "We document the net equity performance of US defined benefit and defined contribution schemes at plan level, using a unique and comprehensive database. Pension fund performance is measured taking into account fund-specific benchmarks and multiple cost components." (Social Science Research Network)

Gallup Poll Shows Americans Fretting About Retirement
Excerpt: "Middle-aged Americans (35- to 64-years-old) fret the most about saving for retirement, paying medical bills, and maintaining their standard of living, according to a Gallup news release." (PLANSPONSOR.com; free registration required)


Sponsored by: SunGard Relius

(Click on company name or banner to learn more.)
Banner ad for SunGard Relius

Relius Administration Retirement Plan Recordkeeping Software

Software for daily-valued and balance-forward retirement plan recordkeeping used in more than 1,000 pension businesses. Relius Administration offers Plan Sponsor and Participant Web access, straight-through processing for automated trading, payroll and transaction processing, compliance testing and reporting capabilities for DB/DC/401(k) plans -- as well as support for cafeteria /125 plans. Offered as an installed or hosted (ASP) application, Relius Administration is supported by more than 300 professionals and is backed by the financial strength of SunGard.

Contact us: 800-326-7235, ext. 1100 E-mail: reliusinfo@relius.net


(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

Solicitor General Supports Petitioner's Position in LaRue v. DeWolff, Boberg & Associates, Inc
Excerpt: "The Fourth Circuit decision in LaRue v. DeWolff, Boberg & Associates, Inc., 450 F.3d 570 (4th Cir.2006) involves issues of relief under both Section 502(a)(2) and 502(a)(3). As to the Section 502(a)(2), the question is one of whether a participant in a defined contribution plan can seek individualized relief as a proxy for the plan as required by that provision." (Health Plan Law blog by Attorney Roy F. Harmon III)

Chicago Transit Authority Would Reform Retirement and Health Insurance Plans
Excerpt: "CTA officials uncorked proposals Monday to save an estimated $32 million a year by requiring transit agency employees and retirees to pay more toward pensions and health insurance." (Chicago Tribune; free registration required)

Selecting the Right Employee Self-Service System
Excerpt: "Use of employee self-service continues to grow. Towers Perrin reported that at least 80% of companies were expected to use self-service in 2006 to help employees enroll in annual benefits, view benefit plans and policies, access wellness information, view 401(k) balances, change personal data, view pay stubs and view job postings." (Employee Benefit News)

Public Company Update: SEC Director Comments on Latest Executive Compensation Disclosures (PDF)
3 pages. Excerpt: "The Director of the SEC's Division of Corporation Finance, John White, recently provided a preview of the areas that are under particular scrutiny, as the SEC's Staff reviews the first wave of proxy statements filed under the new executive compensation disclosure rules." (Pillsbury Winthrop Shaw Pittman LLP)

Chapter on Severance: From Individual Agreements to Broad-Based Plans (PDF)
12 pages. Excerpt: "The design and operation of severance-related plans, policies, programs and agreements involve complex corporate, tax and securities issues. When poorly designed or administered, they expose an employer to risks ranging from litigation to embarrassing disclosures in proxy statements for U.S. public companies. Careful attention enables arrangements of this kind to achieve goals ranging from retaining key employees to protecting the employer from their flight to a competitor." (Human Resources 2007 via Paul, Hastings, Janofsky & Walker LLP)

Chamber Comments on DOE Contractor Employee Pension & Medical Benefits Challenge (PDF)
3 pages. (U.S. Chamber of Commerce)

Opinion: Horror Flick at USA Today: Return of the Granny Bashers XCIV
Excerpt: "USA Today decided to get its entry in the summer horror flicks out early, The Return of the Granny Bashers XCIV tells readers how the affluent elderly are ripping off their children and grandchildren by collecting Social Security and Medicare (ahhhhhhhhhhhhhhhhh!)." (The American Prospect)


Newly Posted Events

Final Roth Regulations
Nationwide on May 31, 2007
presented by Convergent Retirement Plan Solutions, LLC


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401(k) / DC Administrator
for Columbia Benefits Consultants, Inc.
in MD

Pension Administrator
for The Senex Group
in CA

Consultant
for Kravitz - Louis Kravitz & Associates
in CA

Plan Consultant Opportunity
for Weaver Partners, Inc.
in ANY STATE

401(k) Administrator
for The Pension Group, Inc.
in CA

Actuarial Asst
for Standard Insurance Company
in OR

Retirement Sales Consultant
for Standard Insurance Company
in WA

Senior Retirement Plan Consultant
for Standard Insurance Company
in OR

Retirement Sales Consultant
for Standard Insurance Company
in MI

Assistant Actuary
for Standard Insurance Company
in OR

Manager - Regional Client Services
for Standard Insurance Company
in CA

Account Manager-Retirement Plans
for Standard Insurance Company
in OR

Assistant Director - Provider Relations
for 1199SEIU Benefit and Pension Funds
in NY

Institutional Sales Executive
for AMERICAN Financial Search, LLC
in ANY STATE, AL, FL, GA, IN, MO, TX

Compliance Specialist - Defined Benefits
for MassMutual Financial Group
in MA

Retirement Plan Consultant
for Horan Securities, Inc.
in OH

Sr. Compliance Analyst
for T. Rowe Price
in CO

Benefits Manager
for Live Nation
in CA

Sr. Manager, Benefits
for Convergys Corporation
in DE, FL

Employee Benefits Account Manager
for L/B/W Insurance & Financial Services, Inc.
in CA




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