BenefitsLink |   |
| June 8, 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 |
'Funding Reform Advisory Task Force' Web Site Contains Comments on New PPA '06 Rules
Excerpt: "The FRAT Force consists of actuaries, lawyers, and other employee benefit professionals who have gotten together to analyze the new law and make suggestions to the government agencies that will issue guidance.' Topics on which the group has commented include Average Value of Assets Methods, Benefit Restriction Triggers, Corporate Bond Yield Curve/Segment Rates, Lookback Funding Measures, Single Employer Plans Deduction Limit, and Technical Corrections. (Funding Reform Advisory Task Force (FRAT Force))
Avoid This 401(k) Auto-Enrollment Investment Mistake
Excerpt: "Stable-value funds shouldn't be default investment options. If auto-enrollment is supposed to save investors from themselves, putting their money into an option better suited to shorter-term investing does them no favors." (The Motley Fool)
Cashed-Out Participants Still Have ERISA Legal Standing
Excerpt: "In a ruling described as the first of its kind by a federal appellate court, federal appellate judges have ruled that employees did not necessarily give up their rights to file a fiduciary breach suit when they retired and took a full defined contribution plan distribution." (PLANSPONSOR.com; free registration required)
Springfield, MO Officials Ponder Pension Funding Fix
Excerpt: "Officials earmarked more money this week to boost the underfunded pension plan for police officers and firefighters, but a permanent revenue source is still needed to solve the shortfall problem, officials said." (Springfield News-Leader)
Congress to Look Into NFL Pension Plan Dispute
Excerpt: "Congress will hear testimony June 26 from retired NFL players who contend the league and union's pension plan is insufficient, especially for disabled ex-players." (WFAA-TV)
Bill Would Ease Federal Pension Credit Rules
Excerpt: "In hopes of luring erstwhile feds back into public service, Rep. James P. Moran Jr. (D-Va.) has introduced a bill that would permit former government workers to recoup their pension credits when returning to federal employment." (The Washington Post; free registration required)
Charts: State Divestment Legislation
Excerpt: "Growing concern over genocide in Sudan and countries that sponsor terrorism has prompted state legislatures to consider actions to limit or eliminate state investments in firms doing business with such countries. . . . The . . . charts summarize select enacted legislation from 2005 and 2006 and bills introduced in the 2007 session." (National Conference of State Legislatures)
Ohio State Pension Systems to Adopt Policies to End Investments
Excerpt: "The state's five public employee pension systems will adopt policies aimed at dropping shares of companies that do business in Iran and Sudan, the systems said [yesterday]." (AP via The E.W. Scripps Co)
TIPRA and the Roth IRA: New Planning Opportunity for High-Income Taxpayers
Excerpt: "The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA; P.L. 109-222) eliminated the $100,000 modified adjusted gross income (AGI) limit that currently exists when a taxpayer converts a traditional IRA to a Roth IRA. The removal of the modified AGI limit takes effect in 2010." (The New York State Society of CPAs)
Morningstar to Solicit Interest for Formation of Pension Database
Excerpt: "Morningstar is now asking representatives from the broader pension plan, endowment and foundation community to fill out an online form to indicate their willingness and ability to provide performance, expense and portfolio holdings data on a monthly basis." (Cypen & Cypen)
Small Business Owners and Employees Are Not Prepared for Retirement, Survey Shows
Excerpt: "A national survey recently released by The National Association for the Self-Employed (NASE) shows that a large majority of owners and employees of America's micro-businesses do not have access to retirement plans and are financially unprepared for retirement." (Wolters Kluwer Law & Business)
Sponsored by: Cassidy Retirement Group
(Click on company name or banner to learn more.)
| Just published "A Manager's Guide to Strategic Retirement Plan Management"! |
| Daniel Cassidy, President of Cassidy Retirement Group, has written a detailed, comprehensive guide for managers to understand and succeed at the ongoing process of managing a company's retirement plan. If motivating your employees is important to you as a manager, this book is an essential key to your success. The book is available now through BenefitsLink Bookstore. |
| (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
Fiduciaries' Attorney Malpractice Claims Are Not Preempted by ERISA
Excerpt: "Since the plaintiffs' liability to the ESOP participants arose under ERISA, an initial issue was presented as to whether the plaintiffs' claim for indemnification should be determined by reference to Federal or New York law. The question was more than just academic . . . ." (Health Plan Law blog by Attorney Roy F. Harmon III)
Overview: Final Treasury Regulations on 409A NQDC Rules
Excerpt: "The final regulations generally take effect January 1, 2008. Notice 2006-79, which extended existing transition relief for NQDC arrangements under section 409A, continues to apply to periods before then and essentially requires good-faith compliance with either the proposed or the final regulations." (Watson Wyatt Worldwide)
Overview: 'Covered Employees' for Purposes of $1 Million Limitation on Deducting Executive Comp
Excerpt: "This week the IRS issued guidance on identifying 'covered employees' for purposes of Section 162(m) of the Internal Revenue Code in response to the SEC's recent amendments to its executive compensation disclosure rules. This Update summarizes the key highlights from this IRS guidance and offers practical advice." (Perkins Coie LLP)
Overview: Only Four Employees Now Subject to Section 162(m); CFO No Longer Included (PDF)
Excerpt: "To reflect recent changes to SEC executive compensation disclosure rules, the IRS issued Notice 2007-49 on June 4, 2007, to provide interpretative guidance on the definition of 'covered employee' under Section 162(m) of the Internal Revenue Code." (Frederic W. Cook & Co., Inc.)
Newly Posted Events
HIPAA and Health Laws Compliance Assistance Seminar
in Indiana on June 26, 2007
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Newly Posted Press Releases
Allied Pilots Association Supports U.S. Senators' Request for Explanation of Pension Funding Relief
Allied Pilots Association (APA)
ShareBuilder Launches the '1% Goal' to Combat Excessive 401(k) Fees and Help Small Businesses Save
ShareBuilder
NAPFA, fi360, and CEFEX Launch 'Fiduciary Adviser' Training Module: Program designed to train Fee-Only advisors on fiduciary standard outlined in the PPA
National Association of Personal Financial Advisors (NAPFA)
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Defined Contribution Client Account Manager
for New York Life Investment Management - Retirement Plans Services
in MA
Retirement Plan Specialist
for SVA Retirement Plan Services, LLC
in WI
Actuarial Analyst
for Fidelity Investments
in IL, MA
Compensation Manager
for Toyota Financial Services
in CA
Compensation Consultant/Program Manager
for Hewitt Associates
in IL
Consulting Attorney
for Towers Perrin
in NY
Defined Contributions Analyst
for Affiliated Computer Services
in NJ
401k Administrator
for Vanguard
in PA
Defined Contribution Client Account Manager
for New York Life Retirement Plan Services
in MA
Defined Benefit Client Account Manager
for New York Life Retirement Plan Services
in MA
Tax Senior: Comp & Benefits - Global Enterprise Services
for Deloitte, LLP - Washington National, Tax Practice
in ANY STATE, DC
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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