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| June 13, 2007 |
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Text of Rev. Proc. 2007-44: New Procedures for Remedial Amendments to Retirement Plans (PDF)
48 pages. Supercedes Rev. Proc. 2005-66. Applies to individually-designed plans and pre-approved plans (M&P and volume submitter plans). Excerpt: "The revenue procedure contains more detail on the plan qualification requirements the Service will consider . . . . Special rules apply with respect to the Service's review of plans for amendments to reflect the Pension Protection Act of 2006 (PPA '06) and the procedures to submit those amendments." (Internal Revenue Service)
Federal Employee Groups Back Automatic TSP Enrollment and New Default Fund
Excerpt: "A federal Thrift Savings Plan advisory panel decided [yesterday] to back legislation allowing for automatic employee enrollment in the plan and to change the default fund for indecisive investors." (GovExec.com)
The Thrift Savings Plan - The Government 401(k) - Creates, Protects Millionaires
Excerpt: "The names of the fabulous 40 millionaires are secret. Many are thought to be federal judges who were wealthy lawyers before turning to public service. But all have one thing in common: They love the federal 401(k) plan." (The Washington Times)
Post-Retirement Money Management
Excerpt: "401(k) plan sponsors are going beyond just helping employees save enough for retirement. They're also helping employees who are about to retire figure out how to manage their income when their working days are over." (Workforce Management; free registration required)
A Retirement Mistake Boomers Should Avoid - Taking Early Social Security Benefits
Excerpt: "[Y]our break-even age is actually later when you factor in the investment value of your early benefits. Even if you don't invest those early benefits directly, taking them might mean you can leave other savings to keep growing. That could add three to five years to your break-even point, Gebhardtsbauer estimated." (CNN.Money)
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Links to Items on Executive Comp, Benefits in General
Opinion: A New Benefit Platform for Life Security (PDF)
62 pages. Excerpt: "Employer programs alone cannot satisfy the life security needs of American workers in today's highly competitive business environment. At the same time, turning to government programs that are themselves under financial stress or relying too heavily on individuals to pick up the slack is likely to prove unsatisfactory." (The ERISA Industry Committee)
Major Employers Introduce Platform for New Option for Health and Retirement Security
Excerpt: "The ERISA Industry Committee (ERIC), an association representing America's largest employers, introduced its 'New Benefit Platform for Life Security' report today at a Washington, DC briefing. The platform provides guiding principles and a new approach to complement the current voluntary employee benefit system." (Earthtimes.org)
Pension Benefits Accrue Handsomely for the Guys at the Top of S&P 500 Companies, One Study Finds
Excerpt: "The world of corporate pensions may be shrinking, but it's still fairly robust at S&P 500 companies. And that's true for no one more so than the current crop of the companies' already highly paid CEOs, who have accrued retirement benefits worth over $2 billion today, according to a report released Monday." (CNN.Money)
Investors Reluctant to Tackle Corporate Executive Pay
Excerpt: "Despite years of outrage over soaring executive pay, shareholder activists still find it tough to persuade many investors to cast even symbolic votes against management on compensation issues." (Los Angeles Times; free registration required)
Big Company CEOs Fare Best with Pensions
Excerpt: "New research from The Corporate Library reveals that corporate defined benefit pensions are disappearing for all but the CEOs of the largest companies." (PLANSPONSOR.com; free registration required)
Perks Round Out Executive Pay Packages
Excerpt: "Even as CEO pay has increased, their perquisites, from personal flights on the corporate jet or yacht, to cars and drivers, to country-club fees and home alarm systems, have persisted. The perks mean free stuff for a crowd that could afford to pay its own way." (AP via South Florida Sun-Sentinel)
Options Most Valuable Item in Executives' Goodie Bags
Excerpt: "Bay Area companies are using a variety of stock grant plans as their preferred way to reward executives for current performance -- or prod the top bosses to reach new heights of excellence, according to a MediaNews review of regulatory filings by public companies in the Bay Area." (Inside Bay Area)
Country Club Dues, Private Jet, Company Car, for Some Executives It's Not Just the Paycheck
Excerpt: "Perks, such as jet use and country club memberships, are drawing increased scrutiny. So are so-called related-party transactions, deals companies do with executives, board members or their relatives." (South Florida Sun-Sentinel)
Newly Posted Press Releases
CPI Qualified Plan Consultants Adds Wells Real Estate Funds
CPI Qualified Plan Consultants, Inc.
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
ERISA Attorney
for O'Neil, Cannon, Hollman, DeJong S.C.
in WI
Senior Pension Analyst
for Boyce & Associates, Inc.
in AZ
Benefits / Actuarial Analyst
for Retirement Consulting Actuaries
in GA
Pension Administrator
for Hackler Associates, Inc.
in MA
SEBS - Senior Pension Analyst
for Paychex, Inc.
in NC
Client Service Manager
for Fidelity Investments
in TX
Institutional Trust Sales Officer-New Business
for BB&T
in DC, VA
Client Service Manager
for Fidelity Retirement Services
in TX
Pension Software Business Analyst
for Levi, Ray & Shoup, Inc.
in IL
Director, Employee Benefits
for Raley's
in CA
Regional Marketing Director
for AIG SunAmerica
in IL, MO, TX
Health & Welfare Analyst (consultant)
for Constantin Control Associates
in NJ
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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