BenefitsLink |   |
| June 19, 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 |
Industries Battle Over 401(k) Risk: Insurers Back Stable Value As Mutual Funds Pitch Growth
Excerpt: "The idea seemed simple enough: Make it easier for companies to automatically enroll workers in 401(k) plans and other retirement vehicles. But the effort to turn that idea into federal policy has set off a high-stakes dispute between the insurance industry and mutual funds over where to steer billions of dollars in future investments." (Los Angeles Times; free registration required)
Supreme Court Denied Review in the ERISA Inalienability Case of Cox V. Daimlerchrysler
Excerpt: "In Cox, SCOTUSBlog commented that the issue was whether: it violates ERISA for a state to arrange to take 90 percent of a prison inmate's pension benefits to help defray the costs of imprisonment. The Solicitor General, asked by the Court for the government's views, had urged the Court to bypass the appeal by Michigan's state attorney general, Mike Cox." (Workplace Prof Blog)
DOL Asks for Comments Regarding Plan Loans to Parties in Interest
Excerpt: "The U.S. Department of Labor (DOL) is seeking comment regarding its information collection procedures in cases of retirement plan loans made to participants and beneficiaries who may be considered parties in interest to the plan." (PLANSPONSOR.com; free registration required)
Overview: New IRS Regulations on Retirement Age
Excerpt: "The final regulations, which were published in late May and imposed immediately, effectively end an innovative but controversial design used by some cash-balance plan sponsors that paid participants smaller benefits than those to which IRS regulators said participants were entitled." (Workforce Management; free registration required)
Retirement Issues Remain on Legislative Agenda
Excerpt: "After the drawn-out and arduous pension reform debate preceding enactment of the Pension Protection Act (PPA) last summer, Congress is unlikely to pursue new pension legislation this year. However, lawmakers are discussing a variety of retirement issues. Some of those discussions relate to technical corrections to the PPA, while others focus on enhancing workers' retirement security. Fees in 401(k) plans are also attracting considerable attention." (Watson Wyatt Worldwide)
Overview: IRS Updates System of Cyclical Remedial Amendment Periods for Qualified Retirement Plans
Excerpt: "EBIA Comment: Like its predecessor, this revenue procedure provides detailed rules for determining a plan's remedial amendment cycle, but it includes more examples illustrating the more complex determinations." (Employee Benefits Institute of America Inc.)
Advisory Opinion 2007-03A on behalf of the Governor and Company of the Bank of Ireland
Excerpt: "Whether a U.S. branch of a foreign bank qualifies as a 'bank or trust company' for purposes of exemptions provided under ERISA section 408(b)(8) and PTE 91-38." (U.S. Employee Benefits Security Administration)
Sponsored by: ASC & The ASC Institute
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| Introducing Silver Support |
| Through ASCi's Document system, you can now ask experienced ERISA experts technical ERISA questions -- and get a response within a day. When regulatory questions come up in your day-to-day retirement plan practice you'll have ready access to the answers you need, providing valuable assistance to your practice and clients. For a small monthly fee, you can email the ASCi Consulting Team lead by Charles Lockwood, J.D., LL.M. and John Griffin, J.D., LL.M. and receive a quick response.
Sign up today! Simply download and complete the ASCi Silver Consulting Service Agreement and return to: ASCi, Attn: Silver Consulting Service, 18321 Ventura Boulevard, Suite 660, Tarzana, CA 91356. |
| (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
Supreme Court Agrees to Hear Argument in Fiduciary Duty Breach Damages Case
Excerpt: "Since the case involves issues under both Section 502(a)(2) and 502(a)(3), it could be another watershed case in the development of ERISA remedies caselaw." (Health Plan Law blog by Attorney Roy F. Harmon III)
(Popular Press) Supreme Court Agrees to Hear Argument in Fiduciary Duty Breach Damages Case
Excerpt: "James LaRue says there is $150,000 less in his retirement fund than there should be. And according to a federal lawsuit, he blames administrators at his workplace, DeWolff, Boberg and Associates Inc., for that because they did not, he says, invest the money where he wanted." (The Post and Courier)
Eligibility Exclusion Based on Plan Sponsor's Classification of Workers Upheld
Excerpt: "EBIA Comment: As with all plan terms, but especially those involving eligibility, the plan document must include clear language to effectively implement the plan sponsor's intent. Plan sponsors should routinely review plan language to ensure that it continues to reflect their intent in light of changing practices -- for example, by adding or excluding a class of workers not originally envisioned when the language was first drafted." (Employee Benefits Institute of America Inc.)
A Brief Review of Employee Benefits Developments, June 2007
Excerpt: "A brief look at developments in Employee Benefits law from May and June 2007, including cases, rulings, and opinions." (Hodgson Russ LLP)
Metlife's Benchmarking Report Helps Employers Compare Benefits Practices with Competitors
Excerpt: "[F]rom Spencer's Benefits Reports: Employee retention was the most important benefits objective identified by more than half (55%) of employers overall, according to MetLife's annual Employee Benefits Benchmarking Report." (Wolters Kluwer Law & Business)
Newly Posted Events
Fundamentals of 401(k) and Other Qualified Plans
in Colorado on July 11, 2007
presented by SunGard Relius
Section 409A: Employment Lawyers' Guide to Understanding the Final Regulations, Including Executive Employment Agreements - Webcast
Nationwide on June 19, 2007
presented by ALI-ABA (American Law Institute-American Bar Association)
Newly Posted Press Releases
Watson Wyatt Data Services Releases 2007/2008 Survey Report on Employee Benefits
Watson Wyatt
Qualified Plan Forms -- New Book from ALI-ABA
ALI-ABA (American Law Institute-American Bar Association)
ETF Giant Launches 401(k) Plan Invasion
BenefitStreet, Inc.
Goldowitz, Finke And Morris Lead Litigation Practice At PBGC
Pension Benefit Guaranty Corporation (PBGC)
Sentinel Benefits Appoints Adam Pozek Vice President, Consulting Services
Sentinel Benefits
U.S. Labor Department Obtains Judgment Seeking Restoration of More Than $50,000 for Participants of Phoenix 401(k) Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Sues to Appoint Independent Fiduciary For 401(k) Plan Abandoned by New York City Company
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
New Leadership Announced For ABA's Council On Retirement And Employee Benefits
American Bankers Association
CPI Qualified Plan Consultants, Inc. Announces Enhancements to Participant Internet Site
CPI Qualified Plan Consultants, Inc.
Employee Benefits Institute of America Acquired by Thomson Tax & Accounting
Thomson
First Mercantile and Scott & Stringfellow Co-Brand Small Business Retirement Product
First Mercantile
Brasseler USA Sees Employee Contribution Increase With Retirement Income Report Tool
Synapses Inc.
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
401k Conversion Implementation Project Manager
for Fidelity Investments
in KY, MA, TX
Relationship Manager - Defined Contribution Plans
for Vanguard
in AZ
Defined Benefit Calculation Developer
for Vanguard
in PA
Retirement Compliance Testing Manager
for Vanguard
in PA
Pension Administrator
for Valley Forge Consulting Corporation
in PA
Benefits Consultant
for Northwestern Benefit Corporation of Georgia
in GA
Quality Assurance Analyst
for Leading Financial Services Software Vendor
in NY
Client Service Representative
for Leading Financial Services Software Vendor
in NY
Senior Plan Consultant-Conversion Specialist
for ABG-MA, a BenefitStreet co.
in PA
NQDC Product Specialist
for Merrill Lynch
in NJ
Defined Contribution Administrator
for Gary Mann & Associates, Inc.
in IL
Insurance Policy & Compliance Analyst
for Office of the Insurance Commissioner - Washington State
in WA
Manager, Retirement Programs
for Avon Products, Inc.
in NY
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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