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| June 28, 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 |
Being a Good Shopper under ERISA -- Fees and Fee Disclosure Issues
Excerpt: "At this writing there are 14 lawsuits in the works nationwide against large employers claiming that, as the fiduciaries of 401(k) plans, they were ignorant about revenue sharing and, through their ignorance, allowed plan participants to pay too much in fees." (Faegre & Benson LLP)
Overview: Defendant Sponsor Wins First Round in Fee Litigation
Excerpt: "On June 21, 2007, the US District Court for the Western District of Wisconsin handed down a decision in Hecker v. Deere, dismissing participants' complaint alleging that the sponsor's 401(k) fee arrangements violated ERISA. Hecker v. Deere is part of a series of lawsuits brought against sponsors challenging 401(k) fee practices. The sponsor's success on its motion to dismiss is significant." (JPMorgan Chase & Co.)
Overview: Supreme Court to Review 401(k) Damages Case
Excerpt: "The U.S. Supreme Court on June 18, 2007 announced it will review a case involving the ERISA remedies available to 401(k) plan participants when plan administrators fail to carry out their investment instructions. LaRue v. DeWolff, Boberg & Associates, Inc., 450 F.3d 570 (4th Cir. 2006), cert. granted, 551 U.S. ____ (2007)." (Deloitte via BenefitsLink.com)
A Teacher's Story of Transferring Out of a High Fee 403(b)
Excerpt: "A high school guidance counselor from Indiana recently began the process of transferring out of two high-fee 403(b) investments and into a low-cost 403(b) investment. [The target page is] her story on this process." (bWise Guys, LLC)
Trends In Retirement Plan Audits: An Auditor's Perspective
Excerpt: "The Editor interviews Diane Wasser, Officer in Charge - Pension Services Group, Amper, Politziner & Mattia P.C." (The Metropolitan Corporate Counsel, Inc.)
International Accounting Standards Tentatively Contain Separate Definition for Cash Balance Plans
Excerpt: "[F]rom Spencer's Benefits Reports: In an explicit recognition of cash balance pension plans, the International Accounting Standards Board (IASB) has tentatively established definitions and measurement approaches for three categories of benefit promises: . . . ." (Wolters Kluwer Law & Business)
Developing a Workforce Strategy: Introducing a Three-Phased Framework
Excerpt: "Perspectives about retirement are changing as talk about 'phased' retirement has become more common, as is the practice of hiring retired workers for part-time or contract work. But the Age Wave isn't the only change underway. Offshoring, outsourcing, and telecommuting are all now commonplace, changing the way many jobs are staffed." (JPMorgan Chase & Co.)
In Can.ada, Ruling May Open Door to Transfer Defined Benefit Plan Surplus to DC Plans
Excerpt: "As a result of a recent Ontario Court of Appeal's decision, employers may have more flexibility to use defined benefit (DB) surpluses to make contributions to defined contribution (DC) components of their pension plans." (Watson Wyatt Worldwide)
Links to Items on Executive Comp, Benefits in General
Equity-based Compensation: Employee Stock Options Become Transferable
Excerpt: "[R]ecent developments suggest that it is possible to make nonqualified stock options transferable, at least for public companies, and that there may be good reasons to do so." (Faegre & Benson LLP)
Changing Strategies in HR Technology and Outsourcing - 2007 HR Technology Trends Survey
Excerpt: "Watson Wyatt's 2007 HR Technology Trends Survey finds that companies are turning to technology to give employees access to pertinent information and tools. From portals to software solutions to call centers, HR technologies are providing a bridge to the information that employees need to understand their changing workplace." (Watson Wyatt Worldwide)
Newly Posted Events
Voluntary Fiduciary Correction Program (VFCP) - Workshop
in Hawaii on July 9, 2007
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Newly Posted Press Releases
Report on FMLA Request for Information Issued by U.S. Department of Labor
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
SHRM Urges Swift Action to Restore Fairness to Family and Medical Leave Act
Society for Human Resource Management (SHRM)
National Coalition to Protect Family Leave Calls for Greater Clarity and Fairness in Leave Law
National Coalition to Protect Family Leave
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Second Vice President Defined Contribution Administration
for New York Life Retirement Plans Services
in MA
Benefits Administrator
for Daiichi Sankyo, Inc.
in NJ
ERISA Attorney
for Medium-sized Regional New York Law Firm
in NY
DailyAccess Corp., Manager of Daily Operations
for DailyAccess Corp., Mobile, AL
in AL
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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