BenefitsLink |   |
| July 12, 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 |
'Auto-Enroll' Retirement Plans Take Off
Excerpt: "Next year, more workers will find that their companies are automatically enrolling them in the company retirement plan, deducting money from their paychecks. Workers who don't choose investments will increasingly find their money shuttled to a so-called lifecycle or target-date fund, in which the investment mix automatically changes over time." (The Wall Street Journal Online via National Center for Policy Analysis)
Court Allows 403(b) Bankrup.tcy Exclusion
Excerpt: "A U.S. Bankrup.tcy Court judge has ruled that a bankrupt couple could keep the wife's 403(b) assets out of their bankrup.tcy estate." (PLANSPONSOR.com; free registration required)
Overview: GASB Adjusts Reporting on Pension Funds
Excerpt: "Pension fund disclosures will soon look more like those of other post-employment benefits under a new statement issued by the Governmental Accounting Standards Board. Statement 50, Pension Disclosures, amends Statement 25, on reporting on defined-benefit pension plans, and Statement 27, on accounting for pensions by governmental employers." (Pension Governance, LLC)
More Employers Doing Away with Pensions, Study Finds
Excerpt: "'This is a watershed event,' said Jack VanDerhei, a Temple University pension specialist. 'There has been a steady decline in traditional pensions for two decades, but the trend is really accelerating, and it's going to accelerate even more.'" (Los Angeles Times; free registration required)
Rollovers from IRA Constituted Modification to a Series of Substantially Equal Periodic Payments
Excerpt: "Rollovers from an individual retirement arrangement (IRA) resulted in a modification to a series of substantially equal periodic payments, and therefore were subject to the additional 10% tax on premature distributions, the IRS has privately ruled." (Wolters Kluwer Law & Business)
Overview: Brokers as Fiduciaries (PDF)
2 pages. Excerpt: "[Fred Reish is] often asked whether there are any lawsuits against brokers as fiduciaries for retirement plans. The answer is, yes, there are lawsuits and NASD arbitrations claiming that brokers have become ERISA fiduciaries. They are, in the main, based on allegations that the brokers gave investment advice. The cases are usually filed by the plan sponsor or its fiduciaries (e.g., the responsible officers, the committee or the trustee) to recover investment losses." (Reish Luftman Reicher & Cohen)
Overview: Treasury Department's 2008 Business Plan to Focus on PPA Guidance
Excerpt: "The Treasury Department's 2008 business plan, starting July 1, 2007, will focus on employee benefit provisions implemented by the Pension Protection Act of 2006 . . . ." (Wolters Kluwer Law & Business)
American Benefits Council Testimony at Hearing on Financial Literacy and the Role of Employers (PDF)
6 pages. Hearing held by the Working Group on Financial Literacy, ERISA Advisory Council on Employee Welfare and Pension Benefit Plans, U.S. Department of Labor, Washington, DC, July 10, 2007 (American Benefits Council)
Retirement Has Some in a Panic
Excerpt: "Most investors feel prepared for retirement, but a significant number are antsy, nervous and worse, according to a survey conducted by the Securities Industry and Financial Markets Association of New York and Washington." (Investment News; free registration required)
GAO Report: Retirement Decisions - Federal Policies Offer Mixed Signals about When to Retire
79 pages. Excerpt: "While many factors influence workers' decisions to retire, Social Security, Medicare, and pension laws also play a role, offering incentives to retire earlier and later. Identifying these incentives and how workers respond can help policy makers address the demographic challenges facing the nation. [Highlights of the report are at http://www.gao.gov/highlights/d07753high.pdf.]" (U.S. Government Accountability Office)
Sponsored by: Health and Welfare Plan Management for Mid-Sized Employers
(Click on company name or banner to learn more.)
| September 23-26, 2007 - Las Vegas |
| Cost versus quality -- is your health care plan fit enough to survive this challenge? Many plan sponsors are implementing HSAs, HRAs, wellness and disease management programs, consumerism, prescription drug management and employee communication programs to strengthen their plans. Which features should you incorporate into your program? Find out at the Health and Welfare Plan Management for Mid-Sized Employers conference, scheduled September 23-26, 2007, at The Venetian® Resort/Hotel/Casino in Las Vegas. |
| (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
Review of Claim Denials: Limitation of Argument to the Administrative Record
Excerpt: "A class consisting of members of collective bargaining units at Phillips Petroleum plants sued for benefits under a 'workforce stability plan' ('WFSP') when the plaintiffs were laid off following a merger." (Health Plan Law blog by Attorney Roy F. Harmon III)
Text of Corrections to Final IRS Regs on Application of Section 409A to Nonqualified Deferred Comp (PDF)
6 pages. (Internal Revenue Service)
Overview: The IRS Explains the Tax Consequences of Imposing Restrictions on Vested Stock
Excerpt: "In Revenue Ruling 2007-49, the Internal Revenue Service clarified the income tax consequences under section 83 of the Internal Revenue Code if restrictions are imposed on substantially vested stock causing that stock to become substantially nonvested." (Thelen Reid Brown Raysman & Steiner LLP)
Overview: Proposed Regulations on Deductions for Entertainment Use of Business Aircraft (PDF)
5 pages. Excerpt: "On June 14, 2007 the Internal Revenue Service issued proposed regulations . . . relating to the use of business aircraft for entertainment. These proposed regulations, which follow the initial guidance of Notice 2005-45, affect taxpayers that deduct entertainment expenses under Section 274(e)(2) of the Internal Revenue Code, as amended by the American Jobs Creation Act of 2004." (BNA Daily Tax Report via Paul, Hastings, Janofsky & Walker LLP)
Small Correction to IRS Prop. Reg. on Entertainment Use of Business Aircraft
Excerpt: "[T]he language 'General rule. Except as provided in paragraph (f)(4) of this section, for' is corrected to read 'General rule. For'." (Internal Revenue Service)
Newly Posted Events
2007 Web/Telephone Seminar: 403(b) Plans
Nationwide on August 30, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Amending and Restating Qualified Plans for EGTRRA
Nationwide on August 28, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Comparing Roth and Traditional IRAs
Nationwide on August 9, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Coverdell Education Savings Accounts
Nationwide on August 7, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: General Traditional IRA Distributions
Nationwide on August 21, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Beneficiary Distributions
Nationwide on August 16, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Required Minimum Distributions
Nationwide on August 14, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Update
Nationwide on August 30, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: SEP Plans
Nationwide on August 2, 2007
presented by BISYS Retirement Services
Cross-Tested Plan Workshop
in California on August 15, 2007
presented by SunGard Relius
Cross-Tested Plan Workshop
in Illinois on August 15, 2007
presented by SunGard Relius
Cross-Tested Plan Workshop
in Ohio on August 15, 2007
presented by SunGard Relius
Fiduciary Issues for Internal ESOP Trustees
in Illinois on October 23, 2007
presented by National Center for Employee Ownership
Pension, Profit-Sharing, Welfare, and Other Compensation Plans
in District of Columbia on October 4, 2007
presented by ALI-ABA (American Law Institute-American Bar Association)
Pension, Profit-Sharing, Welfare, and Other Compensation Plans - Webcast
Nationwide on October 4, 2007
presented by ALI-ABA (American Law Institute-American Bar Association)
Safe Harbor 401(k) Plan Workshop
in Illinois on August 16, 2007
presented by SunGard Relius
Safe Harbor 401(k) Plan Workshop
in Ohio on August 16, 2007
presented by SunGard Relius
Safe Harbor 401(k) Plan Workshop
in California on August 16, 2007
presented by SunGard Relius
The 20th Annual ERISA Litigation Conference
in New York on October 25, 2007
presented by West Legalworks
The 401k Service Training Program for Retirement Sales & Service Professionals
in Pennsylvania on August 20, 2007
presented by Financial Service Standards, LLC
Newly Posted Press Releases
Pension Reporter Government Forms Software from DATAIR
DATAIR Employee Benefit Systems, Inc.
Prudential Launches Simplified Long-Term Care Solution for Small to Mid-Size Business Owners
Prudential Financial, Inc.
In First Case of Its Kind, NASD Charges Former Securities America Broker With Misleading Union Retirement Plans About Receipt of More Than $280,000 in Improper Directed Brokerage Commissions, Other Payments
NASD (National Association of Securities Dealers)
Retirement Plan Guide Book for Small Employers Now Available
Benefit Publications, LLC
Small Businesses Adamantly Oppose AB 8
California Small Business Health Coalition
Closing the Health Insurance Gap: AmWINS Group Benefits Launches Limited Medical Plan for Uninsured and Underinsured Workers
AmWINS Group Benefits
Transcend Technologies Group, Inc. Announces Acquisition of Comm5 Web Systems
Transcend Technologies Group, Inc.
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Plan Administrator
for Third Party Administration Firm
in FL
National Marketing/Project Manager
for Gallagher Retirement Services
in ANY STATE
Retirement Plan Administrator/Consultant
for Noble-Davis Consulting, Inc.
in OH
Senior Counsel
for Lincoln Financial Group
in IN
Defined Benefit - Plan Specialist
for National Rural Electric Cooperative Association (NRECA)
in DC, VA
Health & Welfare Senior Consultant
for Towers Perrin
in CA, DC, NY
Experienced Peer Reviewer
for The Angell Pension Group, Inc.
in ANY STATE
Director of Operations
for BenefitStreet, Inc.
in KS
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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