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| August 16, 2007 |
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Study Says Public Pensions Wrong Place for Divestment
Excerpt: "No one can argue that using public pension plan divestment as a tool to help stop genocide is well intentioned, but the effort may still not be the best thing for the plans, a research paper argued. Author Alicia H. Munnell, of the Center for Retirement Research at Boston College, argues in 'Should Public Plans Engage in Social Investing?' that pension programs are ill suited as tools to bring about social change in other countries . . . ." (PLANSPONSOR.com; free registration required)
Linking 401(k) Plan Behavior to Employee Performance Reviews (PDF)
4 pages. Excerpt: "There remains . . . the critical problem of low contribution rates by plan participants. . . . The vehicle that has the highest likelihood of having a real impact on employee behavior is the annual performance review. Performance reviews are sure-fire events each year when an employer has the undivided attention of the employee. They are typically conducted by the one individual by whom the employee is most influenced - an immediate superior. What if the employee's 401(k) plan behavior were made an explicit part of the review?" (William J. Arnone, Ernst & Young LLP)
401(k) Participants Favor Equities Despite Market Volatility in July
Excerpt: "Despite market volatility in July, 401(k) participants moved their assets from fixed income investments to equities on 62% of the days in the month, according to Hewitt's 401(k) Index." (PLANSPONSOR.com; free registration required)
Judge Denies Motion to Dismiss Lockheed 401(k) Fee Lawsuit
Excerpt: "A U.S. District Court judge in the Southern District of Illinois this week denied Lockheed Martin's motion to dismiss a 401(k) fee lawsuit filed against the company. The lawsuit, Abbott v. Lockheed Martin, charges that the company violated its fiduciary duty by allowing employees in the company's savings plans to be charged excessive fees and failing to disclose the fees properly." (Financial Week; free registration required)
Summary of the PPA Reporting and Disclosure Requirements for 2007 Plan Year
Excerpt: "Under the Pension Protection Act of 2006, sponsors of qualified pension and profit sharing plans must comply with new reporting and disclosure requirements. A few of the requirements effective for the 2007 plan year are highlighted [in the target page]. " (Southern Employee Benefits Conference)
The Power of an ESOP
Excerpt: "Companies that have employee ownership grow about 2 percent to 3 percent better than without it . . . . Combined with a degree of employee involvement in day-to-day activities, that production increases to 6 percent to 11 percent over non-employee-owned companies." (The Bismarck Tribune)
COLAs Must be Included in Lump-Sum Benefits for Defined Benefit Plan Participants
Excerpt: "The 7th U.S. Circuit Court of Appeals has determined that cost-of-living adjustments (COLAs) provided to defined benefit plan participants who choose to receive their distributions in the form of an annuity must also be included in the calculation of benefits for those who choose to receive a lump-sum distribution." (PLANSPONSOR.com; free registration required)
Former Colgate-Palmolive Employees Challenge Cash Balance Plan
Excerpt: "Two former Colgate-Palmolive employees have asked a federal judge in Ohio to grant class action status to a lawsuit alleging their former employer's cash balance plan underestimated their lump-sum retirement payout." (PLANSPONSOR.com; free registration required)
Links to Items on Executive Comp, Benefits in General
Pension Picture Bright, Arizona's State Retirees Are Informed
Excerpt: "The pension system for Arizona state retirees is healthy and making progress toward fully funded status, but it could have benefited in recent years from more overseas investing, the system director told local retirees." (Arizona Daily Star)
Requests for ERISA Plan Information: Claims Administrator Held Not Subject to Penalties
Excerpt: "[P]lan information requests must be directed to the correct party for the obligations under 29 U.S.C. § 1024(b)(4) to apply. This question may not be a simple one . . . ." (Health Plan Law blog by Attorney Roy F. Harmon III)
Initiative Seeks Limits on California Health Care, Pension Benefits for Retired Public Workers
Excerpt: "A former state legislator and an Orange County official are working to qualify a measure for a 2008 state ballot that would impose new limits on health care benefits and pensions for retired public workers in California, the San Jose Mercury News reports." (California HealthCare Foundation; free registration may be required)
Change Is Coming to DOL's National Compensation Survey Benefits Products
The target page consists of questions and answers about the upcoming changes to NCS benefits publications. (U.S. Bureau of Labor Statistics)
Plan Participants Surf Their Plan Sponsors' Websites, but Conduct Fewer Transactions Than They Could
Excerpt: "Only 15% of plan participants change contribution allocations online and just 9% transfer funds among investment options online, according to a new study from Alexandria, Va.-based The Spectrum Group." (Investment News; free registration required)
Newly Posted Events
Comprehensive New IRS Regulations on Cafeteria Plans: How Has the Landscape Changed and How Should Plans Adapt?
Nationwide on August 30, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Making Consumerism Work: A Panel Discussion on Successful Strategies for Changing Employee Behavior
in District of Columbia on September 27, 2007
presented by
Total Rewards = Compensation + Benefits + Careers
in Illinois on August 23, 2007
presented by WEB - Chicago West
Newly Posted Press Releases
U.S. Labor Department Action Clears Way To Distribute $900,000 In 401(k) Assets To Former Employees Of South Bay Company
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Resolves Unpaid Health Claims Of Participants Covered By Mississippi State Medical Association Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
New Book: Redefining Retirement: How Will Boomers Fare?
Pension Research Council
Kaplan Financial Launches Next Generation of e-PAL Regulatory Reference Service
Kaplan Financial
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs |
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Administrator - Retirement Services
for Aris Corporation of America
in PA
Sales & Marketing - Vice President (VP)
for Raymond James Financial, Inc.
in FL
Technical Research Consultant
for Diversified Investment Advisors
in NY
Plan Review & Enrollment/Communications Specialist
for Pension Specialists, Inc
in CA
Client Service Consultant - Regional
for Standard Insurance Company
in OH
Benefits Project Manager
for Hewitt Associates
in NJ
Nurse Case Manager
for Standard Insurance Company
in OR
Retirement Plan Administrator
for Tax Sheltered Compensation, Inc.
in MN
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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