BenefitsLink |   |
| August 31, 2007 |
| Here are the Internet's newest links on plan operation, design and policy; emphasis is on compliance and costs. |
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(Click on company name or banner to learn more.)
| Software for 401(k), Pension and Flex Administration |
| Pick and choose the software modules you need:
DC/401(k) Proposals & Administration - DB Proposals & Administration - Retirement Plan Documents (Prototype and
Volume Submitters) - Government Forms (5500s, 1099-Rs, 5300s) - Cafeteria Plan Administration & Documents - Participant Termination Calculations - FAS 132 Reporting
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Official Guidance; News
Principal Hit with IRA Rollover SuitsExcerpt: "Participants in two Principal Financial Group 401(k) plans have sued the Des Moines, Iowa-based plan provider, alleging it fraudulently convinced them to roll over their balances into a high-cost IRA." (PLANSPONSOR.com; free registration required)
Michigan Senate Bill Would Let a Quarter of State Workers Retire Early
Excerpt: "Thousands of veteran state workers - more than 25 percent of them - could get enhanced pension benefits under an early retirement bill that passed the state Senate on Thursday. The Senate voted 21-16 for the measure, which Senate Majority Leader Michael Bishop said would shrink government and help resolve the state's budget crisis." (Lansing State Journal)
Summary/Analysis of Official Guidance
Pension Protection Act Changes Valuations for Tax PurposesExcerpt: "The Pension Protection Act of 2006 changed tax valuation matters that affect how appraisals of non-cash contributions are considered by the IRS. The IRS now has greater authority to impose penalties on appraisers who value property at an amount that the IRS later disputes." (AICPA)
Chart: Summary of the 401(k) Fair Disclosure for Retirement Security Act of 2007 as of August 29, 2007 (PDF)
24 pages. The chart compares current law and the Miller bill and offers comments from Davis & Harman and the American Benefits Council. (American Benefits Council)
ERISA §404(c) Best Practices: Myths versus Facts (PDF)
20 pages. Excerpt: "There are many reasons plan sponsors give for electing not to comply with §404(c), and the following represent the most common: Compliance is expensive; Compliance is time consuming; Compliance is inconvenient or burdensome; There is no policing effort, so why bother? It is impossible to comply; and/or Close is good enough." (The Bureau of National Affairs, Inc. via Fiduciary Risk Assessment LLC)
Background Memorandum on State Laws and ERISA Preemption (PDF)
5 pages. Excerpt: "As Congress is considering how to address the problem of the working uninsured, one of the questions being raised is how the Employee Retirement Income Security Act of 1974 ('ERISA') will interact with state initiatives. This brief memorandum summarizes ERISA preemption and describes how ERISA might impact with some of the more prevalent state initiatives like 'pay or play' laws." (American Benefits Council)
Trends; Surveys; Research
How Roth 401(k) Plans Work and Their Potential Advantages to Employers and InvestorsExcerpt: "To help employers and employees consider the pros and cons of Roth 401(k)s, [Employee Benefit News] Contributing Editor Frank Palmieri covers some basic points about Roth 401(k)s and their use." (Employee Benefit News; free registration required)
Public Pension Plans Report Investment Returns
Brief reports from Pennsylvania, Louisiana, and Massachusetts. (Pensions & Investments)
2007 Consultant Survey - Products and Services Offered (PDF)
5 pages. Excerpt: "PLANSPONSOR's Investment Consultant Survey provides quantitative insights into some of the leading providers of those services." (PLANSPONSOR.com; free registration required)
FINRA Investor Education Survey (PDF)
1 page. Excerpt: "FINRA conducted a national online survey of 1,334 investors in June, 2007. The surveyed population was multi-generational, ethnically diverse and gender-balanced." (Financial Industry Regulatory Authority)
Policy; Opinion; Advocacy
(No items today.)Links to Items on Executive Comp, Benefits in General
Pension Fund Earmarks $700 Million Toward Health Care Technology
Excerpt: "Executives at the California Public Employees Retirement System - the nation's largest public pension - growing weary of the lack of technological innovation and ingenuity in health care, recently pledged $700 million of its coffers, in partnership with Health Evolution Partners, to invest in a new equity fund to bring fledgling health care products and services to market." (Employee Benefit News; free registration required)
Newly Posted Events
Black Space vs. White Space - The New Revenue Cycle Battleground
in California on September 20, 2007
presented by Healthcare Web Summit
Code Section 409A Workshop
in Minnesota on September 19, 2007
presented by SunGard Relius
Code Section 409A Workshop
in District of Columbia on September 19, 2007
presented by SunGard Relius
Code Section 409A Workshop
in Michigan on September 20, 2007
presented by SunGard Relius
Code Section 409A Workshop
in Texas on September 20, 2007
presented by SunGard Relius
Code Section 409A Workshop
in Washington on September 25, 2007
presented by SunGard Relius
Code Section 409A Workshop
in New York on September 26, 2007
presented by SunGard Relius
Code Section 409A Workshop
in Massachusetts on September 27, 2007
presented by SunGard Relius
Code Section 409A Workshop
in Kansas on September 27, 2007
presented by SunGard Relius
Code Section 409A Workshop
in North Carolina on September 27, 2007
presented by SunGard Relius
Code Section 409A Workshop
in Illinois on September 28, 2007
presented by SunGard Relius
Code Section 409A Workshop
in Georgia on September 28, 2007
presented by SunGard Relius
Newly Posted Press Releases
Newkirk Announces Finalized 403(b) Regulations Education Solution
Newkirk Products, Inc.
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs |
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Pension Administrator
for California Retirement Plans, Inc.
in CA
Retirement Plan Specialist
for Diversified Investment Advisors, Inc.
in WI
Plan Design Specialist
for The Guardian Insurance Company
in NY
Manager of Administration Support
for Northwestern Benefit Corporation of Georgia
in GA
Actuary
for The Angell Pension Group, Inc.
in ANY STATE
Staff Attorney
for DC Retirement Board
in DC
Defined Benefit Product Manager
for Great-West
in MA
Retirement Plan Specialist
for Diversified Investment Advisors
in NY
Pension Administrator
for The Pension Company
in FL
Corporate Retirement Plan Producers
for Broad Street Capital Advisors LLC
in GA
Pension Plan Administrator/Pension Plan Actuary
for The Waage Law Firm
in CA
Pension Administrator
for R-Tech Consultants, Inc.
in CA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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