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September 14, 2007
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Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy.


Today's sponsor is ASPPA

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ASPPA's Annual Conference, October 21-24, 2007

Be a part of it all at ASPPA's Annual Conference this year. Join over 1,500 retirement professionals, choose from over 60 workshops, attend numerous networking opportunities and participate in ASPPA's bi-annual march to the hill. All this and more await you at the Hilton Washington, October 21-24, 2007. Register Now.

New Compliance Rules; News

Prop. DOL Regs: Multi-Employer Pension Plan Information Made Available on Request (PDF)
8 pages. Excerpt: "This document contains a proposed regulation that, upon adoption, would implement amendments to the Employee Retirement Income Security Act of 1974, as amended (ERISA or the Act), requiring the administrator of a multiemployer plan to provide copies of certain actuarial and financial information about the plan to participants and others upon request. The amendments, enacted by the Pension Protection Act of 2006, added subsection (k) to section 101 of ERISA." (Employee Benefits Security Administration)

DOL Floats Additional New Pension Rules
Excerpt: "The U.S. Department of Labor today announced proposed rules that would implement rights outlined in the Pension Protection Act of 2006. If effected, the rules will give participants in multi-employer pension plans, their union representatives and contributing employers the right to request and receive copies of certain actuarial, financial and other fund-related documents from their plans, the DOL said." (Investment News; free registration required)

Text of PBGC Strategic Plan FY 2008 -- 2013 (PDF)
8 pages. Excerpt: "This plan identifies key activities that carry out the agency's mission and provides the overarching framework for achievement of agency priorities and allocation of its resources." (Pension Benefit Guaranty Corporation)

PBGC Issues Five-Year Action Proposal
Excerpt: "The nation's private sector pension insurer has worked out a five-year plan for accomplishing its goals - and is now looking for feedback on that plan." (PLANSPONSOR.com; free registration required)

The CPA Journal Notes a Website of the Month: Benefit Plans Plus
Excerpt: "The Benefit Plans Plus website, www.bpp401k.com, offers a variety of materials focusing on 401(k) plans, as well as comparisons of 401(k)s with other retirement vehicles." (New York State Society of CPAs)

Compliance Rule Summaries/Analysis/Filed Comments

Nonprofit Workers Face Retirement Plan Asset-Transfer Deadline
Excerpt: "Most employers currently allow such switches, but after Sept. 24, as part of a new batch of IRS rules, your ability to make these transfers will be limited. You will only be allowed to make a transfer to a provider that has a written information-sharing agreement with your employer. (Your future contributions, as before, will be restricted to your employer's 403(b) menu.)" (CNNMoney.com)

Hewitt Federal Legislation Quick Guide Updated as of September 11, 2007, for Retirement Plans (PDF)
7 pages. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding retirement plans. (Hewitt Associates)

AT&T Violated the PDA by Excluding Pregnancy Leave Time in Retirement Benefit Calculations
Excerpt: "From Spencer's Benefits Reports: Reversing its original ruling in the case, the Ninth Circuit U.S. Court of Appeals has held that AT&T Corporation violated the Pregnancy Discrimination Act (PDA), when it calculated retirement benefits after the effective date of the PDA by giving service credit for all pre-PDA temporary disability leave taken by employees except leave by reason of pregnancy. The case is Hulteen, et al. v. AT&T Corporation (No. 04-16087)." (Wolters Kluwer Law & Business)

Practitioners Call for Careful Implementation to Avoid Standard Termination Timing Traps (PDF)
2 pages. Excerpt: "The Pension Protection Act's changes to the minimum lump-sum valuation rules need to be carefully implemented in the context of standard terminations, practitioners told BNA Sept. 12. The key issue relates to timing, both of the amendment reflecting the new rules and of the termination date of the plan, they said." (The Bureau of National Affairs, Inc via Keightley & Ashner LLP)

Trends; Surveys; Research

401k Loans | 401k Loan Rules | 401k Loan Interest
Excerpt: "It's very easy to get a 401(k) loan, and usually you have the money in hand fairly quickly. To my mind, that makes a 401(k) loan a good very-rainy-day option -- an emergency source of funds you can use if the emergency is big enough to tap out your regular rainy-day fund. But for something like a new car, or a down payment on a house, exhaust your other options first: nearly all of them will be cheaper than a 401(k) loan in the long run." (The Motley Fool)

Uncovering and Understanding Hidden Fees in Qualified Retirement Plans, 3rd Edition (PDF)
46 pages. Excerpt: "Understanding how hidden fees came about, and recognizing the specific types and amounts of such fees, will help employers make better decisions regarding 401(k) services. That understanding will help create a more secure retirement for American workers." (Matthew D. Hutcheson via 401khelpcenter.com)

Report on Multinational Pooling and Captives: Global Pension Pooling (PDF)
5 pages. Excerpt: "A global approach to benefits and pensions is not for every company. The challenges are many: -- careful analysis, -- trustee and participant communications, and -- persuasive evidence for subsidiaries and top financial and HR management." (Pension Publications Limited via Towers Perrin)

PBGC to Look Closer at Risky Pensions
Excerpt: "The PBGC, in its general strategic plan for fiscal 2008-2013 released [September 13], said one key goal will be to enhance its scrutiny of pension plans. 'Improve risk monitoring and early warning activities and align resources to assure proper plan terminations' will be a goal of the agency, according to the strategic plan." (Pensions & Investments)

Stable Value Funds: Looking Good... or Overlooked?
Excerpt: "Given the increased attention placed on the nation's broader retirement challenges, the time is overdue to examine the procedures plan fiduciaries use in evaluating their stable value fund options." (JPMorgan)

New State Rules Clarify Deals with New York State Public Pension Fund
Excerpt: "The state comptroller, Thomas P. DiNapoli, has instituted new policies regarding the disclosure of the use of intermediaries by investment firms who do business with the New York State pension fund, officials said . . . ." (The New York Times; free registration required)

Managing the Mortgage Melt-Down in Relation to Retirement Fund Investments
Excerpt: "The subprime mortgage crisis is creeping into the nooks and crannies of much of the U.S. economy, but one area of particular interest to HR and benefits executives is how the potential impact on pension plans." (Human Resource Executive Online; free registration required)

Reasons for Delaying Retirement Vary, but There Is No Mistaking the Trend
Excerpt: "The trend is national: From 2000 to 2006, the proportion of the nation's 65- to 74-year-olds who remained in the labor force increased from nearly one in five to one in four, according to census figures released this week." (The Washington Post; free registration required)

Uncovering Fee Disclosure (PDF)
Pages 1, 5 of 10 pages. Excerpt: "Many advisers are resistant to government-mandated participant fee disclosures as they anticipate that it will cause some participants to overlook the value offered by the plan and generate many questions by participants who do not understand the disclosures. Furthermore, many advisers currently provide their own types of fee disclosures and oppose deviations from their methods." (Reish Luftman Reicher & Cohen)

Adviser Do's and Don'ts - Fiduciary and Nonfiduciary Roles (PDF)
Page 2 of 10 pages. Excerpt: "In preparing service agreements for financial consultants, we have identified a number of do's and don'ts . . . ." (Reish Luftman Reicher & Cohen)

Discussion Paper: The Theory of Life-Cycle Saving and Investing
Excerpt: "How much should a family save for retirement and for the kids' college education? How much insurance should they buy? How should they allocate their portfolio across different assets? . . . We believe that the life-cycle model developed by economists over the last fifty years provides guidance for making such decisions. The theory teaches us to view financial assets as vehicles for transferring resources across different times and outcomes over the life cycle . . . ." (Federal Reserve Bank of Boston via Social Science Research Network)

Policy; Opinion; Advocacy

The Asset Allocation Timeline for Target-Date Funds May Be Too Aggressive for Many Investors
Excerpt: "We have a very straightforward perspective: If the notion of a dynamic asset allocation model over an investor's lifetime makes sense, then the concept of a target-date fund makes sense. Nevertheless, we acknowledge that there are legitimate challenges to the basic underlying assumptions of target-date funds." (Financial Planning and SourceMedia, Inc.)


Links to Items on Executive Comp, Benefits in General

Disclosure - Well-Meaning Byproduct of Years of ERISA Regulation, Litigation and Ongoing Pension Reform Policy
Excerpt: "Retirement plan participants may well scratch their heads when they read the various disclosure notices weighing down the distribution paperwork and summary plan descriptions of their defined-benefit and defined-contribution plans. With new requirements on the horizon, it's time for employers to transform mandated disclosure into truly helpful communication." (Workforce Management; free registration required)

Overview of Changes to California Rules Relating to Equity Compensation Plans
Excerpt: "On July 9, 2007, the California Corporations Commissioner (the 'Commissioner') approved, effective immediately, changes to regulations relating to compensatory benefit plans. These regulations apply to offers and sales of securities to employees, officers, directors, consultants, and certain other advisors in California by privately held companies, public companies not listed on a nationally recognized stock exchange, and foreign private issuers." (Jones Day)

Joint Economic Committee Letter to Fortune 500 Companies with Questionnaire on Leave Policies (PDF)
2 pages. Excerpt: "The JEC is collecting information on the family leave policies of Fortune 100 companies. We are particularly interested in the paid leave policies for mothers and fathers following the birth or adoption of a child." (Joint Economic Committee via HR Policy Association)

Hewitt Federal Legislation Quick Guide for September 11, 2007, on Human Resources & Employment Law (PDF)
14 pages. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding human resources and employment law. (Hewitt Associates)

Overview: IRS's Limited Relief from Section 409A Deadline (PDF)
7 pages. Excerpt: "The Notice extends the 'good faith' compliance period under section 409A(b) that was provided under prior guidance (Notice 2006-33). That is, until further guidance is issued, companies may continue to rely on a reasonable, good faith interpretation of section 409A(b) to determine whether the use of a trust or other funding arrangement causes a problem." (Groom Law Group)

Practitioners Wrestle with 409A Compliance Issues
Excerpt: "Employers striving to meet the January 2008 deadline for bringing their nonqualified deferred compensation plans into compliance with Code Sec. 409A will need to resolve several issues highlighted by benefits practitioners at an American Law Institute-American Bar Association (ALI-ABA) video webcast held on August 30, 2007." (Wolters Kluwer Law & Business)


Newly Posted Events

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Wisconsin on October 3, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Wisconsin on October 5, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Wisconsin on October 10, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Pennsylvania on October 10, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Massachusetts on October 12, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Wisconsin on October 12, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Oregon on October 17, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in California on October 17, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in California on October 19, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in District of Columbia on October 24, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Washington on October 24, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Ohio on October 24, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Maryland on October 26, 2007
presented by BISYS Retirement Services

2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Virginia on October 31, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Wisconsin on October 2, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Wisconsin on October 4, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Wisconsin on October 9, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Pennsylvania on October 9, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Wisconsin on October 11, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Massachusetts on October 11, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in California on October 16, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Oregon on October 16, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in California on October 18, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Ohio on October 23, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in District of Columbia on October 23, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Washington on October 23, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Maryland on October 25, 2007
presented by BISYS Retirement Services

2007 Fall Tour: IRA Essentials
in Virginia on October 30, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: Advanced Health Savings Accounts
Nationwide on October 16, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: Basic IRAs
Nationwide on October 4, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: Individual(k) Plans
Nationwide on October 9, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: Introduction to Health Savings Accounts
Nationwide on October 30, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: IRA Excess Contributions
Nationwide on October 2, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: IRA Fundamentals for Frontline Personnel - Part I
Nationwide on October 23, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: IRA Fundamentals for Frontline Personnel - Part II
Nationwide on October 25, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: IRA-to-IRA Transfers and Rollovers
Nationwide on October 18, 2007
presented by BISYS Retirement Services

2007 Web/Telephone Seminar: Withholding
Nationwide on October 11, 2007
presented by BISYS Retirement Services

401(k) Plans
in Minnesota on October 16, 2007
presented by Employee Benefits Institute of America (EBIA)

401(k) Plans
in Kansas on October 30, 2007
presented by Employee Benefits Institute of America (EBIA)

401(k) Plans
in Colorado on November 6, 2007
presented by Employee Benefits Institute of America (EBIA)

401(k) Plans
in Maryland on November 13, 2007
presented by Employee Benefits Institute of America (EBIA)

401(k) Plans
in Texas on November 27, 2007
presented by Employee Benefits Institute of America (EBIA)

401(k) Plans
in Arizona on December 4, 2007
presented by Employee Benefits Institute of America (EBIA)

Cafeteria Plans
in Minnesota on October 17, 2007
presented by Employee Benefits Institute of America (EBIA)

Cafeteria Plans
in Kansas on October 31, 2007
presented by Employee Benefits Institute of America (EBIA)

Cafeteria Plans
in Colorado on November 7, 2007
presented by Employee Benefits Institute of America (EBIA)

Cafeteria Plans
in Maryland on November 14, 2007
presented by Employee Benefits Institute of America (EBIA)

Cafeteria Plans
in Texas on November 28, 2007
presented by Employee Benefits Institute of America (EBIA)

Cafeteria Plans
in Arizona on December 5, 2007
presented by Employee Benefits Institute of America (EBIA)

COBRA Compliance for Group Health Plans
in California on October 12, 2007
presented by Employee Benefits Institute of America (EBIA)

COBRA Compliance for Group Health Plans
in Minnesota on October 19, 2007
presented by Employee Benefits Institute of America (EBIA)

COBRA Compliance for Group Health Plans
in Kansas on November 2, 2007
presented by Employee Benefits Institute of America (EBIA)

COBRA Compliance for Group Health Plans
in Colorado on November 9, 2007
presented by Employee Benefits Institute of America (EBIA)

COBRA Compliance for Group Health Plans
in Maryland on November 16, 2007
presented by Employee Benefits Institute of America (EBIA)

COBRA Compliance for Group Health Plans
in Texas on November 30, 2007
presented by Employee Benefits Institute of America (EBIA)

COBRA Compliance for Group Health Plans
in Arizona on December 7, 2007
presented by Employee Benefits Institute of America (EBIA)

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 (EBIA)

ERISA Compliance for Health & Welfare Plans
in Minnesota on October 18, 2007
presented by Employee Benefits Institute of America (EBIA)

ERISA Compliance for Health & Welfare Plans
in Kansas on November 1, 2007
presented by Employee Benefits Institute of America (EBIA)

ERISA Compliance for Health & Welfare Plans
in Colorado on November 8, 2007
presented by Employee Benefits Institute of America (EBIA)

ERISA Compliance for Health & Welfare Plans
in Maryland on November 15, 2007
presented by Employee Benefits Institute of America (EBIA)

ERISA Compliance for Health & Welfare Plans
in Texas on November 29, 2007
presented by Employee Benefits Institute of America (EBIA)

ERISA Compliance for Health & Welfare Plans
in Arizona on December 6, 2007
presented by Employee Benefits Institute of America (EBIA)

HIPAA Portability, Privacy & Security
in California on October 12, 2007
presented by Employee Benefits Institute of America (EBIA)

HIPAA Portability, Privacy & Security
in Minnesota on October 19, 2007
presented by Employee Benefits Institute of America (EBIA)

HIPAA Portability, Privacy & Security
in Kansas on November 2, 2007
presented by Employee Benefits Institute of America (EBIA)

HIPAA Portability, Privacy & Security
in Colorado on November 9, 2007
presented by Employee Benefits Institute of America (EBIA)

HIPAA Portability, Privacy & Security
in Maryland on November 16, 2007
presented by Employee Benefits Institute of America (EBIA)

HIPAA Portability, Privacy & Security
in Texas on November 30, 2007
presented by Employee Benefits Institute of America (EBIA)

HIPAA Portability, Privacy & Security
in Arizona on December 7, 2007
presented by Employee Benefits Institute of America (EBIA)

HSAs, HRAs, and Consumer-Driven Health Care
in Minnesota on October 18, 2007
presented by Employee Benefits Institute of America (EBIA)

HSAs, HRAs, and Consumer-Driven Health Care
in Kansas on November 1, 2007
presented by Employee Benefits Institute of America (EBIA)

HSAs, HRAs, and Consumer-Driven Health Care
in Colorado on November 8, 2007
presented by Employee Benefits Institute of America (EBIA)

HSAs, HRAs, and Consumer-Driven Health Care
in Maryland on November 15, 2007
presented by Employee Benefits Institute of America (EBIA)

HSAs, HRAs, and Consumer-Driven Health Care
in Texas on November 29, 2007
presented by Employee Benefits Institute of America (EBIA)

HSAs, HRAs, and Consumer-Driven Health Care
in Arizona on December 6, 2007
presented by Employee Benefits Institute of America (EBIA)


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Relationship Manager (IRC38755)
for Huntington National Bank
in WV

Account Executive - Retirement Services
for The Principal Financial Group
in CA

New Business Analyst
for Standard Insurance Company
in PA

Director of US Investment Research
for Hewitt Associates
in IL

Defined Benefits Analyst
for Hewitt Associates
in CT

Manager, Retirement Services - Strong Leader & 401(k) Expert!
for Symetra Financial
in WA

International Consulting Associate (Non-actuary)
for Towers Perrin
in NY

Defined Contribution Retirement Plan Administrator
for Loren D. Stark Company, Inc.
in TX

Pension Administrator - Account Executive
for Philadelphia TPA Firm
in PA

Sales/Marketing - Pension Consultant
for Polycomp Administrative Services
in CA

Retirement Plan Administrator
for MVP Plan Administrators, Inc.
in NC

Health & Welfare Senior Consultant
for Towers Perrin
in CA, DC, NY

DC Compliance Specialist
for Trinity Pension Consultants
in OH

Health and Benefits Client Service Manager
for Mercer
in MA

Product Development Manager
for Princeton Retirement Group, a Merrill Lynch Co.
in GA




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