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| October 19, 2007 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
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| Taking ASPPA exams this fall? Supplement your credentialing course material with our new webcourses. On-line and easy to access, these fabulous new tools are now available for RPF-1, RPF-2, PFC-1, PFC-2, DC-1 and DC-2 exams. Not the only one at your firm taking the same courses? Corporate discounts are available for every webcourse we offer. Take every opportunity to learn on your timetable. Register for these courses now at www.asppa.org/webcourses |
(a) New Guidance Documents
Proposed PBGC Regs on Administrative Review of Agency Decisions (PDF)
4 pages. Excerpt: "Pension Benefit Guaranty Corporation (PBGC) proposes amending its regulation on Administrative Review of Agency Decisions (29 CFR part 4003) to clarify that the agency's Appeals Board may refer certain categories of appeals to other PBGC departments for a written response and to remove determinations under section 4022A of the Employee Retirement Income Security Act of 1974 (ERISA) from the scope of part 4003. The proposed amendments also include minor clarifying and technical changes to the rules for administrative review of agency decisions." (Pension Benefit Guaranty Corporation)
(b) News
Indiana University-Purdue University Fort Wayne Launches 1st U.S. Pension Institute
Excerpt: "The institute plans to support retirement plan and employee benefits providers through education, training, credentialing, research and technical support." (The Journal Gazette)
NYC Teachers Agree to Bonus Pay Tied to Scores, Changes to Retirement Plan
Excerpt: "Under the changes to the pension plan announced yesterday, there would be a six-month window within which teachers who agree to increase their pension contributions by 1.85 percent of their salaries, will be able to retire at age 55 with full pension benefits as long as they have 25 years of service." (The New York Times; free registration required)
Retirement Assets Hit High-Water Mark in 2007
Excerpt: "U.S. retirement assets totaled $16.6 trillion, with retirement savings accounting for 38% of all household financial assets, as of the end of the first quarter." (Investment News; free registration required)
(c) Summaries of Guidance; Filed Comments
Chart: COLA Increases for Dollar Limitations on Benefits and Contributions
Excerpt: "The Internal Revenue Service announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2008. [The chart shows the dollar limitations for tax years 2001-2008 for each code section.]" (Internal Revenue Service)
Overview: New Fiduciary Responsibilities of Hospitals, Other 403(b) Sponsors (PDF)
Excerpt: "[H]ere are a few things plan sponsors should know." (Milliman)
Overview: DOL Guidance on Benefit Statement Good Faith Compliance (PDF)
2 pages. Excerpt: "The guidance provided in FAB 2007-03 supersedes prior guidance relating to the time for furnishing pension benefit statements for nonparticipant-directed individual account plans." (Buck Consultants)
Overview: Deadline for Trustee-Directed Plans to Provide Benefit Statements
Excerpt: "[T]he DOL is extending the 'good faith' compliance deadline for providing the participant benefit statement for trustee-directed plans to the earlier of: (1) the date on which the plan sponsor files its Form 5500 for the plan year to which the statement relates, or (2) the due date for filing the Form 5500 (including extensions)." (SunGard Corbel LLC)
Hewitt Federal Legislation Quick Guide Updated as of October 17, 2007, for Retirement Plans (PDF)
9 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)
(d) Trends, Surveys, Research
Public Fund Survey -- Summary of Findings for FY 2006 (PDF)
15 pages. Excerpt: "The Public Fund Survey is an online compendium of key characteristics of most of the nation's largest public retirement systems." (National Association of State Retirement Administrators)
(e) Policy, Opinion, Advocacy
Text of Pomeroy-Cantor Bill to Delay the Effective Date of the PPA Funding Rules (PDF)
15 pages. (U.S. House of Representatives via American Benefits Council)
Links to Items on Executive Comp, Benefits in General
Hewitt Federal Legislation Quick Guide for October 17, 2007, on Human Resources & Employment Law (PDF)
12 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)
Official Summary of the Offshore Deferred Compensation Reform Act (PDF)
2 pages. Excerpt: "Problem: There is a fundamental issue of equity between middle-class Americans who can elect to defer up to $15,500 of income into qualified plans and an additional $4,000 into their IRA's and higher-income U.S. taxpayers who can defer unlimited amounts offshore. Most recently, the issue has been highlighted by news accounts of U.S. hedge fund managers being able to defer billions of dollars of compensation offshore." (Rep. Emanuel/Sen. Kerry via American Benefits Council)
Newly Posted Events
ASPPA Fall 2007 Examination Window
Nationwide on November 1, 2007
presented by American Society of Pension Professionals & Actuaries (ASPPA)
How Qualified Retirement Plan Documents can be Reviewed for a Favorable Determination Letter
in Illinois on October 24, 2007
presented by John Marshall Law School, The
PENSION & BENEFITS CONFERENCE - NEWPORT BEACH, CA (ORANGE COUNTY)
in California on November 14, 2007
presented by The Waage Law Firm, APC
PENSION & BENEFITS CONFERENCE - SAN DIEGO, CA
in California on October 30, 2007
presented by The Waage Law Firm, APC
Required Minimum Distributions and Nonspouse Rollovers
Nationwide on November 15, 2007
presented by SunGard Relius
Web Seminar: Uncover and Manage Your 401(k) Plan's Expenses
Nationwide on October 25, 2007
presented by TRI-AD
Newly Posted Press Releases
Pension Reporter Government Forms System from DATAIR -- Year 2007 Forms Released
DATAIR Employee Benefit Systems, Inc.
TRI-AD Introduces 401(k) Full Fee Disclosure Guarantee
TRI-AD
Synapses Provides Corporate Benefit Advisors, Inc. with Plan-Level Analytics Tools and Participant Education Tools for 401(k) Customers
Synapses Inc.
Newly Posted or Renewed Job Openings
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Retirement Plan Administrator
for Howard Simon & Associates
in IL
Consultant, Defined Contributions/401(k) Plans
for Aon Consulting
in NJ
DC/401(k) Plan Compliance Manager
for Associated Pension Services, Inc.
in IL
Compliance Coordinator
for JPMorgan Chase
in MO
Compliance Coordinator, QDRO
for JPMorgan Chase
in MO
Disability Benefits Analyst
for Standard Insurance Company
in NY
Senior Disability Benefits Examiner
for Standard Insurance Company
in NY
Retirement Plan Consultant
for Kibble & Prentice
in WA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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