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[Official Guidance] Disaster Relief Relating to PBGC Deadlines in Response to Severe Storms and Flooding in Nevada Disaster Relief Announcement 08-01. Excerpt: "Pension Benefit Guaranty Corporation . . . is waiving certain penalties and extending certain deadlines in response to the severe storms and flooding that occurred on January 5, 2008, in Nevada." (Pension Benefit Guaranty Corporation) Potential Trap: Privacy Issues and the New 403(b) Rules Excerpt: "Privacy doesn't appear to be an issue for ERISA plans, because of ERISA's likely preemption of state privacy rules . . . . But what of that large block of individually owned 403(b) contracts over which the employer has no authority, and the plan participant is unwilling to grant consent? It can be a real wrench thrown in the gearhouse of consolidated administration." (Baker & Daniels LLP's Benefits Biz Blog) In Texas, Teachers Find Costlier Choices in Saving for Retirement Excerpt: "Under a law that took effect Jan. 1, public school employees in Texas can make new investments only in products that have been registered with the Teacher Retirement System of Texas. For the state's 936,000 public school employees, the problem isn't a lack of choice . . . .The problem is cost. Teachers and other school employees will have to look closely to find low-cost mutual funds . . . ." (Statesman.com) Who is Ready for Retirement, How Ready, and How Can We Know? (Research Report) Excerpt: "It concludes that the news is generally good for boomers in terms of retirement income, but that most of the studies do not take into account the risks that retirees face, including risks related to investment, longevity, and health care costs and needs." (AARP) GM Offers All U.S. Union Workers Buyouts, Early Retirement Excerpt: "Workers may choose a lump-sum payment, an annuity, or roll part or all of it into an individual retirement account or a 401K to postpone the tax hit and potentially make the offer worth much more than those on offer for UAW workers at Ford. GM factory workers who retire after 30 years currently have pensions of about $3,100 per month, plus health benefits. " (Washington Post; free registration required) [Opinion] Newer Web-Based Retirement Planning Tools Just Might Work Excerpt: "There is abundant academic and empirical evidence suggesting the shift to consumer driven retirement will not optimize consumer well being due to behavioral impediments and generally low investment interest and acumen. This issue is well recognized and has been partially addressed by regulators and the retirement industry via 'fiduciary immunization' for automated contributions and prepackaged lifecycle driven investment products. 401(k) plan auto-enrollment and utilization of target retirement funds can overcome some level of investor inertia with regard to savings and investment decisions. However, these tools are limited in their ability to ensure retirement sufficiency across a wide range of investor circumstances and preferences." (Fiduciary Investor) Sponsored by: ASPPA (Click on company name or banner to learn more.)
Links to Items on Executive Comp, Benefits in General (None today.) Newly Posted Events (None today.) Newly Posted Press Releases New Analysis Examines Trends in Health Benefit Costs and Wages Kaiser Family Foundation Nation's First Baby Boomer Receives Her First Social Security Retirement Benefit Social Security Administration The SPARK Institute Recommends Changes To DOLs Retirement Plan Fee Disclosure Regulations The SPARK Institute Retailers Welcome DOL Update of FMLA Rules National Retail Federation Supremely Confident to Super Stressed: Landmark Gen X Study From Schwab Uncovers Six Distinct Financial Mindsets Charles Schwab Corporation Newly Posted or Renewed Job Openings (Post a Job | View All Jobs | RSS Feed ) Pension Compliance Specialist for Laiken Associates, Inc. in NY Sr Analyst HR - Benefits for Philip Morris USA in VA Defined Benefit Plan Administrator for The Senex Group in CA Employee Benefit Associate for Allen, Gibbs & Houlik, LC in KS Pension Administrator/TPA for Block Consulting Actuaries, Inc. in CA Employee Benefits/ERISA Attorney for North Carolina based law firm. in NC Pension Consultant for Standard Insurance Company in MD Executive Benefit Plan Consultant for M Benefit Solutions in OR Client Services - Account Manager for ExpertPlan, Inc. in NJ Manager, Systems (Omni) for National Automobile Dealers Association - Retirement Trust in VA Benefits Administrator for National Automobile Dealers Association (NADA) in VA Senior Account Executive, Employee Benefits for ABD Insurance and Financial Services in CA Account Mgr I - SRS for Standard Insurance Company in TX Pension Administrator for Staffordshire Benefits, LLC in NJ Senior Pension Analyst for LWBJ Compensation & Benefit Services in IA Account Manager, Retirement for Cammack LaRhette Consulting in NY DC Testing Specialist for Kravitz - Louis Kravitz & Associates in ANY STATE, CA Handy Links:
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