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February 14, 2008

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


Today's sponsor is DATAIR Employee Benefit Systems, Inc.

(Click on company name or banner to learn more.)
Banner ad for DATAIR Employee Benefit Systems, Inc.

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

Contact sales@datair.com or call 1-888-328-2474.


[Guidance Overview] Excessive Fee Suit Against Fidelity Survives Initial Challenge
Excerpt: "A federal judge in Missouri has determined that the fiduciary breach lawsuit over excessive fees and revenue sharing practices in ABB's 401(k) plan, filed . . . on behalf of the plan's participants, can move forward. [The judge] also ruled that the claims that the plan's investment adviser and directed trustee breached their [ERISA] fiduciary duties could likewise move forward." (planadviser Magazine)

[Guidance Overview] Seventh Circuit Grants Summary Judgment to Employer in Alleged ERISA Violation Caused by Firing
Excerpt: "The 7th U.S. Circuit Court of Appeals decided Evelyn Benders never proved it was the true intent of the Bellows and Bellows (B&B) firm to save itself the 401(k) contributions by changing her work classification." (PLANSPONSOR)

Asset Allocation at Retirement Age: Do You Really Need to Make a Change?
Excerpt: "The information available from the popular press and many advisors is to generally guide retirees to change their allocation to one that is more conservative. This is usually interpreted to mean that the investor should lighten up on stocks and put more of their investments into bonds. But retirement doesn't necessarily mean an individual should change their asset allocation. To see why, let's first look at the asset allocation process." (American Association of Individual Investors)

Strike Over Social Security-Type Retirement Program Cripples Greece
Excerpt: "A 24-hour nationwide strike on Wednesday grounded air travel and shut down public services, state banks and hospitals in the latest show of swelling labor protests against government plans to make changes in Greece's deficit-plagued pension system." (New York Times; free registration required)

Coming February 24: 'America Saves Week'
Excerpt: "During America Saves Week, individuals will be encouraged and assisted to assess their savings progress and take action to advance this progress. This encouragement and assistance will be provided by organizations and professionals with an interest in improving the financial security of individuals and families." (AmericaSavesWeek.org)

IRA Savers Preserving Retirement Assets As Long As Possible
Excerpt: "Most individual retirement account (IRA) owners are taking a long-term view of their retirement income and assets and tend to preserve their IRA assets as long as possible, according to a new study by the Investment Company Institute (ICI)." (CCH Pension and Benefits)

FASB Seeks Full Disclosure on 'Alternative Investments' Held in Post-Retirement Benefit Plans
Excerpt: "he proposal, which will be released for a 45-day comment period by March 7, reportedly will require companies to disaggregate the current broad asset categories -- equity securities, debt securities, real estate, and other -- into subcategories and then further sort them by risk using the fair value hierarchy laid out in FAS 157, Fair Value Measurement." (CFO.com)

[Opinion] Text of Investment Company Institute's Comments on Prop. IRS Regs on Automatic Contribution Arrangements
Excerpt: "The majority of our comments relate to the operation of EACAs, including how the plan year requirement should be applied, how current employees with pre-EACA plan elections on file should be treated, and what is required by the condition that assets be invested in accordance with regulations issued by the Department of Labor for default investments. We request clarification on a number of issues related to the operation of permissible withdrawals and the notice requirements for EACAs." (Investment Company Institute)

[Opinion] Text of SPARK Institute Comments on DOL Prop. Regs on Fee Disclosure for Services Provided to ERISA Plans (PDF)
14 pages. Excerpt: "The SPARK Institute members include the retirement plan service providers, such as record keepers and investment fund managers, who will be directly affected by any new fee disclosure rules." (The SPARK Institute)


Sponsored by: University Conference Services

(Click on company name or banner to learn more.)
Banner ad for University Conference Services

Signs of the Times: The Future of Plan Management

Auto enrollment, QDIAs, plan fees, liability driven investing...The times are changing for employer-sponsored retirement plans. Makes plan now to attend the Mid-Sized Retirement & Pension Plan Management Conference in San Francisco, March 11-14, 2008, to learn how these changes will affect your plan and participants.

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

Links to Items on Executive Comp, Benefits in General

(None today.)


Newly Posted Events

A Tiered Approach to Employee Ownership Program Design - Webcast
Nationwide on March 5, 2008
presented by Beyster Institute

Fiduciary Risk, Trading Controls and External Asset Manager Selection Webinar
Nationwide on March 5, 2008
presented by Pension Governance, LLC

FMLA 2008 Update: Complying With The New Regulations And Military Leave Expansion - Webcast
Nationwide on March 6, 2008
presented by Alexander Hamilton Institute

HIPAA Traps for the Unwary: Health Status Discrimination, Special Enrollment, Creditable Coverage, and More
Nationwide on March 6, 2008
presented by Employee Benefits Institute of America (EBIA)/Thomson Tax & Accounting


Newly Posted Press Releases

Few Employers Addressing Workplace Stress, Watson Wyatt Surveys Find
Watson Wyatt

Is a Common Cold a ‘Serious Health Condition’?
Society for Human Resource Management (SHRM)

National Employee Benefits Day To Be Celebrated on April 2, 2008
International Foundation of Employee Benefit Plans

ICI Asks IRS to Make Proposed Rules More Flexible, Cost-Efficient
Investment Company Institute

AHIP Statement on New York Attorney General’s Announcement
America’s Health Insurance Plans (AHIP)

Fidelity Reports Strong Growth In Retirement Services Business In 2007
Fidelity Investments

Corporate Pension Plans Are Being Reevaluated, The Conference Board Reports in New Analysis
The Conference Board

Pension Tension Blues Music Video
Pension Governance, LLC

Backup Care Emerges as Fastest-Growing Work-Life Benefit
Work Options Group

America Saves Week: February 24th -- March 2nd
America Saves Week.org

Sun Life Financial Launches Industry’s First Retro Disability Benefits
Sun Life Financial

Retirement Management: Over 60+ -- Still Ambitious and Working
Development Dimensions International


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401(k) Client Relationship Manager
for The Douglas Group
in CA, MN, NY

Senior Retirement Plan Conversion Specialist
for San Francisco Bay Area
in CA

Senior ERISA Consultant (Principal)
for Tofias PC
in MA

Relationship Coordinator
for The Online 401(k)
in CA

Internal Wholesaler
for ING, US Financial Services
in CA, CT, MN

Bank Relationship Manager
for Great-West Financial Services
in OR

CRTNJ - Lead Audit Analyst
for CitiStreet
in NJ

Retirement Plan Administrator
for Markley Actuarial Services, Inc.
in PA




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