BenefitsLink |
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| March 5, 2009 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
Today's sponsor is www.ftwilliam.com
(Click on company name or banner to learn more.)
| Whether you have 5 plans or 50,000 plans, ftwilliam.com can make your life easier. |
| Our features are designed to help customers of any size:
1.) Exchange specifications, documents and forms between the ftwilliam.com servers and your systems in real time via ftwLink. 2.) Batch print all required amendments. 3.) Batch print Combined Annual Notices (e.g., Safe Harbor, QACA, EACA, TACA and QDIA) for ALL DC plans in one step. 4.) Other powerful batch and group printing features in the document and government forms software. 5.) Outstanding customer service. Talk to a real person the first time and don't wait hours for an answer. Or if you prefer, just send us an email. Isn't it time you experienced a few benefits! Call us today 800.596.0714 or email sales@ftwilliam.com. |
[Guidance Overview]
No PBGC Reporting Waiver for 2009 Missed Quarterly Pension Contributions
Excerpt: "Before 2009, the PBGC automatically waived reporting of missed quarterly contributions for employers with no more than 100 participants in all controlled group pension plans, or with 100-500 participants if the missed quarterly was to a well-funded plan. On Feb. 20, the PBGC announced it would grant no such waiver for 2009." (Mercer LLC)
[Guidance Overview]
Towers Perrin Monthly Retirement Regulatory Round-Up, February 2009 (PDF)
4 pages. Excerpt: "The Monthly Regulatory Round-Up is a high-level summary of legal and regulatory developments that occurred during January 2009 that may be relevant to large employers. Developments are sorted according to federal legislative developments, federal regulatory guidance, other developments (e.g., significant litigation, studies, select state law developments)." (Towers Perrin)
Table Showing Companies Suspending or Reducing 401(k) Contributions, 2008-2009 (PDF)
2 pages. Excerpt: "Sources: Newspaper reports; conversations with companies; and Form 5500 filings." (Center for Retirement Research at Boston College)
PBGC's Pension Insurance Data Book 2007 (PDF)
120 pages. Excerpt: "[In addition to presenting detailed statistics on PBGC program operations and benefit protections, this] edition of the Pension Insurance Data Book contains one short article that describesthe characteristics of PBGC-insured plans that completed a standard termination during Fiscal Year 2007." (Pension Benefit Guaranty Corporation)
State Retirement System Funding Down Sharply in 2008, According to Report
Excerpt: "The funding ratio for 59 state pension plans that reported actuarial data for 2008 was 77%, down from 88% for the same plans in 2007, according to a report from Wilshire Consulting. Among these 59 plans, pension assets declined by -7.6%, or -$65.9 billion, from $869.4 billion in 2007 to $803.6 billion in 2008, while liabilities grew 5.9%, or $57.6 billion, from $982.9 billion to $1.04 trillion." (PLANSPONSOR.com; free registration required)
[Opinion]
ASPPA Written Comments Submitted to the Ways & Means Committee, State of Washington (PDF)
6 pages. Hearing on SB 5791: An Act Relating to Creating the Washington Voluntary Retirement Accounts Program, March 2, 2009. Excerpt: "We oppose SB 5791 because the bill is not likely to expand coverage, and may in fact do more harm than good. . . . Like Washington, a number of other states have examined whether state administered 401(k) plans are a viable option to increase retirement coverage of their citizens. And every state has rejected such an approach." (American Society of Pension Professionals & Actuaries/Council of Independent 401 (k) Recordkeepers)
ASPPA (Sponsor)
(Click on company name or banner to learn more.)
| The ASPPA 401(k) SUMMIT – Make your appointment Now! |
Make an appointment for yourself March 22-24 to attend The ASPPA 401(k) SUMMIT. Join the experts in San Diego and attend sessions that will highlight:
|
Links to Items on Executive Comp, Benefits in General
[Guidance Overview]
Transportation Benefit Limit Increase (PDF)
Excerpt: "The new law increases the monthly transit pass/vanpooling benefit limit to equal the monthly parking limit. Effective March 1 and through December 31, 2010, the maximum tax-free mass transit or vanpooling benefits employers can make available to employees will increase from $120 to $230 per month (indexed for 2010). BUCK COMMENT. Although the new limit is now in effect, employers are not required to implement it. However, for those employers with pre-tax programs and transit benefit vendors that can easily accommodate the new limit, it would seem appropriate to make the increased benefit available as soon as possible." (Buck Consultants)
[Guidance Overview]
Monthly Regulatory Round-Up on Executive Compensation, February 2009 (PDF)
Monthly Regulatory Round-Up on Executive Compensation, February 2009 4 pages. Excerpt: "The Monthly Regulatory Round-Up is a high-level summary of legal and regulatory developments that occurred during January 2009 that may be relevant to large employers. Developments are sorted according to federal legislative developments, federal regulatory guidance, other developments (e.g., significant litigation, studies, select state law developments)." (Towers Perrin)
Economic Stimulus Package Temporarily Increases Tax-Free Transit Benefits
Excerpt: "Employers that want to offer the higher amount in the current plan year should confirm that payroll and benefit administrators can make the change, determine if any fees will apply for these adjustments, and communicate the new benefit limit to employees." (Mercer LLC)
Same-Sex Spouses Challenge U.S. Curbs on Marriage
Excerpt: "The suit, which legal specialists described as the first serious challenge to the federal law signed by President Bill Clinton, contends that the statute has deprived the plaintiffs of benefits enjoyed by heterose.xual married couples. Those benefits include health insurance for spouses of federal employees, tax deductions for couples who jointly file federal income tax returns, and the ability to use a spouse's last name on a passport." (The Boston Globe)
Newly Posted Events
"Automatic Enrollment: The Future Is Now" Web Seminar
Nationwide on March 31, 2009
presented by SunGard Relius
COBRA and HIPAA Compliance Workshop
in Florida on April 8, 2009
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
COBRA and HIPAA Compliance Workshop
in Florida on April 30, 2009
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
COBRA and HIPAA Compliance Workshop
in Florida on May 14, 2009
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
COBRA and HIPAA Compliance Workshop
in Florida on May 21, 2009
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Newly Posted Press Releases
MassMutual Hires New TPA Relationship Manager for Midwest Region
MassMutual
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs |
RSS Feed )
Benefits Administrator III
for General Atomics
in CA
Retirement Plan Consultant FT/PT with Columbus Based Actuarial Consulting Firm
for McHenry Advisers, Inc. Actuarial Services
in OH
Manager, 401(k) Marketing & Sales Support
for Bank of Oklahoma
in OK
Director, Customer Service (Call Center, Retirement Services)
for Prudential Financial
in CT
Customer Service Analyst (Sr Call Center Rep, Retirement Services)
for Prudential Financial
in CT
Resource Coordinator, WFM (Call Center, Retirement Services)
for Prudential Financial
in CT
Associate Manager, Customer Service (Call Center, Retirement Services)
for Prudential Financial
in CT
Associate Attorney - ERISA Litigation and Collection of Fringe Benefit Contributions
for Blitman & King LLP
in NY
EmployeeBenefitsJobs.com (Sponsor)
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| EmployeeBenefitsJobs.com is where the best employers find the best candidates! |
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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