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May 8, 2009 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
ASPPA (Advert.)
Western Benefits Conference, June 28 – July 1, 2009 Designed with all retirement and benefits professionals in mind, the Western Benefits Conference will cover it all in Denver, Colorado, June 28 – July 1. Over 50 workshops, seven specialty tracks, emerging compliance issues and several networking opportunities provide just a snapshot of the planned agenda. Register Now and Save! |
[Guidance Overview]
Towers Perrin Monthly Retirement Regulatory Round-Up, April 2009 (PDF)
5 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)
[Guidance Overview]
GM Single Equity Suit Falls before Appellate Court
Excerpt: "Because the Employee Retirement Income Security Act (ERISA) only requires overall plan level investment diversification, a group of General Motors defined contribution plan participants cannot proceed with their lawsuit claiming GM had improperly included undiversified single-equity funds in its plans. That was the ruling from the 2nd U.S. Circuit Court of Appeals in a case discussing a fiduciary's responsibility to properly diversify plan investments." (PLANSPONSOR.com; free registration required)
Investing After the Crisis: Price Matters Most
Excerpt: "Here's one of Wall Street's best-kept secrets: If you were investing 30 years ago, your best choice, for the long run, would have been super-safe Treasury bonds. That's where the money turned out to be. Investors erred in their religious belief that stocks always outperform bonds, over holding periods of 10 years or more." (The Washington Post; free registration required)
Podcast: Al Lurie Discusses Cash Balance Plans and Applicable Nondiscrimination Rules
Excerpt: "On this edition, Al Lurie, President of Alvin D. Lurie, P.C., Larchmont NY and Of Counsel with The Wagner Law Group, P.C. in Boston, discusses classifying cash balance plans and establishing discrimination rules." (LexisNexis Tax Law Center)
Priming Pension Plans for Today's Market (PDF)
Excerpt: "Despite the impact of the current financial crisis on pension plans, there are tactics that can help you succeed over the next 12 months and the long term. This issue of Investment Perspectives focuses on investment strategies that can help pension plan clients reap gains from long-duration portfolios and investment-grade corporate bonds, and reduce small-cap exposure. While each client's specific investment strategy will differ, there are clearly opportunities to manage risks and even realize gains in today's market." (Towers Perrin)
Tax Strategies for IRA Owners Affected by the Market
Excerpt: "The sharp stock market decline we've experienced has no immediate tax effect on pre-retirement-age taxpayers who invested their traditional IRAs or Roth IRAs in stocks and mutual funds, since losses as well as gains are not recognized within either type of IRA. At the same time, there are some tax strategies for owners of traditional or Roth IRAs to consider, whether they are still in their working years, or are retired and taking required minimum distributions (RMDs) from their accounts." (Thomson Reuters, "CPA Wealth Provider," via On Wall Street)
More Participants Tap Retirement Accounts
Excerpt: "The number of companies reporting early withdrawals for hardship from 401(k) and 403(b) plans (the nonprofit version of 401(k)s) rose to 44% last month from 15% in October 2008, according to a recent Watson Wyatt study that polled executives at 141 U.S.-based companies using an online questionnaire." (The Wall Street Journal)
401(k) Fee Critics Overstate Problem, ICI Chairman Says
Excerpt: "'What they don't mention is the long list of services that 401(k) plans provide,' including investment management and record keeping as well as legal services, audits, websites, call centers and participant education, John Murphy, chairman of the Investment Company Institute, said in a speech to about 800 mutual fund executives at the group's general meeting in Washington." (Investment Company Institute)
Investment Change Brings Plans Closer to Termination
Excerpt: "A new Aon Consulting survey has found that many companies with frozen pensions intend to make investment strategy changes to cut corporate pension expense volatility and put themselves one step closer to plan termination. An Aon news release said its poll of more than 70 U.S. organizations, with a cumulative total of frozen pension plan assets of over $50 billion, found that 81% are planning to change their investment strategy in the near future. Some 35% are looking to hedge significant risks, while 27% plan to change investments to reflect the shorter investment horizon to termination, and 19% plan to move to a more liability-driven investment strategy." (PLANSPONSOR.com; free registration required)
PBGC Offers Calming Words About the New Funding Notice
Excerpt: "This notice is intended to provide information about the plan's funding status, and several other matters, and must be provided even if the plan is not experiencing any funding difficulties. Nevertheless, it has occurred to some, including the Pension Benefit Guaranty Corporation (the 'PBGC'), that a participant will automatically assume the worst about the plan upon receiving the notice. Therefore, on its website, the PBGC has offered a few words intended to calm down participants." (ERISA Lawyer Blog)
Wells Fargo Freezes Traditional Pension Plan
Excerpt: "Wells Fargo & Co. told employees on Monday it will no longer contribute to their traditional pension plan, effectively cutting the total compensation of its workers less than two weeks after announcing record first-quarter profit. The San Francisco bank is combining its existing program with that of Wachovia Corp., the Charlotte, N.C., bank it acquired in December, and freezing both companies' cash balance plans, a type of defined benefit plan." (San Francisco Chronicle)
Hedge Funds: Overview of Regulatory Oversight, Counterparty Risks, and Investment Challenges (PDF)
18 pages. May 7, 2009, GAO testimony by Orice M. Williams, director, financial markets and community investment, before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, House Committee on Financial Services. (U.S. Government Accountability Office)
[Opinion]
Who Shredded Our Safety Net?
Excerpt: "Fees have always been one of the built-in scams of mutual funds, which charge investors for managing, operating, and even marketing and advertising the fund. On average, the fees add up to 1.5 percent of the value of an account, but they can run as high as 3.5 percent a year. . . . Congress, of course, has known about this scandal for years, and has periodically floated legislation to limit certain types of mutual fund fees, or at least demand full disclosure." (Mother Jones and the Foundation for National Progress)
The Center for Due Diligence (CFDD) (Advert.)
CFDD October 5-7, 2009 Advisor Conference ADAPT, SURVIVE & PROSPER: A Bull Market In BOR Changes The CFDD’s Advisor Conference is an all business event designed to help retirement plan advisors adapt to unprecedented challenges. Distinguished by accomplished advisor attendance and rich content, the advisor-centric conference has become the industry’s premier networking and educational event. To benefit from unbiased guidance, generate NEW business now, IMPROVE investment returns and LIMIT liability, register at a discount NOW! Click HERE for more information. |
Links to Items on Executive Comp, Benefits in General
[Guidance Overview]IRS's Depreciation Deduction Limits and Inclusion Amounts for Automobiles Placed in Service in 2009
Excerpt: "EBIA Comment: Generally, the cost of acquiring and maintaining a company car for an employee may qualify as a deductible expense for the employer. But the deduction limits and income inclusion amounts set forth in this revenue procedure can significantly reduce the actual tax deductions available for some vehicles. Interestingly, the depreciation limits and income inclusion threshold for automobiles other than trucks and vans are unchanged from last year, but the income inclusion amounts for those automobiles have fallen significantly. For trucks and vans, the depreciation limits, the income threshold, and the income inclusion amounts have all fallen. Lower inclusion amounts mean that leasing automobiles of any type is relatively more attractive in 2009 than it was last year." (Employee Benefits Institute of America)
[Guidance Overview]
Monthly Regulatory Round-Up on Executive Compensation, April 2009 (PDF)
2 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)
Wi$eUp: Financial Planning for Generation X & Y Women
Excerpt: "Wi$eUp is a financial education project targeted to Generation X and Y women. The centerpiece of the program is an eight-module curriculum offered online, as well as in a classroom setting, in educational institutions and other organizations in all ten Women's Bureau regions. In the online program, the curriculum is complemented by an 'Ask the Experts' feature, which permits participants to send questions by e-mail to volunteers with financial expertise. Another feature available to participants in both the online and classroom-based versions is a series of bi-monthly, free one-hour teleconference calls with featured speakers and a question and answer session." (U.S. Department of Labor Women's Bureau)
Webcasts and Conferences
(Click to post your webcast or conference)"Fundamentals of 401(k) and Other Qualified Plans" Seminar
Nationwide on June 3, 2009
presented by SunGard Relius
A Case Study: Using Data to Make Good Benefit Plan Decisions Webcast
Nationwide on May 21, 2009
presented by International Foundation of Employee Benefit Plans
AICPA National Conference on Employee Benefits Plans
in Florida on May 18, 2009
presented by American Institute of Certified Public Accountants (AICPA)
Ethics Issues for Benefits Lawyers Responding to Audit Letters
Nationwide on May 27, 2009
presented by ABA Joint Committee on Employee Benefits
Overview of the GASB Invitation to Comment on the Post-Employment Benefit Projects Webcast
Nationwide on May 20, 2009
presented by International Foundation of Employee Benefit Plans
Predictive Modeling Web Summit 2009
Nationwide on June 3, 2009
presented by MCOL
Rethinking Health Savings Accounts: Making Them Work for You and Your Employees
Nationwide on May 21, 2009
presented by Buck Consultants, an ACS Company
Press Releases
(Click to post your press release)NIPA Honors Outstanding Volunteers at 2009 Annual Forum & Expo
National Institute of Pension Administrators
With New Study Finding Obesity Key Driver of Rising Health Care Costs, NBGH Urges Congress to Act Now on Common-Sense Tax Code Changes
National Business Group on Health
SHRM Calls for New Policy on Workplace Leave to Ensure Flexibility and Predictability for Employees and Employers
Society for Human Resource Management (SHRM)
Corporate Voices for Working Families Study Links Workplace Flexibility for Hourly Workers with Attainment of Business Financial Goals and Core Objectives
Corporate Voices for Working Families
Bundled Retirement Outsourcing Market Reaches Maturity, Continued Growth Requires Focused Targeting and Positioning Efforts
Chatham Partners
MassMutual Chosen as Full-Service Provider for LAMMICO Retirement Plan
MassMutual
Mercer Announces New Hires to Expanded DC Sales Group
Mercer
Ascensus Adds ETFs to Fee-Based Platform
Ascensus
ING’s Robert M. Kaplan Receives ‘2009 Lifetime Achievement Award’ From National Institute Of Pension Administrators
ING Retirement Services
Employee Benefits Jobs
(Click to post your job opening | View all jobs |
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Director of Benefits
for Arnold & Porter LLP
in DC
Pension Assistant Manager
for Motion Picture Industry Pension and Health Plans
in CA
401K Product Development Manager
for Guardian Life Insurance Company
in PA
Manager, Proposal Content
for Prudential Financial
in NJ
EmployeeBenefitsJobs.com (Sponsor)
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Handy Links:
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