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May 28, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy

DATAIR Employee Benefit Systems, Inc. (Advert.)

Software for Retirement and Cafeteria Plan Documents (clickable image)

Software for Retirement and Cafeteria Plan Documents

DATAIR Plan Document System.
Choose your documents: RETIREMENT PLANS: 401(k)/Profit Sharing, 403(b), DB, Cash Balance; CAFETERIA PLANS: 125, HSA, HRA
Choose your formats:
* Long format Standardized and Nonstandardized Prototypes   * Short format Standardized and Nonstandardized Prototypes
* IDP format Volume Submitters   * Prototype format Volume Submitters
Contact sales@datair.com or call 1-888-328-2474


[Guidance Overview]
Proposed Regs Relating to Suspension or Reduction of Safe Harbor Nonelective Contributions (PDF)

2 pages. Excerpt: "The proposed regulations apply to 401(k) plans (including those that have a Qualified Automatic Contribution Arrangement (QACA)) that provide for safe harbor nonelective contributions (3% of compensation) and 403(b) plans that provide for similar contributions." (Transamerica Center for Retirement Studies)


[Guidance Overview]
IRS Proposed Regulations for Suspension or Reduction of Safe Harbor Non-Elective Contributions (PDF)

Excerpt: "For employers who wish to suspend or reduce their safe harbor non-elective contributions, the proposed regulations are effective for plan amendments adopted after May 18, 2009, and may be relied on pending the issuance of final regulations. If more onerous guidance is issued in the future, the IRS has indicated that it will not apply the more restrictive rules retroactively." (Seyfarth Shaw LLP)


Plan Demographics, Participants' Saving Behavior, and Target-Date Fund Investments
Excerpt: "This analysis explores (1) whether plan demographic characteristics would affect individual participant contribution rates and target-date fund investments and (2) equity glide paths for participants in relation to plan demographics by considering target replacement income and its success rate." (Employee Benefit Research Institute)


Participant Target-Date Misconceptions
Excerpt: "'The Burden of Good Intentions: Opportunities and Challenges for Target-Date Funds Janus Capital Group,' based on a participant survey and a separate poll of plan sponsors, found a significant lack of understanding by many employees about how the funds operate. . . . Finally, in pinpointing the specific areas of participant misunderstanding, Janus found: More than 80% of respondents who rely on their employer and advice provided through their 401(k) believe that target-date funds need to be combined with others to achieve a diversified portfolio. Approximately 70% of respondents who rely on their employer, plan recordkeeper and advice provided through their 401(k) believe that combining target-date funds with other funds in their 401(k) plan is the preferred way to generate retirement income." (PLANSPONSOR.com; free registration required)



AIRE LLC (Advert.)

Enrolled Retirement Plan Agent (ERPA) Exams Open (clickable image)

Enrolled Retirement Plan Agent (ERPA) Exams Open

Retirement plan practitioners who seek the new Internal Revenue Service Enrolled Retirement Plan Agent designation and who now are ineligible to act as clients agents pursuant to IRS Form 2848 may register now. Register by July 6, 2009 and take the examination up to August 31, 2009. Get valuable resources to prepare for the ERPA special enrollment examination at www.airellc.org.

Links to Items on Executive Comp, Benefits in General

[Guidance Overview]
Overview of Expanded Section 409A Correction Program Now Underway Per IRS Notice 2008-113 (PDF)

Excerpt: "In Notice 2008-113, the IRS provides an expanded correction program and supersedes Notice 2007-100. Although obsolete for tax years beginning January 1, 2009, Notice 2007-100 may be relied on for errors occurring in tax years prior to 2009. The new expanded correction program continues to exclude relief for documentary failures, although the IRS has requested comments on whether this type of program would be feasible or advisable." (Buck Consultants)


Getting it Right in Reductions in Force: How to Minimize Legal Risks (PDF)
8 pages. (Employee Benefit Plan Review via Jones Day)


ERISA Advisory Council Announces Upcoming Meeting
Excerpt: "The U.S. Advisory Council on Employee Welfare and Pension Benefit Plans (also known as the ERISA Advisory Council) has announced their upcoming meeting on June 11, 2009. The agenda includes an update on the activities of the Labor Department's Employee Benefits Security Administration (EBSA) and determination of topics to be addressed by the 2009 Advisory Council. The advisory council meeting is open to the public. Anyone wishing to submit a written statement should do so by June 4, 2009[.]" (International Foundation of Employee Benefit Plans)


City and County Government Benefits Comparison Tool
Excerpt: "This tool allows you to compare retiree benefit data of localities of similar size and location. You will find: Detailed health care and pension data on the typical benefits cities and counties offer their retirees. How they pay or plan to pay for these benefits. You can search by population size; state; geographic region; size of the general fund revenue." (Center for State and Local Government Excellence)


IRS Semiannual Regulatory Agenda Includes Filing Solution for Schedule SSA
Excerpt: "The IRS has released its semiannual regulatory agenda for Spring 2009, which includes pension and benefit regulations that are currently under development or review." (Wolters Kluwer)


Governor Signs Bill Recognizing Domestic Partners in Washington State
Excerpt: "Washington Governor Christine Gregoire signed into law S.B. 5688, which essentially makes state-registered domestic partnerships the equivalent of marriages. Under the bill, domestic partners in Washington have to be treated the same as married persons for all purposes under state law (see Domestic Partners in WA Would Have More Rights under New Bill). The bill requires state agencies to amend their rules so those in registered domestic partnerships are covered by all privileges, immunities, rights, benefits and responsibilities applicable to married people under state law." (PLANSPONSOR.com; free registration required)



Webcasts and Conferences

Are Your Prepared for the Form 5500 Schedule C Changes? Webcast
Nationwide on June 4, 2009
presented by International Foundation of Employee Benefit Plans

Strategies for Managing Health Plans Through a Challenging Economy Webcast
Nationwide on July 9, 2009
presented by International Foundation of Employee Benefit Plans

(Click to post your webcast or conference)

Press Releases

IBI Research Finds Employers Severely Underestimate the Prevalence and Lost Productivity Costs of Depression
Integrated Benefits Institute

"Retirement Resource Guide" Published
Retirement Learning Center

(Click to post your press release)

Employee Benefits Jobs

Retirement Plan Administrators
for Pension Specialists, Inc.
in CA

Conversion Specialist
for EPIC Advisors, Inc.
in NY

Defined Benefit Calculation Analyst
for Diversified Investment Advisors, Inc.
in MA

(Click to post your job opening | View all jobs | RSS feed for jobs RSS feed of all jobs )


EmployeeBenefitsJobs.com (Sponsor)

(Click on banner to learn more.)
Where the best employers find the best candidates!

Where the best employers find the best candidates!


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