Retirement Plans Newsletter |
|
|
| December 2, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
ASC (Advert.)
Receive Year-End Census Files in a Snap! Gemini Plan Sponsor is a web portal where your clients can upload their year-end census files over a secure internet connection. It’s easy to use and can be customized on a client by client basis. You can also make a variety of forms and documents available for clients to download – both public and plan specific, over a secure connection. It’s safe, secure, convenient and affordable. For more information contact ASC sales@asc-net.com or call (800) 950-2082 x1. |
[Guidance Overview]
401(k) Plan Fees: A Discussion of DOL Initiatives, Recent Case Law, and Legislative Proposals
Excerpt: "This Article discusses recent governmental activity [by each of its three branches] regarding 401(k) plan fees. It begins by discussing three recent DOL initiatives governing the disclosure of plan fees: (1) the revision of Form 5500, and particularly Schedule C; (2) the proposed section 408(b)(2) regulations; and (3) the proposed section 404(a)/404(c) regulations. The Article then turns to the 401(k) plan fee litigation. Specifically, it discusses two leading decisions, Haddock v. Nationwide Financial Services and Hecker v. Deere, which represent opposite ends of the spectrum of judicial resolution of 401(k) plan fee disputes. Finally, the Article discusses recent legislative proposals to mandate greater disclosure of 401(k) plan fees." (Kathryn L. Moore of the University of Kentucky College of Law)
[Guidance Overview]
2009 End-of-Year Update on Required Retirement Plan Amendments
The article is written for users of Relius documents, but includes links to documents that contain lists of general interest to qualified retirement plan sponsors. (SunGard Relius)
Wal-Mart to Face 401(k) Class-Action Over Retirement Plan Investment Fees
Excerpt: "The suit alleges that Wal-Mart's pension and 401(k) administrator breached its fiduciary duty by offering retail funds rather than lower-cost institutional funds, which the company could have negotiated, being of such a large size. As a result, the suit alleges, investors lost tens of millions of dollars in retirement savings. The suit also says that seven of the 10 funds in the plan also charge 12b-1 fees, to the detriment of plan participants, and that the funds offered revenue-sharing incentives to be included in the plan. The case is significant because it serves more than one million participants, with nearly $10 billion in investments." (On Wall Street)
Controversial Wal-Mart 401(k) Fee Lawsuit Gets New Life
Excerpt: "Almost a year after a court dismissed a complaint against Wal-Mart over its 401(k) plan fees, an appeals court has brought the case back into play -- an indication that judges may be siding with individual investors over excessive mutual fund fees in retirement plans." (Workforce Management)
The Debate Over Target-Date Glide Paths
Excerpt: "The recent bear market has sparked a lively debate within some investment circles over the optimal glide path for target-date funds (TDFs). Some very vocal critics have argued that target-date portfolios should wind down their equity position as investors reach their designated retirement year. . . . Investors approaching and in retirement would consequently be invested in a conservative, low-risk portfolio. In contrast, a predominant school of thought argues that equity should play a more significant role in investors' allocations, even after they have retired." (Vanguard Institutional)
Survey: Impact of Economic Conditions on 403(b) Plans (PDF)
13 pages. Excerpt: "Of 365 organizations that offered a matching contribution on December 31, 2007, 16.4 percent suspended it, 9.3 percent reduced it, and 73.9 percent made no changes to it in 2008-2009. . . . Of 291 organizations that offered a non-matching organization contribution on December 31, 2007, 13.4 percent suspended it, 12.7 percent reduced it, and 73.9 percent made no changes to it in 2008-2009. No large organizations changed their non-matching contributions." (Profit Sharing/401k Council of America (PSCA))
The Case Against Retirement
Excerpt: "The Age of Retirement was one of America's most successful social reforms ever. But that era is over. A new vision of old age is emerging from the trauma of the credit crunch and the Great Recession: Forget retirement. Keep working." (BusinessWeek)
NTSAA (Advert.)
How to Succeed in the 403(b) Market! Expand your business in the lucrative 403(b) and 457(b) non-profit market. Learn what you need to know by attending the annual conference of the National Tax-Sheltered Accounts Association (NTSAA). The industry's top practitioners will show you how to not just survive, but thrive! For more information and to register, visit the NTSAA website or click here. The 2010 NTSAA Annual Conference...the place to be for 403(b)! January 27 - 30, Indian Wells, CA |
Links to Items on Executive Comp, Benefits in General
Using Company Stock to Motivate EmployeesExcerpt: "A recent survey finds that seven in 10 employers are using stock to motivate their employees -- and about half of them are issuing such equity to workers at the manager level. Potential problems with the practice, however, include possible dilution of the stock as well as the challenge of employee education" (Human Resource Executive Online)
Administrator Charged with Embezzling Tens of Millions from Union Benefit Plans
Excerpt: "[T]he announcement said, between 2002 and 2008, King caused at least $42.6 million to be transferred, in the form of checks, from the bank accounts of the Local 147 Funds into a bank account controlled by King Care, including the following approximate amounts per year . . . ." (PLANSPONSOR)
Weighing Whether to Give Part-Time Workers a Piece of the Benefits Pie
Excerpt: "With the current unemployment rate verging on 10%, and employers cutting costs as much as possible, part-time employment is being explored by individuals and companies alike." (Employee Benefit News)
Webcasts and Conferences
Understanding Your Responsibilities Under ERISA - Basics and More! Workshopin Georgia on February 3, 2010
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
“The New World of 403(b): Audits, Filing and Regulatory Compliance” Webinar
Nationwide on December 16, 2009
presented by Cammack LaRhette Consulting
(Click to post your webcast or conference)
Press Releases
Employers Plan to Increase Use of Self-Service Decision-Making Technology For Open Enrollment, Watson Wyatt Survey FindsWatson Wyatt
DataPath Reaches Out to Banks in Need of HSA Services with HSAToday®
DataPath, Inc.
Manhattan U.S. Attorney Charges Former Administrator Of Construction Workers Union Employee Benefit Plans With Embezzling Tens of Millions Of Dollars
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
US Department of Labor Announces $2.4 Million Grant to Provide Maryland, Alabama, Mississippi and South Carolina Workers with Health Insurance Payments
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Federal Court Holds Gulfport, Miss., Defendant Liable for More than $300,000 in Pension Assets Following Investigation by US Department of Labor
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Winding Down a Hard-Frozen Defined Benefit Plan
Principal Financial Group
ftwilliam.com Releases a Spanish Language Version of the Summary Plan Description
ftwilliam.com
(Click to post your press release)
Employee Benefits Jobs
Senior Pension Sales Consultantfor Executive Benefits Design Group
in ANY STATE, AK, AL, AR, DC, DE, GA, HI, IA, ID, IL, IN, KS, KY, LA, MD, MO, MS, MT, ND, NE, NM, OH, OR, SC, SD, TN, TX, VA, WV, WY
401(k)/DC Plan Administrator
for Hessel & Associates, LLC
in IL
Account Service Representative
for Pension Specialists, Inc.
in CA
Territory Sales Manager - Dallas
for Milliman
in TX
Pension Benefits Generalist
for City of Lakeland
in FL
Regional Compliance Manager - San Diego vicinity (work from home)
for OneAmerica Financial Partners, Inc.
in CA, WA
Implementation / Marketing & Sales Support Specialist
for Nova 401(k) Associates
in TX
TPA Firm Opening
for Sheffler & Martin, Inc.
in CA
(Click to post your job opening | View all jobs |
RSS feed of all jobs )
EmployeeBenefitsJobs.com (Sponsor)
(Click on banner to learn more.)
| 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
Subscribe to the BenefitsLink Health & Welfare Plans Newsletter, Too!
Sign-up form is at https://benefitslink.com/newsletter (free).
This email has been published by:
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
Jeanette Hull, News Editor
jeanette.hull@benefitslink.com
David Rhett Baker, J.D., Editor and Publisher
david.baker@benefitslink.com
Copyright 2009 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.
Anyone can receive these emails; just have them sign up at this web page: https://benefitslink.com/newsletter/
Other useful links: