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Retirement Plans Newsletter
December 30, 2009 
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How to Succeed in the 403(b) Market!
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Report Identifies Gaps in Retirement Planning Software
Excerpt: "A new report suggests the majority of available financial planning tools are still not effectively addressing the wide range of individual issues related to retirement." (PLANSPONSOR.com)
The 403(b) Prohibited Transaction
Excerpt: "The first, and most important, point is a 403(b) plan is NOT a plan defined under IRC Section 4975(e)-which means that 4975 and its related excise taxes does NOT apply to 403(b) plans. There is no 'disqualified person;' there is no 'non-exempt transaction' that is reportable under Schedule G, Part III of the Form 5500; and no Form 5330 needs to be filed." (Robert J. Toth, Jr)
Use the Liability Reduction Model to Value a Client's Pension or Social Security Benefits
Excerpt: "How do you value your retired client's defined-benefit pension and Social Security income? Do you treat them as bonds in a client's asset allocation? If so, how do you price them? Or, perhaps you leave these assets out of the portfolio asset allocation decision altogether. Defined-benefit pensions and Social Security benefits do not have par values and they do not have maturities. They only have an income stream that itself may be questionable." (Financial Planning)
Getting Retirement Portfolios Back on Track
Excerpt: "As markets continue to recover and the economy shows signs of stabilization, financial advisors are left to contemplate the new retirement planning landscape. Previous assumptions about asset allocation, diversification and the appropriate levels of risk in portfolios are being challenged." (On Wall Street)
Minimum Funding Rules As Explored at Actuarial Meeting (PDF)
Pages 6-7 of 8 pages. Excerpt: "At the 2009 Enrolled Actuaries Meeting, Chet Andrzejewski and Jess McGrath led a session that addressed a number of these issues, including contribution timing, credit balances, quarterly contributions, liquidity shortfall calculations, penalties for failing to making contributions, and small plan rules." (American Academy of Actuaries)
'Withdrawal Liability' in a Multiemployer Pension Plan (PDF)
Pages 2-3 of 8 pages. Excerpt: "A multiemployer plan with assets that are lower than its liabilities has one of these creatures, but unless and until a contributing employer withdraws (hence the name) from the plan, it's an interesting but easy-to-ignore figure." (American Academy of Actuaries)
Academy Presents Two Views on GASB Inquiry (PDF)
Pages 1, 3 of 8 pages. Excerpt: "The Academy's Pension Practice Council commented in August on efforts by the Government Accounting Standards Board (GASB) to consider updating governmental pension accounting standards. GASB issued" (American Academy of Actuaries)
State Correctional System Officers' Retirement Programs: Results from a 50-state survey
Excerpt: "These were the survey questions: 1. Do you have a separate system for correctional officers? If so, are only correctional officers in this system, or are other groups included (i.e. parole and probation officers)? 2. What are the age and service requirements for correctional officers to receive an early and normal service retirement benefit? 3. What is the benefit formula for a service retirement for correctional officers? 4. Do you offer your correctional officers a DROP (Deferred Retirement Option Program)? 5. What is the average age, average years of service, and average benefit for a correctional officer at the time of retirement?" (National Conference of State Legislatures)
Suit by a Virgin Islands Pension Fund Claims Bank Knew Investments Were Bad
Excerpt: "The lawsuit filed Dec. 24 in a Manhattan federal court accused Morgan Stanley of collaborating with the credit rating agencies Moody's Investors Service and Standard & Poor's to obtain triple-A ratings for notes sold in 2007 as part of a collateralized debt obligation, or C.D.O., known as Libertas." (The New York Times; free registration required)
[Opinion]
As Times Change, Should Our Assumptions? (PDF)
Excerpt: "With the new funding methodology and prescribed assumptions mandated by the Pension Protection Act of 2006, some of the traditional discretion in the selection of assumptions has vanished. However, there are still assumptions that remain within the professional judgment of the actuary." (James Turpin via American Academy of Actuaries)
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Executive Compensation; Benefits in General
[Guidance Overview]SEC Enhancements to the Current Proxy Disclosure Requirements (PDF)
7 pages. Excerpt: "The new rules will require a company to disclose or enhance its disclosure of: compensation policies as they relate to risk; potential conflicts of interest with regard to compensation consultants; stock and option compensation awards; director and nominee qualifications and background; diversity policies relating to board membership; the rationale behind company leadership structure; and shareholder voting results on Form 8-K." (Sutherland Asbill & Brennan LLP)
[Guidance Overview]
SEC's Disclosure Rules for Executive Compensation and Corporate Governance (PDF)
7 pages. Excerpt: "The amendments will generally apply to disclosure for the 2010 proxy season. If a company's fiscal year ends on or after December 20, 2009, its Form 10-K and proxy statement filed on or after February 28, 2010 must meet the new disclosure requirements." (Haynes and Boone LLP)
Employee Benefits Developments, December 2009
Excerpt: "A brief look at developments in Employee Benefits law from November and December 2009, including cases, rulings, and opinions." (Hodgson Russ LLP)
Webcasts and Conferences
2010 Enrolled Actuaries Meetingin District of Columbia on April 10, 2010
presented by American Academy of Actuaries
(Click to post your webcast or conference)
Press Releases
Actuaries Urge More Long-Term Planning and Sophisticated Tools to Address Retirement RisksSociety of Actuaries
PBGC Moves to Protect Pensions at Ronson Corp.
Pension Benefit Guaranty Corporation (PBGC)
Wasatch Funds Added to CPI Retirement Platform
CPI Qualified Plan Consultants, Inc.
(Click to post your press release)
Newly Posted Employee Benefits Jobs
Product Development Manager-Employee/Group Benefitsfor AUL/OneAmerica Financial Partners, Inc.
in IN
Senior Plan Administrator
for Mid Size New York City TPA
in NY
RS Education & Enrollment Spec - Mobile, Alabama
for Prudential
in AL
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