Retirement Plans Newsletter
January 14, 2010

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2010 Orlando Advanced Pension Conference

2010 Orlando Advanced Pension Conference

Early bird discount ends January 18. With a new administration in Washington, and a volatile economy, change is the only constant for retirement plan practitioners. Stay current, attend this important conference. Our agenda focuses on the most pressing pension issues, including: EFAST2, keeping current, Washington update, plan design, lost participants, restatement pitfalls and perspectives, beneficiary issues, 403(b) plans, Roth rollovers, and more. Plus, "Ask the Experts" workshop, concurrent sessions, and over 900 minutes of CE credits.
Register today and save $150.

SunGard’s Relius Education – Educational Resources for Employee Benefits Professionals

[Official Guidance]
Listing of IRS Published Guidance for January-December 2009

The target page links to guidance published by the Service relating to retirement plans: Treasury Regulations; Revenue Rulings; Revenue Procedures; Notices; and, Announcements. (U.S. Internal Revenue Service)

[Official Guidance]
Text of DOL Final Regulations on Participant Contributions, Loan Repayments; 7-Day Safe Harbor for Small Plans (PDF)

Typeset Federal Register version. 10 pages. Excerpt: "This document contains a final regulation that establishes a safe harbor period during which amounts that an employer has received from employees or withheld from wages for contribution to certain employee benefit plans will not constitute 'plan assets' for purposes of [ERISA], and the related prohibited transaction provisions of the Internal Revenue Code. This regulation will enhance the clarity and certainty for many employers as to when participant contributions will be treated as contributed in a timely manner to employee benefit plans. This final regulation will affect the sponsors and fiduciaries of contributory group welfare and pension plans covered by ERISA, including 401(k) plans, as well as the participants and beneficiaries covered by such plans and recordkeepers, and other service providers to such plans." (Employee Benefits Security Administration, U.S. Department of Labor)

[Guidance Overview]
DOL Gives Small Employers Seven Days to Deposit Retirement Plan Contributions

Excerpt: "The U.S. Department of Labor (DOL) announced the publication of a final rule to protect employee contributions deposited to small pension and welfare benefit plans with fewer than 100 participants." (

[Guidance Overview]
DOL Final Small Plan Contribution Safe Harbor Rules

Excerpt: "As under the Proposed Regulations, the Final Regulations require that all plans deposit employee contributions to both retirement and welfare plans as soon as the money can be segregated from the employer's assets, but no later than the 15th business day of the following month. Many employers mistakenly believed that the rule meant they could wait until the later of those two events, but in fact it always meant the earlier of the two." (Kushner & Company)

[Guidance Overview]
EFAST2: Paper 5500 Option No Longer Available for 2009

Excerpt: "Recently, we were contacted by the DOL and informed that some preparers were continuing to file paper copies of the Form 5500 for short 2009 plan years. The DOL also informed us that preparers were continuing to contact the EFAST Contact Center attempting to obtain permission to file paper copies of the Form 5500. With the exception of 2008 plan years, the option of filing paper copies of the Form 5500 has expired. The DOL expects plan sponsors now to file electronically under EFAST2. In this technical update, we address the questions regarding the paper option for filing a Form 5500." (SunGard Relius)

[Guidance Overview]
Be Prepared for the New Form 5500: More Sponsor Involvement Will Be Required

Excerpt: "[A]s both the content and filing changes will result in processes very different from the past, it is important than sponsors contact their recordkeepers and TPAs soon to discuss the Form 5500 filing process with them. Sponsors should also be prepared to receive required information from all of their providers beginning in March and April." (Profit Sharing / 401k Council of America)

[Guidance Overview]
Required Minimum Distributions are Back

Excerpt: "[W]hen using the IRS tables to calculate your RMD, it is important to remember to use the account value as of December 31st of the previous year but your age as of the current year. So, the account value springs 'back' but your age springs 'forward'." (The Boston Globe)

[Guidance Overview]
Get Prepared for the Fed's Focus on Plan Expenses

Excerpt: "A soon to be announced change in ERISA Section 408(b)(2) will demand unprecedented disclosures of information by firms that deliver services to ERISA plans. The disclosures that will be [required] will focus on compensation paid to [a] plan's service providers, both direct and indirect, and their conflicts of interest with [that] plan." (Roland|Criss)

Results of the Roth 457 Survey (PDF)
2 pages. (National Association of Government Defined Contribution Administrators, Inc.)

PBGC Extends Protection to Pensions of Eight Companies Since End of December
Excerpt: "The underfunded pension plans of eight companies with a combined US$236.3m in assets have fallen into the Pension Benefit Guaranty Corporation in less than a month. The PBGC has estimated it would be responsible for an extra US$314m in pension liabilities." (Global Pensions)

Researchers Claim Dartmouth Retirement Savings Participation Success
Excerpt: "Researchers studying how best to get women and low-income workers to save for retirement were able to achieve a 56% enrollment hike among their target audience at Dartmouth College." (

New ERISA Class Action Filed Against Sterling Savings
Excerpt: "The lawsuit, filed in United States District Court, claims that the bank and its holding company failed to protect employees' investment in company stock through the company's 401(k) Plan. The lawsuit alleges that Sterling's stock price has imploded as the result of ill-advised commercial real estate, construction and land loans, improper accounting and inadequate capitalization." (The Benefits and ERISA Observer)

The ASPPA 401(k) Summit | March 14 – 16, 2010 | Orlando World Center Marriott Resort

The ASPPA 401(k) Summit | March 14 – 16, 2010 | Orlando World Center Marriott Resort

The ASPPA 401(k) SUMMIT is bigger and better than ever in 2010! Expect 140 exciting exhibits in the hall, dozens of top-notch workshop sessions like "Plan Designs for the Age of Obama," and the presentation of the prestigious Morningstar-ASPPA 401(k) Advisor Leadership Award. The SUMMIT offers 14 hours of ASPPA Continuing Education (CE) credit and is designed to comply with various CE programs, including ERPA CPE.

For more information and to register, click here: The ASPPA 401(k) SUMMIT.


Executive Compensation; Benefits in General

[Guidance Overview]
SEC Final Enhanced Compensation and Corporate Governance Disclosure Requirements

Excerpt: "Note that the SEC stated in the release that under the current CD&A disclosure rules, to the extent that risk considerations are a material aspect of the company's compensation policies or decisions for its named executive officers, the company is required to discuss them as part of the CD&A and will continue to be required to discuss them in the CD&A after the adoption of these amendments." (Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C.)

Webcasts and Conferences

2010 IRA and HSA Webinars
Nationwide on January 12, 2010
presented by Collin W. Fritz & Associates, Ltd.

409A Document Correction - How Employers Can Take Advantage of a New IRS Program (Webinar)
Nationwide on January 26, 2010
presented by Ogletree Deakins

Health and Welfare Regulatory Update: New Regulations and Procedures
in New York on January 28, 2010
presented by International Society of Certified Employee Benefits Specialists - NY Metro Chapter

§409A: New Document Corrections Program for Nonqualified Plans
Nationwide on January 28, 2010
presented by BNA, Inc.

(Click to post your webcast or conference)

Press Releases

U.S. Department of Labor Sues Defunct Clarks Summit, Pennsylvania, Company to Recover Benefit Plan Assets
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

U.S. Department of Labor Sues Administrators of Elk Grove, Illinois, Company to Recover Former Employees’ Health Care Contributions
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

ASPPA Adds Experts to Recordkeeper Certification Program
American Society of Pension Professionals & Actuaries (ASPPA)

Veritas Risk Services Launches Health Insurance Captive Program for Equipment Dealers and Distributors
Veritas Risk Services

(Click to post your press release)

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Newly Posted Employee Benefits Jobs

Administration Team Leader
for Freedom One Financial
in MI

Retirement Plan Account Manager II
for Boston Financial Data Services
in MA

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