Pension Reporter System. Easy to use PC based software for EFAST2 electronic filing. Full instructions and expert support. Choose from 4 modules:
- Annual Reporting Series: EFAST2 5500-series, PBGC Premium-series, SAR + all schedules and attachments
- 1099-R Series: with related forms and 1099 electronic filing/Service Bureau
- Qualification & Termination: 5300/5310-series and PBGC 500/600-series forms
- FAS 132/158: Audit Letter, Worksheets, Schedules
or call (888) 324-2474
EFAST2: Confusion on Short Year Filing
Excerpt: "Since the 2008 Form 5500 Instructions, the DOL has told us that plans having a short plan year beginning in 2009 and ending no later than May 31, 2009 could either (1) file their 2009 form 5500 on paper (using 2008 forms), or (2) file electronically within 90 days after the EFAST2 system became available (December 31). Unfortunately, confusion has resulted on both fronts. The good news is that the DOL is trying to make it right."
Insurers Test Market as Obama Opens Door for 401(k)s
Excerpt: "Insurers and mutual-fund companies are starting to sell retirement accounts with built-in annuities in response to concerns Americans will outlive their savings. President Barack Obama on Feb. 1 called for a change in government rules to allow adding annuities to 401(k) retirement plans. While the annuities offer a steady stream of income in exchange for upfront payments, the price for peace of mind may be higher fees and less access to cash."
(Bloomberg L.P. via BusinessWeek)
401(k) Fee Litigation, February 2010
Excerpt: "In addition to the lawsuits against plan sponsors, lawsuits have been brought against 401(k) plan service providers. These cases typically are based on allegations that the service providers are 'functional fiduciaries' under ERISA. [The outline and the chart are attached to the target page.]"
(Groom Law Group)
Real Facts About Target Date Funds in Response to ICI's Myths and Facts (PDF)
9 pages. Excerpt: "In January, the Investment Company Institute . . . released a set of 6 'Myths' about Target Date Funds. The ICI list misrepresented many of the basic facts about target date funds and painted an overly rosy picture of the target date fund marketplace. This paper intends to set the facts straight. In so doing we received comments and thoughts from Joe Nagengast and Craig Isrealsen of Target Date Analytics and from Independent Fiduciary Matthew Hutcheson. This paper will look at how target date funds fit into America's retirement picture and address the 6 'Myths' identified by the ICI."
Burlington, Vermont, Files FINRA Complaint against Morgan Stanley
Excerpt: "The city of Burlington, Vermont, has filed a regulatory complaint against Morgan Stanley alleging that the firm's consultants sold the city pension fund investments that caused it to lose $21 million. . . . The city made public its complaint with the Financial Industry Regulatory Authority (FINRA) after getting City Council approval to file the FINRA action."
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
Connecticut Pension Body Files Executive Pay Proposals
Excerpt: "Connecticut State Treasurer Denise L. Nappier, principal fiduciary of the $22.7-billion Connecticut Retirement Plans and Trust Funds (CRPTF), announced that the CRPTF filed shareholder proposals at twelve major corporations to strengthen executive pay practices."
Washington, D.C. Update: The Feds Have a Full Employee Benefits Agenda (PDF)
5 pages. Excerpt: "In recent months, we have spent a considerable amount of time talking with government officials at the Departments of Treasury and Labor, as well as congressional staff members, concerning regulatory and legislative developments in Washington, D.C. The purpose of this bulletin is to bring you up to date on those subjects."
(Reish & Reicher)
Webcasts and Conferences
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