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Retirement Plans Newsletter

February 12, 2010

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DB Administration, Discrimination Testing and Proposal software with Multiple Plan and Cash Balance Plan handling. PPA’06 Pension Funding.
* Funding Target and Target Normal Cost with 3-rate segments
* 404(o) Cushion; 430 minimum and 404(o) maximum contributions
* Funding Target Attainment Percentages (FTAPs)
Schedule SB reports and links to our 5500/PBGC System, and our FAS 158 and Termination Calculation reporting systems. or call 1-888-328-2474

2010 403(b) Plan Buyer's Guide
Excerpt: "Recognizing the depth of need and the breadth of resources called for in this 'new' environment, the first-ever PLANSPONSOR 403(b) Buyer's Guide asked providers of any type of service to respond. Consequently, here you will find a variety of providers, from attorneys to plan advisers, TPAs, investment providers, and those who offer audit services. In addition, some responding providers serve all market segments, while others serve only one or two, or only ERISA or non-ERISA plans."

Year-End 2009 Discount Rates for Retirement Plans
Excerpt: "At the end of 2008, credit spreads were at historical highs, weighing heavily on pension discount rates. One year later, as those credit spreads have returned to more precedented levels and the yield curve is again upward-sloping, we look at discount rates again vis-a-vis the J.P. Morgan Aa Yield Curve."
(J.P. Morgan Compensation and Benefit Strategies)

Hot Topics in Retirement 2010: Survey Results
Excerpt: "More than 160 mid- to large-size employers were asked about the actions they plan to take during 2010 with respect to the design, management, and delivery of their retirement programs. Included were questions focusing on defined benefit, defined contribution, and retiree medical plans covering U.S. salaried employees."
(Hewitt Associates)

A Local Massachusetts Retirement Board Transferred 39 Retiring Workers to Another Job for 1 Day to Increase Pension Benefits
Excerpt: "The Essex Regional Retirement Board transferred dozens of public employees to the Manchester Housing Authority for their last day of work in a bold attempt to qualify them for both a government pension and Social Security benefits."
(Gloucester Daily Times)

Another Question is Answered in the 401(k) Plans Q&A Column
Can a Code Section 501(c)(5) tax-exempt agricultural organization sponsor a 401(k) plan?

High 401(k) Fees Are a Problem But There Are Bigger Issues to Worry About
Excerpt: "If individuals and their employers really care about retirement readiness, they should be focusing on a whole host of factors that typically carry more weight than fees, says Kmak. These factors include your expected retirement age; the age at which you start saving; your rates of return before and after retirement; whether you cash out or roll over your 401(k) when you switch jobs; and how much you and your employer contribute on an ongoing basis."
( LLC)

The Evolution of Plan Participant Investment Direction
Excerpt: "Participant direction will continue to be a standard 401(k) feature even as 401(k) plan design and practice continues to evolve."
(Profit Sharing / 401k Council of America)

Some Observations About What to Expect in the Financial Services Industry in 2010 and Beyond
Excerpt: "Sponsors want nothing: no cost, no work, and no liability. . . . [A]dvisers who deliver 'nothing' - especially less risk of fiduciary liability with participant lawsuits looming - will be in hot demand, especially if they can also help better prepare participants for retirement."
(Employee Benefit Adviser; free registration required)

Recovery in Target Date Funds? (PDF)
4 pages. Excerpt: "The evidence clearly supports our contention that target date fund managers should stick to their core mandate, prudently managing participant assets during the accumulation phase, and give up the unsupportable claim that they must manage to participant death. That claim is becoming increasingly transparent as a thinly disguised justification for trying to hold on to participant assets."
(Target Date Analytics LLC)

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]
IRS Rules that Employer-Provided Clothing Is Not Wages Under Some Circumstances
Excerpt: "In Private Letter Ruling 2010-05014, the Internal Revenue Service (IRS) held that an employer could exclude the value of employer-provided clothing and related accessories from its employees' wages as a de minimis fringe benefit."
(Littler Mendelson P.C.)

Lawmaker Says Federal Teleworkers Should be Rewarded During Closings
Excerpt: "U.S. Representative Gerry Connolly (D-Virginia) wants the Office of Personnel Management to consider incentives for employees who work remotely while the government is shutdown."

Webcasts and Conferences

"EFAST2: A New Decade in Plan Reporting" Archived Web Seminar
Nationwide on February 11, 2010
presented by SunGard Relius

401(k) Plan Basic Operation
in California on May 4, 2010
presented by Actuarial Consultants, Inc.

Annual Plan Administration Basic Training
in California on May 4, 2010
presented by Actuarial Consultants, Inc.

Important and Expanded Retirement Planning Techniques (Including Unlimited ROTH IRAs and Non Spouse Beneficiary Rollovers)
in New York on February 18, 2010
presented by WEB (Worldwide Employee Benefits Network ), New York Chapter

Which Way Is Up? An Economic Update
in New York on February 23, 2010
presented by International Society of Certified Employee Benefit Specialists - NY Metro Chapter

Press Releases

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Newly Posted Employee Benefits Jobs

Software Customer Support
for DATAIR Employee Benefit Systems, Inc.
in IL

Daily Retirement Plan Administrator
for CMC Interactive, LLC
in NY

for Prestigious Mid-Long Island New York Firm
in NY

Senior DC/401(k) Plan Administrator
for Shore Tompkins Actuarial Resources, LLC
in IL

Health and Welfare Fund - Supervisor
for Multi-Employer Union Benefits Fund in Astoria, New York
in NY

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