This is the first conference designed by ERPAS for ERPAS! A one of a kind program developed from topic suggestions by current and potential ERPAs to provide practical solutions to the issues they face, the ERPA Conference offers up to 10.5 ASPPA, ERPA, JBEA and NIPA CPE credits, Ethics CPE credit, access to top speakers from the IRS, and networking with colleagues and fellow ERPAs.
For more details and registration, visit www.erpaconference.org today!
Supreme Court Affirms Plan Administrators' Interpretations of Plan Document Must Receive Deference
Excerpt: "The Court's broad pronouncement that providing deference to plan administrator interpretation supports ERISA's 'guiding principles,' even after an erroneous interpretation of the same or similar plan terms, should serve to further solidify the correctness of an arbitrary and capricious standard of review where the plan terms grant an administrator the power to interpret a plan's terms."
(McDermott Will & Emery)
IRS 403(b) Plan Update Phone Forum: April 30, 2010
Excerpt: "The 403(b) presentation will cover the past, present, and near future of 403(b) plans [followed by a brief recap of] the more significant changes brought about by the final regulations including a discussion of the written plan document requirement for 403(b) plans. [There will also be a discussion of] the upcoming Pre-approved Plan program that will, for the first time, allow 403(b) eligible employers to adopt prototype or volume submitter plans that receive an opinion letter or advisory letter, respectively, from the Service."
(U.S. Internal Revenue Service)
Minding the 401k Gaps
Excerpt: "Brooks Hamilton the well-known ERISA attorney, as a result of his decades of work with pension plans, describes three types of gaps or what he calls 'yield disparities'. There are at least 5 other gaps, all of which hurt the opportunity for employees to have meaningful future retirement income."
Proposed Legislation Threatens Florida Retirement System
See item #6. Excerpt: "[The defined benefit plan] is in serious jeopardy if the Florida Legislature makes changes that would make FRS participants 'gamblers' in the stock market without the requisite knowledge and skills to maximize their investments."
(Cypen & Cypen)
Discussion on Retirement Savings' Accumulation, Decumulation, and Distribution
Excerpt: "In the early-2000s, the financial industry was slow to address the growth potential of the transition from accumulation to decumulation. Consensus naming conventions reflect this slowness of adaptation. Accumulation is a consensus naming convention, so are the words: investment management, investment management professional, investment advisor, and asset allocation. On the other hand, decumulation and distribution do not feel like consensus naming conventions because research shows that many retirees are net savers and the word 'distribution' can be confused for what the sales channels do."
Conkright v. Frommert: The Justices Make Mistakes
Excerpt: "Lost in our jurisprudence is what the Chief Justice apparently thinks is ERISA's secondary purpose: making sure participants receive the benefits that they are promised or, I would add, the benefits which they reasonably understood they were promised. That's why plans are supposed to be in writing and summarized fairly in SPDs."
(Pension & Benefits Blog)
Target-Date Fund Glide Paths: Dissecting the 'To Versus Through' Debate
Excerpt: "'A critical factor in glide path design is recognizing that most pre-retirees and recent retirees still have the ability to alter their retirement plans -- though far less than younger investors -- if absolutely necessary. And even after the age of 72, investors should still have modest exposure to equities in their target-date funds to diversify their portfolios and help them realize their long-term goals,' . . . ."
(The Vanguard Group, Inc.)
Executive Compensation; Benefits in General
2010 ERISA Expanded Reporting and Disclosure Requirements Calendar
27 pages. Excerpt: "The [calendar] provides who-what-when-where reporting and disclosure information for single-employer pension and welfare plans under ERISA. Plan administrators can access concise instructions for filing reports with the Department of Labor, IRS and Pension Benefit Guaranty Corporation, and for disclosing tax and benefit information . . . ."
What a Difference a Day Makes, or Does It? Work/Family Balance and the Four-Day Work Week
Excerpt: "This Article considers the growing reliance that four-day work week advocates have placed on work/family claims. It begins by analyzing whether a compressed work schedule may alleviate work/family conflicts, and more importantly, for whom such benefits are most likely to accrue. While studies consistently find that many workers experience lower levels of work/family conflict when working a compressed schedule, the research also suggests that workers with the most acute work/family conflicts may be the least likely either to obtain or to benefit from a four-day work week design."
(Social Science Research Network)
No Mere Perk: Flex-Work as a Strategic Tool
Excerpt: "Researchers say flexibility is a critical but overlooked factor in making work work. An award program seeks to recognize firms who achieve strategic results with the use of flexible work."
(Workforce Management; free registration required)
Incentive Plans Are of Continued Importance, According to Survey
Excerpt: "Over the past decade, incentive plan designs have become more consistent within organizations. As more companies offer a single annual plan for both executives and other employees: More companies are altering their eligibility requirements. Executive-only incentive plans are now in the minority. The most common eligibility factor is salary grade or band -- not position title, reporting relationship or officer status as in the past."
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