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Aon Agrees to Pay $1.8M to Settle Stock-Drop Suit
Excerpt: "In addition to the $1.8 million payment, Aon agreed to retain for a period of at least five years an independent adviser or an independent third-party fiduciary to advise the plan fiduciaries regarding the plan's investment in Aon stock."
How to Tap Retirement Savings Early Without Penalty
Excerpt: "The law dictating when you can use your retirement money is straightforward: Funds withdrawn from an individual retirement account before age 59-1/2 are subject to a 10% hit. But the Internal Revenue Service permits a loophole, part of Section 72(t) of the federal tax code, where the penalty does not apply if the money is paid out in set amounts over time."
CalPERS Wants More Fee Cuts
Excerpt: "Fresh from winning fee concessions from private equity firm Apollo Global Management, the nation's largest public pension fund is hungry for more fee breaks. The California Public Employees' Retirement System hopes to win similar fee deals with all of the private equity firms it has 'significant' relationships with' . . . ."
Teacher Pensions in U.S. Are a Ticking Time Bomb
Excerpt: "What could be worse news than that public school teacher pensions across the country report an unfunded liability of over $330 billion? How about the fact that these reports understate the size of the liability by a factor of three?"
Meet some of the biggest pension and welfare benefit celebrities at the Western Benefits Conference! Get the latest on what's going on in the world of pension and welfare benefits from industry experts and IRS officials live in person! The Western Benefits Conference takes place July 18-20 in Los Angeles, CA and is a joint program by the Western Pension & Benefits Conference (WP&BC) and the American Society of Pension Professionals & Actuaries (ASPPA).
For a program listing and to register, visit www.westernbenefits.org today!
Executive Compensation; Benefits in General
Chart of DOL's 2010 Regulatory Agenda for Employee Benefit Matters (PDF)
3 pages. Excerpt: "DOL's agenda and related materials include 20 pending projects related to employee benefits, which are listed below in order of the projected timetable for next steps. (In the ordinary course, dates projected in the agenda may prove ambitious.) New projects highlighted by DOL are shown in bold."
Career Advice for the New(er) ERISA Lawyer
Excerpt: "Here are some tips: . . . Stay Current . . . Network . . . Master a Hot Topic . . . Never publish anything only once . . . Invite yourself to the party . . . Get a Life."
(BNA Pension and Benefits Blog)
Comments on Proposed Amendment to Bank Secrecy Act Regulations -- Foreign Account Reporting ('FBAR') (PDF)
April 27, 2010; 12 pages. Excerpt: "[T]he policy goals of the foreign account provisions of the Bank Secrecy Act -- to detect and prevent taxpayers from hiding assets offshore to avoid income taxes or launder money -- are not advanced by requiring U.S persons to file FBAR with respect to 'foreign financial accounts' held by or for the benefit of employee benefit pension plans, voluntary employee beneficiary associations ('VEBAs'), and individual retirement accounts . . . ."
(Groom Law Group)
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