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
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Title IV Basics: The Plan Termination Insurance Program (PDF)
7 pages. Excerpt: "Title IV of [ERISA] describes the plan termination insurance program that covers defined benefit pension plans. [This article] outlines the basics of plan termination and liability . . . including liability for the PBGC termination premium."
(Groom Law Group)
Retirement Income: Challenges for Ensuring Income Throughout Retirement
Excerpt: "One key decision for many retirees is to choose between continuing to manage self-directed investment balances and using all or a part of the balance to purchase an annuity that would provide income for the remainder of their lives."
(U.S. Government Accountability Office)
Current Retirement Income Options Have Drawbacks, According to GAO
Excerpt: "Following the deadline for responses to the Department of Labor and Treasury Department's Request for Information on lifetime income options in retirement plans, the Government Accountability Office has issued a letter detailing its findings on options outside of retirement plans."
PBGC's 2009 Annual Report (PDF)
83 pages. Excerpt: "PBGC's financial condition declined by $10.8 billion, due largely to an increase in plan terminations and an unfavorable change in interest factors used to value PBGC's liabilities. The Corporation reported a year-end deficit of $21.9 billion, as compared with the $11.2 billion deficit reported at the close of FY 2008."
(Pension Benefit Guaranty Corporation)
Pension Fund Cleared to Sue Ratings Firms
Excerpt: "[The California Public Employees' Retirement System] sued Standard & Poor's, Moody's Investors Service and Fitch Ratings, saying that their faulty risk assessments on structured investment vehicles caused $1 billion in losses."
(Bloomberg via The New York Times; free registration required)
401(k)s Won't Fully Fund Worker Retirement, According to Survey
Excerpt: "Only 19 percent of employers have a top priority of providing employees with the financial ability to retire. Just 10 percent of the employers in the survey project each employee's retirement income and compare it to their expected retirement needs."
(U.S. News & World Report)
Many Alternatives to Annuities, Advisers Say
Excerpt: "Jeffrey G. Cribbs, president of Chicago Wealth Management Inc. . . . championed the use of a long-term, simple moving average to decide when to increase or decrease allocation to the markets to help dodge large losses."
(Investment News; free registration required)
U.S. House Republicans Warn Against Altering 401(k) Tax Breaks
Excerpt: "Republican lawmakers are concerned that implementation of 'guaranteed retirement accounts' could mean favorable tax breaks designed for 401(k)-type plans would be eliminated, and those funds would in turn be used to offset costs associated with the creation of GRAs."
(Dow Jones & Company, Inc.)
GOP Group Opposes Administration Proposals for Retirement Plans
Excerpt: "The House GOP Savings Recovery Solutions Group . . . oppose[s] proposals that would affect private-sector defined contribution retirement plans [and took issue with] the creation of so-called 'Guaranteed Retirement Accounts, (GRAs)' which would provide for protection from 'inflation and market risk' and potentially 'guarantee a specified real return above the rate of inflation' - presumably at taxpayer expense."
401(k) Fees That Shouldn't Matter
Excerpt: "The DOL's draft Investment Advice Rule . . . states investment advice should emphasize fees over past investment performance. Unfortunately, the draft does not distinguish between fees that matter and fees that shouldn't matter."
(Pandamensional Solutions, Inc.)
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!
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