NIPA’s Webcasts are a great way to earn and fulfill your annual continuing education requirements. View NIPA’s Webcast line-up and enroll today to earn two NIPA and two ERPA CEs for each live or recorded Webcast you purchase. Upcoming Webcasts include: What Health Reform Means For Plan Sponsors and Businesses, on May 19; DOL Correction Programs, on May 26; and Strategic and Tactical Action Plan Creation Workshop, on June 3. Click here
for more information and to enroll today.
PBGC Seeing Increase in Litigation Against Agency by Participants, Official Says
Find title under 'Items of Interest' on the target page. Excerpt: "PBGC's Morris said many participants were unhappy about the difference in the amount of benefits they were expecting at retirement under their previously viable defined benefit plan and the amount they received after their plan was taken over by PBGC."
(Keightley & Ashner LLP)
A Comparison of Responses to the 2010 Investment Advice Rule
Excerpt: "The expectation is that the comments will be analyzed in short order and the final rule published later this year. To get an idea of how the final rule might go, we'll take a look at two of the comment letters submitted."
Georgia Retirees Get Relief from Tax on Retirement Income
Excerpt: "The tax cut would benefit more than 300,000 Georgians and make Georgia a more attractive location for retirees . . . . House Bill 1055 also eliminates the state portion of homeowner's property taxes, adjusts fees to help cover the actual costs of the services for which they are levied, and includes a 1.45% hospital provider payment that will allow the state to draw down additional federal dollars and increase Medicaid reimbursements to hospitals and other providers."
Pension Finance Update, May 2010 (PDF)
2 pages. Excerpt: "While liability increases outstripped asset gains for a typical pension plan during April, overall pension funded status has likely not changed much during 2010 for a typical pension sponsor with a traditional 60/40 allocation."
The Case for Requiring 401k Plans to Hire Actuaries
The Obama Administration has taken a step in the right direction by getting more employees to enroll in the plans. The least they can do is give Americans access to the math whizzes who help make pensions work in this country. If we choose to stick with the status quo, retirement is not an option for most Americans.
Need help with prototype document services, participant notices, or DC specialized testing services? We’ve got you covered. Averaging over 20 years of retirement plan experience per person, MassMutual’s ERISA Advisory Services team is truly a group of industry experts. While our clients benefit from a broad range of services, you can benefit from our expertise as well. For more information on how MassMutual’s ERISA consulting experts can help your company, contact EASConsulting@massmutual.com
Executive Compensation; Benefits in General
IRS Names Levine, Pozek to Advisory Committee on Tax Exempt and Government Entities
New members representing Employee Plans on the Advisory Committee are David N. Levine, a principal at Groom Law Group, Chartered, in Washington, D.C., and Adam C. Pozek, of Reading, Massachusetts. Pozek is Vice President, Consulting Services, for Sentinel Benefits & Financial Group.
(Internal Revenue Service)
Fewer Companies Are Making Relocation Policy Modifications This Year, According to Survey
Excerpt: "Companies . . . tightened up their policies on who gets relocated, such as by offering benefits to some employees and not others. In offering home-sale benefits, for example, the number of companies with tiered programs -- in which companies make offerings to one set of employees and not another -- jumped from 25 percent in 2009 to 42 percent in 2010."
(Human Resource Executive Online)
Employee Ownership Update for May 14, 2010
NCEO Executive Director Corey Rosen reports on the following: The IRS is going to require ESOP companies to submit written distribution policies. The 'Employee Stock Ownership Plan Promotion and Improvement Act of 2010' has been introduced in the U.S. House of Representatives. PBS NewsHour did a followup story on ESOP-owned SRC Holdings, showing how open-book management allowed it to grow and then survive the recession without a layoff despite a significant reliance on the automotive industry.
(National Center for Employee Ownership)
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