DATAIR’s DC/Win System for Allocations, Discrimination Testing, and Proposals. Handles New Comparability Plans, Sole Proprietorships, 401(k) and 403(b) plans. Use with our DB System for Cash Balance and Combo Plans. Expert support. DC/401(k) System includes:*
Downloads from many allocated account fund providers *
Automated loan processing
Flexible data import/export
Interface with DATAIR's 5500/1099R email@example.com
or call 1-888-328-2474
What Does a 403(b) Plan Sponsor Need to Have in Order to Have a Compliant Program?
Excerpt: "Regardless of the help they get from others, the responsibility for compliance ultimately lies with the plan sponsor. 'As part of the process of bringing the plan into compliance and keeping it in compliance, [sponsors] have to take their role seriously, including in the process of hiring service providers,' . . . ."
New 5500 E-Signature Option
Excerpt: "The form preparer must register for signing credentials at the DOL EFAST2 registration website."
Equity Risk and Time: A Survey of U.S. Investors (PDF)
Excerpt: "New Vanguard research shows that 3 in 10 believe stock market risk always declines over time, while 6 in 10 take either a measured or skeptical approach to equity risk. The rest are unsure about the impact of risk. Importantly, the research found that these beliefs about risk and time are strongly linked to a household's decision to invest any savings in the equity market and also influence trading behavior and expectations for future returns."
(The Vanguard Group, Inc.)
GASB Has Big Changes in Mind for the Accounting Rules Pension Plans Use
Excerpt: "The Governmental Accounting Standards Board (GASB) is preparing to release officially its Preliminary Views on its controversial pension accounting project in June. A current posting on its website with recent minutes tells us to expect some big changes with huge financial impact, if their current thinking works its way ultimately into the accounting standards."
CalPERS Retreats on Request for More Taxpayer Funding
Excerpt: "Facing political fire, the state's largest public pension fund Wednesday retreated for a month from a plan to approve a $700-million increase in taxpayer contributions it gets from the state and about 1,000 school districts. State Treasurer Bill Lockyer, a member of the California Public Employees' Retirement System board, said the fund needs to assess the consequences of the huge hike on California at a time when the state faces an estimated $19-billion budget deficit."
(Los Angeles Times)
401(k) Plan Balances Surge, According to Study
Excerpt: "The average account balance jumped 41% to $66,900 as of March 31, up from $47,500 at the end of March in 2009, said Fidelity Investments, a Boston-based 401(k) plan administrator and mutual fund provider."
Ways the 401(k) Could Be Improved
Excerpt: "Most retirement savers think their 401(k) could use a few improvements. Employees would like all companies to offer retirement accounts and would appreciate more advice about how to save and invest for retirement, according to a recent ING U.S. Retirement Services and Ipsos Public Affairs telephone survey . . . ."
(U.S. News & World Report)
Social Security and the Budget
Excerpt: "In contrast to rising health care and interests costs, Social Security's growing benefits relative to taxes received represent only a modest part of the nation's major fiscal problems. Nonetheless, Social Security serves as the flagship of social welfare policy, and it places increasing demands on the economy as annual benefits grow, life expectancies increase, and the baby boomers retire."
New Rules for Pension Boards are Needed
Excerpt: "A law that imposes strict personal fiduciary liability on board members who continue to stray will help rein in negligent behavior. If their life savings are placed at risk without the protection of indemnification and directors' insurance, they will clean up their act. Vigilance will become the watchword. The laws should also strip negligent trustees of voting rights and ultimately require their removal for fiduciary violations."
ASPPA has partnered with the Institute for Pension Plan Management at Indiana University-Purdue University Fort Wayne (IPFW) to offer convenient webcourses leading to a number of credentials, including your QKA and QPA. Registration includes all 7 sessions for each webcourse. Individual classroom or corporate viewing options are available at incredible prices!
Visit www.asppa.org/webcourse for more information and pricing.
Executive Compensation; Benefits in General
IRS Issues Final Rule on Qualified Non-Personal Use Vehicles
Excerpt: "The IRS has added an item to the list of government-owned vehicles public employees may use for personal purposes occasionally without triggering the need to keep records of business vs. personal use. Effective May 19, the IRS will recognize 'clearly marked public safety officer vehicles' as qualified nonpersonal vehicles that enjoy an exemption . . . of the regulations, regardless of whether the employee using them is a fire or police department employee."
(Thompson Hine LLP)
Recouping Executive Pay: The Rise in Popularity of Clawbacks
Excerpt: "Clawbacks are being endorsed by shareholders and legislators as significant corporate governance tools to deter management from taking actions that could potentially harm the company's financial position; the objective is to eliminate - or, failing that, at least recapture - undeserved payouts to executives."
10 Trends That Are Changing the Shape of Workplace Benefits
Excerpt: "[E]stablishing and maintaining benefit programs that are competitive and distinctive requires an awareness of trends in the marketplace, in the population, in the legislative and regulatory worlds, and in the needs of the workers you hope to attract and retain. While product development and enhancements certainly can play a role, there are also the overarching issues that drive and shape those developments."
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