Defined Benefit Funding Relief, DC Fee Disclosure Included in Tax Bill
Excerpt: "The bill is expected to go to a vote in the House as soon as May 25, and if approved, then go to the Senate floor as soon as May 28."
(Pensions & Investments; login or registration may be required)

[Opinion]
401(k) Fee Disclosure and Pension Funding Provisions of H.R. 4213
Excerpt: "Workers should have the right to know how much Wall Street intermediaries siphon off from their savings. Provisions included in H.R. 4213 regarding fee disclosure were based on the 401(k) Fair Disclosure and Pension Security Act, which was authored by Chairman Miller and approved by the Education and Labor Committee last year."
(U.S. House Committee on Education & Labor)

Start Saving Early, and Keep an Eye on Shifting Needs
Excerpt: "[F]ormulate a reasonable savings plan early on, but one that doesn't require you to suspend your life until retirement."
(The New York Times; free registration required)

Building a DC Investment Menu in a Changing Risk Environment (PDF)
8 pages. Excerpt: "Limiting investment options . . . to core, growth, and value investment styles in each asset class is likely to be a better selection set for participants than several core options in each class."
(National Association of Government Defined Contribution Administrators)

Michigan Governor Signs Into Law Legislation That Reforms Michigan Public School Employees' Retirement System
Excerpt: "[A]ll MPSERS employees will contribute 3% of their salary to be deposited into an irrevocable health care trust in addition to what they already contribute to the pension system."
(PLANSPONSOR.com)

[Opinion]
ERIC Urges Congress to Approve Meaningful Pension Funding Relief (PDF)
2 pages. Excerpt: "We support expanding the current amortization period for pension plans from the current seven year period to either the 2 +7 alternative (for which the first two years, plan sponsors would only owe interest on the payments) or a 15 year amortization option."
(The ERISA Industry Committee)

[Opinion]
Congressional Letter to PBGC Regarding Variable Rate Premium Issues (PDF)
2 pages.
(United States Senate via American Benefits Council)

[Opinion]
The Most Important Advice 401(k) Plan Participants Aren't Getting: How Much To Save
Excerpt: "While there are fiduciary duties to select and monitor the plans' investments, there are no requirements to communicate the necessary contribution rate to reach retirement adequacy, or the 'minimum funding requirement,' as pension actuaries would describe it."
(Retirement Solutions LLC)

[Opinion]
Political Pandering Over Public Pensions Crosses Party Lines
Excerpt: "This problem plagues public employee pension programs across California. One example: The state contribution to its employees' pensions has risen from $145 million in the 2000-01 fiscal year to $3.5 billion in the upcoming 2010-11 fiscal year."
(Bay Area News Group)

[Opinion]
Comments by the Retirement Security Project on Strategies for Promoting Lifetime Income in Retirement Savings Accounts (PDF)
7 pages. Excerpt: "First, we will discuss ways to use behavioral economics to increase the proportion of workers who choose to take a portion of their retirement savings in the form of guaranteed lifetime income products. Second, we will propose the creation of a federal guarantee on such products so that the worker is protected even if the company that sold the income product goes out of business."
(The Brookings Institution)

[Opinion]
ERIC Urges Solution for PBGC 'Box Check' Issue (PDF)
Excerpt: "We understand that PBGC has recently informed hundreds of plan administrators that they failed to correctly elect the alternative premium funding target in their 2009 PBGC comprehensive premium filing. In addition, plan administrators who believed they had correctly elected the alternative premium funding target for 2008 are only now being informed of the same alleged error in the filing for that year."
(The ERISA Industry Committee)

[Guidance Overview]
ERISA Supreme Court Attorney Fees Case Goes Way of Plaintiffs
Excerpt: "The case is interesting because it poses a common legal issue in ERISA litigation. The court, after pointing out problems with a plan administrator's interpretation of plan terms, remands the case back to the company and the company ends up awarding the initially requested benefits to the employee."
(Workplace Prof Blog)

Workshifting Benefits: The Bottom Line (PDF)
23 pages. Excerpt: "The purpose of this paper is to quantify the benefits of workshifting -- specifically working from home -- has for employers, employees, and the community. Citrix Online coined the term 'workshifting'to describe the growing trend to working from anywhere other than a traditional office through the use of web-based technology."
(Telework Research Network)

New Jersey State Judge Refuses to Block Law Reducing Pension and Health Care Benefits for Police and Firefighters
Excerpt: "Unions representing police and firefighters argued that the changes improperly infringe upon the collective bargaining process. They also said the requirement to contribute 1.5 percent of their salary to health care constitutes a tax on public employees."
(New Jersey On-Line LLC)

ERIC Urges Congress to Approve Meaningful Pension Funding Relief
ERIC (ERISA Industry Committee)

Council Commends Pension Funding Relief in Extenders Bill But Concerned About Conditions, New Requirements
American Benefits Council

McGraw Wentworth Survey Shows Gains in Consumer Driven Health Plans, Cost-Shifting, Emphasis on Wellness
McGraw Wentworth

Yoshida Group Hires Phillips & Company To Advise Plan and Participants
Phillips & Company

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