[Guidance Overview]
DOL's Final Regulations Relating to Time and Order of QDROs (PDF)
2 pages. Excerpt: "The regulations, which are effective July 30, 2010, are substantially similar to the interim final rule, but several changes were made to the examples, and one additional example was added."
(Sutherland Asbill & Brennan LLP)

[Guidance Overview]
Federal Judge Clears Home Depot of Wrongdoing in Stock Drop Lawsuit
Excerpt: "[T]he U.S. District Court for the Northern District of Georgia said [Home Depot's] defined contribution plan was an eligible individual account pension investing in company stock so it was not covered by the diversification mandate in the Employee Retirement Income Security Act (ERISA). The company stock allegations were actually claims the plan should have been better diversified [said the judge]."
(PLANSPONSOR.com)

Teacher Attitudes and Beliefs About Teaching Financial Literacy: A Survey of California K-12 Teachers (PDF)
25 pages. Excerpt: "[One of the purposes of the study was] to determine teacher understanding of several core personal finance concepts . . . [including] compound interest, inflation, and risk diversification."
(Dan Otter, Owner of 403bWise.com)

More Small Businesses Add Cash Balance Pensions
Excerpt: "It is the prospect of higher taxes that has doctors, lawyers, plumbers and other small business operators favoring these hybrid plans, which enable them to set aside significantly more pretax dollars than they could in a 401(k) or profit-sharing plan."
(The Wall Street Journal)

Fee Disclosure Provisions in HR 4213, the American Jobs and Closing Tax Loopholes Act of 2010, As Agreed to by House of Representatives May 28, 2010
7 pages. Excerpt: "The provisions apply to plan years beginning after December 31, 2011. The disclosure requirements from service providers to plan administrators shall apply to any contract or arrangement to provide services to a plan which is in effect on January 1, 2012. For purposes of the Act, such contract shall be treated as a new contract or arrangement entered into on such date."
(Profit Sharing / 401k Council of America)

PBGC Divides Chicago Trucker Pension Plan to Extend Its Solvency
Excerpt: "The Pension Benefit Guaranty Corporation (PBGC) on May 26 announced that the Chicago Truck Drivers, Helpers & Warehouse Workers Union (Independent) Pension Fund, a multiemployer pension plan based in Chicago, Ill., has been divided into two separate plans[, effective July 1, to extend solvency and to preserve] full benefits for about 3,700 workers and retirees of non-bankrupt trucking firms that contribute to the plan."
(Wolters Kluwer)

In Volatile Times, It Pays to Revisit Investment Policy Statement Which May Leave Fiduciaries Exposed to Legal Claims
Excerpt: "By laying out the strategy and processes used to manage a portfolio in a manner that best serves the interests of investors, the IPS is essentially a business plan for the portfolio."
(Investment News; free registration required)

Lawmakers Looking at Ways to Make Americans' Retirement Money Last
Excerpt: "Legislators and regulators are focusing on income guarantees such as annuities to supplement traditional retirement plans."
(BusinessWeek)

Baltimore City Council Committee Backs Police, Fire Pension Fix
Excerpt: "The legislation, which consultants hired by the city say could save $400 million over five years, would delay the age at which employees could retire, increase their contributions and replace a benefit that varies with the market with a modest annual cost-of-living increase for retirees over 55."
(The Baltimore Sun)

San Francisco Voters Approve Pension Cost Changes
Excerpt: "Under the measure, the pension fund contribution rate will increase from 7.5% to 9% for newly hired public safety workers, according to the San Francisco Examiner. Other workers will continue to pay a 7.5% contribution."
(PLANSPONSOR.com)

Working Well Past 'Nomal' Retirement Age
Excerpt: "The biggest, but most underreported, financial story in America is the looming retirement disaster. Eighty million baby boomers are approaching retirement, and most have absolutely no idea what's going to hit them. For them the financial crisis isn't over. It's just about to begin."
(The Wall Street Journal)

[Opinion]
Absent Reforms for Incumbents, a Five-Year Salary Freeze May Be the Best Solution for Skyrocketing State Pension Costs
Excerpt: "In states that allow public employers to change benefits for incumbent employees, the appropriate solutions should begin with revisions to the cost structure of the benefits plans to make them more affordable and sustainable."
(Governing)

[Opinion]
Pension Plans Go Broke as Public Payrolls Expand
Excerpt: "Seven states will run out of money to pay public pensions by 2020. That hasn't stopped them from hiring new employees. The seven are Illinois, Connecticut, Indiana, New Jersey, Hawaii, Louisiana and Oklahoma, according to Joshua D. Rauh of the Kellogg School of Management at Northwestern University."
(Bloomberg L.P.)

ESOP and 401(k) Plan Employer Stock Litigation Review 1990-2010
The NCEO has just released 'ESOP and 401(k) Plan Employer Stock Litigation Review 1990-2010,' a 35-page publication that categorizes court decisions in ESOP and 401(k) company stock cases since 1990 and provides brief summaries for the ESOP-related decisions. The page for the publication provides a complete table of contents and excerpts from both the ESOP and 401(k) sections.
(National Center for Employee Ownership)

"ERPA Test Review - Part 1" Web Seminar, A 3-Part Program
Nationwide on June 29, 2010
presented by SunGard Relius

"ERPA Test Review - Part 2" Web Seminar, A 3-Part Program
Nationwide on July 7, 2010
presented by SunGard Relius

2nd Wed Teleconference: ERISA Trust Requirement and Its Application to Health FSAs
Nationwide on July 14, 2010
presented by Employers Council on Flexible Compensation (ECFC)

Retirement Plan Compliance Assistance Seminar
in Pennsylvania on September 15, 2010
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Voluntary Fiduciary Correction Program Workshop
in Kentucky on July 7, 2010
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Voluntary Fiduciary Correction Program Workshop
in Pennsylvania on September 18, 2010
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Click to post your webcast or conference

US Department of Labor Announces Final Rules on Pension Distributions Under Qualified Domestic Relations Orders
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Transamerica Retirement Appoints Southern Regional Vice President
Transamerica Retirement Services

MetLife Offers New Disability/ Health and Wellness Integrated Solution
MetLife

The Retirement Advantage, Inc. Acquires Benefits Consulting Group, LLC
The Retirement Advantage (TRA)

First Mercantile Introduces New Enrollment Meeting Service
First Mercantile

Inc. Magazine and Winning Workplaces Recognize McGraw Wentworth as One of the Nation’s Top 40 Small Employers
McGraw Wentworth

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Manager of Advisor Support
for CDM Retirement Consultants
in MD

Data Conversion Specialist
for New York Life Retirement Plan Services
in MA

Benefits Manager
for Bradley Arant Boult Cummings LLP
in AL

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