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Retirement Plans Newsletter

June 22, 2010

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SunGard’s Summer-Fall education programs:
  • Chicago Advanced Pension Conference - get the latest updates from the IRS, the DOL, and Capitol Hill. Interact with industry experts.
  • Cross-Tested/Safe Harbor 401(k) Plan Design - learn how cross-tested and safe harbor designs can work together in a flexible environment to achieve employer goals and reduce costs.
  • 403(b) Plan Design – acquire the strategies and approaches to navigate the 403(b) plan minefield.
Read more about our programs here
Sponsored by SunGard

[Official Guidance]
Listing of IRS Published Guidance for January-May 2010
The target page links to guidance published by the Service relating to retirement plans: Treasury Regulations; Revenue Rulings; Revenue Procedures; Notices; and, Announcements
(U.S. Internal Revenue Service)

[Guidance Overview]
Final Regs Related to Diversification Requirements of Employer Securities Held in Defined Contribution Plans
Excerpt: "This article [reviews] the provisions that remain intact from the proposed regulations and introduce the additional guidance published in the final regulations."
(McKay Hochman Co.)

SEC Proposal Would Require Mutual Funds to Enhance Target-Date Fund Disclosures
Excerpt: "New SEC proposed rules would require target-date funds . . . to clarify the meaning of the date in their names and to include in marketing materials a chart or graph depicting asset allocations over time."
(Mercer LLC)

Liability Reducing Strategies for the 401(k) Plan Sponsor
Excerpt: "Here are four liability reducing strategies for today's 401(k) Plan Sponsor: Understand the duties and responsibilities of being a fiduciary. . . . Familiarize oneself with the appropriate DOL literature. . . . Keep up with the news and any regulatory changes. . . . Conduct a preliminary plan diagnostic and review to check for any fundamental compliance exposures."
(Fiduciary News)

How Much Does my 401(k) Investment Really Cost?
Excerpt: "U.S. employers should begin by reviewing current fee disclosures and trying to make them as complete and accurate as possible, and consider including some of the new information that would be required if H.R. 4213 became law."
(Osler, Hoskin & Harcourt LLP)

Are All $5,000,000 401(k) Plans Created Equal?
To receive a copy of the Special Report you are asked to provide your name and email address.
(401k Averages Book)

Pennsylvania Lawmakers OK Pension Change Bill
Excerpt: "The Associated Press reported that the bill would delay and smooth out a looming jump in costs to taxpayers and reduce some benefits for newly hired state workers, teachers, and other school employees."

IRS Provides Relief to Storm-Affected Sponsors of Defined Contribution Plans
Excerpt: "Notice 2010-48 administratively extends to July 30, 2010, the April 30 deadline for restating affected pre-approved defined contribution plans and, if applicable, for submitting determination letters to the IRS, to July 30, 2010. The section 401(b) remedial amendment period for these retirement plans is also extended to July 30."

Experts Spotlight 8 Key Retirement Topics
Excerpt: "[The MyRetirementPaycheck] site divides retirement issues into eight topics that can have a major impact on how much money is available for retirement -- debt, fraud, home and mortgage, insurance, pensions, retirement assets, Social Security, and work. It then explains the major issues in each category and adds some valuable insights about the linkages among the eight categories."
(U.S. News & World Report)

Five Things You Need to Know About Qualified Default Investment Arrangements
Excerpt: "(1) You don't need to have a QDIA to get 404(c) protection. IMHO, one of the most marvellous things about the Pension Protection Act's defined contribution provisions was that they weren't imposed on plan sponsors."

SEC's Target Fund Ruling Misses the Point
Excerpt: "[T]he SEC's proposed changes mistake more information for truly good information. Nothing in the added disclosures provides any real context or explanation that would actually help investors figure out if the final allocation on the target date is appropriate for them."

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 today!

Sponsored by WP&BC and ASPPA

Webcasts and Conferences

Grandfathered Health Plan Guidance Has Landed: Are You 'Grandfathered' or Not? Webcast
Nationwide on June 30, 2010
presented by International Foundation of Employee Benefit Plans

Press Releases

PBGC Takes Responsibility for the Grede Foundries Inc. Pension Plan
Pension Benefit Guaranty Corporation (PBGC)

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Newly Posted Employee Benefits Jobs

401k Administrator
for PlanTech, LLP
in AL

Institutional Trust Education Consultant
for M&I Wealth Management
in WI

Compliance Manager/Quality Control Analyst
for Pension Specialists, Inc.
in CA

Senior Pension Consultant
for National Pension Partners

Retirement Plan Administrator
for RSM McGladrey, Inc.
in MD

Group Retirement Wholesaler Midwest Region
for Ohio National Financial Services
in IN, KY, OH, WV

Group Retirement Wholesaler Southeast Region
for Ohio National Financial Services
in AL, FL, GA, MS, TN

Group Retirement Wholesaler Southwest Region
for Ohio National Financial Services
in AR, LA, NM, OK, TX, UT

Account Executive, Institutional Sales
for Sentinel Benefits & Financial Group

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