Text of the IRS 'Employee Plans News' - Summer 2010 Edition (PDF)
13 pages. The newsletter includes items on Form 5500 Schedules; the Advisory Committee on TE/GE; the ESOP Phone Forum; 401(k) Questionnaire Follow-Up; Who Can Represent a Plan Sponsor During an Employee Plans Examination?; New Favorable Determination Letter 4577; Final Regulations on Investment Diversification Requirements; EP's Fiscal Year 2010 Work Plan.
(U.S. Internal Revenue Service)
Does Supreme Court Prefer Administrative Remand for Erroneous ERISA Benefit Determinations?
Excerpt: "It is plain that a majority of the Justices are prepared to vigorously defend, and arguably expand, Firestone deference after Conkright. Perhaps the majority was concerned that Glenn or its progeny may have called this stance into question. It would appear Conkright also may stand for the proposition that a possible remedy for wrongfully denied benefits may not be an award of benefits by the court, but a remand for further administrative review."
(Jackson Lewis LLP)
Excellent DC Pensions Communications from Around the World (PDF)
12 pages. Excerpt: "Defined Contribution . . . pension plan members in the UK have low engagement with their retirement benefits. To help address this important issue, nine leading UK pensions industry firms sponsored a project in early 2010 to learn from examples of pensions workplace communications excellence outside the UK, around the world."
(Spence Johnson Ltd via The SPARK Institute)
When It Comes to 401(k) Fees, More Money = More Problems
Excerpt: "Published by the authors of the '401k Averages Book,' the report 'Are All $5,000,000 401(k) Plans Created Equal?'shows that the size of a 401(k) plan's average participant account balance will influence the amount of fees they pay."
(Employee Benefit News; free registration required)
Massachusetts Pension Loophole Continues to Benefit 'Retirees' Who Go Work in Other States
Excerpt: "State lawmakers recently passed pension reforms that closed a number of loopholes, including a provision that let retired government workers return to their jobs as 'consultants' with a full salary and pension benefits. But the new reforms don't address the trend of top government workers retiring with pensions and then taking jobs with six-figure, taxpayer-funded salaries in another state."
Valued by every practitioner and recommended for every ERPA candidate, The ERISA Outline Book, 2010 Edition by Sal L. Tripodi, J.D., LL.M. offers six volumes of vital information on everything you need to know. Highlights include: IRS guidance on the waiver of 2009 required minimum distribution; automatic enrollment guidance from the IRS and Treasury; guidance on discontinuing safe harbor nonelective contributions; EFAST2 electronic filing system and DOL guidance; reporting guidance for 403(b) plans, guidance on deferrals from paid time off plans, court cases on scrivener's errors, and over 100 new rulings, guidances and regulations affecting retirement plans.
Order your copy of The ERISA Outline Book, 2010 Edition today! Visit www.asppa.org/eob now!
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