Pension Reporter System. Easy to use PC based software for EFAST2 electronic filing. Full instructions and expert support. Choose from 4 modules:
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- 1099-R Series: with related forms and 1099 electronic filing/Service Bureau
- Qualification & Termination: 5300/5310-series and PBGC 500/600-series forms
- FAS 132/158: Audit Letter, Worksheets, Schedules
or call (888) 324-2474
PBGC Provides Multiemployer DB Plans with Reporting Relief for Completing Form 5500 Schedule R
Excerpt: "The PBGC also provides an alternative method of compliance. Under the alternative, a plan may make a partial report of the information required on Line 14 by reporting the number of employers that withdrew from the plan beginning in the 1998 plan year through the end of the plan year preceding the relevant plan year (2009, 2008, or 2007), and the number of participants for whom these employers made contributions to the plan."
A New Plan for Valuing Pensions
Excerpt: "The rule makers want to shine a bright light on the states and local governments that routinely fail to put enough money into their pensions -- places like Illinois, New Jersey and Pennsylvania -- that year after year contribute less than their actuaries tell them they have to contribute to their pension funds."
(The New York Times; free registration required)
House OKs Pension Funding Relief, Sends Bill to President
Excerpt: "The measure would give employers temporary alternatives to the basic requirement -- embedded in a 2006 law -- that requires employers to amortize pension funding shortfalls over seven years. Under one alternative, employers could amortize funding shortfalls over 15 years for any two plan years between 2008 and 2011."
BP Sued by Nation's Third-Largest Public Pension Fund
Excerpt: "The $132.6 billion New York State Common Retirement Fund is seeking 'lead plaintiff' status in the class-action suit and looking to recover damages sustained from the decline in shareholder value after the April 20 Deepwater Horizon oil rig explosion that killed 11 workers."
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 www.westernbenefits.org today!
Executive Compensation; Benefits in General
Banking Agencies Issue Final Guidance on Incentive Compensation Policies
Excerpt: "Similar to the proposed guidance, the final guidance is based on three key principles that are designed to ensure that incentive compensation arrangements at a banking organization do not encourage employees to take excessive risks."
Plan Administrators Cannot Invoke "SPD Prevails" Rule to Cure Plan Language Deficiencies
Excerpt: "It is not unusual to see plan documents and summary plan descriptions merged into one document these days, or for summary plan descriptions to take on the role as the source of authority and documentation of administrative practices. This recent Eighth Circuit opinion should give plan fiduciaries pause as they delegate such paperwork to their claims administrators and benefit communications consultants."
(Roy Harmon via Health Plan Law)
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