Pension Reporter System. Easy to use PC based software for EFAST2 electronic filing. Full instructions and expert support. Choose from 4 modules:
- Annual Reporting Series: EFAST2 5500-series, PBGC Premium-series, SAR + all schedules and attachments
- 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
DOL's Final Fee Disclosure Regulation (PDF)
2 pages. Excerpt: "Keep in mind that the new regulation amends a prohibited transaction rule under ERISA and the Internal Revenue Code. That rule says that it is a prohibited transaction for a plan to enter into an arrangement with a service provider unless the 'arrangement'is reasonable and the compensation being received by the service provider is reasonable. The new regulation adds disclosure requirements for determining whether a service provider arrangement is reasonable."
(Reish & Reicher)
Using the Safe Harbor 401(k) Plan Top-Heavy Exemption
Excerpt: "The employer should assure that the plan's forfeiture allocation provision allocates forfeitures in a manner that will not create 'non-safe harbor' allocations. The plan therefore should provide for allocating forfeitures to pay plan expenses, to reduce the employer's safe harbor (nonelective or match) contribution requirement, or as a discretionary match not exceeding the safe harbor discretionary match limit."
IRS Announces Plan for New Form 8955-SSA to Replace Form 5500 Schedule SSA
Excerpt: "EBIA Comment: Pension plans (including 401(k) plans) previously filed Schedule SSA with Form 5500 to report terminated participants who had not taken a distribution of their entire vested account balances. Now that information will be filed directly with the IRS on Form 8955-SSA."
(Employee Benefits Institute of America)
EFAST2 FAQs Address Registration Process for Electronic Credentials and PDF File Issues
Excerpt: "Among other FAQs not highlighted [in this document], one FAQ clarifies that EFAST2 users must only register for credentials one time, though credentials will expire if they are not used for three consecutive years (Q/A-15); another FAQ focuses on the difference between an EFAST2 password, User-ID, and electronic transmitter identification number (ETIN) . . . ."
(Employee Benefits Institute of America)
Pensions and Corporate Financial Performance Are Linked (PDF)
24 pages. Excerpt: "We include observations concerning the influence of changes in the regulatory and capital market environments on retirement financial management practices. We also provide some suggestions for improved plan financial performance."
House Committee Hearing on Creating Greater Accounting Transparency for Pensioners
Excerpt: "On Tuesday, July 20, 2010, the Health, Employment, Labor and Pensions Subcommittee of the Education and Labor Committee will hold a hearing [to] explore the increasingly common practice of investing private sector pension funds in hedge funds and private equity funds, and assess if these pension plans receive adequate, transparent accounting information from these funds."
(U.S. House of Representatives, Committee on Education & Labor)
The Impact of Social Security Cuts on Retiree Income (PDF)
22 pages. Excerpt: "This paper assesses the cuts implied by three common proposals for reducing Social Security benefits: 1) Adopting a 'progressive price' indexation (PPI) formula for the basic benefit structure, 2) Accelerating and extending the increase in the normal retirement age, and 3) Reducing the annual cost-of-living adjustment. It calculates the implied cut in benefits and projected income for various age groups and income quintiles of retirees and near-retirees."
(Center for Economic and Policy Research)
How Will the New Pension Accounting Standards Affect You?
Excerpt: "The Academy's Pension Practice Council presented a webinar on July 15 about [GASB's] recently released Preliminary Views document on Pension Accounting and Financial Reporting by Employers. [You may access the webinar from the target page.]"
(American Academy of Actuaries)
A Crusade in San Francisco to Avert Pension Crisis
Excerpt: "'San Francisco's self-employed, restaurant workers, janitors, carpenters, small merchants, house cleaners and freelancers who work every bit as hard as city employees but do not enjoy similar pension or health care benefits now face the further indignity of watching vital civic services get axed in order to meet these obligations. It's not right, fair or reasonable.'"
(The New York Times; free registration required)
Funded Status Monitor: The Key Measure of Pension Fund Performance
Excerpt: "'The driver of asset allocation decisions is the relationship of total assets to total liabilities -- in other words, the funding ratio. Unlike performance-based metrics, a funded status monitor directly relates a plan's total assets to its liabilities and how the match-up changes over time,' . . . ."
(The Vanguard Group, Inc.)
The ASPPA Annual Conference is attended by 1,600 of your colleagues, with more than 60 workshops and 80 vendor displays in the exhibit hall focusing on all areas of the retirement business. Attendees even get face time with representatives from every aspect of the retirement plan industry, including the IRS and DOL and Members of Congress and their staffs.
Benefits in General; Executive Compensation
Retaliation for Internal Complaint Upheld in ERISA Sec. 510 Case
Excerpt: "The five appellate courts that have ruled on this issue have reached split decisions. The Fifth and Ninth Circuit courts have ruled that the employee is protected while the Second and Fourth Circuit courts now have been joined by the third circuit in ruling that Sec. 510 does not protect the employee from retaliation."
Webcasts and Conferences
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