ASPPA credentials place you at the top of the pension profession. The Certified Pension Consultant (CPC) credential is conferred by ASPPA to benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning. CPCs work alongside employers to formulate, implement, administer and maintain qualified retirement plans.
Learn more and register for the CPC modules at www.asppa.org/cpc today.
Text of IRS Notice 2010-56: Special Funding Rules for Multiemployer Plans under PRA 2010 (PDF)
3 pages. Excerpt: "This notice provides guidance on the availability of special funding rules for multiemployer defined benefit plans under § 431(b)(8) of [Code], as added by . . . the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 . . . for a plan year for which the Form 5500 (and Schedule MB) has been filed. This notice also describes anticipated future guidance that will apply for sponsors of multiemployer defined benefit pension plans with respect to the special funding rules under § 431(b)(8)."
(Internal Revenue Service)
Text of IRS Notice 2010-55: Alternative Amortization Schedule for Single-Employer Plans under PRA 2010 (PDF)
3 pages. Excerpt: "This notice provides guidance on the availability of special funding rules for single employer defined benefit plans under § 430(c)(2)(D) of the [Code], as added by . . . the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 . . . for a plan year for which the Form 5500 (and Schedule SB) has been filed. This notice also describes anticipated future guidance that will apply for sponsors of single employer defined benefit pension plans with respect to an election to use these special funding rules."
(Internal Revenue Service)
Interim Final Rule on ERISA Plan Service Provider Fee Disclosures (PDF)
Excerpt: "Specifically, . . . in order to satisfy the requirements of the Final Rule, service providers must furnish certain disclosures to the plan fiduciary who is responsible for entering into the contract or arrangement that includes detailed information regarding the services that will be provided and the direct or indirect compensation to be received by the service provider in connection with such services."
(Paul, Hastings, Janofsky & Walker LLP)
Simplified Method for Multiemployer Defined Benefit Plans to Disregard Benefit Reductions in Calculating Withdrawal Liability
Excerpt: "Under the simplified method, the amount of unfunded vested benefits allocable to an employer that withdraws after the last day of the plan year in which the benefit reduction occurred is equal to the sum of (1) the amount determined in accordance with ERISA § 4211 under the method in use by the plan and (2) the employer's proportional share, determined as of the end of the plan year prior to withdrawal, of the unamortized balance of the value of the reduced nonforfeitable benefits (i.e., affected benefits)."
New Disclosure Requirements for Retirement Plan Service Providers
Excerpt: "[T]he Amended Rule will apply only to certain ERISA-covered plans and investment vehicles deemed to hold 'plan assets.' It will not apply to service arrangements with individual tax-favored retirement savings arrangements, such as individual retirement accounts . . . ."
(K&L Gates LLP)
Adequate Benefit and Monthly Income for America's Workers
Excerpt: "Phyllis Borzi, the Department of Labor's Assistant Secretary for the Employee Benefits Security Administration, has said that 2010 is the year in which we begin a national dialogue about retirement income for 401(k) participants. As a practical matter, though, that national discussion involves several other issues: . . . ."
(Reish & Reicher)
Need help with prototype document services, participant notices, or DC specialized testing services? Weíve got you covered. Averaging over 20 years of retirement plan experience per person, MassMutualís ERISA Advisory Services team is truly a group of industry experts. While our clients benefit from a broad range of services, you can benefit from our expertise as well. For more information on how MassMutualís ERISA consulting experts can help your company, contact EASConsulting@massmutual.com
Benefits in General; Executive Compensation
Employee Ownership Update for July 29, 2010
NCEO Executive Director Corey Rosen discusses the following: Research shows it's a myth that employees don't stay with employers as long as they used to. An examiner for a bankrup.tcy court found the solvency opinion in the Tribune ESOP transaction may have involved fraud. It is uncertain whether the new executive compensation rules will really change things. The NCEO is seeking 'Don't Do That' stories in the equity compensation field.
(National Center for Employee Ownership)
Disclosure of Pay Versus Performance Under Dodd-Frank
Excerpt: "The Act allows, but does not require, this disclosure to include a graphic representation of the information required to be disclosed. Presumably, this would be an enhancement to the Performance Graph."
(Michael Melbinger via Winston & Strawn LLP)
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