We usually answer support questions within an hour (often within minutes), and provide free training via webinar to help you get started quickly. Conversion is a snap because we can load all of your plans on our system in about an hour with Batch 55Autofill.
Contact sales@ftwilliam.com or call 800.596.0714 and find out how we will make your life easier!
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[Guidance Overview]
Bank's Seizure of Sponsor's Bank Account Did Not Violate ERISA
See item #12 in the newsletter. Excerpt: "Current and former employees of JetDirect Aviation . . . brought a class action, pursuant to [ERISA, alleging] that JetDirect improperly withheld and diverted employee benefit plan funds from their paychecks to meet JetDirect's obligations to its creditors."
(Cypen & Cypen)
[Guidance Overview]
ERISA Service Provider Fee Disclosure Regulations (PDF)
Excerpt: "These regulations amend existing rules under section 408(b)(2) of [ERISA] and parallel provisions of section 4972(d)(2) of the Internal Revenue Code and regulations thereunder."
(Transamerica Center for Retirement Studies)
Verizon $1.67 Billion Pension Plan Typo Can Be Fixed, According to Court
Excerpt: "[When Verizon predecessor Bell Atlantic] was migrating workers from one pension plan to another, it inadvertently included a multiplier tied to workers' ages and years of service twice. This increased the starting balances for thousands of workers under the new plan, in many cases nearly tripling them, court records show."
(Reuters)
A Primer on Tactical Asset Allocation Strategy Evaluation
Excerpt: "Our results show that while some TAA strategies have added value, on average TAA strategies have not produced statistically significant excess returns over all time periods. This paper examines the necessary tools and processes needed to make optimal decisions regarding TAA strategies."
(The Vanguard Group, Inc.)
More Things You're Probably Still Doing Wrong As a Plan Fiduciary
Excerpt: "[T]his is a compilation based on my experience, the experiences of a group of experts who conducted a panel by the same title at the PLANSPONSOR National Conference in June, and a list of 'Common Plan Mistakes' from none other than the Internal Revenue Service itself."
(PLANSPONSOR.com)
Six Reasons Not to Roll Over Your 401(k)
Excerpt: "Just as group medical insurance is generally a better bargain than individual coverage, a group retirement plan can offer advantages investors can't get if they roll the money into an IRA . . . ."
(Bankrate.com)
States Test Whether Public Pension Benefits Can Be Reduced for Retirees
Excerpt: "Lawmakers in Colorado, Minnesota and South Dakota voted earlier this year to limit cost-of-living increases they previously had promised to thousands of current and future retirees, who courts historically have protected from benefit reductions."
(The Pew Charitable Trusts)
The Beauty of a Cash Balance Plan Buy-Out Tool
Excerpt: "In the context of a partnership buy-out, a cash balance plan can be incorporated as an overlay to an existing 401(k) plan and create the opportunity for massive retirement plan contributions for older people in their 60s."
(WebCPA)
Target Date Funds Add Alternatives to Combat Inflation
Excerpt: "T. Rowe Price Group Inc., The Principal Financial Group and OppenheimerFunds Inc. all added new alternative strategies -- including investing in REITs and commodities -- to their target date lineups during the second quarter, according to new research from Morningstar Inc."
(Investment News; free registration required)
Does a Custom Target-Date Fund Really Add Value?
Excerpt: "One commonly held belief is that a custom-built series of target-date funds is inherently superior to the proprietary strategies that are more widely available. But two Vanguard experts consider this belief -- along with several other concepts associated with target-date funds -- a myth."
(The Vanguard Group, Inc.)
[Opinion]
DC Limits and Profit Sharing
Excerpt: "Since most DC plans now include a 401(k) feature and over 80% of these include matching contributions, we need to preserve the current Section 415 annual additions limit of $49,000 if profit sharing and other non-elective contributions of any significance are to continue."
(Profit Sharing / 401k Council of America)
[Opinion]
401k Follies and the Need to Reinvigorate the U.S. Annuity Market
Excerpt: "The proposal described herein seeks to diminish the retirement security deficit through three interlocking regulatory parts: (1) a requirement to offer an annuity as part of 401K distribution options; (2) mandatory education pre-distribution on annuities; and (3) mandatory fee disclosure by annuity providers. These steps will likely reinvigorate the annuities market in the United States and help to bring an end to the 401K Follies."
(Social Science Research Network)
This year's program for DOL Speaks provides an opportunity to discuss employee benefits issues with colleagues and local, regional and national government employees from the US Department of Labor, including the new DOL Fee Disclosure Regs! Exchanging information and get educated about current regulatory, legislative, fiduciary, health benefits and retirement topics straight from the source. Designed for motivated and involved benefit plan professionals from across the country and the industry!
Register before August 20 and save $100. Visit www.asppa.org/dol.
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Benefits in General; Executive Compensation
[Opinion]
Will Health Savings Trickle from Your Paycheck to Social Security?
Excerpt: "The theory is that the health law will help the financial viability of Social Security because employers will shift money they now spend on health insurance into higher wages. That, in turn, will mean more taxes collected on fatter payrolls to support Social Security and Medicare."
(National Public Radio)
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