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- Qualification & Termination: 5300/5310-series and PBGC 500/600-series forms
- FAS 132/158: Audit Letter, Worksheets, Schedules
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Service Provider Fee Disclosure Regulations: The Context
Excerpt: "This is the first in a series of Technical Updates relating to the recently released DOL regulations relating to service provider contracts with plans covered by the regulations. This Technical Update explains the basis for the DOL's issuance of the regulations and the overall purpose of the regulations."
Options for Obtaining a Determination Letter for Your Prototype Plan
Excerpt: "Sponsors of prototype plans had their profit sharing and 401(k) plan documents approved by the IRS and received Opinion Letters from the IRS on or before April 30, 2008. Employers can rely upon the Opinion Letters and do not need to obtain individual determination letters."
(Employee Benefit News; free registration required)
Social Security 75th Anniversary Survey Report: Public Opinion Trends
Excerpt: "All four AARP surveys -- conducted to celebrate the 50th (1985), 60th (1995), 70th (2005), and 75th (2010) anniversaries of Social Security's founding -- have demonstrated the high regard that the American public has for Social Security as an important American institution, not only for America's retired citizens, but for the entire American adult population."
Target-Date Funds Questioned
Excerpt: "New academic research finds that managers of target-date funds tend to invest in their own 'family' of funds, which can result in higher fees and lower performance. What can HR do to ensure its workers who use such funds are properly saving for their retirement?"
(Human Resource Executive Online)
The 401(k) Gospel According to Matthew Hutcheson
Excerpt: "The 40-year-old leader of the 'independent fiduciary movement' is passionate about making retirement plans more responsive to the needs of participants."
(Retirement Income Journal)
The U.S. Retirement Market, First Quarter 2010 (PDF)
33 pages. Excerpt: "A separate report . . . shows that between December 2009 and March 2010, retirement assets rose 2.6 percent, from $16.1 trillion to $16.5 trillion. The report includes assets held in private-sector defined benefit (DB) plans, government pension plans, DC plans -- including 401(k), 403(b), and 457 plans -- annuities, and individual retirement accounts (IRAs)."
(Investment Company Institute)
The Retirement Process
Excerpt: "For most people, retirement isn't a day, it's a process. . . . That has a lot of implications for the way you save and manage your money before, during, and after that transitional period. Here are some thoughts about the day you retire."
(Reuters via The New York Times; free registration required)
Philadelphia, PA, Public Workers Rush to Get DROP Pension While They Can
Excerpt: "The Deferred Retirement Option Program allows employees eligible for retirement to pick a retirement date four years in the future. That decision freezes the employee's pension benefit and prompts the city to start putting the person's pension payment aside in an account with a 4.5 percent yearly interest rate."
(The Philadelphia Inquirer)
Retirement Accounts More than a Third of U.S. Household Assets
Excerpt: "A report from the Investment Company Institute (ICI) finds Americans held $16.5 trillion in retirement assets at the end of the first quarter of 2010, accounting for 36% of all household financial assets in the United States."
Majority of ESOP Sponsors Offer Additional Retirement Plan
Excerpt: "Approximately 90% of ESOP Association members surveyed reported having retirement savings plans in addition to the ESOP (employee stock ownership plan) including 401(k) plans, pension plans, stock purchase plans, and stock options."
Appellate Court Rules in Verizon's Favor in ERISA Case
Excerpt: "Verizon Communications Inc. shouldn't be penalized for a drafting error in the preparation of a cash balance pension plan, the 7th U.S. Circuit Court of Appeals in Chicago ruled Tuesday."
(Pensions & Investments; registration may be required)
Investors Misled by Brokers Masquerading as Fiduciaries
Excerpt: "[B]rokers often subscribe to a more lax 'suitability' standard--meaning they are free to promote products that benefit the broker, and brokerage, more than the client, as long as those products are not blatantly unsuitable."
Social Security, the Trust Fund and Funny Money
Excerpt: "[L]et's talk about one of the world's biggest piles of funny money -- the $2.54 trillion Social Security trust fund. It matters now because Social Security revealed plans last week to tap the fund for $41 billion this year and will begin tapping it on a regular basis in less than five years."
(The Washington Post; free registration required)
ASPPA's Retirement Plan Fundamentals (RPF) program is designed to convey the broad base of knowledge necessary for every retirement plan professional to master. RPF webcourses, texts and exams aid in establishing groundwork in terminology, issues, and requirements for anyone beginning a career, re-entering the retirement field, or starting the credential process. Whether working toward a QKA, QPA, CPC, QPFC, TGPC or other credential, or simply growing your knowledge, every professional starts with ASPPA's RPF-1 and RPF-2.
Learn more and register for RPF webcourses and exams today!
Benefits in General; Executive Compensation
Say on Pay Under Dodd-Frank
Excerpt: "Section 951 of Dodd-Frank adds a new Section 14A to the Exchange Act, entitled 'Shareholder Approval of Executive Compensation,' which provides that, not less frequently than once every three years, a company's annual proxy statement must include a separate resolution subject to shareholder vote to approve the compensation of executives, as disclosed in the company's CD&A, the compensation tables, and any related material."
(Michael Melbinger via Winston & Strawn LLP)
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