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
Legislative Glitch Could Affect Pension Contributions for Eligible Charity Plans
Excerpt: "Under a provision in the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act (the 2010 Act) passed earlier this year, funding requirements and benefit restrictions enacted by the Pension Protection Act of 2006 (PPA) do not apply to eligible charity plans until 2017."
The Next Pension Crisis: Taft-Hartley Multiemployer Plans
Excerpt: "[A post by 'The Lid' on the underfunding of multiemployer pension plans includes the following:] 'Many multi-employer plans are struggling after years of financial hits especially after the last recession. Along with the value of the plans going down, as the boomer generation is reaching retirement age, every year the number of people tapping those retirement funds hits a new record.'"
(Workplace Prof Blog)
Should Annuities Be an Option in 401(k)s?
Excerpt: "'There are fundamental problems with putting these kinds of products into an employer-sponsored plan, not least because they are very complex and difficult to understand, and many people think that the guarantee they offer is for their principal,' . . . ."
U.S. Alleges Fraud in New Jersey Pension Funding
Excerpt: "Federal regulators accused the State of New Jersey of securities fraud on Wednesday for claiming it had been properly funding public workers' pensions when it was not."
(The New York Times; free registration required)
SEC's 12(b)-1 Proposal: Does It Actually Increase 401k Fiduciary Liability?
Excerpt: "Under the current SEC proposal, the migration from the 12b-1 distribution model to the fee-based model may become the predominant strategy for this simple reason: Even if some distribution system incorporating the new 12b-2 model emerges, 401k plans will have to change their recordkeeping systems to account for individual lots. This accounting method - which may represent a costly change - is currently not done for retirement plans."
Common Trigger for 401(k) Plan Litigation Is Presence of Company Stock in Plan
Excerpt: "Indeed, one has only to look at the two-month period following the struggle to contain the current oil spill in the Gulf of Mexico and the number of litigants and potential litigants circling the BP 401(k) plans to appreciate just how much more aggressive the plaintiffs' bar has become in pursuing such actions"
New Study Identifies Revenues for Doubling of Social Security Payout
Excerpt: "Despite Social Security's new role as a de facto national retirement plan, many budget deficit hawks are calling for cuts to it to decrease America's indebtedness. But that would only make things worse for retiring Americans. The real problem with Social Security is that it is not robust enough to play this role as retirement security of last resort . . . . The bigger problem is that its payout is so meager."
ASPPA and the CFFP have partnered to bring financial professionals even more opportunities to advance their education and further their careers. CFFP is offering two live instructor-led ASPPA courses (PFC-1 and PFC-2) for students to prepare for the respective QPFC exams. As an added benefit, all CRPS designees will automatically receive credit for the first two ASPPA QPFC required exams--Retirement Plan Fundamentals 1 and 2, the other exams needed to obtain the QPFC credential!
Classes begin September 7. Learn more and register today at www.asppa.org/cffp!
Benefits in General; Executive Compensation
Federal Compensation Critics Keep the Debate Alive
Excerpt: "[A Cato Institute budget analyst], responding to [the Office of Personnel Management Director's] comments to The Washington Post, says his colleagues and other critics are citing data from the Bureau of Economic Analysis instead of the Bureau of Labor Statistics because the BEA provides a comprehensive analysis of the financial impact of a worker's benefits package."
(The Washington Post; free registration required)
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