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!
Service Provider Fee Disclosure Regulations: Initial Disclosures
Excerpt: "The [covered service provider] must make compensation disclosures relating to four different categories of compensation: (1) direct compensation; (2) indirect compensation; (3) compensation paid among related parties; and (4) compensation for contract termination."
401(k) Participant at Fault in Account Withdrawal Dispute
Excerpt: "A federal judge in Oklahoma has cleared a 401(k) plan administrator of wrongdoing in a dispute over whether the employer should be forced to repay the participant for funds his ex-wife took out of his account."
America's Retirement Problem: Should We Ditch 401(k) Plans?
Video and transcript available on target page. Excerpt: "Over the past decades, defined-benefit plans have been replaced, for the most part, by defined-contribution plans like 401(k) plans. But the majority of Americans with access to 401(k) plans are not saving the maximum amount they can, and in may cases are not saving at all. Should the government play a greater - or different - role in getting Americans to save more for their retirement?"
(Grace Creek Media and The George W. Bush Institute)
New York Comptroller Issues 'Red' Alert on Pension Fund
Excerpt: "The shortfall comes despite DiNapoli's decision -- also announced yesterday -- to raise the mandatory pension contributions paid by local governments and the state to 16.3 percent of payroll, up from 11.9 percent."
(New York Post)
Know Your Annuity Options for Retirement Income
Excerpt: "Assuming that more and more people will choose some form of a life contingency annuity for their retirement portfolios, the question arises: what form of retirement income option should be selected?"
Adjusting Social Security for Increasing Life Expectancy: Effects on Progressivity
Excerpt: "Using data from the Health and Retirement Study to investigate how earnings relate to mortality risk and health limitations, this project explores the possibility of constructing a flexible [Full Retirement Age] that could preserve or even enhance the progressivity of Social Security benefits."
(Center for Retirement Research at Boston College)
401(k) Investment Education and Advice Provided by Organizations to Plan Participants
Excerpt: "Eighty-seven percent of organizations that offer 401(k) plans make investment education available to their plan participants. The top three formats for investment education are brochures, computer modeling or call centers through with employees can have their questions answered. In addition, 51% of organizations provide or make available some form of investment advice to plan participants."
(Society for Human Resource Management)
Court Finds Plan Trustee Could Not Act on Knowledge of Breaches
Excerpt: "A federal court in Illinois has ruled that participants of the Antioch Company Employee Stock Ownership Plan are not time-barred from moving forward with their claim that company fiduciaries and GreatBanc Trust Co. breached their duties under [ERISA]."
A Simple Investment Design
Excerpt: "According to [the keep it simple, saver] principle, all you need are three diversified index-tracking mutual funds or exchange-traded funds -- one for U.S. stocks, one for international stocks and one for bonds. The portfolio must be rebalanced at least once a year to ensure that half of the money stays in stocks and half in bonds."
(The Wall Street Journal)
Casey-Pomeroy Bill Would Bail Out PBGC, Union Pensions
Excerpt: "How much money potentially is involved? The Moody's study indicated that some 1,500 multiemployer plans, many of them representing unionized firms, were $165 billion short."
(National Legal and Policy Center)
Benefits in General; Executive Compensation
A $327 Million Stock Option Mistake
Excerpt: "A case decide[d] this week by the U.S. Court of Appeals . . . demonstrates the high sta[k]es of stock plan miscommunications. In Bell v. Pfizer Inc. . . ., a 2-1 majority of the Court held that Pfizer did not breach its fiduciary duties under [ERISA] by making potentially misleading statements, albeit unintentional, to an employee about her ability to exercise millions of dollars in stock options."
(Michael Melbinger via Winston & Strawn LLP)
Webcasts and Conferences
Newly Posted Employee Benefits Jobs
Subscribe to the BenefitsLink Health & Welfare Plans Newsletter, Too!
Sign-up form is at https://benefitslink.com/newsletter (free).
This email has been published by:
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
Fax: (407) 644-2151
Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher
Copyright 2010 BenefitsLink.com, Inc.; except that you can
forward this email in full (including this boilerplate part) or
otherwise reprint this email in full (including this boilerplate
part) without obtaining our permission.
Anyone can receive these emails; just have them sign up
at this web page: https://benefitslink.com/newsletter/
Other useful links: