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Retirement Plans Newsletter

September 9, 2010

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DATAIR Plan Document System.
Choose your documents: RETIREMENT PLANS: 401(k)/Profit Sharing, 403(b), DB, Cash Balance; CAFETERIA PLANS: 125, HSA, HRA
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* Long format Standardized and Nonstandardized Prototypes * Short format Standardized and Nonstandardized Prototypes
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[Official Guidance]
Text of IRS Notice 2010-61: Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates (PDF)
Excerpt: "This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in September 2010; the 24-month average segment rates; the funding transitional segment rates applicable for September 2010; and the minimum present value transitional rates for August 2010."
(U.S. Internal Revenue Service)

[Guidance Overview]
IRS Guidance and VCP Kit for Sponsors of Pre-Approved Plans That Missed the April 30 Deadline to Adopt EGTRRA Restatements
Excerpt: "Although the streamlined, lower-fee procedure for nonamender failures is included in Revenue Procedure 2008-50, the VCP Submission Kit released with this guidance will be a useful tool, especially for employers that want to prepare the VCP submission in-house."
(Employee Benefits Institute of America)

[Guidance Overview]
Court Preserves Early Retirement Subsidy Notice Issue
Excerpt: "A federal appellate court has cleared Solvay Chemicals Inc. of wrongdoing in its cash balance plan conversion, but sent a narrowly drawn notice issue back to a lower court for further hearings."

Better Pension Plan Governance Needed
Excerpt: "Too often, multinational companies are content to leave unsupervised governance of their defined-benefit plans in the hands of personnel in various countries, who may not have the best expertise. With the volatile economy over this decade, that has opened up their organizations to more risk -- both financial and reputational."
(Human Resource Executive Online)

Women & Retirement Survey: Current Outlook & New Opportunities (PDF)
49 pages.
(Transamerica Center for Retirement Studies)

FASB Proposal to Report Participant Loans As Notes Receivable Rather Than an Investment
Excerpt: "The amendments to Subtopic 962-325 would require that participant loans be classified as 'notes receivable' from participants, which are segregated from plan investments and measured at their unpaid principal balance plus any accrued but unpaid interest."
(Wolters Kluwer)

Lifetime Accounts Bill Gets Companion
Excerpt: "A Senate bill was introduced recently as a companion to a House measure (HR 4682) that would create so-called Lifetime Savings Accounts for every newborn child in America."
(Investment News; free registration required)

Vanguard Comment Letter to DOL on Proposals Relating to Service Provider Fee Disclosure
Excerpt: "[T]his comment letter generally supports the regulation as drafted, but we have also noted opportunities for the DOL to provide additional clarity."
(The Vanguard Group, Inc.)

The ASPPA Annual Conference is attended by 1,600 of your colleagues, with more than 60 workshops and 80 vendor displays in the exhibit hall focusing on all areas of the retirement business. Attendees even get face time with representatives from every aspect of the retirement plan industry, including the IRS and DOL and Members of Congress and their staffs.
Sponsored by ASPPA

Benefits in General; Executive Compensation

Independent Contractors: IRS Tips for Business Owners
Excerpt: "While addressed to small business owners, the rules summarized in 'Employee vs. Independent Contractor - Seven Tips for Business Owners' apply to employers of all sizes."
(Deloitte via

President's Advisory Board's Analysis on Tax Reform Options
Excerpt: "The President's Economic Recovery Advisory Board . . . has released its analysis of various options to change the current Federal tax system to achieve the three-part goal defined by the President: simplification of the tax system, compliance improvement, and reformation of the corporate tax system."
(Deloitte via

Webcasts and Conferences

"A 401(k) Practitioner's Guide to 457(b) Plans" Web Seminar
Nationwide on September 14, 2010
presented by SunGard Relius

Health Reform's Internal Claims and Appeals New Rules-Changes You Must Make Now
Nationwide on September 29, 2010
presented by Thompson Interactive

New Final Fee Disclosure Rules ó What Pension Plan Fiduciaries Need to Know
Nationwide on September 22, 2010
presented by Thompson Interactive

Press Releases

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