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Text of Notice Recently Sent by PBGC to Premium Filers (PDF)
1 page. As a service to plan administrators who prepare and submit premium filings, PBGC recently mailed a notice about the upcoming 2011 premium instructions. The notice also includes helpful premium filing reminders. Excerpt: "PBGC expects to post the 2011 premium instructions (including illustrative forms) on its Web site by the end of December 2010. The filing requirements for 2011 are almost identical to the filing requirements for 2010. Here are the key items to note for 2011: . . . ."
(Pension Benefit Guaranty Corporation)
Update: 2009 Form 8955-SSA
Excerpt: "In the SSA/IRS Reporter, Fall, 2010, the IRS provides new information about the filing of Form 8955-SSA. As part of the transition to the fully electronic EFAST2 filing system, the previously used Schedule SSA is being replaced with a Form 8955-SSA that will be filed directly with IRS."
About the New Department of Labor Rules on Fee Disclosure
Excerpt: "Retirement plan fiduciaries are required by law to ensure that retirement plan fees are reasonable and that any conflicts of interest that might exist with a service provider are addressed. The DOL's intent is to provide a framework by which providers can fully disclose information so fiduciaries will be provided with all they need."
GAO Warns Public Plans on Risk-Taking Hazards
Excerpt: "GAO said the embracing of alternatives as part of a move to beef up returns could come at a bad time if the markets deteriorate again and produce losses when many state and local government finance pictures are already weak."
Mixed Target-Date Investors in Defined Contribution Plans
Excerpt: "This new Vanguard research examines mixed target-date investing in detail and finds that most mixed portfolios are the result of generally reasonable investment choices similar to those made by non-target-date investors."
(Vanguard Center for Retirement Research)
Exploring the Savings-to-Employment Income Ratio as a Means for Assessing Retirement Preparedness
18 pages. Excerpt: "[W]e will highlight the drivers of the ratio that are most within an investor's control: The Savings Rate; The Age at Retirement; [and] The Income Replacement Ratio. Adjusting one or more of these three drivers may help improve the outlook and the ultimate success of an individual's retirement savings efforts, especially someone with a relatively low account balance. By using the concepts presented in this paper, you can help your clients gain a clearer understanding of where they currently stand and how revising their retirement strategy may give them greater confidence."
(The Principal Financial Group)
Annuities Won't Save Your Retirement
Excerpt: "[S]ome of the solutions that the financial industry is pushing do more to benefit their own bottom lines than to address the real causes underlying why so many Americans are likely to run out of money during retirement. . . . [A]ll these efforts [to promote the use of annuities as a distribution option] are completely worthless without one key thing: getting workers to save."
(Dan Caplinger via The Motley Fool)
Comments of Pension Rights Center at Hearing on Lifetime Distribution Options (PDF)
Excerpt: "[W]e would support a requirement that all defined contribution plans offer a basic lifetime income option as an optional form of benefit distribution from the plan. A basic offering would be a simple annuity, transparent and subject to the joint-and-survivor rules applicable to defined benefit plans."
(Pension Rights Center)
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.
Benefits in General; Executive Compensation
NH Retirement System Posts Pension Data Online - News Story - WMUR Manchester
Excerpt: "The New Hampshire Retirement System has released a list detailing individual annual pension amounts paid to more than 23,500 retirees or their beneficiaries. The list . . . includes each individual retiree's NHRS member classification (Employee, Teacher, Police, or Fire), as well as the type of benefit (i.e. service retirement, early retirement, job-related disability, non-job-related disability, etc.) and whether the recipient was employed by the state or a political subdivision. The list does not include the names of individual pension recipients."
Webcasts and Conferences
Newly Posted Employee Benefits Jobs
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