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Retirement Plans Newsletter

September 24, 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]
Small Business Jobs Act (H.R. 5297), As Approved By Senate (PDF)
262 pages.
(Via American Benefits Counsel)

[Guidance Overview]
Small Business Stimulus Passes Congress
Excerpt: "The bill allows participants in government section 457 plans to treat elective deferrals as Roth contributions, effective for tax years beginning after 2010. . . . The bill also allows rollovers from elective deferral plans to Roth-designated accounts."
(Journal of Accountancy)

[Guidance Overview]
House Approves Bill to Allow in Plan Roth Conversions
Excerpt: "The legislation, approved by a 237 to 187 vote, now goes to the White House and is expected to be signed into law on Monday."

[Guidance Overview]
Summary of Roth Provisions in The Small Business Jobs Act (PDF)
11 pages.
(Via American Benefits Counsel; prepared by Kent Mason of Davis & Harman LLP)

Cash Balance Renaissance
Excerpt: "Under the structure described in this article, the cash balance plan provides a safe and conservative benefit that never loses principal. And plan participants can then carry out their retirement investment strategy any way they choose in their defined contribution, IRA, or personal accounts."

Pension Freezes Continue Among Fortune 1000 Companies in 2010 (PDF)
13 pages. Excerpt: "From 2009 to 2010, the number of Fortune 1000 companies sponsoring a frozen pension plan increased by 4%. After peaking in 2006, the overall freeze rate has remained relatively constant over the last three years, as the economic climate has remained uncertain. Meanwhile, the number of sponsors of defined benefit (DB) plans (both active and frozen) in the Fortune 1000 has continued to decline modestly, as new entrants to the list are more likely to sponsor only defined contribution (DC) plans."
(Towers Watson)

Public Pensions Are Investing for Less
Excerpt: "Financial statements and annual reports would be improved by a management discussion of the consequences of error, misjudgment or uncooperative financial markets. Actuarial data on varying probable scenarios might be appropriate in the pension plan's footnotes. Plan sponsors (employers) should ask hard questions and be sure to disclose the consequences of projection errors in their bond documents."

Is Free 401(k) Advice Worth The Money?
Excerpt: "In corporate conference rooms across the country, companies that are trying to help employees plan their future are facing an odd problem: They don't seem to want the help."

French Unions Up Stakes In New Pension Protest Call
Excerpt: "The Thursday protests put around three million people on the streets according to unions, about one million according to police."
(Reuters via New York Times; free registration required)

FASB Ratifies Position on DC Pension Plan Loan Reporting
Excerpt: "At the September 16 Emerging Issues Task Force (EITF) meeting, the Financial Accounting Standards Board (FASB) unanimously ratified the EITF's consensus on this topic, that participant loans should be classified as notes receivable from participants in the financial statements of a defined contribution (DC) pension plan, measured at the outstanding principal amount plus accrued but unpaid interest."
(International Foundation of Employee Benefit Plans)

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

Webcasts and Conferences

Hearing on Protecting and Preserving Social Security for Generations - Watch Hearing Live
in District of Columbia on September 30, 2010
presented by U.S. House Ways and Means Committee

HIPAA Privacy Rules Refresher
Nationwide on October 7, 2010
presented by International Foundation of Employee Benefit Plans

Press Releases

McDonald's Corporation Named Plan Sponsor of the Year
Profit Sharing/401(k) Council of America (PSCA)

Newly Posted Employee Benefits Jobs

Part Time On Call Participant Counselor
for Transamerica Retirement Services
in CA, MI, UT, WA

Pension Plan Administrator
for M. S. Fox & Associates, Inc.
in CA

VP, Key Account Sales
for Prudential
in CT

Education Consultant
for AXA Equitable
in NJ

Retirement Plan Administrator
for RSM McGladrey, Inc.
in MD

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