DB Administration, Discrimination Testing and Proposal software with Multiple Plan and Cash Balance Plan handling. PPA'06 Pension Funding.
Funding Target and Target Normal Cost with 3-rate segments
404(o) Cushion; 430 minimum and 404(o) maximum contributions
Funding Target Attainment Percentages (FTAPs)
Schedule SB reports and links to our 5500/PBGC System, and our FAS 158 and Termination Calculation reporting systems.
or call 1-888-328-2474
Seventh Circuit Rules That Objective, Convincing Evidence Supported Reforming Plan Document to Correct Scrivener's Error
Excerpt: "EBIA Comment: As this court's analysis reveals, the concept of scrivener's error is highly dependent upon the specific facts and circumstances. Courts have found it difficult to reconcile the equitable law principles permitting them to correct drafting mistakes with ERISA's principles requiring that participants have written notice of their plan rights and obligations. While this plan sponsor proved its case after four years of complex litigation, we agree with the court's comment: 'It is baffling that a major corporation would not invest greater resources to ensure accuracy in the drafting of such an important document.'"
(Employee Benefits Institute of America)
Small Business Jobs Act Affect on 401(k), 403(b), and 457(b) Plans
Excerpt: "The [Act] expands the current Roth contribution and conversion rules for 401(k), 403(b), and governmental 457(b) plans. Employers must quickly decide whether they wish to implement these changes in their defined contribution retirement plans."
(Ballard Spahr LLP)
In-Plan Roth Conversions Present Challenges
Excerpt: "Participants will benefit from having the in-plan conversion ability in 2010, because the bill allows them to spread the tax payment over 2011 and 2012, but sponsors will have to implement a plan amendment and coordinate with their payroll systems, among other steps."
A 2010 Wakeup Call for 403(b) Fiduciaries (PDF)
14 pages. This paper provides an overview of the changing 403(b) environment, alerting plan sponsors to the need for increased fiduciary awareness and suggesting steps they can take to protect themselves, their board members, other fiduciaries and ultimately, their participants.
(Standard Retirement Services)
Ohio Public Employee Retirement Costs: Schools' Pickup Perk Pads Pensions
Excerpt: "In pickup-on-the-pickup, school districts pay the employee share of the individuals' retirement contribution, and then consider it extra salary for pension purposes at a total cost of 26.4 percent of the employee's salary. Only 14 percent of that cost is mandatory. Another 10 percent covers what normally is the employee's contribution."
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
The Right Wing Myth on Public Employee Pay
Excerpt: "[F]indings broadly confirm existing research indicating that when relevant workforce factors like education and experience are taken into account, public workers earn lower pay and benefits than those working in the private sector."
(The Huffington Post)
Statement on 'Wake Up, Washington!' Month by Susan Scanlan, Chair of the National Council of Women's Organizations
Excerpt: "Unlike the bankers and financiers of Wall Street who brought us to the brink of economic calamity, your average woman on the street has not received a bailout. We're still working at low wage jobs, more than half of which offer no paid vacation, retirement, or sick leave let alone childcare or transportation assistance. Right now, the nurses, teachers, secretaries, grocery store clerks, data processors, hair stylists, and waitresses whom I represent are grateful to have a job, even if they receive only 77-cents for every dollar their male counterparts earn."
Webcasts and Conferences
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