An Explanation of the Changes in Pension Guarantees
Excerpt: "[ERISA] created the Pension Benefit Guaranty Corp., a sort of insurance company where every employer offering defined benefit plans paid a per-participant premium, accumulating reserves to cover employees of companies that closed without enough money to fill pension promises.' . . . Now you have a shrinking pool of defined benefit plans, which means a shrinking pool of money going into the Pension Benefit Guaranty Corporation . . . ."
Annuities Could Get Boost from Small Business Legislation
Excerpt: "The legislation includes a provision that allows holders of non-qualified annuities to carve out some of the funds from a deferred annuity and buy an immediate annuity contract with those proceeds."
(Employee Benefit News; free registration required)
Not All 401(k)s Are Created Equal
Excerpt: "The differences between a good and mediocre plan - which might seem minor but add up over a 40-year career - can determine whether you'll enjoy comfy golden years or be forced to work longer to build an adequate nest egg."
(The Sacramento Bee)
The Most Popular Funds in the 401(k) Market
Excerpt: "The American Funds Growth Fund of America (AGTHX), Pacific Investment Management Co. LLC's Total Return Fund (PTTAX) and American Funds' EuroPacific Growth Fund (AEPGX) are the three most popular mutual funds in the 401(k) market, according to research being released today."
(Investment News; free registration required)
Video: Managing the Crisis in Public Pensions
Excerpt: "The future fiscal stability of states is inextricably intertwined with the retirement security of public employees. This panel addresses what steps policy makers must consider, and what pitfalls to avoid on the road to reform."
(Mercatus Center at George Mason University)
Video: Public-Pension Deficits: How Big? Can They Ever Be Paid?
Excerpt: "As the Governmental Accounting Standards Board reviews public-pension accounting, what should it focus on? What are the possible consequences of these changes? At this event, a panel of retirement experts and public policy economists will address the growing threats to the pension liabilities of states and municipalities."
(American Enterprise Institute for Public Policy Research)
Pensions Become a Heated Issue in 2010 Politics
Excerpt: "The movement to rein in public employee retirement benefits has spread to the fall campaign, with candidates for governor, treasurer and state legislatures split over the best way to manage spiraling costs that threaten the financial condition of public pension systems in nearly every state."
(The Pew Charitable Trusts)
SEC and DOL Convergence: Are You Ready? (PDF)
3 pages. Excerpt: "These regulatory agencies have undertaken major initiatives with regard to fiduciary activity, plan investments, compensation, sales practices, and disclosure of services, compensation, and conflicts."
(Reish & Reicher)
California Governor Says No to Pension Caps
Excerpt: "California Governor Arnold Schwarzenegger has vetoed a measure barring employment contracts with automatic pay raises and legislation that would cap pensions. . . . According to the Sacramento Bee, Schwarzenegger said in a veto message that the bills do not provide real pension reform."
Digesting Recent Stock-Drop Analyses: A Possible Alternative to the Moench-ies
Excerpt: "With all the cases and articles swirling around the question of when there is a fiduciary duty to stop acquiring or to dispose of employer securities, and the recent oral arguments on the point before the Second Circuit, I'd like to set out a possible analytical framework . . . ."
(Pension & Benefits Blog)
The Source, Second Edition by Kristi Cook, JD and Ellie Lowder, includes the final 403(b) regulations, their impact and practical suggestions on how plan sponsors can manage their 403(b) program in compliance with applicable IRS requirements and deadlines. It also covers all aspects of ERISA and non-ERISA retirement plans for public education and tax-exempt 501(c)3 employers and includes comprehensive technical information with explanations and citations of relevant Code Sections.
Required reading for ASPPA's TGPC credential! Order yours today!
Benefits in General; Executive Compensation
Aon Completes Acquisition of Hewitt
Excerpt: "Aon Corp. on Friday completed its acquisition of Hewitt Associates Inc., a record deal that will significantly boost Aon's resources as a benefit consulting and outsourcing provider."
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