To BenefitsLink home page

Retirement Plans Newsletter

October 13, 2010

View Newest Jobs

View all jobs on

DATAIR Plan Document System.
Choose your documents: RETIREMENT PLANS: 401(k)/Profit Sharing, 403(b), DB, Cash Balance; CAFETERIA PLANS: 125, HSA, HRA
Choose your formats:
* Long format Standardized and Nonstandardized Prototypes * Short format Standardized and Nonstandardized Prototypes
* IDP format Volume Submitters * Prototype format Volume Submitters
Contact or call 1-888-328-2474 Register Today!

[Guidance Overview]
IRS Warning Against Commingling Assets of U.S.-Puerto Rico Retirement Plans
Excerpt: "With the Dec. 31 deadline for Puerto Rico retirement plan spinoffs looming, new IRS correspondence casts a shadow over funding arrangements that seek to reduce costs by commingling the assets of Puerto Rico plans and US qualified plans."
(Mercer LLC)

Summary of Pension Equity Plan Issues (PDF)
Dated August 20, 2010. 3 pages. Excerpt: "Although no formal guidance addressing PEPs has been issued, the Internal Revenue Service has recently begun to process determination letters with respect to PEPs."
(American Benefits Council)

Fee Disclosure Rule Commenters Agree on Notice, Not on Threshold
Excerpt: "Under the interim final rule, to be a covered service provider, the entity must expect to receive at least $1,000 in direct or indirect compensation. ASPPA and ABC criticized the $1,000 threshold amount as being too low, while ICI and SPARK said it was acceptable. ASPPA recommended increasing the threshold amount to $2,500."
(The American Chronicle)

The Segal Company Acquires Aon Consulting's U.S. Multiemployer Defined Benefit Business
Excerpt: "The transaction involves about 60 multiemployer plans for which Aon Consulting had been providing services."
(Business Insurance)

The Impact of Public Pensions on State and Local Budgets
Excerpt: "The magnitude of [the unfunded pension] liability depends on the interest rate used to discount future benefit promises but, regardless of the assumptions, states and localities are going to have to come up with more money. This brief looks at the size of the additional funding relative to state budgets."
(Center for Retirement Research at Boston College)

Employment-Based Retirement Plan Participation: Geographic Differences and Trends, 2009 (PDF)
44 pages. Excerpt: "This Issue Brief closely examines the level of participation by workers in public- and private-sector employment-based pension or retirement plans, based on the U.S. Census Bureau's March 2010 Current Population Survey (CPS), the most recent data currently available (for 2009)."
(Employee Benefit Research Institute)

Retirement USA Advocacy Group Publishes 'Story Bank' of Individuals' Experiences with Retirement Plans
Excerpt: "Retirement USA is collecting personal stories about people's fears and concerns for retirement. Washington isn't paying attention to the retirement concerns of workers and retirees, so we need to speak out. The stories will help show lawmakers the reality of the retirement income crisis."
(Retirement USA)

American Benefits Council Comment Letter on PBGC Proposed Regulations on Partial Terminations (PDF)
6 pages. Excerpt: "We believe that the proposed regulations under section 4062(e) should be withdrawn."
(American Benefits Council)

What's the Best Fix for Your 'Underfunded' and Poorly Managed 401(k) Account?
Excerpt: "[T]he fact that none of the mutual fund companies' leadership realize that most of their customers can't afford to retire is downright reprehensible."
(Jane White via The Huffington Post)

Just Stop Funding Public Pensions
Excerpt: "'Put simply: Why should taxpayers vote to accumulate assets in a public retirement plan that buys Treasury notes yielding, say, 2% when they are paying 15% interest on their credit cards and 7% on car loans?'"
(The Franklin Center for Government and Public Integrity)

Global Aging No Longer a Distant Challenge Looming Over the Horizon
Excerpt: "The demographic transformation now sweeping the world promises to affect everything from business psychology and workforce productivity to the direction of global capital flows. Perhaps most fatefully, it could throw into question the ability of societies to provide a decent standard of living for the old without imposing a crushing burden on the young."
(The New York Times; free registration required)

401ks: America's Biggest Investment Fraud Was Foreseen and Preventable
Excerpt: "As a former attorney with the SEC regulating mutual funds and later in-house counsel to one of the largest mutual fund complexes, it had long been clear to me (and frankly many other industry insiders) that 401k investors were doomed."
(Edward Siedle via

Whether you're working towards an ASPPA credential or just looking to expand your knowledge in specific topical areas, ASPPA's exams are great ways to expand your knowledge while earning valuable CPE credits (valid for ASPPA, JBEA and ERPA requirements)! The proctored exam window is open from November 1 to December 16 but it's important to register early and have time to prepare.

Registration ends October 29. For more information, visit ASPPA's exam site

Sponsored by ASPPA

Benefits in General; Executive Compensation

October 15 Deadline Completes the Transition to Form 5500 E-Filing
Excerpt: "Oct. 15 is the 2009 Form 5500 e-filing deadline for calendar-year retirement and welfare plans that timely requested an automatic 2-1/2 month extension using Form 5558."
(Mercer LLC)

Webcasts and Conferences

Complimentary Update - Form 1099-R Penalty Changes
Nationwide on October 13, 2010
presented by Convergent Retirement Plan Solutions, LLC

Health Plans: Compliance with PPACA’s Health Claims and Appeals Process
Nationwide on November 17, 2010
presented by ABA Joint Committee on Employee Benefits

Press Releases

PBGC Shares Research Tool With Society of Actuaries
Pension Benefit Guaranty Corporation (PBGC)

ASPPA Petitions DOL for 403(b) Plan Relief
American Society of Pension Professionals & Actuaries (ASPPA)

Newly Posted Employee Benefits Jobs

Compliance Analyst
for The Newport Group
in FL

Operational Risk Consultant 4
for Wells Fargo & Company
in MN, NC

Where the best employers find the best candidates!

Handy Links:

Subscribe to the BenefitsLink Health & Welfare Plans Newsletter, Too!

This email has been published by:, Inc.
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151

Jeanette Hull, News Editor

David Rhett Baker, J.D., Editor and Publisher

Copyright 2010, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.

Anyone can subscribe to this newsletter.

Other useful links: