DATAIR's DC/Win System for Allocations, Discrimination Testing, and Proposals. Handles New Comparability Plans, Sole Proprietorships, 401(k) and 403(b) plans. Use with our DB System for Cash Balance and Combo Plans. Expert support. DC/401(k) System includes:*
Downloads from many allocated account fund providers *
Automated loan processing
Flexible data import/export *
Interface with DATAIR's 5500/1099R firstname.lastname@example.org
or call 1-888-328-2474
American Express Cleared in Stock-Drop Case
Excerpt: "[The District Judge] ruled that fiduciaries under [ERISA] are not mandated to delete a company stock investment option if the plan document calls for it to be included in a retirement savings program."
IndyMac Stock Drop Suit Draws Settlement Pact
Excerpt: "The suit alleged plan fiduciaries violated [ERISA] by keeping the stock fund option in the plan when it was no longer prudent to do so . . . ."
Ex-Wife Entitled to 401(k) Account Balance
Excerpt: "In finding that [the ex-wife] was entitled to the money, [the judge] pointed out that the Supreme court ruled that [ERISA] does not bar common law waivers but plan administrators are nevertheless bound by the plan documents if such waivers conflict."
Personality, Lifetime Earnings, and Retirement Wealth (PDF)
2 pages. Excerpt: "The Health and Retirement Study . . . presents an unparalleled opportunity to study the association of personality with lifetime economic success. The linkage of HRS survey data with administrative data from the Social Security Administration allows us to look at well-measured lifetime earnings rather than self-reported outcomes in a single year or short period."
(University of Michigan Retirement Research Center)
Improving Employees' Financial Literacy
Excerpt: "While many employers offer some form of investment advice, a recent national survey shows that employees are slow to tap that expertise. One Minneapolis-based construction company has been able to better connect with employees by hosting a series of financial workshops."
(Workforce Management; free registration required)
The Effect of Emergencies on Retirement Savings and Withdrawals
Excerpt: "This paper shows that after allowing for a reasonable risk for emergencies that only close to 3 percent can be withdrawn initially to provide the same sustainability as a 4 percent withdrawal. Significantly more savings are required to sustain a given standard of living."
(Financial Planning Association)
Risk Management for Plan Service Providers
Excerpt: "[Third party administrators and other benefit plan service providers] sometimes fail to anticipate what their clients expect them to do. This occurs, in part, because TPAs' service agreements often fail to adequately describe what the TPA will and will not do for the client. It also occurs because TPAs -- like any other service provider and, for that matter, any other person -- sometimes fail to consider what their client might expect them to do."
(Reish & Reicher)
Stock Market Losses Kill Marin County, California, Pension Bonus Bid
Excerpt: "Retirees in the Marin pension program won't get a bonus this year after all in light of severe stock market losses that torpedoed investments. The controversial bonus plan . . . was put on ice Wednesday after pension officials concluded it violated policy technicalities."
(Marin Independent Journal)
Is Social Security a Pension Plan?
Excerpt: "[T]he reality is that Social Security is not a normal pension plan, even though it somewhat resembles one because the benefit level is related to the recipient's income while he or she was working."
(The New York Times; free registration required)
Plan Terminations and Other Investment Events
Excerpt: "Cases like these often turn on the question of whether fiduciaries engage in a thoughtful process of evaluating an investment decision. Courts typically give a great deal of deference to decisions reached through a formal process that includes a focus on the purpose of the plan, discussion of the alternatives, input from advisers and consultants, and a documented decision."
(Reish & Reicher)
SEC Target-Date Fund Proposals: Well-Intended But Need Work
Excerpt: "Amendments that would require disclosing the fund's asset allocation at the target date immediately adjacent to the first use of the fund's name in marketing materials are intended to give the investor something other than a target date to focus on when selecting a fund. The SEC believes that a target date, taken by itself, can be misleading."
(The Vanguard Group, Inc.)
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
Congressional Bills Intended to Clarify Independent Contractor Status Would Instead Create Confusion for Employers
Excerpt: "The need for federal legislation in the area of misclassification is hard to argue against. The one witness that testified in a critical manner about EMPA at the Senate hearing this past June did not suggest that federal legislation is not needed. Rather, he criticized the size of the proposed penalties for misclassification, the nature of the record-keeping requirements, the language of the proposed notice to be given to all workers, and the potential that the anti-retaliation provision could reward unethical conduct."
(Pepper Hamilton LLP)
Webcasts and Conferences
Newly Posted Employee Benefits Jobs
Subscribe to the BenefitsLink Health & Welfare Plans Newsletter, Too!
This email has been published by:
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
Fax: (407) 644-2151
Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher
Copyright 2010 BenefitsLink.com, 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: