Pension Reporter System. Easy to use PC based software for EFAST2 electronic filing. Full instructions and expert support. Choose from 4 modules:
- Annual Reporting Series: EFAST2 5500-series, PBGC Premium-series, SAR + all schedules and attachments
- 1099-R Series: with related forms and 1099 electronic filing/Service Bureau
- Qualification & Termination: 5300/5310-series and PBGC 500/600-series forms
- FAS 132/158: Audit Letter, Worksheets, Schedules
or call (888) 328-2474
DOL Fact Sheet Regarding Annual Funding Notice for Defined Benefit Plans Rule (PDF)
2 pages. Excerpt: "The proposal requires administrators of all defined benefit plans subject to Title IV of ERISA to furnish a funding notice each year. The recipients are the Pension Benefit Guaranty Corporation (PBGC), each plan participant and beneficiary, each labor organization representing such participants or beneficiaries, and, in the case of a multiemployer plan, each employer that has an obligation to contribute to the plan."
(U.S. Department of Labor via American Benefits Council)
DOL's Final Rules for Participant Fee Disclosures (PDF)
16 pages. Comprehensive 16-page overview in a useful question-and-answer format. Includes list of 'action items' for plan sponsors and for service-providers, the model comparative chart issued by the DOL, and a sample chart 'drafted to provide a template that might be used to comply with the plan-related fee disclosure."
(Kelly, Hannaford & Battles P.A.)
Multiemployer Gap Drives Up PBGC's Deficit
Excerpt: "The [PBGC] said its deficit increased to $23 bil.lion at the end of fiscal 2010, a 5% increase over the $22 bil.lion deficit recorded in 2009, and more than half of that increase was attributed to a growing gap in multiemployer plans . . . ."
(American Institute of Certified Public Accountants)
Distributional Effects of Price Indexing Social Security Benefits
Excerpt: "This policy brief compares five options (four progressive price indexing and one full price indexing option) set forth by the Social Security Advisory Board to index initial benefits to price growth. It examines the distribution of benefits of Social Security beneficiaries aged 62 or older in 2030, 2050, and 2070 using Modeling Income in the Near Term (MINT) model projections."
(U.S. Social Security Administration)
What is the Impact of Foreclosures on Retirement Security? (PDF)
24 pages. Excerpt: "Using data from several sources, we show that households nearing retirement have lower rates of housing distress than younger households, as measured by arrears and foreclosure rates."
(Center for Retirement Research at Boston College)
New Nevada State Senate Minority Leader Urges Funding Changes to Public Pension System
Excerpt: "Largely because of a stock market crash in 2007 and other declines over the past decade, PERS' investment earnings have fallen short of expectations. The agency faces an unfunded liability estimated at $10 bil.lion as of June 30. To cover all current and future pensions, PERS eventually needs to increase its investment income or have employees and state and local governments contribute additional revenue."
(Las Vegas Review-Journal)
No Tax Deferral for 401(k) or Other Employer Sponsored DC plans?
Excerpt: "There are significant consequences if the tax preferences for employer sponsored defined contribution plans are eliminated as suggested by the leaders of both the President's Deficit Commission (Simpson/Bowles), and the Bipartisan Policy Center's deficit reduction team (Rivlin/Domenici) . . . ."
(Profit Sharing / 401k Council of America)
Itís a whole new world at the 2011 NTSAA Annual Conference, the premier 403(b) and 457 forum for educating producers, providers, agents, broker/dealers, sales and marketing managers, office staff, plan sponsors and other business officials. Register now and join your colleagues in Orlando February 2-5, 2011.
For more information and a brochure, go to www.asppa.org/ntsaaconference
Benefits in General; Executive Compensation
Reminder: Reporting Required for Exercise of ISOs, ESPP Options (PDF)
1 page. Excerpt: "The end is near for a temporary reprieve from reporting exercises of incentive stock options ('ISOs') and options under employee stock purchase plans ('ESPP'). On November 6, 2010, the Internal Revenue Service released final versions of Form 3921 and 3922 on which employers are required to report information relating to the exercise of ISOs and ESPP options."
(Vorys, Sater, Seymour and Pease LLP)
Widow Loses SERP Benefits Bid
Excerpt: "'The definition of 'spouse' contained in the SERP, on a plain reading, does not apply to Plaintiff. She was not married to Mr. Parr at the time of his retirement and is therefore not entitled to the death benefits as a spouse under the terms of the plan,' Oliver declared in the ruling."
House Sends Federal Telework Bill to Obama
Excerpt: "Members voted 254-152 to pass the 2010 Telework Enhancement Act (H.R. 1722), which requires agencies to determine which employees are eligible to work outside the office, to establish policies allowing them to do so and to inform them of the option."
Major League Baseball Close to Expanding Pension Benefits
Excerpt: "Major League Baseball and the players' union are close to an agreement that would close one of the few cracks in baseball's pension plan, providing life annuities and possibly medical coverage for about 870 players who played in the major leagues before 1980 but fell short of the four years' requirement for eligibility."
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