A team of pension professionals stand behind our full suite of pension products: DC/DB Software, Plan Documents, EFAST2 5500 System, Compliance Testing & Daily Val. Everyone on ASC’s Support Team, including the lead software programmers, were retirement plan administrators or ERISA attorneys before joining ASC. Our products & support show we understand the challenges you face and what it takes to accurately and easily administer a plan on a timely basis. (800) 950-2082 x1; Click here
to learn more about ASC.
Troubleshooter's Guide to Filing the ERISA Annual Report: Form 5500 and Form 5500-SF, October 2010 (PDF)
70 pages. Excerpt: "This guide is intended to help filers comply with the Form 5500 and Form 5500-SF annual reporting requirements and avoid common reporting errors. Not all rules or requirements are reflected and the guide is not a legal interpretation of ERISA. Filers should carefully read the instructions to the Form 5500 and the Form 5500-SF and applicable regulations for complete information on annual reporting and filing requirements."
(U.S. Employee Benefits Security Administration)
DOL's Proposed Rule on Defined Benefit Plan Annual Funding Notices (PDF)
2 pages. Excerpt: "Plan trustees of pension plans with more than 100 participants generally furnish the notices no later than 120 days after the close of the plan year. Thus, calendar-year plans must distribute the 2010 plan-year notice by April 30, 2011."
Avoiding Potential Disclosure Problems and Fiduciary Issues in Retirement Plans that Offer Certain Investment Alternatives (PDF)
8 pages. Excerpt: "Many investment managers and providers of investment options that are not subject to rules that apply to mutual funds, e.g., bank collective investment funds, non-registered 'fund of funds', separately managed accounts and annuities ('non-registered investments'), may be surprised that they will have to provide, or make available, to plan sponsors significant new information in order for the plan sponsor to comply with the new disclosure requirements."
(The SPARK Institute)
DOL's Interim Final Rule Requires Detailed Fee Disclosure
Excerpt: "Plan fiduciaries will be able to obtain the information necessary to make informed decisions regarding services rendered to and expenses paid from the plan. That's the goal of the interim final rule relating to fee disclosure that the Department of Labor's (DOL) Employee Benefits Security Administration (EBSA) issued on July 16. The regulations -- Reasonable Contract or Arrangement Under Section 408(b)(2) -- Fee Disclosure -- are effective July 16, 2011."
(Thompson Publishing Group Inc. via ERISAdiagnostics Inc.)
Court Rejects Teachers' ERISA Case Against Union
Excerpt: "The 9th Circuit on Monday dismissed a class action that accused the National Education Association of tricking teachers into buying expensive retirement annuities in exchange for millions of dollars in annual royalties. The federal appeals panel in Seattle ruled that the lead plaintiffs - two public school teachers in California and Washington - had failed to state a claim under the Employee Retirement Income Security Act (ERISA) because the annuities at issue do not qualify as employee pension benefit plans."
(Courthouse News Service)
Senate Approves Extension of Pension Benefit Freeze Relief
Excerpt: "Legislation approved Saturday by the Senate would extend by one year an expiring provision that effectively exempts many severely underfunded plans from rules that require plans to freeze benefit accruals."
The Role of Financial Literacy in Determining Retirement Plans
Excerpt: "Controlling for basic demographics and wealth, we find that misconceptions about eligibility ages and plan generosity influence workers' expected age of retirement. Although retirement-related decisions will affect workers' wellbeing for the remainder of their lifetimes, many do not possess enough basic financial knowledge to confidently make optimal choices."
(National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext)
Making Sense of Minimum Distribution Rules
Excerpt: "Your RMD for a particular tax year is based on the total of all your qualified plan assets (e.g., IRAs and 401(k)s if you're no longer working for the company). In addition, you are not required to take RMDs from each account in an amount that's proportional to each respective account's value. Simply put, you can decide which accounts you want to take money from, as long as you remove enough in total to cover your RMD for that year."
(U.S. News & World Report)
Arizona's State Retirement System Board Approves Contribution Rate Hike
Excerpt: "Next year, employees and employers will both contribute 10.75 percent of an employee's salary to the program, which has provided a guaranteed pension benefit, a long-term disability income plan, retiree health insurance and survivor benefits to its members since 1953 . . . ."
It’s 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
IRS Relaxes Rules on Fixing Release-Contingent Payments in Nonqualified Deferred Compensation Plan
Excerpt: "IRS Notice 2010-80, issued November 30, 2010, grants NQDC plan sponsors more flexibility in correcting impermissible timing provisions for payments that are conditioned on employee actions, such as execution of a general release of claims or restrictive covenant agreement, and provides transition relief for such violations."
(Pillsbury Winthrop Shaw Pittman LLP)
Webcasts and Conferences
Nationwide on March 24, 2011
National Center for Employee Ownership
Nationwide on March 22, 2011
National Center for Employee Ownership
Newly Posted Employee Benefits Jobs
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