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[Guidance Overview]
2010 Annual Funding Notice Liabilities Could Surprise Plan Sponsors and Participants
Excerpt: "There are two interest rates that affect liabilities in the AFN: PBGC segment interest rates: These are based on 'spot' interest rates which are essentially a snapshot view of the current interest rate environment. Funding segment interest rates: These are generally based on 24-month averages of the spot rates. Although the 24-month averaging helps smooth out interest rate spikes and valleys, it will also delay the recognition of future rate increases."
(Van Iwaarden Associates)
[Guidance Overview]
IRS's Final and Proposed Hybrid Plan Regulations
Excerpt: "The final regulations mostly firm up the rules proposed in 2007. The 2010 proposed regulations focus on other issues, paying particular attention to interest crediting rates that satisfy the market-rate-of-return standard."
(Towers Watson)
[Guidance Overview]
IRS Rules Again on Annuity Issues in Defined Contribution Plans (PDF)
3 pages. Excerpt: "In PLR 201048044 (September 9, 2010), the Internal Revenue Service again addressed the application of certain tax rules relating to distributions from defined contribution retirement plans in the form of an annuity."
(Sutherland Asbill & Brennan LLP)
[Guidance Overview]
DOL's Final and Proposed Regulations on Disclosure Requirements for Participant-Directed Individual Account Plans
Excerpt: "According to the DOL, an estimated 72 mil.lion participants are covered by these participant-directed plans, which hold nearly $3 tril.lion in assets. The regulations are intended to ensure that these participants have sufficient information about plan investment fees and expenses to make informed retirement savings choices. To that end, plan sponsors must disclose fee and expense information for designated investment alternatives on a regular basis in a format that yields meaningful comparisons. A 'designated investment alternative' is any investment option offered by the plan."
(Towers Watson)
Federal Employees Receive Revised Retirement Statements
Excerpt: "The Office of Personnel Management is reconciling federal employees' retirement system deposits after years of miscalculated payments. OPM has been working since 2008 on a fix to its Service Credit System, which calculates retirement annuities for those who either did not contribute to the retirement fund during a certain period, or those who received a refund of retirement contributions."
(Government Executive)
Highlighting Employee Investment Gaps
Excerpt: "Some employers are more proactively educating workers about insufficient contributions to their 401(k) plans, a trend that's expected to persist into 2011. One company, after mailing nearly 17,000 personalized letters about current employee investing levels, tracked a 45 percent increase in contributions."
(Workplace Management: free registration required)
Motorola Agrees to $100M Pension Payment
Excerpt: "The PBGC said in an announcement that the plan will continue to operate under the company's sponsorship; the plan has 87,000 participants."
(PLANSPONSOR.COM)
[Opinion]
Retirement Themes for 2011
Excerpt: "With personal savings rates once again in solid single-digit territory, there is at least preliminary evidence that Americans are kicking the debt habit. Now, if the personal savings rate were to rise from 6% to 12% gradually in the coming years, the evidence would be conclusive. But we are by no means there today."
(The Vanguard Group)
[Opinion]
A 'New' Savings Approach for Participants
Excerpt: "Jeff Morgan, of Allied Insulation Supply, noted 'It occurred to me that the temporary 2% reduction in the employee portion of the Social Security Tax is a great opportunity for participants to increase their 401(k) contributions without reducing their net pay. Of course, this approach will defeat the purpose of providing more 'stimulus' dollars to the economy but it seems like a great idea to me."
(PLANSPONSOR.COM)
New rules from the IRS require paid tax preparers to obtain a PTIN, as well as either meet broad competency requirements or become an Enrolled Retirement Plan Agent (ERPA). We can help you become an ERPA with our incredible tools, practice exams and study aids. Register now and order your materials. The exam window is January 6-February 17, 2011!
For more information and study aids, visit AIRE, LLC. To register for the exam, visit ERPA Exam
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Benefits in General; Executive Compensation
U.S. Policy Scan 2011: Outlook for the Year Ahead (PDF)
21 pages. Excerpt: "SNR Denton's US Policy Scan 2011 provides our annual look ahead at the legislative and political agenda, as well as key events to watch for in the new year. The results of the 2010 midterm congressional elections have created a new paradigm in Washington and returned America to an era of divided government."
(SNR Denton)
How Important Are Inheritances for Baby Boomers?
Excerpt: "This study quantifies the aggregate amount of inheritances that baby boomers - those individuals born between 1946 and 1964 - can expect to receive over their lifetimes, and the distribution of past and prospective receipts by household type."
(Center for Retirement Research at Boston College)
Text of Live Q&A Session with EBSA's Phyllis C. Borzi
Phyllis Borzi, Assistant Secretary for the Employee Benefits Security Administration, participates in a web chat concerning the Agency's regulatory priorities for the next several months.
(U.S. Department of Labor)
Fee Transparency Initiatives the Focus of EBSA Regulatory Agenda
Excerpt: "As EBSA works to finalize this rule as applicable to pension plans, simultaneously it will move forward with its related welfare plan initiative. The welfare plan initiative involves a consideration of whether, and to what extent, service relationships in the welfare plan context should be subject to similar fee and compensation disclosure requirements."
(PLANSPONSOR.COM)
IRS Says That Individual Taxpayers Will Have Until April 18 to File Tax Returns
Excerpt: "That's because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 15. The IRS notes that, by law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; 'therefore, all taxpayers will have three extra days to file this year' (and yes, taxpayers requesting an extension will have until October 17 to file their 2010 tax returns)."
(PLANSPONSOR.COM)
How Important Are Intergenerational Transfers for Baby Boomers?
Excerpt: "We estimate that two-thirds of boomer households will receive some inheritance over their lifetime, with a median amount of $64,000. The estimates are based on data obtained before the economic crisis, so our analysis explores how the collapse in the stock and housing markets might affect the picture."
(Center for Retirement Research at Boston College)
ESOP Webinar Replay Collection Now Available from NCEO
The NCEO has packaged over 40 Webinar replays on various aspects of employee stock ownership plans (ESOPs) and related topics for a nominal fee. They are viewed online and include downloadable handouts in PDF format. (National Center for Employee Ownership
(NCEO))
Webcasts and Conferences
Defined Benefit Plans
in Georgia on January 20, 2011
presented by
WEB (Worldwide Employee Benefit Network) Atlanta Chapter
Press Releases
Newly Posted Employee Benefits Jobs
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