Retirement Plans Newsletter
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[Guidance Overview]
IRS Raises Fees for Most Determination Letter Requests
– "The fee for a new or amended non-mass submission by a master and prototype plan sponsor has decreased from $12,000 to $9,500 per adoption agreement. The fee has increased from $1,000 to $9,500 for advisory letters for each additional [adoption] agreement by a non-mass submitter volume submitter specimen plan."
(Wolters Kluwer)
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Do You 403(b)? (advert.)
It’s a whole new world at the NTSAA Annual Conference, the premier 403(b) and 457 forum for producers, providers, agents, broker/dealers, sales & marketing managers, staff, plan sponsors and more. Join your colleagues in Orlando this February 2-5.
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Many Workers Miss Out on Retirement Tax Credit
– "The Saver's Credit may be applied to the first $2,000 of voluntary contributions an eligible worker makes to a 401(k) or similar employer-sponsored retirement plan or IRA. . . . But only 12% of full-time workers with annual household incomes of less than $50,000 are aware of the credit, according to a survey . . . ."
(TheStreet.com, Inc.)
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In Illinois, New Bill Would Impose Pension Reforms on Current Participants
– "There are differing schools of thought as to whether the Illinois Constitution allows state lawmakers to alter the conditions of existing public-service pensions. A bill filed last week is aimed at forcing the issue. House Bill 146 . . . would impose the pension limits put on new hires starting Jan. 1 on all participants in the five state-run pension systems and the Illinois Municipal Retirement Fund." (Northwest Herald
(Crystal Lake, Illinois))
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GE Ends Defined Benefit Pension Plan
– "General Electric . . . has terminated its defined benefit . . . pension plan to salaried employees appointed after Dec. 31, 2010, Pensions & Investments reports."
(emii.com)
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The Value of a Good ERISA Fiduciary
– Excerpt: 'One of the best developments in the retirement plan industry over the past few years has been the advent of the independent ERISA fiduciary where a financial advisor will assume some or all of the plan sponsor and trustee's liability in the selection and monitoring of plan investment. This article will describe the value of a good ERISA fiduciary as well as their different designations and the liabilities/responsibilities they are willing to assume."
(JD Supra, LLC)
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[Opinion]
California Must Reduce Public Employee Retirement Benefits
– "During the last decade, California state government payments for retirement benefits have grown at an alarming and unsustainable rate, exceeding $5 bil.lion a year, more than state support for the entire UC system."
(Los Angeles Times)
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Your Product + Our Readers = $$ (advert.)
Advertise your company's products and services in the BenefitsLink newsletter. Our subscribers care about employee benefit plan compliance, administration, costs and design. Contact Mary Hall for details.
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Benefits in General; Executive Compensation
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New Book: GPS (Guidance, Procedures, Systems): Performance Awards
– There has been a recent explosion in the use of performance awards. Even when they represent only a fraction of the total outstanding equity compensation, their unique aspects present a host of administrative challenges, financial reporting issues, and communication concerns. This book gives stock plan professionals guidance on the unique aspects of performance awards and how those issues must be addressed in administration, employee communication, and financial reporting. (National Center for Employee Ownership
(NCEO))
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Press Releases
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Employee Benefits Jobs
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Webcasts and Conferences
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