[Guidance Overview]
New Retirement Plan Regs: What You've Got to Do in 2011 – "The DOL's goal? Get plan sponsors to disclose all fees and expenses to plan participants of 401(k)-type plans. The agency hopes that'll make the plans easier for employees to understand so they can make more informed decisions about where and how to invest their money. And while you technically have until the start of 2012 to comply, the number of changes required of employers will keep you busy for the next year." (HR Morning)

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[Guidance Overview]
Participant Fee Disclosure Regulations: Methods of Delivery and Effective Date – "The new rules apply for plan years beginning after October 31, 2011. Thus, the regulations apply to calendar plan years beginning in 2012." (SunGard Relius)

[Guidance Overview]
Sixth Circuit Rules That Trustees' Decision to Terminate Plaintiff's Disability Benefits Under Pension Plan Is Subject to Deferential Review – "In Price v. Board of Trustees of the Indiana Laborer's Pension Fund, . . . the Court faced several complex issues arising under ERISA. For many years, the plaintiff had received occupational disability benefits from a plan, a multi-employer pension plan, which is subject to ERISA . . . ." (Stanley D. Baum)

401(k) Fees and Retirement Savings – "It's fairly easy to find out what you're paying for the investments in your plan. You can plug the ticker symbols of mutual funds into a site like Morningstar.com, and it will spit back expense ratios. It's harder, however, to get access to other, noninvestment expenses that your plan charges to cover administrative costs -- things like accounting, legal fees and record-keeping." (AOL Inc.)

Advisor Service Agreements: The Weak Link – "While a well drafted, reviewed and understood service agreement can help preclude errors and claims, the service agreement is also the primary defense against liability caused by service provider mistakes and negligence. In spite of this important role, many plan sponsors - particularly small plan sponsors - sign standard service agreements without adequate review or counsel." (Center for Due Diligence via Susan Mangiero)

Retirement Advice Along Gender Lines – "Sixty-seven percent of women say that tailored investment options are more important than generalized advice, while fewer men say the same." (Employee Benefit News; one-time free registration required)

Stable Value Funds: Performance to Date – "Although stable value funds have heretofore been largely restricted to U.S. savings plans, the results of our study have strong implications for their consideration in markets overseas." (Social Science Research Network)

A Post-Crisis Assessment of Retirement Income Adequacy for Baby Boomers and Gen Xers (PDF) – "Range at risk: The percentage of households that would not have been 'at risk' without the 2008?2009 crisis but that ended up 'at risk' varies from a low of 3.8 percent to a high of 14.3 percent." (Employee Benefit Research Institute)

Bill Would Shift Virginia State Pensions to a 401(k)-Style Plan – "[A Republican delegate] plans to file a bill that would replace the Virginia Retirement System's current pension model, which promises a payout amount, with a defined contribution plan similar to a 401(k) that new government employees - state, local and public school - would participate in. That system would guarantee an up-front contribution but not the ultimate payout." (The Virginian-Pilot)

Plan Sponsor Groups Comment on New Regs for Cash Balance, PEP and Other Hybrid Pension Plans – "The letters focus primarily on 'market rate of return' and related transition rules, and new conditions for lump sum whipsaw relief." (Mercer LLC)

Tax Expenditure of the Week: Retirement Savings – "The purpose of these incentives is to encourage people to save for retirement and not rely solely on Social Security. Every dollar you set aside for the future reduces your tax bill this year. They represent substantial tax breaks because they allow individuals to defer taxes on their earnings and investments, and ultimately to pay taxes at lower rates since people tend to be in lower tax brackets when they retire." (Center for American Progress)

Aon Hewitt Says: Advice Should Include Recommendations on Taking Distribution – "Aon Hewitt added that it anticipates that treating all recommendations relating to the application and management of plan assets consistently may result in more participants leaving their assets in their employers' plans, which has benefits to both participants and employers." (PLANSPONSOR.COM)

Fiduciary Expansion Proposal Could Hurt ESOPs, According to Two Commenters – "Rather than add fiduciary status to ESOP appraisers, [one commenter] suggested the DOL issue regulations governing ESOP valuations, better define the current requirement that appraisers be 'independent,' and mandate the appraisers be credentialed by a professional appraiser organization." (PLANSPONSOR.COM)

Corporation Says New Definition of Fiduciary a Litigation Nightmare – "In the letter [to the DOL], Kenneth Margraf, Vice President at Liberty Capital, said making brokers and registered investment advisers fiduciaries to retirement account clients 'adds nothing positive to the protection of clients.'" (PLANSPONSOR.COM)

Massachusetts Governor Announces New Round of Changes for State's Public Pension System – "A news release said chief among the new set of proposals is an increase in the retirement age for elected officials and most general employees - from the current 55-65 to 60-67. The proposal also includes retirement age increases for employees with hazardous jobs, including police and firefighters." (PLANSPONSOR.COM)

NYC Pension Reform Top of Mayor Bloomberg's Legislative Agenda – "Bloomberg said the city would ask state lawmakers to change the law to allow the city to negotiate pension benefits directly with the unions during collective bargaining; the state currently sets pension benefits. He said he is dedicated to forcing change in a system that will cost the city $7 bil.lion this year, and vowed not to sign any contract with a salary increase unless it also included benefit concessions that save the city money." (PLANSPONSOR.COM)

Arizona Lawmakers Work to Reform State's Four Pension Systems – "If the bill becomes law, it would pump a projected $218 mil.lion into the state retirement trust from 2015 to 2027. It also would reduce by about one-tenth of 1 percent the contribution rates made by active employees and their employers. For an employee, the effect is fairly modest, but for public employers with large payrolls that don't allow double-dipping, the savings could result in tens of thousands of dollars." (azcentral.com)

[Opinion]
ASPPA COPA Comments on Proposed Rule Regarding Annual Funding Notice for Defined Benefit Plans – "The purpose of the Annual Funding Notice requirement is to provide more transparency about a defined benefit plan's funded status, as well as information on what benefits would be protected by PBGC if the plan were to terminate with insufficient assets." (American Society of Pension Professionals & Actuaries College of Pension Actuaries)

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[Guidance Overview]
Buyer Not Liable for Pension Benefits Under Seller's Top-Hat Plan – "Executives who lost their supplemental pension benefits when their employer sold all company assets to an unrelated party have no right to recover benefits from the buyer, the 7th US Circuit Court of Appeals has ruled . . . ." (Mercer LLC)

[Guidance Overview]
Form 5500 Preparers Not Required to Obtain Tax Return Preparer Identification Number – "The IRS has listed many forms that are not subject to the PTIN requirements. These forms include Form 5500, Form 5300, Form 5307, Form 5310, Form 8717, the Form 1099 series, the W-2 series, and Form 2848." (Wolters Kluwer)

409A: The 100 Most Frequently Asked Questions Published by ALI-ABA ALI-ABA (American Law Institute-American Bar Association)

Newport Group Appoints New VP, Retirement Services Newport Group, The

Statement by Secretary of Labor Hilda L. Solis on House Vote to Repeal Affordable Care Act U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Between 4–14% More U.S. Households "At Risk" of Running Short of Money in Retirement Due to 2008–2009 Recession Employee Benefit Research Institute (EBRI)

New White Paper Helps Financial Professionals Get the Most out of Retirement Plan Provider Searches Principal Financial Group

Transamerica Retirement Services Ranks as a Top 401(k) Provider in Boston Research Group’s 2010 Retirement Advisor Satisfaction Study Transamerica Retirement Services

Keenan 2010 Health Care Benefits Strategy Survey Profiles Challenges and Responses From California Organizations Representing 231 Hospitals Keenan

New Report: 129 Million Americans With A Pre-existing Condition Could Be Denied Coverage Without New Health Reform Law U.S. Department of Health & Human Services

Changes to Executive Compensation Programs Focus on Improving Alignment with Organizational Performance and Managing Perceived Risks, Mercer Survey Shows Mercer

Jeff Adair Joins Tegrit Technologies Tegrit

MAXIMUS and Connecture to Co-Present Solutions for Easy and Accessible Insurance Shopping in a Health Insurance Exchange MAXIMUS and Connecture

UNIFI Companies Retirement Plans is Now Ameritas Retirement Plans Ameritas Retirement Plans

marcus evans

Retirement Plan Administrator
for PenSys, Inc. in CA

Senior Conversion Specialist
for Northern California Third Party Administration Firm in CA

Contract Compliance Specialist
for The Newport Group in NC

Best Practices to Increase Participation in Nonqualified Deferred Compensation Plans
Nationwide on January 26, 2011 RCG Executive Compensation & Benefits Group

COBRA for Rookies: Understanding the Basics to Avoid Liability
Nationwide on February 17, 2011 EBIA / Thomson Reuters

Health & Welfare Plans Legislative Update
Nationwide on February 17, 2011 TRI-AD

Retirement Plans Legislative Update
Nationwide on January 27, 2011 TRI-AD