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ftwilliam.com is dedicated to making your life easier! (advert.)
Sign up for our free webinar February 2nd and learn about our automation and productivity tools. We’ll cover batch printing of amendments and notices, workflow for tracking 5500 statuses, our web-portal for e-filing and census collection and more!
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[Guidance Overview]
Seventh Circuit Vacates Class Certifications in 401(k) Fee Cases (PDF)
"[T]he Court concluded that participants in 401(k) plans do not necessarily share common interests and, in fact, their interests may conflict depending on, among other things, the investment options in which they invested and the timing of those investments."
(Groom Law Group)
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[Guidance Overview]
More Clarification on Tax Preparer Identification Numbers
"The IRS does not expect to offer the competency exam (i.e. on the Form 1040 series and schedules) before mid-2011. In the interim it will allow individuals who are not attorneys, certified public accountants, or enrolled agents to obtain a provisional PTIN . . . ."
(Deloitte via BenefitsLink.com)
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Reforming Washington, DC's Pension System
"The federal government now shares the District's pension obligations, pitching in most of the roughly $500 mil.lion in retirement benefits distributed each year. But the city's contribution is escalating."
(The Washington Examiner)
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Behavioral Economics Perspectives on Public Sector Pension Plans
"Holding fixed a public employee's work and salary history, we show that DB retirement income replacement ratios vary greatly across jurisdictions. This creates large variation in workers' need to save for retirement in other accounts."
(National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext)
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Florida Governor Wants Cheaper State Pensions
"[The governor said worker] contributions and other changes, such as putting new state workers into 401k-like plans instead of more costly traditional pensions, would save Florida $2.8 bil.lion over two years. He wants state workers to contribute 5 percent of pay for pensions."
(Reuters)
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[Opinion]
The Real Risk to Social Security
"[T]he Associated Press supplied a real granny-grabber last week: 'Social Security on Pace to be Drained by 2037.' Hyper-ventilating off a new report from the Congressional Budget Office, the headline managed to seize a topic of key interest and entirely miss the point."
(CBS Interactive Inc.)
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DATAIR Retirement Plan Document Software (advert.)
Cost-effective PC-based software with needed to produce and maintain accurate plan documents, SPDs, amendments, and employee communications. Many choices of DC, DB, 403(b) and Cash Balance plan types. Includes expert support from DATAIR’s team.
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Benefits in General; Executive Compensation
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Financial Planning Technology As an Employee Benefit
"It can lead to adverse consequences for both well-intentioned employers and financial do-it-yourselfers that use financial planning software without a certain amount of knowledge or the inability to see the bigger financial picture."
(Employee Benefit News; one-time free registration required)
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Employee Ownership Update for February 1, 2011
NCEO Executive Director Corey Rosen discusses the following: A new NCEO survey of over 420 ESOP companies on how they handle their repurchase obligations provides new data on this topic. One of the more notable trends in ESOPs over the last several years has been the move to more outside, independent directors. Indian companies are cutting back on broad-based equity plans. Applications for the Innovations Award are due by February 10.
(National Center for Employee Ownership)
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Press Releases
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