statistics counter
To BenefitsLink home page

BenefitsLink Retirement Plans Newsletter

View all employee benefits jobs on EmployeeBenefitsJobs.com
February 3, 2011 Health & Welfare Plans Newsletter  |  Advertise  |  Unsubscribe  |  Past Issues

[Official Guidance]
DOL Amicus Brief, Supporting Plaintiff-Appellant in Taylor v. Keycorp
"[The DOL Secretary] frequently participates in cases where the standing and rights of plan participants to enforce ERISA's strict fiduciary standards are at stake, and therefore has a strong interest in filing a brief as amicus curiae on the constitutional standing issue presented in this appeal. . . . This brief address[es] the following issue: Whether the plaintiff established 'injury in fact' sufficient to confer constitutional standing." (U.S. Department of Labor)


DATAIR Retirement Plan Document Software (advert.)

Sponsored by DATAIR Employee Benefit Systems, Inc.

Cost-effective PC software gives you everything 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, plus expert support from DATAIR's team.


Why People Are Not Wired for Successful Retirements
"People don't know much about financial decisions, but even if they did, research shows, their preference for immediate gratification at the expense of longer-term rewards would lead them away from sound retirement planning and investments." (U.S. News & World Report)

Six Ways to Measure the Success of a 401(k) Plan
"When companies set out to measure how successful their 401(k) plan is, they generally don't do it based on how comfortably their former employees are supporting themselves in retirement. Instead, employers evaluate how many employees use the plan and whether the benefits offered are competitive with other companies in the same industry." (U.S. News & World Report)

Taxpayers and Public Pensions
The website, Pension Risk Matters, reprints a press release from the California Foundation For Fiscal Responsibility on the question of 'Should Public Employees Pay Half the Cost of their Retirement Benefits?" (Susan Mangiero)

Some Corporate Pension Trustees Failing to Ensure Companies Can Meet Their Pension Obligations, According to Study
"The [research on pension trustee] practices revealed that 37 percent of the 119 polled schemes were scrutinising their companies' finances less than once a year, potentially missing balance sheet weaknesses that may prevent contributions to a corporate pension scheme." (Reuters via The New York Times; one-time registration required)

Form 5500 Schedule C: Eligible Indirect Compensation Disclosure Guide
"This guide is designed to assist plan sponsors in completing Form 5500 Schedule C (Service Provider Information)." (The Vanguard Group)

Report Shows Retirement Plan Participants Increasing Use of Advice
"Bank of America Merrill Lynch's quarterly '401(k) Contribution Activities Scorecard' shows plan sponsor adoption and participant utilization of advice services continued growth in 2010 [and] there was a 99% increase in participants accessing the advice tool and a 97% increase in participants receiving and reviewing specific advice within their 401(k) accounts." (PLANSPONSOR.COM)

A Dialogue About How to Improve DC Plans (PDF)
This is a discussion with Don Ezra, co-chair of global consulting at Russell Investments, on defined contribution plans. (PIMCO DC Practice)

America Saves Week, February 20-27, 2011
"During America Saves Week, individuals will be encouraged and assisted to assess their savings progress and take action to advance this progress. This encouragement and assistance will be provided by organizations and professionals with an interest in improving the financial security of individuals and families." (American Savings Education Council / Consumer Federation of America)

Misunderstandings Regarding State Debt, Pensions, and Retiree Health Costs Create Unnecessary Alarm
"A spate of recent articles regarding the fiscal situation of states and localities have lumped together their current fiscal problems, stemming largely from the recession, with longer-term issues relating to debt, pension obligations, and retiree health costs . . . ." (Center on Budget and Policy Priorities)

New York City Mayor's Plan on Pension Changes
"[The proposed changes to the pension system for New York City's municipal work force include] raising the retirement age for new employees and eliminating a bonus for retired police officers and firefighters." (The New York Times; one-time registration required)

Ohio Pension Program Might Reduce Fire and Police Ranks Across State
"Ohio's Deferred Retirement Option Plan for fire and police forces originally was intended to keep veteran employees from retiring early but might be on the brink of forcing a wave of exits this year . . . ." (American City Business Journals, Inc.)

The Retirement Plan Adviser Business: Service-Intensive, Competitive and Highly Regulated
"Advisers, whose fees are usually tied to the size of a plan's assets, are particularly drawn to the relative stability of the retirement sector." (Reuters)

[Opinion]
ASPPA, NAIRPA, and CIKR Comment on Definition of the Term 'Fiduciary' Proposed Regulation
"[W]e believe that the proposal should be revised and clarified to better protect plan participants [and] make the following recommendations." (American Society of Pension Professionals & Actuaries)

[Opinion]
Vanguard Comments on Target-Date Disclosures
"Our experience has shown us that the use of charts and graphs and, where possible, web-based tools to illustrate a TDF's asset allocation at various points in time is more effective than narrative descriptions." (The Vanguard Group)

[Opinion]
SPARK Institute Comments on the Definition of Fiduciary Proposed Rule (PDF)
"[W]e are concerned that the Proposal may have significant unintended consequences that will adversely affect the products and services that are available to retirement plans and may severely limit plan sponsors' ability to cost effectively get the information and support they need with respect to their plan investment options." (The SPARK Institute)


Preventing ERISA Claims and Litigation - March 29-30, 2011 (advert.)

Sponsored by marcus evans

Join leading ERISA experts from BP America, American Airlines, P&G, McDonalds, Sony, Verizon and more in 14 dynamic case studies, interactive panel discussions, workshops and topical luncheons addressing key topics surrounding ERISA.


Benefits in General; Executive Compensation

[Official Guidance]
Text of ITS Notice 2011-8: Determination of Housing Cost Amounts Eligible for Exclusion or Deduction for 2011 (PDF)
"This notice provides adjustments to the limitation on housing expenses for purposes of section 911 of the [IRC] for specific locations for 2011. These adjustments are made on the basis of geographic differences in housing costs relative to housing costs in the United States." (U.S. Internal Revenue Service)

[Guidance Overview]
SEC's Final Rules Regarding Say-on-Pay and Golden Parachute Requirements Under Dodd-Frank
"The Say-on-Pay and Say-on-Frequency requirements will apply with respect to annual shareholder meetings, or other shareholder action, at which directors are elected on or after January 21, 2011." (Morgan, Lewis & Bockius LLP)

[Guidance Overview]
SEC's Final 'Say-on-Pay' Rules: Basic Rules Effective January 21, 2011 (PDF)
"Small companies (those with a public float of less than $75 mil.lion) are not subject to Dodd-Frank and the Final Rules until the first annual (or other) meeting occurring after January 21, 2013." (Vedder Price P.C.)

[Guidance Overview]
ERISA Did Not Preempt a Court's Evaluation of State Law Damages
"This case deserves mention for the novel argument made by the employee in his lawsuit for damages." (Vicki Johnson of Davis Graham & Stubbs)

Snapshot of State and Local Government Employee Benefits (PDF)
"This issue of Program Perspectives reviews occupational distribution between State and local government sectors and examines data on benefit availability and participation in each sector." (U.S. Bureau of Labor Statistics)

Civil Unions Legalized in Illinois: Implications for Employee Benefit Plans
"Employers should take action now to prepare for requests for benefit coverage from employees planning to enter to a civil union with a same-s.ex or opposite-se.x partner once the law takes effect on June 1, 2011." (McDermott Will & Emery)

Protecting the ERISA Whistleblower: The Reach of Section 510 of ERISA
"This Note analyzes the reach of the whistleblower protections contained in ERISA section 510, 29 U.S.C. 1140, and considers whether section 510 applies to internal complaints made to an employer." (Social Science Research Network)

Press Releases

National Institute of Pension Administrators Partners with Heffernan to Offer Exclusive E&O Program
(National Institute of Pension Administrators)

PBGC, AIG Agree on Pension Protection in Fortress Sale
(Pension Benefit Guaranty Corporation (PBGC))

The SPARK Institute Seeks Changes To EBSA Fiduciary Definition; Proposes Safe Harbor
(SPARK Institute)

Moving Work Forward: Society for Human Resource Management, and Families and Work Institute Launch Workplace Flexibility Partnership
(Society for Human Resource Management (SHRM))

Segal Advisors Announces New Asset/Liability Modeling Practice Leader
(Segal Advisors)

Number of Americans Reporting No Personal or Retirement Savings Rises
(Harris Interactive)

National State and Local Government Organizations Get the Facts Out on Public Pension Plans
(Center for State and Local Government Excellence)

Economic Policy Institute Publishes State of Working America
(Economic Policy Institute (EPI))

Securian Retirement Adds Web-Based Tools for Advisors
(Securian Financial Group)

Evive Health Helps Boost Wellness Engagement for State of Nebraska
(Evive Health)


Webcasts and Conferences

EBSA Investigations
in California on February 15, 2011 presented by Western Pension & Benefits Conference, San Diego Chapter


Subscribe to the free BenefitsLink Health & Welfare Plans Newsletter, Too!


This email has been published by:
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151

Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher
dbaker@benefitslink.com

Copyright 2011 BenefitsLink.com, Inc., but feel free to forward this newsletter in its entirety.

Useful links: