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February 8, 2011 Health & Welfare Plans Newsletter  |  Advertise  |  Unsubscribe  |  Past Issues

[Official Guidance]
Text of IRS Transcript for Hybrid Plans EP Phone Forum of November 23, 2010 (PDF)
"This transcript has been edited for technical accuracy and may differ slightly from the audio recording of the Hybrid Plan EP Phone Forum. This information is current as of November 23, 2010." (U.S. Internal Revenue Service)


Register Now for NIPA’s 2011 Annual Forum & Expo (advert.)

Sponsored by NIPA

The 2011 NIPA Annual Forum & Expo provides timely information on all aspects of the retirement plan industry including impacts of recent legislation, industry trends and practical tools to help you advance your pension administration knowledge.


[Guidance Overview]
Recent Developments for 401(k) Plans Affect Plan Duties and Fiduciary Responsibilities
"It is becoming increasingly more important to determine how to provide required information to participants in a manner that not only complies with the regulations, but also makes sense from an overall company communications standpoint." (Epstein Becker & Green, P.C.)

[Guidance Overview]
Tax Court Upholds Disqualification of Professional Corporation ESOP
"A professional corporation's [ESOP] and its related trust were not qualified because the plan was not timely amended to reflect legislative changes to the plan qualification requirements . . . ." (Wolters Kluwer)

[Guidance Overview]
Retiree Rights Roundup 2010, and Rulings, Filings, and Settlements of Interest (PDF)
The 'Roundup' starts on page seven of the document; Rulings, Filings, and Settlements of Interest start on page 11. (Proskauer Rose LLP)

[Guidance Overview]
Pending Sixth Circuit Case Has Implications for Directed Trustees and Participant-Directed Plans (PDF)
"In Tullis v. UMB Bank, N.A.,2 a federal district court rejected claims that a directed trustee violated ERISA when it executed investment instructions from an investment intermediary that it allegedly knew was engaging in fraud." (Proskauer Rose LLP)

[Guidance Overview]
Bear Stearns Decision Covers Collapse from Three Perspectives, Including ERISA Complaint by Employees for Retirement Account Losses
"Bear employees whose retirement Plan was devastated by Bear's disintegration claimed that Bear and the fiduciaries appointed to administer Bear's Plan breached their duties by allowing the Plan to invest in hold Bear's stock." (DLA Piper (US) LLP)

Connecticut Legislators' Pension Spikes
"If Governor Malloy had granted each of his appointees from the General Assembly a $200,000 check as a signing bonus, the public outcry would have been overwhelming. That, however, is effectively what the Governor has done through the legislators' pension spikes." (Oxford University Press, Inc.)

DC Group Wants 401(k) Deferral Ceiling Removed
"The cap is contained in a provision of the [IRC] known as the qualified automatic contribution arrangement, and was mandated by the Pension Protection Act of 2006." (Pensions & Investments; registration may be required)

Will New York City Pensions Be Cut?
In the NYT 'Room for Debate,' Girard Miller, E.J. McMahon, Joshua Rauh, Amy Monahan, and James Parrott offer suggestions. (The New York Times; one-time registration required)

Background on the Lifetime Income Disclosure Act, S. 267 (PDF)
"The . . . Act would require benefit statements to include the annuity equivalent of an employee's benefit . . . ." (Office of Senator Jeff Bingaman)

Funding of Pensions and Economic Growth: Are They Really Related?
"We show empirically that there is no relation between funding of pensions and economic growth in a sample of OECD- as well as non-OECD countries over the period 2001-2008." (Social Science Research Network)

U.S. Retirement Crisis Is Driven in Part by a Focus on the Present
"[A recent NBER working paper concludes] 'some people persistently choose immediate gratification instead of taking advantage of larger long-term payoffs.'" (MarketWatch)

[Opinion]
A 401(k) Problem You Can Do Something About
"401(k) plans can be very useful ways to save for retirement. But even though investing in your employer's stock may seem like a good idea, think twice before you put a huge amount of your retirement savings in company shares." (Motley Fool)

[Opinion]
Is the 401k Merely a Ponzi Scheme?
"Let's take a look at the numbers and determine if the conspiracy theory holds." (Fiduciary News)


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

[Guidance Overview]
SEC Adoption of Say-on-Pay rules
"Public companies must conduct, at least once every three years, a non-binding vote of the shareholders to approve the compensation of their executive officers." (Nixon Peabody LLP)

[Guidance Overview]
Monthly Benefit News & Developments, February 2011 (PDF)
The newsletter provides a summary of the previous month's legislative, regulatory, and judicial information on employee benefits and upcoming key dates. (Milliman, Inc.)

[Guidance Overview]
'PTINs' for Payroll and Employee Benefits Practitioners (PDF)
"In an effort to monitor and impose quality controls on tax return preparers, beginning January 1, 2011, all individuals (including attorneys and CPAs) who are compensated for preparing, or assisting in the preparation of, all or substantially all of a tax return or claim for refund must have a PTIN." (Groom Law Group)

[Guidance Overview]
Illinois Enacts Civil Union Law with Broad Implications for Employers
"In addition to determining if health and benefits plans comply with the Civil Union Act and appropriately define the term 'spouse,' employers should be mindful of other areas that may also be affected by the law . . . ." (Littler Mendelson P.C.)

Employers Increased Communications during Latest Open Enrollment, According to Study
"A press release said 84% of respondents used e-mails to communicate benefit choices in 2010, up from 76% in 2009. An additional one-third (33%) used podcasts, Web-based videos or online chats to communicate enrollment information last year, an increase from 27% in 2009." (PLANSPONSOR.COM)

DOL Starts Attorney Referral System for FLSA and FMLA Claims
"The U.S. Department of Labor said the system advises complainants of the ABA-approved Lawyer Referral and Information Service . . . providers in their area." (PLANSPONSOR.COM)

Press Releases


Employee Benefits Jobs

Insider Sales/Sales Assistant-Financial Services in CA for Nextstep Defined Contribution, Inc

Junior Retirement Plan Specialist in CT for Ambrose

Defined Contribution Administrator in AZ for E.A. Edberg Associates, Inc.

Attorney, Employee Benefits in DC, GA, NY for Alston & Bird LLP

Account Mgr I - SRS in OR for The Standard

Post Your Job on EmployeeBenefitsJobs.com

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Webcasts and Conferences

"Thrive in the New Retirement Era!" Spring Conference
in District of Columbia on April 26, 2011 presented by Retirement Industry Trust Association

401(k) Rekon Advisor Symposium - Milwaukee, WI
in Wisconsin on March 9, 2011 presented by 401(k) Rekon

Washington Update 2011
in California on February 17, 2011 presented by Western Pension & Benefits Conference - Orange County Chapter


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