[Official Guidance]
Department of Labor Announces Intention to Extend Applicability Date of Section 408(b)(2) Fee Disclosure Regulation
"The U.S. Department of Labor’s Employee Benefits Security Administration today announced that it intends to extend the applicability date for the new disclosure rules under section 408(b)(2) of ERISA to Jan. 1, 2012. . . . Phyllis C. Borzi, Assistant Secretary of EBSA [said] 'Given the need to ensure a careful review of all the valuable input we received on the interim final rule, including suggestions for a summary document to further assist plan fiduciaries in their review of furnished information, we now believe plans and plan service providers would benefit from an extension of the rules applicability date.'"
(U.S. Employee Benefits Security Administration)
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Podcast: Pension Map Provides Bird's-Eye View of DB Plan Changes Nationwide
"[The vice president of research at The Center for State and Local Government Excellence talks to an EBN Associate Editor] about the center's new interactive map on pension reforms occurring at the state and local levels, and the funding status of those plans."
(Employee Benefit News; free registration required)
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Employer Sued for Withheld ERISA Plan Funds
"The ERISA pension lawsuit asks the Court to restore the missing contributions -- plus interest -- to the plan, as well as permanently undo any prohibited transactions."
(Online Legal Media)
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[Opinion]
Disclosing Risk to Individual Investors
"[The author] puts forward three numerical and three visual depictions of risk that could be provided to investors in addition to information about historic investment returns to help investors understand the likelihood of achieving certain outcomes."
(PostPartisan Foundation)
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DATAIR Retirement Plan Document Software (advert.)
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.
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Benefits in General; Executive Compensation
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Study Suggests Ways Florida Localities Can Meet OPEB Obligations
"Recommendations for local governments on retiree benefits: The minimum age before a retiree qualifies for benefits should be gradually raised. . . . Localities should not include overtime or additional earnings/bonus pay in the base salary used to calculate pension benefits."
(PLANSPONSOR.COM)
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IRS Begins Examinations of HIRE Act Payroll Tax Exemption
"[The IRS] is asking employers to provide several things, including: (1) a list of qualified employees; (2) a written statement explaining whether any qualified employees were hired to replace another employee, and whether any of the qualified employees are related to the employer; and (3) copies of the employer's Forms 941."
(McGuireWoods LLP)
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18 Careers with Unbelievable Perks
"When you're looking for a job, there's more to think about than just salary. Factors like working conditions and environment, opportunity for advancement, retirement benefits and even free swag should vie for a spot in your evaluation of a job opportunity."
(CareerOverview.com)
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[Opinion]
The Traditional Distinction Between 'Core' and 'Voluntary' Benefits No Longer Relevant
"Since the terms 'core' and 'voluntary' no longer serve a real purpose, we'll ignore these designations and instead focus on the actual purpose - the value proposition, if you will - of these benefits for the insured, which we'll categorize as health, life and disability insurance."
(Employee Benefit News; free registration required)
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Press Releases
Secretary of Labor to Host Live Web Chat on Department’s Fiscal Year 2012 Budget Request Feb. 14
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))
US Department of Labor Announces Intention to Extend Applicability Date of Section 408(b)(2) Fee Disclosure Regulation
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))
US Labor Department Sues Pittsburgh Manufacturing Company to Protect 401(k) Plan Participants
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))
US Labor Department Obtains Court-appointed Independent Fiduciary for Retirement Plan of Defunct Charleston, W.Va., Mental Hospital
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))
How Education and Household Income Affect HSA and HRA Balances
(Employee Benefit Research Institute (EBRI))
The Principal's Target-Date Collective Investment Funds Exceed $1 Billion
(Principal Financial Group)
Milliman Analysis: Corporate Pensions Begin 2011 With Improvement in Funded Status
(Milliman USA)
International Foundation Announces 2011 Executive Committee
(International Foundation of Employee Benefit Plans)
CIGNA Provides Access to Health Care for Workers on Military Bases in Afghanistan
(CIGNA Corporation)
New Rule Ensures Students Get Health Insurance Protections of the Affordable Care Act
(U.S. Department of Health & Human Services)
CPI Qualified Plan Consultants, Inc. Establishes Consulting Office in Phoenix, Arizona
(CPI Qualified Plan Consultants, Inc.)
Corporate Voices for Working Families Releases EITC Toolkit: Employer Guide Provides Companies with the Tools to Help Employees Take Advantage of Tax Credits and Other Federal Benefits
(Corporate Voices for Working Families)
NCTR Opposes Federal Take-Over of Public Pension Accounting
(National Council on Teacher Retirement)
SEI Quick Poll: Pension Sponsors Identify Controlling Volatility, Establishing Long-Term Strategies as Top Priorities For 2011
(SEI)
RealAge Launches Major Update of Its Landmark Online Health Assessment, Answering Popular Question “What’s Your RealAge?” More Precisely Than Ever
(RealAge, Inc)
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