ERISA Class-Action Suits Shape U.S. Retirement Future
8 pages; lengthy policy analysis. "In less than a decade, 800 of the largest U.S. corporations . . . have been sued by classes of employees who believed their self-directed retirement plans failed to meet standards set by the 1974 law."
(Institutional Investor)
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Get Prepared for the EA-2B Exam. April 1 -4, 2010 (advert.)
Register for ASPPA’s Live EA-2B review course in the Washington, DC area. Tuition includes live instruction from David B. Farber, MSPA, EA, ASA, as well as practice problems and solutions, handy syllabi, suggested readings and other EA exams info.
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Market Bubbles and Investor Psychology
"This paper from Vanguard research presents a four-stage model of market bubbles and crashes, based on psychological traits drawn from behavioral finance. It examines the model's implications for investors and outlines several techniques to help mitigate bubble psychology."
(Vanguard Institutional)
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Survey Results: 2011 Hot Topics in Retirement (PDF)
"In November 2010, Aon Hewitt surveyed human resources professionals to learn what's likely to occur in 2011. We explored their focus and expected action regarding the design, management and delivery of their retirement programs. In this survey, we covered the topics of defined contribution (DC), defined benefit (DB) and retiree medical plans as they relate to active, salaried U.S. employees."
(Aon)
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PBGC Plans Temporary Outage of 'My PAA' Service This Monday
"My PAA will be unavailable from 8:00 am through 5:00 pm (Eastern Standard Time) on Monday, 02/21/2011, due to system maintenance. We apologize for the inconvenience and appreciate your patience."
(Pension Benefit Guaranty Corporation)
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Selecting Mutual Funds for 401(k) Participants: How Does Morningstar's Do It? (PDF)
"[D]ue to Morningstar's importance in the financial services industry, its Plan has a great deal of influence on investment decisions made by other retirement plan sponsors. Morningstar knows as much as any one organization can know about mutual funds; might its plan selections hold lessons for investors generally?"
(Schultz Collins)
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BP Faces ERISA Lawsuit
"The lawsuit alleges that BP's alleged misstatements about its safety procedures inflated the company's stock prices, which resulted in losses when the truth about BP's safety precautions came out following the disaster in the Gulf of Mexico."
(LawyersAndSettlements.com)
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Oklahoma Lawmakers Approve State Pension Changes
"Republican House Speaker Kris Steele of Shawnee has made reforming state pension systems for teachers, public safety workers and other state employees a top priority this year because of their collective $16.5 bil.lion unfunded liability."
(BusinessWeek)
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California State Employees Take Advantage of Pension Perk
"Tens of thousands of California state workers are taking advantage of a perk that pays them pension benefits for years they don't actually work . . . . State law allows the employees to increase their retirement benefits by tacking up to five fictitious years -- known as 'air time' -- onto their public service."
(Los Angeles Tim)
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Detroit Pension Probe Grows; More Than 150 Investments Eyed
"The U.S. Securities and Exchange Commission has widened its investigation of Detroit's two public pension plans, requesting as many as 1 mil.lion pages of records on more than 150 investments, according to people knowledgeable about the situation."
(Detroit Free Press)
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Many Baby Boomers See Retirement Delayed at Least Four Years
"Half of baby boomer clients who have postponed retirement due to the economic downturn expect to work at least four years longer than they originally planned, according to CPA financial planners surveyed by the AICPA."
(American Institute of Certified Public Accountants)
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[Opinion]
Senate Committee Chairmen Express Concern to IRS Over Upcoming Rules Defining 'Church Plan' (PDF)
February 14, 2011. 'We write to encourage the Service to ensure that [upcoming guidance for defining a 'church plan,' which will affect the availability of PBGC-guaranteed benefits] protects workers and retirees who may be adversely affected if a plan is re-designated as a church plan and, as such, is stripped of the protections afforded by ERISA."
(Sen. Tom Hark, Sen. Herb Kohl, Sen. Max Baucus, Sen. Jeff Bingaman)
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[Opinion]
Text of ASPPA Comments to DOL on Filing of Form 5500 by 403(b) Plans
"On February 17, 2011, ASPPA and NTSAA submitted supplemental comments to the U.S. Department of Labor requesting additional transitional relief with respect to the Form 5500 audit requirements for 403(b) plans."
(American Society of Pension Professionals & Actuaries)
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[Opinion]
San Diego Pension Fund Continues Give-aways
"Christmas came a little early in 2010 to most retired city employees. In three counts of outright benevolence, the city employee pension board again gave away the store to placate labor leaders."
(San Diego Source)
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Preventing ERISA Claims and Litigation - March 29-30, 2011 (advert.)
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.
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Benefits in General; Executive Compensation
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[Guidance Overview]
SEC's Final Rules on Say-on-Pay, Say-on-Frequency and Say-on-Parachutes
"Public companies must provide shareholders with a say-on-pay vote and say-on-frequency vote at the first annual or other meeting of shareholders where directors are elected occurring on or after January 21, 2011. The say-on-parachutes vote and enhanced disclosure of golden parachute compensation will be required for initial filings by all public companies on or after April 25, 2011."
(McDermott Will & Emery)
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[Guidance Overview]
SEC's Final Say-on-Pay and Say-on-Frequency Rules
"The final rules require companies to provide shareholders -- no less frequently than once every three years -- a nonbinding advisory vote on the compensation paid to named executive officers, as disclosed pursuant to Item 402 of Regulation S-K."
(Perkins Coie LLP)
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[Guidance Overview]
SEC's Say-on-Golden Parachute Rules
"The final rules will be effective April 4, 2011, except as noted below. Although the final rules substantially reflect the proposed rules, there are important differences, and companies should carefully review the SEC's final rules for guidance."
(Perkins Coie LLP)
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Press Releases
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