[Official Guidance]
Text of IRS Notice 2011-19: Definition of Readily Tradable On An Established Securities Market (PDF)
"Final regulations under [Internal Revenue Code] section 401(a)(35) were issued on May 18, 2010 . . . [stating that] a security is readily tradable on an established securities market if the security is traded on a national securities exchange that is registered under section 6 of the Securities Exchange Act of 1934 . . . [or if] the security is traded on a foreign national securities exchange that is officially recognized, sanctioned, or supervised by a governmental authority and where the security is deemed by the Securities and Exchange Commission (SEC) as having a ready market . . . . Under this notice, [that definition now applies] for purposes of the following provisions: (1) section 401(a)(22); (2) section 401(a)(28)(C); (3) section 409(h)(1)(B); (4) section 409(l); and (5) section 1042(c)(1)(A)."
(U.S. Internal Revenue Service)
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Survey of Defined Benefit Plan Sponsors, 2010
"Findings of the Survey of DB Plan Sponsors indicated that, overall, sponsor-respondents are continuing to revise their investment strategies and plan design in response to the difficult environment of the past decade."
(The Vanguard Group, Inc.)
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Pension Funds Strained, States Look at 401(k) Plans
"The new plans allow states to set a firm, upfront limit on the amount they will contribute and leave it up to the employee and the financial markets to make the money grow."
(The New York Times; free registration required)
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401(k) Fee Disclosure for the 'You Never Told Me' Employees
"If this will be the organization's first easy-to-understand fee disclosure, tell the leaders responsible for the 401(k), benefits and employee communications to prepare now for unpleasant questions and negative reactions."
(Society for Human Resource Management)
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Target-Date Funds Should Look Beyond One Date
"Among [the observations made from recent research]: Once they retire, most target-date fund holders in 401(k) plans move to IRAs, where withdrawals are relatively infrequent in the early years of retirement. Target-date funds should be designed with a long-term horizon that considers investor behavior well into retirement, since withdrawals are intermittent and infrequent until age 70."
(The Vanguard Group, Inc.)
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[Opinion]
Target-Date Funds' Subjective Objectives
"The objectives of managing longevity risk or replacing pay cannot be taken seriously in a one-size-fits-all TDF because TDFs have no influence on, or relationship to, mortality or savings."
(AdvisorOne)
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Benefits in General; Executive Compensation
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ERISA Loopholes: Accidental Death Becomes Suicide When Insurers Don't Pay
"Insurers can make erroneous arguments with near impunity when it comes to the 112.8 mil.lion life and accidental death policies provided by companies and associations to their employees and members. That's because of loopholes in a federal law intended to protect worker benefits."
(Bloomberg L.P.)
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Impact on Employer Plans of President Obama's Decision Not to Defend DOMA
"For now, President Obama's decision not to defend the constitutionality of the Defense of Marriage Act . . . should not affect how employers administer their employee benefit plans. This Communique explains the President's decision and its impact on employer-sponsored plans."
(Thorp Reed & Armstrong, LLP)
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[Opinion]
Limit Pay, Not Unions
"Across the country, taxpayers are providing pensions, benefits and job security protections for public workers that almost no one in the private sector enjoys. Taxpayers simply cannot afford to continue paying these costs, which are growing at rates far outpacing inflation."
(Michael R. Bloomberg via The New York Times; free registration required)
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Press Releases
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