[Guidance Overview]
403(b) Plan Terminations' Guidance
"A recent revenue ruling from the IRS answers . . . questions [about distribution of assets]."
(Poyner Spruill LLP)
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Compliance Testing Can Be Easier with ASC! (advert.)
Free yourself from reruns and data manipulations because the ASC System generates multiple corrections or solutions for failed ADP/ACP tests. Confidently design & efficiently administer any plan. Click to see why top firms use ASC.
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[Guidance Overview]
New Puerto Rico Tax Code Means Significant Changes to Retirement Plans for Puerto Rico Employees
"Generally effective immediately for tax years beginning on or after January 1, 2011, the new code requires significant changes to plan administration and updates of plan documents for both dual-qualified plans (i.e., plans qualified under both the U.S. and Puerto Rico Internal Revenue Codes) and Puerto Rico-only qualified retirement plans."
(McDermott Will & Emery)
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Reforming K-12 Educator Pensions: A Labor Market Perspective (PDF)
"An important question is whether the current retirement benefit systems are an efficient or equitable way to structure educator compensation. An examination of the incentives built into typical state defined benefit plans suggests otherwise."
(TIAA-CREF Institute)
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Pensions and Public School Teacher Retirement: An Analysis Using National Teacher Data (PDF)
"Research shows that DB plans have had strong effects on worker retention in the private sector, as workers delayed retirement until they cash in on large pension wealth accruals late in their careers and then retire abruptly. We explore these effects for teachers, using data that includes measures of teacher qualifications and job satisfaction."
(TIAA-CREF Institute)
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Battered Public Pension Funds Improve
"State pension systems had an estimated funding ratio of 69% for fiscal year 2010, ending June 30, up from 65% for fiscal year 2009, according to Wilshire Associates . . . . But pension plans remain well below the 95% estimated average funding ratio for 2007."
(The Wall Street Journal)
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EBSA Extends Comment Period for Fiduciary Definition Change
"[EBSA announced] that the deadline is being extended for 15 days after the date the official transcript of the EBSA March 1-2, 2011 public hearing . . . on the proposal becomes available online and in the agency's Public Disclosure room. EBSA said the release of the meeting transcript is not yet scheduled."
(PLANSPONSOR.COM)
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Benefits in General; Executive Compensation
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[Guidance Overview]
Top-Hat Plan Participants Lose Benefits After Sale of Company
"[W]hen a company purchases just the assets of another company, as happened in this case, the buyer assumes only those obligations and liabilities (e.g., non-qualified plans) that it explicitly agreed to acquire."
(Michael S. Melbinger via Winston & Strawn LLP)
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Federal Pay and Benefits Back in Spotlight
"The Republican-led House is scheduled to hold its first hearing [today] on the compensation of federal employees, pitting the Obama administration and federal worker union leaders against conservative fiscal experts armed with detailed reports suggesting federal employees are paid too generously when compared to private sector workers."
(The Washington Post; free registration required)
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Employee Benefits Developments, March 2011
"In this issue: SEC adopts final say-on-pay rules; IRS increases user fees for determination letters and other rulings; and cases involving ESOPs, a top hat plan, ERISA Section 510, a 401(k) plan, safe harbor, third-party administrators, and more."
(Hodgson Russ LLP)
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Key Considerations for Selecting Service Providers (PDF)
"This article discusses each benefit area's administration developments and the corresponding advantages of choosing a best-in-class versus single provider approach. The authors offer guidelines and tips employers can use in order to take advantage of the benefits offered by both approaches."
(International Society of Certified Employee Benefit Specialists)
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Press Releases
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