[Guidance Overview]
Change in Earned Income Computation
"The effect of the IRS interpretation is that practitioners can completely disregard SEHI in computing earned income for retirement plan purposes. This means that the 164(f) deduction for 50% of SE Tax may be greater than the deduction actually shown on the return. The practitioner must recompute the deduction without regard to SEHI."
(SunGard Relius)
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The ERISA Outline Book, 2011 Edition Available Now! (advert.)
Industry bestseller! Valued by every practitioner. The ERISA Outline Book by Sal L. Tripodi, J.D., LL.M. provides everything you need to know affecting retirement plans. Subscribe online and get automatic updates!
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[Guidance Overview]
Tips for Avoiding Problems When Restoring an Employer Match
"[J]ust as U.S. rules dictate how to suspend contributions, technical qualification requirements need to be satisfied when contributions are restored. Following the rules now can avoid future audit problems or the need to file under a voluntary correction program."
(Pensions & Benefits Law)
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[Guidance Overview]
Guidelines for Keeping It Simple Under 408(b)(2)
"Long pages of disclosure are not necessary or warranted. There are certain keys to making it work, and making the disclosure simple. Keep a few things in mind . . . ."
(Business of Benefits)
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2011 NIPA Annual Forum & Expo (advert.)
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.
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[Guidance Overview]
Employer in Stock Drop Suit Awarded $50K in Costs
"In the latest ruling, [the judge] turned away arguments by [the plaintiff] that he shouldn't be hit with litigation costs because of an ERISA provision that generally allows such expenses only if the loser's position was not 'substantially justified.' [The judge] asserted that the prior cases interpreting the ERISA provision have dealt with attorneys' fees and not other litigation costs."
(PLANSPONSOR)
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[Guidance Overview]
Puerto Rico Waives Tax Withholding for Some 2011 Retirement Plan Distributions
"The Puerto Rico Treasury Department has waived income tax withholding for certain annuities and installments paid in 2011 from Puerto Rico-qualified defined contribution and defined benefit plans. The exemption applies to the first $23,500 received on separation from service by participants age 60 or older (the first $19,500 for younger participants)."
(Mercer LLC)
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Working in Retirement: What Are the Questions?
"[T]he idea of continuing to work raises all sorts of questions: What kind of work should I do? How will my income affect my Social Security benefits? What's the best way to manage my income from work, Social Security and my investments?"
(The Wall Street Journal)
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SunTrust Served with 401(k) Suit over Investment Plans
"A retiree has sued SunTrust Banks, alleging that it favored investment plans operated by SunTrust or its subsidiaries that performed poorly and charged higher fees than plans offered by independent investment companies."
(PLANSPONSOR)
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Firms Omitting Annuities in New Retirement Income Products
"To provide income, [Dimensional Fund Advisors LP] will craft individualized investment portfolios based on a plan participant's responses to questions about their assets (including their defined-contribution plan balance), any applicable DB plan benefits and Social Security income. With that information, the firm will calculate a retirement income requirement and manage the employee's assets accordingly."
(Investment News; free registration required)
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Flaw Found in Proposed Ohio Public Pension Shift
"Gov. John Kasich's plan to dock public employees another 2 percent for their pensions could upset the fiscal health of the state's pension systems and force at least some of them into noncompliance with Ohio law."
(The Columbus Dispatch)
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Maine Governor Exempts Own Pension from Budget Cutbacks
"While public employees and teachers face this increase, as well as a raise in the retirement age, a freeze on cost-of-living adjustments for current retirees and a 2 percent cap on future cost of living increases, LePage's personal contribution rate to the retirement system will remain the same, which means he'll be paying $21,420 over four years."
(Kennebec Journal)
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[Opinion]
Lessons Learned at Recent 401k 'Summits'
"[A] challenge is that plan sponsors don't really want more participants to max out the company match, making the plan more expensive. So we need to create some tools and processes to improve plan outcomes, while restructuring the company's contribution in such a way that the overall cost to the plan sponsor is insignificant."
(RetireMap)
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[Opinion]
Economic Theorists Disagree About Whether Public Pension Funds Should Be Fully Funded, or Even Funded at All
"The trouble with the debate over what to do about our strained public pension systems is that so much of it is veiled in abstract, financial terms. The best solution might be the old-fashioned one: sharing, with some adjustments in our modern defined-benefits system. Yes, making the transition would not be easy. We would have to respect promises that have been made to today's retirees."
(The New York Times; free registration required)
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Benefits in General; Executive Compensation
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Preliminary Analysis of the President's Budget for 2012
"[CBO], with contributions from the staff of the Joint Committee on Taxation, has analyzed the President's budget submission for fiscal year 2012. This report by CBO presents a preliminary analysis of those proposals."
(U.S. Congressional Budget Office)
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Impact on Employees As Benefits Education and Communications Diminish
"Despite the differences expressed by different gender and ethnic groups, only 21% of plan sponsors think that tailoring benefits communications to their various employee segments is 'important' to their benefits strategies . . . ."
(Employee Benefit News; free registration required)
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Press Releases
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