[Guidance Overview]
Q&A with Fred Reish: 408(b)(2) and Fiduciary Advice
For a webinar, ERISA attorney Fred Reish covered proposed DOL 408(b)(2) and fiduciary advice regulations . . . . Here Fred answers some of the most frequently asked and generally applicable questions.
(fi360 Blog)
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[Guidance Overview]
Stock-Drop Case against UBS AG and UBS Financial Services Inc. Tossed
"[The District Court judge] dismissed the action against the UBS companies after ruling plaintiffs would have to prove that plan fiduciaries abused their discretion in keeping company stock as a retirement plan investment option -- a bar he said plaintiffs were unable to cross."
(PLANSPONSOR.COM)
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The Finances of State and Local Pension Plans (PDF)
"[T]he question is whether these plans have enough assets to muddle along until the economy and the stock market recover. Or do they face a liquidity crisis?"
(Center for Retirement Research at Boston College)
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Target Date Funds: Don't Set Them and Forget Them
"[Plan sponsors] should continue to monitor TDFs in their plans and remember that plan fiduciaries are not relieved of liability for the prudent selection and monitoring of investment options in their 401(k) plans, including TDFs and QDIAs."
(Holland & Knight LLP)
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Should the DC Industry Reconsider Participants' Bond Portfolios? (PDF)
"In recent years, the defined contribution (DC) retirement plan industry has begun to focus on lifetime income, as opposed to lump-sum distributions, for participants. In light of this trend, should we reconsider the composition of participants' bond portfolios?"
(Russell Investments via Employee Benefit Research Institute)
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Largest Pension Plans' Funding Improved in 2010
"The funding levels of pension plans sponsored by large, publicly held U.S. employers improved slightly in 2010 due to strong investment returns and hefty contributions, according to a Milliman Inc. survey released Tuesday."
(Business Insurance)
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Catholic Archdiocese of Boston Is Faulted on Handling of Pensions
"[A Former archdiocesan chancellor] disclosed yesterday that he has asked Attorney General Martha Coakley and Secretary of State William F. Galvin to appoint an independent trustee to oversee the funds in order to protect lay workers from being financially harmed by the archdiocese's handling of the transition from a traditional pension plan to retirement accounts funded largely by employee contributions."
(The Boston Globe)
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[Opinion]
The Public Employees Pension Transparency Act: Presentation by Paul Zorn (PDF)
"Rather than providing meaningful measures, the proposed legislation could create a distorted picture of pension liabilities, driven largely by changes in 30-year Treasury bond yields. Rather than providing transparency, the measures would likely create confusion among decision-makers, potentially leading to the abandonment of public pension plans."
(National Council on Teacher Retirement)
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[Opinion]
The Pro-Social Security Case for Social Security Reform
"I'm on record saying Social Security is the last place in the federal government we should look for cuts. It's a lean, efficient program that, if anything, is too spartan. In 2009, the average monthly benefit was slightly more than $1,000 -- hardly lavish."
(The Washington Post; free registration required)
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Benefits in General; Executive Compensation
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Working Better: A Sense of Ownership Is Like a Sense of Lunch and 32 Other Things I Learned About Ownership Culture
What makes a great employee ownership company? Over the last 30 years, Corey Rosen has written about this in a series of columns for the NCEO's newsletter titled 'Working Better.' Drawing on lessons from employee ownership companies, research on employee engagement, and leading thinkers on both business and other issues, he looked at ideas that can truly make a difference. This book collects the best of these essays and adds updates and reflections on the issues they raise.
(National Center for Employee Ownership (NCEO))
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Press Releases
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