statistics counter
To BenefitsLink home page

BenefitsLink Retirement Plans Newsletter

View all employee benefits jobs on EmployeeBenefitsJobs.com
March 30, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues

[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)


Innovative, integrated and intuitive document software! (advert.)

Sponsored by ftwilliam.com

Try our document software by signing up for our free demo. You will be able to access any of our Retirement, Welfare and Non-Qualified documents and try our productivity and automation tools - free. Don’t forget to ask about free data conversion.


[Guidance Overview]
PBGC Issues Proposed Regulations on Phase-In of Guarantee for Shut-Down Benefits (PDF)
"The PBGC has issued proposed regulations interpreting the PPA provision that changed the rule for phasing-in shutdown and other unpredictable contingent event benefits for purposes of the PBGC's guarantees." (Buck Consultants)

[Guidance Overview]
Cash Balance Interest Credits that Stop at Early Retirement Age Do Not Violate the Prohibition Against Reducing Benefit Accruals on Account of Age
"The court held that the formula at issue did not violate ERISA § 204(b)(1)(H)(i) - which prohibits a defined benefit plan from reducing an employee's benefit accruals because of the attainment of any age - because it determined the interest credits were not benefit accruals in this specific situation." (Deloitte via BenefitsLink.com)

[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)

[Guidance Overview]
Breach Claims against Investment Consultants Allowed to Proceed
"The trustees of a Nevada supply company's 401(k) plan can proceed with their suit that alleges a plan consultant committed a fiduciary breach by convincing the plan to invest in questionable funds." (PLANSPONSOR.COM)

Fiduciary Resource Centers Target Specific Needs
Vanguard has created separate resource centers for: nonprofit organizations, defined contribution plans, and defined benefit plans. (The Vanguard Group, Inc.)

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)

Funding Relief Act Provides Only Modest Relief; Better Equity Returns Give More Relief
"Towers Watson projects that the average defined benefit plan funding ratio is improving because of increased contributions by plan sponsors and positive asset returns." (Wolters Kluwer Law & Business)

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)

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)

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)

Record Levels of Employer Contributions Lead to a Small Gain in Pensions' Funded Status
"The Milliman 100 companies contributed a record $59.4 bil.lion to their defined benefit pension plans in 2010, producing an improvement in funded status of $12.4 bil.lion for the year." (Milliman, Inc.)

Alabama Retirement Program for Older Public Workers Repealed
"Alabama Governor Robert Bentley has signed a bill killing the state's Deferred Retirement Option Program . . . ." (PLANSPONSOR.COM)

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)

[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)

[Opinion]
Comparison 'Points:' Some Interesting, If Not Completely Meaningful, Information about Retirement Plans
"Here are some of the industry 'data points' that, IMHO, are things we probably shouldn't care about." (PLANSPONSOR.COM)

[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)

Benefits in General; Executive Compensation

[Guidance Overview]
SEC Staff Updates Interpretive Guidance on Executive and Director Compensation Disclosure Rules (PDF)
"The most recent guidance has been released over the last several months in response to the Dodd-Frank financial reform legislation. The interpretative guidance is briefly summarized [in the target page] with the most recent guidance presented in italics." (Frederic W. Cook & Co., Inc.)

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))

[Opinion]
GE's Soaring Profits Won't Stop It from Slashing Employee Benefits
"Among the major concessions GE has signaled that it will ask of union workers is the elimination of a defined [benefit] pension for new employees, a move the company has already implemented for its non-union salaried employees." (CBS Interactive)

Press Releases

PBGC Helps Preserve Pensions for 53,000 People in the First Quarter
(Pension Benefit Guaranty Corporation (PBGC))

Hogge Sentenced In Health Care Fraud Scheme
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

US Department Of Labor Publishes Public Hearing Transcript Regarding Proposed Regulation On Definition Of Fiduciary
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Reporting is Voluntary for All Employers for 2011 and Small Employers for 2012
(Internal Revenue Service (IRS))

New Research from EBRI: Employer Contributions to Account-Based Health Plans Drop in 2010
(Employee Benefit Research Institute (EBRI))

Workers’ Attitudes About the Future of Social Security and Medicare
(Employee Benefit Research Institute (EBRI))

Retaining Key Employees as Job Market Improves
(Principal Financial Group)

Fiduciary Benchmarks Announces Partnership With M Financial Group
(Fiduciary Benchmarks, Inc.)

Landmark Victory for Wisconsin Workers on Paid Sick Days
(Family Values @ Work)


Employee Benefits Jobs

Plan Administrator for Retirement Plan & ERISA Specialists in IL for Dana Consulting Group, Ltd.

Client Services Relationship Manager I in AZ for WilmingtonTrust Company

Account Executive- Employee Benefits in LOCATION OTHER THAN U.S., IL for The Plexus Groupe

Team Manager - Installation Services in CA for Transamerica Retirement Services Corporation

Pension Participant Service Specialist in WI for CUNA Mutual

Sales & Marketing Interaction Ctr Team Leader in WI for CUNA Mutual

Contact Center Sales Representative in WI for CUNA Mutual

Sr. Mgr, Customer Operations in WI for CUNA Mutual

Client Service Manager (CSM) in CA for TRI-AD

Sr. Licensing & Commissions Specialist in CA for Transamerica Retirement Services Corporation

Consultant, 401(k) in IL for Blue Cross and Blue Shield Association

Post Your Job on EmployeeBenefitsJobs.com

View All Jobs

RSS feed for jobs RSS Feed: All Jobs


Webcasts and Conferences

A-4 Exam
Nationwide on May 19, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)

Certified Pension Consultant (CPC) Exam
Nationwide on June 14, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)

EA-2B Review Course
in Virginia on April 1, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)

ERPA-SEE Registration Deadline
Nationwide on July 6, 2011 presented by AIRE, LLC (American Institute of Retirement Education)

Retirement Plan Basics - 401(k) Plan Basic Operation
in California on May 18, 2011 presented by Actuarial Consultants, Inc.

Retirement Plan Basics - 401(k) Plan Basics Operation
in California on May 3, 2011 presented by Actuarial Consultants, Inc.

Retirement Plan Basics - Annual Plan Administration
in California on May 3, 2011 presented by Actuarial Consultants, Inc.

Retirement Plan Basics - Annual Plan Administration
in California on May 18, 2011 presented by Actuarial Consultants, Inc.

Spring Exams Final Registration Deadline
Nationwide on May 11, 2011 presented by ASPPA (American Society of Pension Professionals & Actuaries)


Subscribe to the free BenefitsLink Health & Welfare Plans Newsletter, Too!


This email has been published by:
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151

Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher
dbaker@benefitslink.com

Copyright 2011 BenefitsLink.com, Inc., but feel free to forward this newsletter in its entirety.

Useful links: