|
|
[Guidance Overview]
ERISA Class Exemption Change for INHAMs Released
"Federal regulators have released a final amendment to Prohibited Transaction Exemption 96-23 that broadens the transactions allowed for employee benefit plans whose assets are managed by in-house asset managers (INHAMs)."
(PLANSPONSOR.com)
|
|
Loan Defaults Costly for Certain Group of Participants
"A Financial Literacy Center working paper suggests that overall, one in ten plan loans results in a default, and eight of ten workers who leave a job with a plan loan outstanding then default on that loan."
(PLANSPONSOR.com)
|
|
Your Product + Our Readers = $$ (advert.)
Advertise your company's products and services in the BenefitsLink newsletter. Our subscribers care about employee benefit plan compliance, administration, costs and design. Contact Mary Hall for details.
|
|
Governor Takes Aim at California Public Pension Abuses
"[California Governor Jerry] Brown, a Democrat, offered seven measures yesterday that among other things would prohibit employees from pension 'spiking' by manipulating overtime, unused vacation and special compensation to create an inflated benchmark for future benefits. Other bills would ban retroactive benefits and forbid workers from purchasing additional service credits."
(Bloomberg)
|
Public Pensions Show Gains, But Doubts Linger
"U.S. public pension funds' investments are making gains, according to government data released on Thursday, but the gains may not be enough to cover looming shortfalls."
(Reuters)
|
ERISA 3(21) vs. 3(38) -- A Distinction without a (Practical) Difference?
"[S]ome commentators have attempted to use these statutory differences to assert that investment advisors have no legal liability because they are providing nondiscretionary advice, while investment managers completely shield plan sponsors from legal liability by acting with discretion. Upon closer inspection, however, these theoretical distinctions quickly break down."
(Robert J. Toth, Jr.)
|
Rethinking Defined Contribution Retirement Plan Design
"Many workers make decisions about saving and investing for retirement that are unlikely to produce an adequate retirement income. On December 3, 2010, the TIAA-CREF Institute hosted a forum that convened experts in behavioral economics, actuarial science, decision-making, and financial education and advice to examine creative uses and combinations of defined contribution plan features . . . ."
(TIAA-CREF Institute)
|
|
[Opinion]
Text of ASPPA Comments to DOL on Various Regulatory Projects
On March 31, 2011, ASPPA submitted comments to the U.S. Department of Labor in response to its request for comments on how it can improve its regulations. ASPPA's recommendations relate to: (1) the exclusion of 403(b) contracts prior to 2009; (2) electronic disclosure as the default option; and (3) a self-correction program for VFCP. (American Society of Pension Professionals & Actuaries
(ASPPA))
|
Benefits in General; Executive Compensation
|
|
Underfunded State Pension Plans Create Credit Risk
"[S]tates that continue to fail to meet required annual pension obligations could very well be penalized by the credit-rating services, negatively affecting their ability to borrow . . . ."
(Business Insider)
|
Employee Ownership Update for March 31, 2011
Corey Rosen discusses the following topics and more: ESOP-owned Web Industries has developed an innovative new radiation measurement product that fits on a small card. Directed trustees have very limited fiduciary responsibility but may do a lot of work. The taxation of employee stock purchase plans is sufficiently complex that even people who know the field sometimes get confused. The NCEO's annual conference is coming up, as is the Great Game of Business conference.
(National Center for Employee Ownership)
|
Press Releases
|