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April 4, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues

[Official Guidance]
Text of Final Regulations Governing the Performance of Actuarial Services Under ERISA (PDF)
"These regulations update the eligibility requirements for performing actuarial services for ERISA-covered employee pension benefit plans, including the continuing professional education requirements, and the standards for performing such actuarial services." (Joint Board for the Enrollment of Actuaries)


The IRS in Your Backyard! (advert.)

Sponsored by ASPPA

Come discuss employee benefits issues with industry colleagues and local, regional and national experts from the IRS, DOL and the private sector. Programs focus on current regulatory, legislative, administrative and actuarial topics.


[Official Guidance]
Text of PBGC Request for Comments on Reducing Regulatory Burden (PDF)
"The [PBGC] is reviewing its regulations in response to the President's Executive Order 13563 on Improving Regulation and Regulatory Review." (Pension Benefit Guaranty Corporation)

[Official Guidance]
Correction to Code of Federal Regulations; Single-Employer Plan Termination Initiated by PBGC (PDF)
A portion of the regulations previously issued by the PBGC was omitted from the Code of Regulations, revised as of July 1, 2010: Section 4042.5 ("Disclosure of Administrative Record by PBGC"). (Pension Benefit Guaranty Corporation)

[Guidance Overview]
It Is Time Again for Firms to Consider Hybrid Plans, Such As Cash Balance Plans? (PDF)
"Sometime, probably late in the summer or early in the fall, Treasury will issue final regulations with respect to the 2010 proposed regulations and with respect to as many of the 2010 questions as they feel they can address within the constraints of the administrative process." (Law Firm Partnership & Benefits Report via Buck Consultants)

[Guidance Overview]
Mixed Ruling in Suit Over AIG Employees' Pension Losses
"While [the judge] dismissed some allegations in the lawsuit, other charges she refused to dismiss include misrepresentation or omission to plan participants, duty of prudence and duty to monitor, among others." (Business Insurance)

Target-Date Debate Shifts to Postretirement Allocation Changes
"In a nuanced shift in the 'to versus through' debate over target-date funds (TDFs), the focus has moved to how asset allocation should change after a fund passes its retirement date, from the previous discussion about whether equities should continue to play a significant role in investors' allocations after retirement." (The Vanguard Group, Inc.)

NAGDCA 2011 Survey of DC Plans (PDF)
"[A]ccording to NAGDCA, as of December 31, 2010, the average participant account balance for the responding state and local government plans was $41,243 . . . ." (National Association of Government Defined Contribution Administrators, Inc.)

EEOC Sues Another New York Town for Pension Age Discrimination
"Volunteer fire companies in the Town of Clarence, New York, violated federal law by preventing older firefighters from accruing service credits because of their age . . . ." (PLANSPONSOR.COM)

Target-Date Fund Managers Seek to Increase Diversification, Mitigate Risk
"In 2009, at least five target-date fund companies 'significantly changed their series asset allocations,' according to a 2010 report by investment researcher Morningstar Inc. Others have tweaked their management strategies." (MarketWatch, Inc.)

Funded Ratios for States' Pensions Continue to Weaken
"The funded ratio--which measures the value of assets against accrued liabilities--was 75% in fiscal 2009, the latest year for which complete data are available, down from 80% in fiscal 2008, S&P said." (Dow Jones & Company, Inc. via Morningstar, Inc.)

2011 Pension Funding Study: Modest Increase in 2010 Funded Status as a Result of Record Employer Contributions (PDF)
"In 2011, these plans experienced asset returns of 12.8% (a $115 bil.lion improvement) that were offset by a liability increase of 7.7% (a $103 bil.lion increase) based on a decrease in the discount rate." (Milliman, Inc.)

[Opinion]
Full 401(k) Disclosure Has Been Long Overdue
"Just so you know, a high-performance 401(k) plan costing participants just a half-percent per year, with a smattering of index funds, will outperform popular financial industry offerings by 2 percent or more per year on a weighted average basis." (Bay Area News Group via Contra Costa Times)

Benefits in General; Executive Compensation

Academic Study Dispels Foolish Notions on Compensation
"Contrary to previous studies, which attempt to relate certain executive compensation practices to the creation of shareholder value, this work demonstrates beyond reproach the true elements of shareholder value creation." (Michael S. Melbinger via Winston & Strawn LLP)

Celebrate Financial Literacy Month
"April marks the beginning of Financial Literacy Month, a time during the year when we can all take a few minutes to brush up on our financial knowledge to make the most of our money." (WISER)

Press Releases


Employee Benefits Jobs

Account Manager in TX for Nova 401(k) Associates

Marketing Annuity Communications Specialist in MA for Boston Financial Data Services

Post Your Job on EmployeeBenefitsJobs.com

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Webcasts and Conferences

2011 Psychologically Healthy Workplace Conference
in Illinois on April 8, 2011 presented by American Psychological Association

Checking the Pulse on Health Savings Accounts
Nationwide on April 21, 2011 presented by TRI-AD

Raise the Impact of Your 401(k) Through Effective Communications
Nationwide on May 19, 2011 presented by TRI-AD


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David Rhett Baker, J.D., Editor and Publisher
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