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April 6, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

[Opinion]
Do We Want Public Pensions? There Are Compelling Reasons Why We Do
"So how did pensions get to be Public Enemy No. 1? To understand the anger, it helps to answer a more substantive question: How did a conventional vehicle for retirement savings become a time bomb in public budgets?" (Bloomberg BusinessWeek)


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[Guidance Overview]
Denial of Benefits to Former Trustee Upheld
"[T]he court ruled that, where a fiduciary 'shows such contempt for the beneficiaries to whom he owes a legal duty,' the entry of a permanent injunction barring him from receiving benefits in order to make the pension plan fund whole was not an abuse of discretion." (Wolters Kluwer Law & Business)

[Guidance Overview]
Payment of Wrap Fees by IRA/Roth IRA Owners Not Treated As Deemed Contributions
"The IRS concluded that the payment of wrap fees by IRA owners who participated in the investment advisory accounts would not deemed contributions to the owners' IRAs, if the payments were made directly from funds that were not part of the owners' IRAs." (Wolters Kluwer Law & Business)

Changing the Social Contract: Retirement Will Likely Have New Meaning for Many Baby Boomers
"As the first big wave of boomers dive into this next phase of their lives, some experts are abandoning the term 'retirement' altogether and redefining it as a third stage of life, longevity planning or lifestyle planning.' (Charter Financial Publishing Network Inc.)

Retirement Industry Acronyms and Abbreviations
"Like many industries, the retirement profession is acronym and abbreviation crazy. We have compiled this list of the more common acronyms and abbreviations to help those who are not familiar with their meaning." (401khelpcenter.com)

Maryland Lawmakers Approve Pension Changes
"Maryland lawmakers agreed to state pension and retiree health benefit changes that aim to increase the state's funding of its pension system from 64% to 80% by 2023." (PLANSPONSOR.COM)

Broker-Dealers Expect Some Changes If a New Fiduciary Standard Is Adopted
"[U]nder new regulatory guidelines, the broker-dealers' main defense in arbitration proceedings -- i.e., that brokers don't render advice and so aren't accountable for investment recommendations after they are executed -- might become a competitive liability as consumers seek advisors who are accountable for their investment recommendations." (Charter Financial Publishing Network Inc.)

[Opinion]
Law Firm Submits Comment on Proposed Regulation on Definition of 'Fiduciary' (PDF)
"ESOP valuators are appropriately viewed as investment advisors and should be held to ERISA's high standards of conduct." (Lewis, Feinberg, Lee, Renaker, & Jackson, P.C.)

Benefits in General; Executive Compensation

[Official Guidance]
Text of SEC Proposed Rule: Listing Standards for Compensation Committees (PDF)
"[T]he proposed rule would direct the exchanges to establish listing standards that, among other things, require each member of a listed issuer's compensation committee to be a member of the board of directors and to be 'independent,' as defined in the listing standards of the exchanges adopted in accordance with the proposed rule." (U.S. Securities and Exchange Commission)

[Guidance Overview]
SEC's Proposed Rule on Listing Standards for Compensation Committees
"[T]he SEC has proposed new Exchange Act Rule 10C-1 ('Proposed Rule 10C-1') for compensation committee listing standards and an amendment to Regulation S-K for disclosures of the use of compensation consultants ('S-K Amendment')" (PricewaterhouseCoopers LLP)

[Guidance Overview]
New Rule Takes Aim at 'Flawed Compensation Practices'
"The rule takes aim at preventing what the agencies called 'flawed incentive compensation practices in the financial industry [that] were one of many factors contributing to the financial crisis that began in 2007.'" (American Institute of Certified Public Accountants)

[Guidance Overview]
SEC's Proposed Rules Requiring Listing Standards for Compensation Committees and Compensation Consultants
"Once an exchange's new listing standards are in effect, a listed company must meet these standards in order for its shares to continue trading on that exchange." (Wilson Sonsini Goodrich & Rosati)

Executives Receiving Higher Bonuses So Far This Year, As the First Proxies Are Filed and Analyzed
"If 2010 is an indication, bonuses should continue to rise, based upon compensation targets and company and industry performance." (Human Resource Executive Online)

Press Releases


Employee Benefits Jobs

Defined Benefits Administration Manager in IN for Buck Consultants, a Xerox Company

Operational Risk Manager in CA, OH for Transamerica Retirement Services Corporation

Junior Pension Administrator/Service Associate in CA for The Senex Group, Woodland Hills, California

Retirement Plan Administrative Assistant in FL for Matthews Benefit Group, Inc.

Director, Colleague Benefits in MI for Ilitch Holdings, Inc.

Director of Development Services in GA for McCamish Systems, An Infosys Company

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Webcasts and Conferences

"Retirement Plans - Mergers & Acquisitions: An Overview" Web Seminar
Nationwide on May 3, 2011 presented by SunGard Relius

3rd Annual Retiree Healthcare Congress
in Illinois on May 16, 2011 presented by Global Media Dynamics

AFTAP, Annual Funding Notices, and the Schedule SB Webcast
Nationwide on July 14, 2011 presented by National Institute of Pension Administrators

Back to School on Cash Balance/DC Combo Designs Webcast
Nationwide on September 20, 2011 presented by National Institute of Pension Administrators

DOL Enforcement and Penalties for Late and Incomplete 5500 Filings
Nationwide on May 10, 2011 presented by ABA Joint Committee on Employee Benefits

DOL: Audits, VFCP AND DFVCP Webcast
Nationwide on June 16, 2011 presented by National Institute of Pension Administrators

EFAST2 and PTINs Webcast
Nationwide on April 19, 2011 presented by National Institute of Pension Administrators

Ethics Webcast
Nationwide on June 7, 2011 presented by National Institute of Pension Administrators

Ethics Webcast
Nationwide on December 13, 2011 presented by National Institute of Pension Administrators

Fraud in Employee Benefit Plans
in California on May 12, 2011 presented by No. Calif. Chapter of Certified Employee Benefits Specialists (ISCEBS)

Investing in a Healthy Culture: Achieving Results via a Healthy Enterprise
in Illinois on April 28, 2011 presented by WEB - Chicago West

Plan Terminations Webcast
Nationwide on October 18, 2011 presented by National Institute of Pension Administrators


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