Michigan Governor, Republican Lawmakers Announce Plan to Tax Retirees' Income Up to Age 67
"Republican Gov. Rick Snyder had wanted to tax all retirement income the same as normal income . . . . The compromise reached with Republican lawmakers would exempt seniors over age 66 from the tax." (The Washington Post; free registration required)

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Find out what made ftwilliam.com a success last year by signing up for one of our FREE 5500 software webinars. We’ll cover conversion, streamlined data entry, edit checking, workflow and different e-filing methods, including our integrated web-portal.

Constitutional Contracts Clause Challenges in Public Pension Litigation
"Because of the lack of legal uniformity in public pension regulation from one state to the next, the only possible way to determine whether state curtailment of public employee pension rights will be constitutional is by undertaking an in-depth legal analysis of the applicable pension laws, regulations, ordinances, court opinions, and prior case settlements." (Social Science Research Network)

Selected 2011 State Pension Reform Proposals thru Mid-March 2011
"It is not a comprehensive or complete listing of legislation proposed or introduced in that period, but is a highly selective choice intended to communicate the kinds of issues governors and legislatures are facing in 2011." (National Conference of State Legislatures)

Abusive IRAs Make The IRS' 'Dirty Dozen' Tax Schemes
"The IRS continues to find abuses in retirement plan arrangements, including Roth Individual Retirement Arrangements (IRAs). The IRS is looking for transactions that taxpayers use to avoid the limits on contributions to IRAs, as well as transactions that are not properly reported as early distributions." (Groom Law Group)

Four Retirement Plan Tax Mistakes to Avoid
"Consider, for instance, that an individual with a tax-filing status of married-filing-jointly, with an adjusted gross income up to $33,500 for 2010, can get a nonrefundable credit - Savers Credit - of 50 percent, not to exceed $1,000, of the contribution amount . . . ." (McClatchy Company)

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Do Social Security Statements Affect Knowledge and Behavior?
"[F]indings suggest that the Statement might improve knowledge, but provide no information about whether it changes behavior. Both topics are the subject of this brief . . . ." (Center for Retirement Research at Boston College)

Guidance on Section 457(f) Plans in Clearance, IRS Official Says
"The Section 457(f) guidance will cover various nonqualified plans, including severance and vacation pay plans, whose salary deferral limits exceed the $16,500 or $22,500 catch-up limits of tax code Section 457 plans . . . ." (Tax Management Inc.)

Public Pension Policy in Illinois: An Introduction to a Crucial Issue (PDF)
The Illinois state government funds five public employee retirement systems, including: State Employee Retirement System; Downstate Teachers' Retirement Systems; State Universities Retirement System; Judges Retirement System; and, the General Assembly Retirement System. (Institute of Government and Public Affairs)

Detroit Mayor Pushes for Benefits Overhaul
"[The mayor] said the city also must eliminate the '13th check' -- an annual bonus to retirees beyond the required 12 monthly pension payments. Bing said the 13th-check payments, including interest, cost the city $1 bil.lion between 1998 and 2008 -- and decreased the pension funds' investment assets by $900 mil.lion." (Crain's Detroit Business)

Ohio Deferred Comp Program Launches New Web Site
"Ohio DC provides retirement savings to more than 190,000 active and retired public employees and currently has assets of more than $8.4 bil.lion." (PLANSPONSOR.COM)

Corporate Pension Funded Status Improves As Interest Rates Rise in March
"The funded status of the 100 largest corporate defined benefit pension plans improved by $16 bil.lion during March 2011, as measured by the Milliman 100 Pension Funding Index . . . ." (Milliman, Inc.)

[Opinion]
The Rising Price of Retirement
"As more people work part-time rather than hit the greens, the formula for how much they need to live on is changing. Their tax rate may not fall, and expenses may be higher than planned[.]" (Bloomberg BusinessWeek)

[Guidance Overview]
Incentive Compensation Under Dodd-Frank Regulations (PDF)
"The proposed rules are similar to those already applicable to insured depository institutions and their holding companies under Section 39 of the Federal Deposit Insurance Act." (Dechert LLP)

[Guidance Overview]
DOL May Allow Expanded Electronic Disclosure by Employee Benefit Plans
"[EBSA] on April 7 announced that it is welcoming comments on whether it should expand, beyond the current safe harbor allowing it, plan administrators' ability to electronically furnish information that ERISA says must be provided to participants about an employer's benefit plan. This would apply to summary plan descriptions and other documents by which participants are given information about the plan." (Thompson Publishing Group)

GAO Testimony: Financial Literacy: The Federal Government's Role in Empowering Americans to Make Sound Financial Choices
"The multiagency Financial Literacy and Education Commission, which coordinates federal efforts, has acted on recommendations GAO made in 2006 related to public-private partnerships, studies of duplication and effectiveness, and the Commission's MyMoney.gov Web site." (U.S. Government Accountability Office)

Evolution Benefits Hosts Annual PayDirect® User Conference
(Evolution Benefits)

US Labor Department Sues Trustee of Cranston, RI, 401(k) Plan to Restore Employee Contributions
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

CareCounsel Appoints Director of Sales
(CareCounsel)

Milliman Analysis: Rising Interest Rates Improve Pension Funding
(Milliman USA)

International Foundation Announces Annual Conference Keynote Speakers
(International Foundation of Employee Benefit Plans)

New ftwilliam.com DB(k) Document: An Industry First for Leveraging DB(k) Plans
(ftwilliam.com)

Local Company Launches Money-Saving Health Plan for Maryland Small Businesses
(WellNet)

USI Consulting Group Announces New Benefits in Focus Webcast
(USI Consulting Group)

New Law May Prevent Employees From Getting Their Full Pension
(Pension Department, Inc.)

DATAIR Employee Benefit Systems, Inc.

Definition of a Fiduciary
in California on April 21, 2011 presented by Western Pension & Benefits Conference - Orange County Chapter

Employee Benefits for Domestic Partners: Design, Taxation, and Administration
Nationwide on April 7, 2011 presented by EBIA / Thomson Reuters

See ftwilliam.com’s Form 5500 Software in Action
Nationwide on May 6, 2011 presented by ftwilliam.com

See ftwilliam.com’s Form 5500 Software in Action
Nationwide on May 18, 2011 presented by ftwilliam.com

See ftwilliam.com’s Form 5500 Software in Action
Nationwide on May 31, 2011 presented by ftwilliam.com