Funding Deficiencies Reported on Form 5500 Will Trigger IRS Compliance Check
"The purpose of this initiative - the 'Funding Deficiencies Project' - is to determine whether the plan sponsor corrected the deficiency, filed the required excise tax returns and paid the appropriate excise taxes." (Deloitte via BenefitsLink.com)

Enroll in NIPA’s spring APA/APR exams by April 30! [Advert.]

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CalPERS Adopts 12-Point Set of Federal Legislative Policy Priorities for DB Plans
"The priorities - that will serve as a road map for advancing CalPERS federal governmental goals on retirement - outline CalPERS positions on retirement benefits, funding and accountability of pension plans, and Social Security." (PLANSPONSOR.COM)

A Michigan Pension Tax May Spur Snowbirds to Relocate
"Tens of thousands of Michigan residents who already spend part of the year in Florida and other havens with warmer climates and lower taxes will be tempted to move their official residence out of Michigan if the state starts taxing pensions, tax planners say." (The Detroit News)

Some 403(b) Plan Errors Ineligible for VCP, IRS Advises
"Ineligible submissions include cases where: the plan's written program did not satisfy the legal requirements under Code Sec. 403(b) and the related final regulations, or the plan failed to adopt a written plan program before December 31, 2009; or the plan failed to operate according to its written program's terms." (Wolters Kluwer Law & Business)

DROP Pensions: A Sound Investment or a Waste of Taxpayer Money?
"One way plans can get into trouble and cost the state money is by assuming unrealistically high interest rate returns on the dollars set aside during the DROP period and given as a lump sum to the workers when they retire. Another way to balloon the payout is to let workers stay past the three to five years that a DROP period typically allows." (The Pew Charitable Trusts)

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Mutual Funds Most Used by DC Plans
"Fidelity Investments, The Vanguard Group Inc. and Capital Research & Management Co. retained the top three spots, although only Vanguard managed to exceed the 17% combined gain for the top 25." (Pensions & Investments; free registration required)

IRS Decision Due on Orange County, California, Hybrid Plan
"Executives of the county and the Orange County Employees Association, the largest union representing county employees, want the Internal Revenue Service to ease restrictions of a 5-year-old ruling that has severely limited the scope of the hybrid plan, even though the ruling itself wasn't related to the county or to the new plan." (Pensions & Investments; free registration required)

Pension Risk and Your Retirement: Understanding Retirement Risk and Overcoming Challenges through Public Policy Options (PDF)
Capital Hill briefing presentation, April 4, 2011. 'Key questions: Where can pension risk be borne? Where should pension risk be borne? Are certain pension plans riskier than others? How can risk be mitigated or shared?" (American Academy of Actuaries)

Let's Build a Defined Contribution Services Company from Scratch (PDF)
"What if we could start over and create a DC provider called Blank Slate, Inc. - not changing the federal rules, but building a different business model around them? How might we do the job differently?" (Still River Retirement)

Range Between High and Low Plan Costs Moderate for Most 401(k)s
"Total plan costs for running a 401(k) can vary widely, but for most employers the range between high and low total plan costs is moderate, according to the 401k Averages Book study." (PLANSPONSOR.COM)

Is a Roth IRA the Best Option All the Time?
"Why wouldn't a Roth be a 'one size fits all'? Here are three reasons you might consider: investment contribution limits; 401k employer match; uncertainty about future tax rates." (Retirement Online LLC)

Labor Mobility, Pension Portability and the Lack of Lock-In Effects
"We conclude that potential portability gains or losses in occupational pensions are of negligible importance for labor market mobility." (Social Science Research Network)

What 401k Plan Sponsors Might Expect from Proposed Fiduciary Rules
"[I]t goes without saying imposing a fiduciary standard will narrow investment choices. After all, that is the point of the DOL's rule. The Department wishes to remove, to the extent possible, all obvious conflicts of interest." (Fiduciary News)

American Benefits Council Letter to PBGC on Reducing Regulatory Burdens (PDF)
"[T]he Council urges the PBGC to carefully review its reporting and disclosure rules to ensure that they are appropriately tailored to the PBGC's needs." (American Benefits Council)

Time to Update ERISA Fiduciary Rule
"The proposed rule would hold financial professionals who present themselves as expert purveyors of investment advice more accountable for that advice, allowing plan sponsors to be secure in the knowledge that outside advisers are giving them the best possible guidance." (Phyllis C. Borzi via Pensions & Investments)

Truncated SSNs Allowed on Some 2011-2012 IRS Forms, Including Form 1099
"Partial social security numbers (SSN) may be used on certain paper payee statements for 2011 and 2012 calendar years despite form instructions stating a 2009 pilot program expired." (Mercer LLC)

Employee Ownership Update for April 18, 2011
On March 29, Congressman Ron Kind introduced the pro-ESOP 'Promotion and Expansion of Private Employee Ownership Act of 2011.' IPOs have declined, and secondary markets for private company shares have arisen; now the SEC is considering changing the 500-shareholder de facto public company rule. You can nominate a company for the 2011 'Principal 10 Best Companies for Employee Financial Security' award. Corey Rosen has become the NCEO's senior staff member; Loren Rodgers is the new director. (National Center for Employee Ownership (NCEO))

Career Advice for the New(er) ERISA Lawyer
April 28, 2010, publication. 'What should the new ERISA attorneys do to advance their careers? Here are some tips: Stay current. . . . Network. . . . Master a Hot Topic. . . . Never publish anything only once." (Posted by the late Nell Hennessy, Esq.; Bureau of National Affairs, Inc.)

Reforming Tax Expenditures Can Reduce Deficits While Making the Tax Code More Efficient and Equitable
"In addition, in some cases, such tax credits would be more efficient if the maximum tax credit amount were capped, so that more of our limited resources could be channeled into effective incentives for homeownership, retirement saving, and college education, and fewer resources used to subsidize more lavish homes or more generous health insurance." (Center on Budget and Policy Priorities)

Washington Post Supports PBGC Premium Authority
(Pension Benefit Guaranty Corporation (PBGC))

Still River Introduces Consulting Service
(Still River Retirement Planning Software, Inc.)

US Labor Department Sues Stevensville, Mich.-based Metal Processors and Owner to Restore More than $16,000 to Company’s 401(k) Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

CPI Hosts Chicago Retirement Academy Conference
(CPI Qualified Plan Consultants, Inc.)

DATAIR Employee Benefit Systems, Inc.

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Senior Pension Plan Administrator
for The Huntting Company in CA

Compliance Specialist - Retirement Plans
for General Board of Pension and Health Benefits / Wespath Investment Management in IL

Operations Manager
for Benetech, Inc. in TX

Administrator - DC Plans
for Benetech, Inc. in TX

Manager National Acct Consultants
for The Standard in OR

Retirement Consultant - IRC26229
for Lincoln Financial Group in LA

Sr. Relationship Manager
for MassMutual Financial Group in NJ, NY

Senior DC/DB Plan Administrator
for Pen-Cal Administrators in CA

Lead Manager - Retirement Plan Services Compliance Services
for T. Rowe Price in MD

Pension Administrator in Northern New Jersey
for TPA Firm in Northern New Jersey in NJ

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"401(k) Plan Current Issues Workshop" - St Louis
in Missouri on May 20, 2011 presented by SunGard Relius

"Form 5500/EFAST 2 Workshop" - St Louis
in Missouri on May 19, 2011 presented by SunGard Relius

401(k)Rekon Advisor Symposium- Costa Mesa
in California on May 17, 2011 presented by 401(k) Rekon

Benefits Buzz for Innovative Employers
in Florida on April 27, 2011 presented by AGIS-FL Agency Inc

HIPAA and Other Health Benefits Laws: Compliance Assistance Seminar
in Delaware on June 7, 2011 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

HIPAA and Other Health Benefits Laws: Compliance Assistance Seminar
in North Carolina on June 28, 2011 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

The ABCs of Pension Law
in California on May 4, 2011 presented by Western Pension & Benefits Conference - Orange County Chapter