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April 25, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

[Guidance Overview]
Preparing to File Report of Foreign Financial Accounts by June 30, 2011
"A foreign financial account does not include: . . . (3) interests in a retirement plan that holds the account, or interests in an IRA that holds the account." (Pepper Hamilton LLP)


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[Guidance Overview]
Seventh Circuit Allows Fiduciary Breach Claims Regarding Unitized Company Stock Funds and Service Provider Fees
"The dissent criticized this decision for 'nitpicking with respect to perfectly legitimate [fiduciary] practices,' but we think the majority opinion focused more on the trial court's rationale than on the fiduciaries' conduct." (Thomson Reuters/EBIA)

Many State Workers Choosing to Retire Instead of Facing Cuts to Pay and Benefits
"The increase in retirements has exacerbated a problem that has developed over decades: the lack of qualified replacements for an aging state workforce . . . ." (Bloomberg LLP)

IRS Phone Forum Handout: Funding Standards and Relief for Single and Multiemployer Plans, April 28, 2011 (PDF)
"The presentation will focus on the rules under the Pension Protection Act, funding relief and relevant agency guidance, and key practical issues." (U.S. Internal Revenue Service)

Strong Investment Gains and Legislative Changes Speeding Public Pension Recovery (PDF)
"At the end of calendar year 2010, aggregate state and local government retirement system assets totaled $2.93 tril.lion, a 35 percent increase from their quarterly low point during the market collapse." (National Association of State Retirement Administrators / National Council on Teacher Retirement)

ERIC Responds to Support for PBGC Setting Premiums
"In a letter-to-the-editor of the Washington Post, ERISA Industry Committee (ERIC) President Mark Ugoretz said the group takes issue with a Post editorial supporting the ability of the [PBGC] to determine how much a company that sponsors a pension plan must pay in premiums based on the company's financial condition." (PLANSPONSOR.COM)

Law Firm Supports Making ESOP Valuators Fiduciaries
"Unlike other commenters on the [DOL's] proposed redefinition of fiduciary, the law firm of Lewis, Feinberg, Lee, Renaker & Jackson supports the inclusion of valuators of closely-held employer securities in the definition of fiduciary." (PLANSPONSOR.COM)

Public Fund Survey Summary of Findings for FY 2009 (PDF)
"The Public Fund Survey is an online compendium of key characteristics of most of the nation's largest public retirement systems. [Originally published November 2010.]" (National Association of State Retirement Administrators)

[Opinion]
The Pensions America Can't Afford
"Defined-benefit policies assume a static society. But we live in a dynamic society, and defined-benefit policies cannot keep up with constant change." (NYP Holdings, Inc.)

Benefits in General; Executive Compensation

[Guidance Overview]
Proposed SEC Rules to Require Revised Exchange Listing Standards for Compensation Committees
"The proposed rules would direct the exchanges to establish listing standards that would apply to any committee of the board of directors that oversees executive compensation, but would not require the listing standards to apply to independent directors who oversee executive compensation in lieu of a board committee." (Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.)

Enrolled Agent Fees Lowered from $125 to $30 in Final Regulations
"The Internal Revenue Service has finalized regulations in the April 19 Federal Register that reduce fees to $30 for the initial application and renewal by enrolled agents and enrolled retirement plan agents in order to practice before the IRS." (Wolters Kluwer Law & Business)

Best Practices in Employee Financial Education for Different Generations
"When designing financial education programs for employees, companies that keep in mind generational differences in viewpoints, learning styles and adaptation to technology build more effective programs." (Liz Davidson, Financial Finesse via 401khelpcenter.com)

Press Releases

US Labor Department Obtains Order Against Ohio-based Christopher Technologies and President to Restore More Than $37,000 to Worker 401(k) Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

US Labor Department Proposes Rule to Improve Employment of Protected Veterans
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

CIGNA Launches Enhanced International Employee Assistance Program
(CIGNA Corporation)

NCOA First in Nation to Offer Better Choices, Better Health to Employees
(National Council on Aging (NCOA))

Wide Range Found in 401k Total Plan Costs
(401k Averages Book)

TPA Signs On to Mid-Atlantic’s ModelxChange Platform
(Mid Atlantic Trust Company)

New “Digital Advantage” Product Suite Breaks Ground Delivering Exclusive Employee Benefits for Small- and Mid-Sized Employers
(Digital Insurance)


Employee Benefits Jobs

Customer Service Representative
for YMCA Retirement Fund in NY

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Webcasts and Conferences

Overcoming 401(k) Nondiscrimination Testing Woes
in District of Columbia on May 9, 2011 presented by Thompson Interactive, A Division of Thompson Publishing Group

The Fiduciary’s Role in the Self-Funded Industry: Avoiding Legal Landmines
in District of Columbia on June 9, 2011 presented by Thompson Interactive, A Division of Thompson Publishing Group

The New Form 8955-SSA: How to Be in Compliance
in District of Columbia on May 19, 2011 presented by Thompson Interactive, A Division of Thompson Publishing Group

Wellness Programs for a Multi-Generational Workforce
in District of Columbia on May 26, 2011 presented by Thompson Interactive, A Division of Thompson Publishing Group


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