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May 5, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

[Official Guidance]
Text of Notice of Proposed Individual Prohibited Transaction Exemptions (PDF)
"This notice includes the following proposed exemptions: . . . North Trust Corporation; . . . The United Brotherhood of Carpenters Pension Fund . . .; . . . Wolverine Bronze Profit Sharing Plan and Trust . . . and . . . Verizon Wireless . . . ." (U.S. Employee Benefits Security Administration)

DATAIR Government Forms Software [Advert.]

Sponsored by DATAIR Employee Benefit Systems, Inc.

EFAST2-approved 5500s with all schedules and PBGC forms, 1099Rs, 5300 series, FAS 158 (license only the modules you need). Built-in verification and expert live support assures accuracy. PC-based software for economy and maximum security.

Public Employee Retirement Plans, the 401(k) Myth, and the Average Assumed Rate of Return on Assets (PDF)
A series of articles by Gary Findlay. (Asset International, Inc. via Gabriel, Roeder, Smith & Company)

The Problem with Living Too Long May Be Insufficient Income in Retirement (PDF)
"[T]his is a piece that's intended to stimulate thinking, perhaps even debate. Our goal is to get people to consider the issues facing retirees -- including, in this case, the risk of longevity." (Drinker Biddle & Reath LLP)

The Underfunding of State and Local Pension Plans
"This issue brief discusses alternative approaches to assessing the size of [structural shortfalls in state and local pension plans] and their implications for funding decisions." (U.S.. Congressional Budget Office)

Average Funded Ratio for Pensions Estimated to Increase from 77% to 82% in 2010
"Towers Watson estimates that for year-end December 2010, 9.98% of the plans will be funded 100% or more." (Wolters Kluwer Law & Business)

What the New Puerto Rico Tax Code Means for Retirement Plans
"Rather than reinventing the wheel, the new retirement plan provisions are modeled after the corresponding plan rules of the U.S. tax Code. As a result, plan sponsors, benefits practitioners and P.R. officials can look to guidance from the IRS." (Tax Management Inc.)

CalPERS to Launch Retiree 'Ambassador' Program
The purpose of the program is to build support for defined benefit public pensions. (The Sacramento Bee)

Proposals Would Cut Benefits for California Employees 25% to 40%
"In an analysis of two concepts, the nonprofit California Foundation for Fiscal Responsibility warns that the state's five biggest pension funds are in precarious financial conditions." (Los Angeles Times)

Setting Retirement Savings Goals Leads to Increased Engagement
"When people set a goal for their retirement savings, they tend to be more engaged in actively planning for their retirement, according to a survey of more than 2,400 plan participants conducted by Diversified's Retirement Research Council." (PLANSPONSOR.COM)

The Five Biggest Myths About 401(k) Plans
"[Several myths are] that 401(k) participants need investment advice, that fee disclosure would enable them to 'shop' for lower-fee investments, that 401(k) plans benefit the wealthy and that Americans would be better off with regular pensions." (Retirement Solutions, LLC)

It's Time to Focus on the Costs of Kansas City's Retirement Plans
"The 10-member [Pension System Task Force] panel needs to tackle two tough questions: What is a reasonable retirement income for all city employees? And how much can taxpayers afford to contribute to the city's four pension systems?" (The Kansas City Star)

Benefits in General; Executive Compensation

[Guidance Overview]
National Education Association's Endorsement, Aggressive Marketing of Tax-Sheltered Annuities Did Not Create an ERISA Plan
"As a result, the appellate court upheld the dismissal of an employees' lawsuit against the union. The employees 'have only themselves to blame for trying to fit the square peg of defendants' alleged misconduct into the round hole of an ERISA suit,' suggesting that these annuity contracts are not regulated by ERISA but by the securities laws . . . ." (Wolters Kluwer Law & Business)

Majority of Seniors Fear Public Policy Will Derail Their Retirement Plans
"More than half of retirees ages 55 to 79 fear that changes to the Medicare and Social Security programs, as well as increases in taxes, will affect their ability to afford retirement, according to new LIMRA research . . . ." (Wolters Kluwer Law & Business)

Real-World Example of the Nuances of Clawback Provisions
"Clawing-back ill-gotten gains sounds like a no-brainer -- until you get into the details. Anyone who has guided a Board or Compensation Committee through the process of designing and adopting a clawback provision (or a definition of 'For Cause' termination) recognizes that there is a lot of gray area out there." (Michael S. Melbinger via Winston & Strawn LLP)

Employee Benefits Jobs

Account Manager for Self-Funded Employer Groups
for BenefitMD in WA

Senior Employee Benefit Consultant
for Plante & Moran, PLLC in MI, OH

Inside Sales Associate
for Financial Engines in AZ

Senior Marketing Communications Associate - Defined Contributions Market
for Security Benefit in KS

Participant Counselor
for Diversified in GA

Account Manager - TPA/Insurance
for Healthcare Management Administrators in OR

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Webcasts and Conferences

2011 New England Fiduciary Summit
in Massachusetts on June 9, 2011 presented by Xponential Growth Solutions

2011 Second Quarter Update
Nationwide on May 17, 2011 presented by McKay Hochman Co., Inc.

2011 Second Quarter Update
Nationwide on May 18, 2011 presented by McKay Hochman Co., Inc.

2nd Annual 401(k) Fiduciary Fiesta
in Arizona on May 18, 2011 presented by Xponential Growth Solutions

Qualified Default Investment Alternative
Nationwide on May 20, 2011 presented by McKay Hochman Co., Inc.

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Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher

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