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May 12, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

[Guidance Overview]
Form 5500 Schedules SB and MB Revised to Reflect PRA 2010 Funding Relief (PDF)
"These revisions reflect funding relief alternatives available to single-employer and multiemployer defined benefit plans under the Preservation of Access to Care for Medicare and Pension Relief Act of 2010 . . . ." (Prudential Retirement)


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[Guidance Overview]
NAGDCA Brochure on New Roth Contributions Feature for Governmental 457(b) Plans (PDF)
"Because [the law creating this feature] is a newly enacted law, additional rules and guidelines may be issued that may affect the content of this article." (National Association of Government Defined Contribution Administrators, Inc.)

Video: Preview of the Social Security Trust Fund Annual Report
"In this video Eric Toder, codirector of the Tax Policy Center, explains what the Social Security trust fund was designed to do, how it's actually used, and what observers will be looking for in the trustees' report." (Urban Institute)

Immigrant Diversity and Social Security: Recent Patterns and Future Prospects
"Our findings stress heterogeneity in labor force and Social Security experiences among immigrants." (Center for Retirement Research at Boston College)

The Potential Impact of the Great Recession on Future Retirement Incomes
"The results show that the recession will reduce average annual incomes at age 70 by 4.3 percent, or $2,300 per person." (Center for Retirement Research at Boston College)

Proposed Fiduciary Regs Criticized by GOP, but Defended by Borzi
"In the letter, sent on April 14, 2011, to the heads of the Treasury Department, IRS, and Labor Department, top Republican lawmakers in the House and Senate characterized the proposed rules as 'unworkable' because they create 'too many unanswered questions as to who is and who is not a fiduciary.'" (Wolters Kluwer Law & Business)

Consumer Federation of America Asks for Proof of Fiduciary Standard Costs
"Broker groups have long argued that imposing a uniform standard would increase brokers' compliance costs and exposure to lawsuits and increase the amounts consumers must pay for help with investments." (BenefitsPro)

Pension Benefits Have Grown Faster in Public Sector than Private
"The pension benefits paid out to retirees by state and local governments have more than doubled from 11.1 percent of payroll in 1990 to 23.8 percent of payroll in 2009. By contrast, pension payouts in private industry grew only from 6.1 percent of payroll in 1990 to 9.8 percent in 2009." (National Center for Policy Analysis)

GM Retirees Sue for Lost Pension Benefits
"The retirees, including former vice presidents and other high-ranking managers, are trying to recover benefits plus interest, and increase their future payouts. GM says the executives' claims already were reviewed and properly rejected by the pension plan administrator." (The Detroit News)

60% of U.S. Corporate DB Plans Closed to New Hires
"A new gauge from SEI that will provide updated statistics on the state of plan design for U.S. corporate defined benefit plans finds more than 60% are closed to new hires." (PLANSPONSOR.COM)

Most Affluent Plan Participants Not Completely Satisfied with Current Employer-Sponsored Retirement Plan Provider
"Satisfaction levels are lowest among Gen X investors (40% on average), with Baby Boomers being only slightly more satisfied (48%), according to a press release." (PLANSPONSOR.COM)

PBGC Premium Increases Could Receive Attention in Budget and Deficit Reduction Discussions
"President Obama's budget proposal for fiscal 2012 and other deficit reduction proposals would increase PBGC premiums for some DB plan sponsors, and the House Budget Committee is considering the idea." (Towers Watson)

[Opinion]
American Benefits Council Letter to SEC Regarding Clearing Agency Standards for Operation and Governance (PDF)
"Pension plans use swaps regulated by the Commodity Futures Trading Commission . . . and security-based swaps . . . to manage risk and to reduce the volatility of the plan funding obligations imposed on the companies maintaining the plans. If Swaps are materially less workable or available, funding volatility could increase. This would in turn undermine the retirement security of the millions of Americans who rely on their pensions for such security." (American Benefits Council)

[Opinion]
Why 401(k) Plan Won't Solve San Francisco's Pension Woes
"401(k) plans are not allowed for municipal employees. For 25 years, federal tax laws have prohibited public employers from starting new 401(k) accounts. Public employees must receive defined contribution benefits through what are called 401(a) plans, which require constant annual contributions by employers and workers." (San Francisco Chronicle)

[Opinion]
GAO Should Redo Its Recent Retirement Plan Study
"Unfortunately, the study relied heavily on the Federal Reserve System's 2007 Survey of Consumer Finances (SCF) to identify characteristics of individuals participating in DC plans. The GAO could have and should have used data from federal income tax filings which is far more accurate." (Profit Sharing / 401k Council of America)

Benefits in General; Executive Compensation

Web Site Helps Locate Employee Benefits Law Experts
"The American College of Employee Benefits Counsel (the College) has launched a new Website feature to help locate leading employee benefits practitioners, including those available to act as mediators or expert witnesses in legal disputes. The feature, 'About the Fellows' . . . was developed and is sponsored by the College." (PLANSPONSOR.COM)

Top Companies for Work-Life Balance, According to Glassdoor Announcement
"The announcement said Nestle Purina Petcare received the highest rating (4.6 on a 5-point scale) from its employees over the past year in regard to work-life balance." (PLANSPONSOR.COM)

Press Releases


Employee Benefits Jobs

Onsite Participant Counselor
for Diversified in VA

Pension Consultants/Administrators
for Northern NJ Mid-Size Pension Consulting Firm in NJ

Testing Consultant
for Diversified in MA

Compliance Testing and Reporting Specialist
for Prudential in IA

Post Your Job on EmployeeBenefitsJobs.com

View All Jobs

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Webcasts and Conferences

401(k) Rekon Advisor Symposium - Cincinnati
in Ohio on June 9, 2011 presented by 401(k) Rekon

HIPAA Security for Employer Plans and Business Associates: A Framework for Compliance
Nationwide on June 9, 2011 presented by EBIA / Thomson Reuters


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