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May 27, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Firm Buys Prudential Policy to Hedge Pension Risks
"In what is described as the first arrangement of its kind, a North Carolina-based manufacturing company has used pension plan assets to purchase what is known as a 'portfolio protected buy-in' policy that transfers investment and longevity risk to a Prudential Financial Inc. unit." (Business Insurance)


Western Benefits Conference 2011 [Advert.]

Sponsored by ASPPA and WP&BC

Featuring groundbreaking sessions for plan sponsors, attorneys, consultants, health & welfare professionals, actuaries, investment advisors and TPAs, the WP&BC and ASPPA present the Western Benefits Conference July 24-27 at the Bellagio in Las Vegas.


[Guidance Overview]
Additional Expenses Qualify for Safe Harbor Hardship Withdrawals (PDF)
"The 401(k) regulations provide safe harbor rules for determining if [specific] conditions are satisfied. Two of the safe harbor situations deemed to satisfy the 'immediate and heavy financial need' requirement include deductible medical expenses and deductible costs for repairing a principal residence." (Prudential Retirement)

[Guidance Overview]
Verizon Escapes 'Bil.lion-Dollar Mistake' As Court Spurns Appeal
"The U.S. Supreme Court refused to revive a suit that claimed Verizon Communications Inc. owed as much as $1.7 bil.lion in additional retirement benefits because of an error made by a lawyer in drafting the pension plan." (Providence Business News)

Pre-Retirees Open to Retirement Income Products
"Only 55% of Americans planning to retire in the next seven years are confident in their ability to generate a suitable retirement income, according to a new Cogent Research report. As a result, these investors, consisting mainly of First-Wave Boomers ages 55 to 64, are more open to retirement income products than older investors and current retirees." (PLANSPONSOR.COM)

SPARK Seeking Comments on Lifetime Income Solutions Data Standards
"Larry Goldbrum, General Counsel, said in a press release that SPARK Institute members have, as a result of their implementation work, identified and recommended several improvements to the original version of the Data Layouts for Retirement Income Solutions, which was released in September of 2010 . . . ." (PLANSPONSOR.COM)

Comparing Year-Over-Year 403(b) Plan Statistics
"Comparing the results of the 2010 and 2011 403(b) Plan Surveys from the Profit Sharing/401k Council of America (PSCA) reveals some interesting differences." (PLANSPONSOR.COM)

An Actuarial Perspective on the 2011 Social Security Trustees Report (PDF)
"The Academy's Social Insurance Committee released a new issue brief that highlights the 2011 Social Security Trustees Report and outlines the public policy options to address Social Security's long-term financial soundness." (American Academy of Actuaries)

More U.S. Workers Delay Retirement
"There was essentially no retirement delay among government workers. That is expected, since these workers are more likely to receive defined benefits, making them more insulated from the decline in financial asset values in their pensions." (AccountingToday and SourceMedia, Inc.)

Retirement Savings Incentives and Your Taxes
"[In the current fiscal year, our federal government will not collect $119 bil.lion in income taxes] by allowing employers to sponsor retirement programs and Americans to defer payment of taxes by contributing to IRAs . . . ." (Milliman, Inc.)

Outlook 'Mixed' for Public Pension Funds, According to Study
"State and local governments have been paying less of their annual required contributions to pension plans in recent years due to slumping revenue that threw budgets into disarray. The study pegged the ratio of assets to liabilities for its sample of 126 state and local public pension plans at 77 percent last year, compared with 79 percent in 2009." (Reuters)

[Opinion]
Five Retiree Stumbling Blocks
"Given all of the political and economic volatility we've seen, I don't think there's any such thing as a retirement plan carved in stone. You have to be willing to shift strategies and be able to earn some income later in life." (Morningstar, Inc.)

[Opinion]
The Best Way 401k Plan Sponsors can Offer Total Return Options
"Here's a simple explanation a 401k plan sponsor can use to describe to employees the concept of investing for total return. If a security pays income at a 5% rate for a year and its price goes up 5% for the year, the net return is the sum of the two (5% + 5% =) 10%." (Fiduciary News)

Benefits in General; Executive Compensation

An In-Depth Look Into Intergenerational Flows
"The goal of this paper is to carefully document the characteristics of within-family monetary transfers in the United States, using all nine waves of the Health and Retirement Study (HRS)." (Center for Retirement Research at Boston College)

IRS Grants Tax Relief to Victims of Severe Storms, Tornadoes, Straight-Line Winds, and Flooding in Missouri
"The relief extends until June 30, 2011 deadlines for filing most returns, including Form 5500, and paying taxes otherwise due during the period of April 19, 2011 and June 30, 2011." (Wolters Kluwer Law & Business)

Unpaid Life Insurance and Annuity Benefits' Issues Continue to Intensify
"Attention to unclaimed property issues affecting life insurance companies . . . has significantly escalated in recent weeks, due to regulatory actions, media coverage, and public expressions of interest by the plaintiffs' bar. This Legal Alert discusses those developments and puts them into perspective." (Employee Benefit News; free registration required)

Press Releases


Employee Benefits Jobs

Plan Administrator for Retirement Plan & ERISA Specialists
for Dana Consulting Group, Ltd. in IL

Director - Relationship Manager
for Charles Schwab in AZ

Director - Relationship Manager
for Charles Schwab in TX

Director - Relationship Manager
for Charles Schwab in OH

Sr Manager - Relationship Mgr
for Charles Schwab in OH

Sr Manager - Relationship Mgr
for Charles Schwab in AZ

Sr Manager - Relationship Mgr
for Charles Schwab in TX

Benefits Manager (Job ID 25553)
for The Dannon Company in NY

Senior Manager, Professional Services
for CAPTRUST Financial Advisors in NC

401(k) Recordkeeping Accountant (OmniPlus)
for National Rural Electric Cooperative Association (NRECA) in VA

Retirement Sales Plan Specialist - Internal Wholesaler
for ExpertPlan, Inc. in KS

Manager, Market Research
for Prudential in CT

Enrolled Actuary
for Pension Consulting Firm in CA

Manager of Pension Administration
for Port Authority of Allegheny County in PA

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Webcasts and Conferences

Health Care Reform Update: Internal Appeals, Grandfathered Plans, and More
Nationwide on May 26, 2011 presented by EBIA / Thomson Reuters


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