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June 2, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

[Guidance Overview]
Supreme Court: Establishing Procedures for Compliance with ERISA's Disclosure and Other Requirements?
"[We now] have a second ruling from the Supreme Court in CIGNA v. Amara, granting Amara certioria and remanding. This is a procedural twist that is more interesting to lawyers than employers, but it underscores the point we made about uncertainty in this area . . . . [The ruling is at http://www.supremecourt.gov/orders/courtorders/052311zor.pdf.] (Porter Wright Morris & Arthur LLP)


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Selecting a QDIA Is a Fiduciary Decision
"Of the three choices for options, 1) age-based (target date funds - TDFs), 2) risk-based (balanced funds), and 3) managed accounts, TDFs are the most popular to date by far; but they remain a work-in-progress." (fi360 Blog)

Mercer Provides Administrative Checklist for Sponsors of Defined Benefit Plans
"'Additionally, if a plan sponsor is moving to a new plan administrator or preparing a plan for a freeze or termination, engaging in these 'pre-sourcing' activities will allow them to move quickly as business or market conditions change in order to capitalize on the opportunities to save on plan costs and/or reduce plan risks.'" (Wolters Kluwer Law & Business)

Multiple Employer Plans: An Opportunity for Expanding Retirement Plan Coverage (PDF)
"This paper provides an analysis and specific recommendations for the enhancement of defined contribution MEPs to facilitate their usage by employers who do not sponsor a retirement savings plan for their workers." (Transamerica Retirement Services)

Senate Bill Targets 401(k) Plan 'Leakage'
"[The Senate bill with bi-partisan support was introduced May 18] to minimize the leakage from 401(k) plans occurring as a result of plan loans and hardship withdrawals." (Deloitte via BenefitsLink.com)


What's Next in Employment Agreements: Free Webinar [Advert.]

Sponsored by Sutherland Asbill & Brennan LLP

Wednesday, June 8, 1-2 pm ET: It pays to be prepared when it comes to executive employment agreements. Join Sutherland attorneys to discuss emerging issues, including clawbacks and evergreen agreements. Register now.   [Attorney Advertising]


Almost 9,000 CalPERS Retirees Receive at Least $100,000 in Annual Benefits, More Than Quadruple the Number in 2005
"The rapid growth in the number of $100,000 pensions is largely a consequence of enhanced retirement benefits approved by local and state governments during the last decade. Tens of thousands of public safety workers, for instance, can retire at age 50 and get most of their annual salary for life." (The Sacramento Bee)

Hundreds of Florida Public Employees Rush to Beat Retirement Program Changes
"Employees who enter the DROP, or Deferred Option Retirement System, by the end of June will continue collecting 6.5 percent interest on all retirement funds instead of being forced to accept the 1.3 percent rate recently approved by legislators and Gov. Rick Scott." (St. Petersburg Times)

The Power of Retirement Planning: Global Report (PDF)
"The power of planning is this year's central message. In recognising the combined benefits of having a financial plan and seeking professional financial advice, it adds a critical element to the Future of Retirement series, moving beyond identifying the issues and challenges and looking to provide points of action towards a better retirement." (HSBC)

The Retirement Landscape Presents a Tangle of Risks, Uncertainties, and Challenges
"One of the biggest problems occurs when retirement plans designed around higher interest rates enter a low-rate environment. For example, many DB plans -- even ones that seemed conservatively valued just a few years ago -- face higher-than-planned-for liabilities due to low interest rates, in turn increasing contribution requirements and P&L expenses." (Milliman, Inc.)

[Opinion]
Plan Leakage Can Be Less of an Issue Than Participation
"[W]hile leakage can be vexing, the percentage of participants in Vanguard-recordkept plans who took a distribution in 2010 stood at just 3.7%, and the dollar amount overall was less than 1%." (The Vanguard Group, Inc.)

Social Security Reform and Ma.le Labor Force Participation Around the World
"In this paper we analyze the effect of Social Security regime changes on labor force participation of 50-80-year-old men across and within 13 countries . . . ." (Center for Retirement Research at Boston College)

[Opinion]
The Unique Tax Benefits of Roth IRAs
"Best of all, Roth IRAs can be invested in literally anything you want: index funds, lifecycle funds (which I recommend for most people), individual stocks, or even alternative investments. This is a major benefit over a 401(k), which restricts you to a strict set of investment options chosen by your employer." (Retirement Online LLC)

[Opinion]
Are the Elderly ' Better Off Than Advertised' ?
"In 'The elderly are better off than advertised' Washington Post columnist Robert J. Samuelson attacks what he calls 'selective and self-serving statistics' that have been cited by defenders of Social Security and Medicare." (Pension Rights Center)

[Opinion]
Do 401(k) Retirement Plan Contribution Limits Make Sense?
"So why does the government place . . . limits on retirement plans? The short answer: so that the 401(k) plan doesn't discriminate against (or favor) certain employees participating in the plan on the basis of contributions. Another factor may be tax revenue, as employees defer their salaries pre-tax, which means they are not paying income tax on the deferrals -- a revenue loss for the government." (Milliman, Inc.)

Benefits in General; Executive Compensation

[Guidance Overview]
Guidance Issued on Financial Institutions Incentive-Based Compensation Arrangements
"These rules, if enacted, would prohibit 'covered financial institutions' with total consolidated assets of $1 bil.lion or more ('Covered Entities') from providing incentive-based compensation arrangements which encourage inappropriate risk by providing excessive compensation or which could lead to material financial loss of the Covered Entity." (SNR Denton)

Employers Often Fail to Estimate Costs of Absences
"The survey of 331 human resources and benefits executives and managers of companies with over 500 employees by Liberty Mutual found an organizational disconnect between collecting absence data to satisfy state and federal regulations and using that data to understand costs and savings to function more effectively." (Employee Benefit News; free registration required)

Recent Compensation Compliance-Related Developments Affecting Reward Programs
"Employers should be mindful of recent legal developments that could affect their compensation and other reward programs. These developments include: A court ruling that payments for unused sick days are part of an employee's regular pay rate for purposes of calculating overtime pay . . . ." (Towers Watson)

Employee Ownership Update for June 1, 2011
In his latest column, NCEO Executive Director Loren Rodgers discusses a Treasury official's doubts about ESOP floor price protection, research on the behavioral impact of stock options, and more. (National Center for Employee Ownership)

Press Releases


Employee Benefits Jobs

Attorney - Health Benefits
for Alston & Bird LLP in DC, GA, NY

Compliance Specialist
for Ascensus in PA

Director & Consulting Actuary - Retirement Plan Strategy
for Prudential in CT, IL

Vice President & Actuary - Retirement Plan Strategy
for Prudential in CT, IL

Implementation Manager- IRC27665
for Lincoln Financial Group in ANY STATE, IN

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Webcasts and Conferences

Communicating Employee Benefits Seminars (hosted by The Conference Board)
in New York on June 21, 2011 presented by Buck Consultants

Communicating Employee Benefits Seminars - Hosted by The Conference Board
in Illinois on June 28, 2011 presented by Buck Consultants

Executive Forum on Outcomes-Driven Benefit Design
in Illinois on July 11, 2011 presented by World Congress

Healthcare Payments and Policy Conference (HCON2011) -- Addressing The Growing Problem Of Patient Bad Debt
in Washington on June 28, 2011 presented by Buck Consultants


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