BenefitsLink Retirement Plans Newsletter
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Western Benefits Conference 2011 [Advert.]
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.
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[Guidance Overview]
DOL Delays Application of Fiduciary Fee Disclosure Rules
"[The June 2, 2011,] official proposal to delay application of the 408(b)(2) rules and to extend the date by which initial participant disclosures must be provided is welcome news for both plan fiduciaries and service providers, who have generally been operating under the assumption that the regulations would be delayed as EBSA suggested in February."
(Verrill Dana, LLP)
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[Guidance Overview]
Guidance Provided on 'Readily Tradable' Employer Securities (PDF)
"Recently, the IRS issued Notice 2011-19 to provide guidance describing when employer securities are 'readily tradable on an established securities market' or 'readily tradable on an established market' for purposes of the Internal Revenue Code . . . . This guidance affects qualified defined contribution plans that hold employer stock, including [ESOPs]."
(Prudential Retirement)
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[Guidance Overview]
Form 5500 Schedules SB and MB Revised to Reflect PRA 2010 Funding Relief (PDF)
"[DOL released] technical revisions to the Form 5500 Schedule MB (Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information) and the Schedule SB (Single-Employer Defined Benefit Plan Actuarial Information). 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 ('PRA 2010')."
(Prudential Retirement)
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[Guidance Overview]
Supreme Court Rules on ERISA Cases Premised on Erroneous or Misleading Plan Communications
"The CIGNA decision makes it clear that ERISA lawsuits premised on erroneous or misleading plan communications are not going away. Accordingly, the best course of action for plan sponsors is to try their best to avoid them. This can be achieved by paying close attention to participant communications and avoiding the types of erroneous and misleading statements that got CIGNA into trouble."
(Nixon Peabody LLP)
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How to Protect Your 401(k) If You Leave Your Job
"Generally, you can leave the money with your ex-employer, move it to your new employer's plan (if that company allows it), roll it to an individual retirement account or cash out. Each choice comes with potentially negative consequences for your savings."
(MarketWatch, Inc.)
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What Determines Annuity Demand at Retirement?
"In most advanced countries, future retirees will have to rely less on social security schemes and more on private pension plans, which mostly leave to the worker the choice between [cashing-in] or annuitizing pension wealth at retirement."
(Social Science Research Network)
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Three Tips for Jump-Starting Retirement Savings
"With these three simple tips -- starting early, saving consistently, and keeping it simple -- you'll be well on your way to achieving your retirement savings goals."
(The Vanguard Group, Inc.)
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Can You Save Too Much for Retirement?
"According to some financial analysts, the answer is yes. But before you take that as a license to stop saving, you should look at both sides of the story. Then decide how best to allocate your income among your normal living expenses and investments."
(U.S. News & World Report)
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[Opinion]
ASPPA Comments on Revision of Due Date for Filing 2009 and 2010 Form 8955-SSA
"ASPPA appreciates the ongoing guidance provided by the Internal [IRS] regarding the new Form 8955-SSA and the revised Form 5558. However, . . . it is impossible for filers to submit the large number of filings that are due within the currently provided time frame without the official forms, instructions, and ability to file the Form 8955-SSA electronically through the Filing Information Returns Electronically (FIRE) system."
(American Society of Pension Professionals & Actuaries)
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Benefits in General; Executive Compensation
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[Guidance Overview]
Checklist for Evaluating the Need for a New or Amended Stock Award Plan (PDF)
"For many employers, the need comes in the form of more shares, or broader flexibility in the types of available awards. There are many more subtle improvements that employers should consider with respect to their stock award programs, especially in view of escalating governance expectations across the globe."
(The Bureau of National Affairs, Inc. via Paul, Hastings, Janofsky & Walker LLP)
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Press Releases
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Employee Benefits Jobs
Part Time On Call Participant Counselor
for Diversified in CA, DC, IL, NJ, NV, OH, WI
Senior Pension Consultant
for Means & Associates, LLC in CA
Senior Vice President, Operations
for DailyAccess Corporation in AL
Account Manager II/III - IRC27546
for Lincoln Financial Group in IL, IN
Regional Sales Director
for DailyAccess Corporation in DC, DE, MD, NJ, PA
Sr Actuarial Associate, Defined Benefit Pension Valuation
for Prudential in CT
Associate Manager, Actuarial Defined Benefit Pension Valuation
for Prudential in CT
Financial Operations Manager
for Keenan & Associates in CA
Account Service Representative
for Pension Specialists, Inc. in CA
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Jeanette Hull, News Editor
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