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June 3, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

[Official Guidance]
Text of DOL's Tibble Amicus Brief, in Support of Plaintiffs-Appellants on Whether Plan Fiduciaries Acted Imprudently
"Accordingly, this Court should (i) affirm the district court's holding that defendants acted imprudently by including in the Plan retail mutual funds that were available at much lower, institutional fees; . . . (iii) affirm the district court's conclusion that ERISA section 404(c) is inapplicable . . . ." (U.S. Department of Labor)


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]
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)

[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)

[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)

[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)

[Guidance Overview]
Participants May Consider Surrender Charges When Determining Taxable Value of Life Insurance Policies Distributed from Nonqualified Plan
"The distributions stemmed from an ill-fated effort to create a multiple employer welfare benefit trust designed to conform with Code Sec. 419A(f)(6)." (Wolters Kluwer Law & Business)

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.)

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)

Podcast: Women and What They Need to Know About Saving for Retirement
"Women need to save early and often: They average longer lives in retirement and at some point will likely manage their own finances." (The Vanguard Group, Inc.)

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.)

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)

[Opinion]
American Academy of Actuaries Comments and Recommendations for Future Guidance on Merger and Spinoff Issues Under PPA (PDF)
"The Academy's Pension Committee submitted a letter to the [IRS] and [Treasury] with comments and recommendations for future guidance on merger and spinoff issues related to the measurement of assets and liabilities for pension funding purposes and funding ratios." (American Academy of Actuaries)

[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)

[Opinion]
How 401(k) Plan Sponsors Can Help Employees Create Retirement Income
"The best way 401(k) plan sponsors can offer total return options is usually through the Investment Policy Statement and all associated participant reporting mechanisms." (BenefitsPro)

Benefits in General; Executive Compensation

[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)

Projected Financial Conditions of Social Security and Medicare Worsen
"The recently released annual reports for 2011 from the trustees on the financial states of Social Security and Medicare show the 'great recession' continues to take a toll on both programs." (Towers Watson)

Telecommuting: Attract and Retain Employees, Save Money, and, Account for Any Hidden Costs
"'Think carefully about whether telecommuting actually fits with the strategy of your business and its operational needs,' advises Wayne F. Cascio, professor of management at the University of Colorado Denver. Without that strategic fit, 'It may cost you a lot more, in the long run, in terms of lost business opportunities.'" (SHRM)

Press Releases


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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Webcasts and Conferences

Learn How Changes to the FMLA May Affect Your Organization’s Administrative Procedures
Nationwide on June 21, 2011 presented by FutureOffice Network


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David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager
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