|
|
[Guidance Overview]
Changes in Qualified Pension Plans for Puerto Rico Employees (PDF)
"Plans that fail to properly take into account these three provisions may inadvertently cause taxation to Puerto Rico employees, raise tax-qualification concerns, and in the United States, where there is an increased audit focus on international benefits, one should tread carefully through these waters."
(Groom Law Group)
|
|
|
|
Outside Review of Ohio's Public Pension Plans' Fixes Is Closer
"The request for proposals calls for a review of the 'reasonableness and accuracy' of funding plans proposed by the retirement systems. It asks bidders to recommend improvements in those plans, which would raise retirement ages, reduce cost-of-living adjustments and make other cost-saving moves."
(The Columbus Dispatch)
|
Accounting for Pension Buy-In Arrangements
"The first pension 'buy-in' contract was recently purchased by a U.S. pension plan. This buy-in arrangement is similar to a traditional non-participating annuity (a 'buy-out'), where a plan transfers future responsibility for promised employee retirement benefits to an insurance company."
(PricewaterhouseCoopers LLP)
|
Five Things You Need to Know about QDIAs
"Panelists at the PLANSPONSOR National Conference said that according to the Department of Labor, sponsors still have to do their due diligence in the selection and monitoring of QDIAs. Sponsors need to understand what they're buying, how it works, and how much it costs."
(PLANSPONSOR.COM)
|
|
|
Plan Terminations: Strategic Planning for 2012 and Beyond (PDF)
"This article discusses best-practice strategies associated with the defined benefit plan termination process and how best to establish the necessary fiduciary record to support the evaluation and purchase of irrevocable commitments for the existing plan obligations."
(Thomson Reuters/West via Aon Hewitt )
|
Study Finds Common Traits of Solid Public Pension Plans
"The most important trait that allowed some public pension plans to weather the financial crisis better than others was full employer contributions made consistently over time . . . ."
(Pensions & Investments; free registration required)
|
|
DOL's Borzi Fights Critics of Proposed Fiduciary Rule
"At the Insured Retirement Institute's . . . regulatory conference in Washington, Borzi . . . provided clarity on three areas that she said have drawn significant criticism under the proposed regulation: IRAs, broker commissions and EBSA's collaboration with other agencies, like the Securities and Exchange Commission . . . ."
(AdvisorOne)
|
|
Rosy Wage Projection Now, Wilted Retirement Later
"Statistics are showing that 28 percent of people with 401(k) accounts have taken out loans against them, and salaries are peaking for workers in their 40s. Experts warn that many will face retirement woes due to overly optimistic projections of wages. Guest host Tony Cox speaks with money coach Louis Barajas about properly planning for retirement."
(NPR)
|
Philadelphia Orchestra Challenged on Funding Pension
"In connection with its April 16 bankrup.tcy petition, the Philadelphia Orchestra Association has claimed that its $120 mil.lion endowment cannot be used to satisfy the estimated $23 mil.lion cost of withdrawing from the current musicians' pension plan."
(PLANSPONSOR.COM)
|
Middle Market Retirement Plan Sponsors Looking for More Plan Features
"The study report . . . says that in an effort to appeal to employees, these sponsors moved to plans with additional features such as more frequent on-site visits by provider representatives (49%), automatic deferral increases (48%), the services of a fiduciary investment adviser (48%), an open architecture platform with multiple fund families (47%), and personalized rates of return on statements (44%)."
(PLANSPONSOR.COM)
|
Submit Your Ideas on Labor Department Regulations
"On May 26, 2011 the Labor Department published its Preliminary Plan for Retrospective Analysis of Existing Rules. [DOL invites] you to participate in the discussion concerning the Department's plan . . . . In providing input on the Preliminary Plan, the Department requests that submitters please provide as much detail as possible and provide empirical evidence and data to support your response whenever possible."
(U.S. Department of Labor)
|
|
|
[Opinion]
Key to Pension Costs Is Realistic Assumptions
"Some corporations . . . used unrealistically high assumptions to keep pension costs artificially low in the short term but at great cost down the road. As a result, company pension costs rose sharply even though their pension funds earned money."
(The Sacramento Bee)
|
[Opinion]
Defending Public Pensions
"Public plans are not relying only on investment returns to mitigate the shortfall. In 2010, more than 20 states made changes to their pension plans to bring down future costs. Over time, these revisions, combined with employee and employer contributions and investment returns, will restore stronger funding for most pension plans."
(ABC News Internet Ventures)
|
[Opinion]
DOL Looks to Increase Fiduciary Standards without Following Procedure Standards
"The proposed rule change expands fiduciary duties by removing the language of primary and regular, leaving anyone who gives investment advice liable for losses to the plan. Besides the increased costs to the financial industry to comply with the rule change and loss of service to small and medium investors, DOL has not performed its duties as a department to justify the rule change."
(OpenMarket.org)
|
Benefits in General; Executive Compensation
|
[Guidance Overview]
IRS's Proposed New Regulations on Sec. 162(m) Performance-Based Compensation Exception
"[T]he proposed regulation would clarify that the transitional relief provided under §1.162-27(f)(1) applies to any compensation received pursuant the exercise of a stock option, SAR, or restricted stock award granted under a properly disclosed plan during the transition period."
(Michael S. Melbinger via Winston & Strawn LLP)
|
|
Social Security and Medicare Taxes and Benefits Over a Lifetime
"How much will you pay in Social Security and Medicare taxes over your lifetime? And how much can you expect to get back in benefits? It depends on whether you're married, when you retire, and how much you've earned over a lifetime."
(Urban Institute)
|
Press Releases
|