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New Retirement Plan Disclosure Obligations on Service Providers, Plan Sponsors and Plan Administrators (PDF)
"This bulletin provides an outline of the requirements of the new regulations and steps recommended to assure compliance." (Thompson Hine LLP)

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GASB Proposes Shorter Recognition Periods and Reporting on Financial Statements
"The GASB proposals would require that governments recognize their pension liabilities on the face of their financial statements rather than disclosing them in the notes, as is done currently. According to the GASB, 'recognition in the financial statements, alongside other liabilities such as outstanding bonds, claims and judgments, and long-term leases, will clearly put the pension liability on an equal footing with other long-term obligations.'" (Wolters Kluwer Law & Business)

Pension Benefits Denial Claim Time-Barred Under Applicable New Jersey Limitation Period
"A pension fund required a participant to have at least 15 years of 'combined pension credits' to qualify for certain benefits. In 1999, the fund denied the participant's benefits application because he had attained only ten years of credits before experiencing a break in service." (Wolters Kluwer Law & Business)

Maryland Court of Appeals Holds Actuaries Liable
"The Court of Appeals of Maryland has held the former actuary firm of the state's retirement system is liable for damages of $73 mil.lion. . . . The appellate court held that Milliman, Inc., the Maryland system's actuary from 1982 until 2006, was liable for failing to include in its calculations benefits payable to the surviving spouses of participants . . . ." (PLANSPONSOR.COM)

Critics Claim DOL Using Amicus Briefs to Avoid Pension Roadblocks
"The DOL's website identifies 'significant' friend-of-the-court briefs the agency filed in federal courts, including those involving breach-of-fiduciary duty cases such as allegations of excessive fees or poor investment management in stock-drop cases. Last year, 19 such briefs were filed; 18 were filed in 2009." (Pensions & Investments; free registration required)

Connecticut State Pension Payments Exceed IRS Limits by Tens of Thousands
"Over the past decade or so, the state has apparently paid a small group of elite pension recipients hundreds of thousands of dollars more than the federal Internal Revenue Service allows under its rules for public employee pension plans." (courant.com)

Longevity, Life-Cycle Behavior and Pension Reform
"How can public pension systems be reformed to ensure fiscal stability in the face of increasing life expectancy? To address this pressing open question in public finance, we estimate a life-cycle model in which the optimal employment, retirement and consumption decisions of forward-looking individuals depend, inter alia, on life expectancy and the design of the public pension system." (Social Science Research Network)

Is Nebraska's Cash Balance Pension a Model?
"In Nebraska's case, the state chips in $1.56 for every dollar workers contribute to their accounts. The state promises that each account will earn at least 5 percent a year, which is called the interest credit rate. When investment returns are strong, and the plan meets minimum funding requirements, the state retirement board may pay an annual dividend to the employees in the plan—although the dividend and interest credit rate cannot exceed 8 percent." (The Pew Charitable Trusts)

Head of Rhode Island's Pension Fund Aims to Win Workers' Support with Softer Approach on Pension Problems
"Instead of breaking ranks with labor allies to win a round of pension cuts now, as elected officials in New Jersey did recently, Ms. Raimondo has been trying for months to persuade workers, unions and taxpayers to support a top-to-bottom overhaul of Rhode Island's pension system that she says will fix the plan for decades to come.' (The Wall Street Journal)

Social Security Payments Would Fall with New Inflation Gauge
"The annual cost of living adjustments that Social Security implements based on inflation would change. Economists estimate that the chained CPI would likely rise by about 0.3 percentage points less a year than the current CPI." (USA TODAY)

Average Amount Put Away for Retirement Declines
"After hitting a two-year high of 101 in December 2010, the [First Command Financial Behaviors] Index has been declining over the first half of 2011—with a substantial drop from 90 in April to 86 in May. This four-point drop was the product of a substantial decline in the behaviors sub-index, which was driven largely by a decrease of nearly $350 in the average amount Americans put into retirement accounts (from $940 in April to $598 in May)." (PLANSPONSOR.COM)

New Jersey Judge Files Lawsuit over Public Sector Benefit Changes
"According to the Star-Ledger, the complaint says the law runs counter to the part of the state constitution that says the salaries of the Supreme Court justices and Superior Court judges 'shall not be diminished during their term of appointment.'" (PLANSPONSOR.COM)

The Legislative History of Church Pension Plans
"The 1974 private pension reform law, ERISA, provided a permanent exemption from the law for pension, health and other benefit plans sponsored and maintained by a church for its employees. This permanent exemption did not apply to plans for employees of church schools, hospitals and other church-related entities." (Pension Rights Center)

Doubling Up on Retirement Security
"From the perspective of retirees, new products offer the ability to protect assets and hedge against various types of risk, but there are tradeoffs inherent in all of them. Ultimately, the necessary starting strategy for consumers is to start saving early and continue prodigiously. Out-of-plan products can then address specific retirement risks." (Milliman, Inc.)

Survey Shows Employees' Hold Job Security, Benefits and Challenges Paramount
"[82%] of surveyed employed and unemployed workers felt that being offered financial protection benefits showed their employers cared about their well-being, which was rated over a high base salary or a results-based bonus program." (Employee Benefit News; free registration required)

Connecticut Adds Gender Identity to Anti-Discrimination Law
"SHRM reports that in the new law . . . 'gender identity or expression' is defined as 'gender-related identity, appearance or behavior, whether or not that gender-related identity, appearance or behavior is different from that traditionally associated with the person's physiology or assigned se.x at birth.'" (PLANSPONSOR.COM)

Employers Find Increase in Wellness Incentive "Most Beneficial" Element of Health Reform Law, Lockton Survey Shows
(Lockton)

MedVantx Launches Break Through Pharmacy Automation Platform for Worksite Health Clinic Marketplace
(MedVantx, Inc.)

National Union of Healthcare Workers: Federal Labor Board Orders New Kaiser Election After Finding SEIU Guilty of "Coercive" Conduct that "Interfered with Employees' Freedom of Choice"
(National Union of Healthcare Workers)

Self Insured Plans Upgrades Website
(Self Insured Plans, LLC)

West Virginia Launches New Online Contribution Reporting System for Employers
(State of West Virginia)

IPA Launches Unique Billing and Reconciliation Software for Health Care Plan Sponsors
(Innovative Process Administration, LLC)