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August 23, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Benefits Manager (Job ID 25553)
for The Dannon Company in NY

Senior Consultant - Benefits Health & Welfare
for Buck Consultants in CA

SunGard OmniPlus / Cobol Technical Analyst
for The Alliance Group in ANY STATE, NJ

Chief Executive Officer
for United Benefit Advisors in IN

Relationship Manager
for Prudential in IA

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[Guidance Overview]
SEP Contributions Attributable to Earnings As Common Law Employee of Foreign Government Were Nondeductible Excess Contributions
"In addition to disallowing the individual's deduction for the excess SEP contribution, the court agreed that the individual must pay the appropriate excise tax." (Wolters Kluwer Law & Business / CCH)


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[Guidance Overview]
Multiemployer Pension Disclosures
"The final standard is expected to require compliance for public entities for annual periods ending after December 15, 2011, with nonpublic entity compliance deferred one year later. With much of the information for 2011 likely already available, public companies should begin efforts to collect the necessary information now." (Milliman, Inc.)

$1 Mil.lion May Not Be Enough for Retirement
"To be clear, here's what we mean by $1 mil.lion: We're including what you have in any savings and retirement accounts, including tax-deferred plans like 401(k) and IRAs. You'll still have to pay taxes when you withdraw money from those. We're also including the present value of any pension accounts and Social Security payouts." (msnbc.com)

Evolution of Plan Investment Structures and Advisory Services (PDF)
"Today, the focus seems to be on moving toward more simplistic retirement plan structures. While we are not likely to return to the days of monthly valuation and three menu choices, the decision making and savings ease afforded by the structures of old are not lost on plan sponsors." (NAGDCA)

The 403(b) Market
"The . . . chart illustrates the distribution of investments in the 403(b) market as of December 31st of each year." (bWise Guys, LLC)

Fiduciary Considerations for Insured Retirement Income Products: Focus on Guaranteed Withdrawal Benefits (PDF)
"The new GMWB products consist of an investment option—typically, a balanced fund (e.g., a lifestyle fund) or a target date fund—together with a guaranteed minimum withdrawal benefit. A GMWB guarantees a specified level of benefits for life if a covered participant exhausts his retirement savings." (Institutional Retirement Income Council)

Evaluation Scorecard for Retirement Income Products (PDF)
"The purpose of this paper is to propose a set of metrics that plan sponsors and their consultants can utilize in assessing the suitability of a retirement income strategy as an investment option within a participant directed retirement plan." (Institutional Retirement Income Council)

Retirement Plans Don't Have to Give You a Cash Investment Option
"[ERISA] requires retirement plan 'sponsors,' as employers are known in benefits lingo, to act with 'prudence and solely in the best interest of plan participants' in the selection and monitoring of investment options, a Labor Department spokesman said in an e-mail. But, the law doesn't mandate that any specific types of investment options be used." (The New York Times; free registration required)

The Industry with the Most Steadfast Retirement Savers
"Larger numbers of employees of small utility companies tend to save more in their 401(k) plans than workers in many other industries . . . ." (The New York Times; free registration required)

7th Circuit Upholds Employer's Right to Revoke Pension Plan Termination and Cancel Payments
"Rejecting participants' claims for immediate in-service annuities, the court interpreted plan language to mean these options would be available only if the plan completed the termination process." (Mercer LLC)

CalPERS Boosts Cost of Terminating Pension Plans
"After a plan terminates, there is no way to get more money from the employer. The worry is that ending just one big plan could 'dramatically' erode a pool currently responsible for the pensions of 4,700 members of 118 terminated plans." (Calpensions)

Paying for Your Kids' College vs. Your Own Retirement
"'Because of the loss of home equity and the tighter credit market, families are eyeing their retirement funds for other uses,' . . . . But that, say financial planners, is not a good move because: There are a number of ways to fund a college education, such as loans, scholarships and financial aid. Saving for retirement should be a bigger priority." (USA TODAY)

Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions (PDF)
"This paper presents new empirical evidence on the effects of retirement benefits on labor force participation decisions." (Dayanand S. Manoli and Andrea Weber. via National Bureau of Economic Research)

Having Enough Money for Retirement is a Top Financial Goal, According to Survey
"According to the survey results, 47% of U.S. adults ages 18 and older say having enough money for retirement is their top financial priority, compared to just 17% who feel homeownership is their top financial goal." (PLANSPONSOR.COM)

The Question of Defined Contribution Retirement Plan Portability
"The irony for some employers is that even if a career-average structure is adopted for portability's sake, the benefit often could have been delivered much less expensively in a defined benefit (DB) pension plan than via a DC plan." (Milliman, Inc.)

Benefits in General; Executive Compensation

[Guidance Overview]
New York State Tax Guidance on Same-S.ex Marriage (PDF)
"It is also important for an employer to understand whether its insured health plan is required to recognize a same-s.ex marriage. An insured health plan is only subject to the New York requirement to recognize a same-s.ex marriage if the insurance policy is subject to New York law. If the insurance policy is governed by another state law, that state's law will govern whether the same-s.ex marriage must be recognized." (Patterson BelknapWebb & Tyler LLP)

[Guidance Overview]
Relief Granted for Disabled Auto Workers Denied Severance Benefits
"NUMMI employees who meet the following criteria may be eligible to participate in a claims process over the coming months: disabled under state and federal laws, on leave from work due to their own disability at any time between October 1, 2009 and April 1, 2010, and denied all or any part of the NUMMI severance pay." (U.S. Equal Employment Opportunity Commission)

The Principal 2011 Ten Best Companies for Employee Financial Security
"'These winning companies are taking a comprehensive approach to workplace benefits in order to reduce financial and physical stress of employees at all levels and demographics,' said Dallas Salisbury, Principal 10 Best judge and president and CEO, Employee Benefit Research Institute." (PLANSPONSOR.COM)

Observers Leery of Postal Service Plan to Opt Out of Federal Health and Retirement Programs
"According to draft documents summarizing the changes, government-run benefit programs do not address the Postal Service's 'unique demographic and program needs,' nor do they allow the agency to control costs and provide compensation and benefits comparable to the private sector." (Government Executive)

Press Releases



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