|
BenefitsLink Retirement Plans Newsletter
|
|
|
[Official Guidance]
IRS Employee Plans News, August 23, 2011, Issue (PDF)
Articles include: Master and Prototype Plan Sponsors; Responsibilities and Tips To Help Your Adopting Employers; Employee Stock Ownership Plan Worksheet, Revised 08/2011; A Tool To Help Design EsOPs; Information on August 25 Phone Forum: How To Correct Plan Errors and 403(b) Issues (EPCRS); Form 8955-SSA FAQs.
(U.S. Internal Revenue Service)
|
DATAIR Government Forms Software [Advert.]
EFAST2-approved 5500s with all schedules and PBGC forms, 1099Rs, 5300 series, FAS 158 (license only the modules you need). Built-in verification and expert live support assures accuracy. PC-based software for economy and maximum security.
|
|
[Guidance Overview]
GASB Proposals to Revamp Governmental Pension Plan Accounting (PDF)
"The proposals are likely to increase the amount of reported liabilities for public plans at a time when the amount of those liabilities is hotly debated and financial pressures on states and local governments have resulted in many proposals to change such plans, some of which have been adopted already. The proposals also introduce employer-level financial reporting of liabilities that may in some cases be difficult to implement."
(Groom Law Group)
|
[Guidance Overview]
PwC Denied Summary Judgment on Whipsaw Calculation Claim
"[F]ormer participants of the firm's Retirement Benefit Accumulation Plan (RBAP) argued their distributions using a whipsaw calculation improperly used the 30-year Treasury rate to project their benefits to age 65 when a set rate between 7% and 9% would have been more accurate."
(PLANSPONSOR.COM)
|
Fiduciary Implications: Using Re-Enrollment to Improve Target Date Fund Adoption (PDF)
"An assumption underlying most 401(k) plans is that participants know how to invest their funds. Based on that assumption, most plan sponsors offer their participants an array of prudently selected mutual funds, provide investment education and conclude that they have fulfilled their responsibilities. Unfortunately, the assumption isn't correct—as either a matter of fact or a matter of law."
(Drinker Biddle & Reath LLP)
|
|
401(k) Loan Can Be Smart Move
"[Those who have taken loans more recently may] have avoided significant stock market losses, while paying themselves what now looks like a handsome, and guaranteed, rate of return."
(Dow Jones & Company, Inc.)
|
|
PBGC's Plan for Regulatory Review (PDF)
"PBGC is implementing Executive Order 13563 by: [1] Reconsidering several regulations PBGC had previously proposed. [2] Beginning to make changes to provide for more extensive public participation in rulemaking by adding public hearings and other means to its process."
(The White House)
|
PBGC Announces Efforts to Streamline Regulations
"As part of the Obama administration's government-wide effort to save U.S. companies billions of dollars, PBGC will review its regulations to: Cut down administrative burdens; Streamline the filing of premiums and information; and Make it easier for small businesses to comply with regulations."
(PLANSPONSOR.COM)
|
Timely PPA Notices Meet Duty to Tell Participants About Pension Cutbacks, Court Rules
"While the decision concerns a multiemployer plan and is not binding on other courts, it is among the first to consider whether a fiduciary has any duty to notify participants ahead of PPA deadlines when imposing mandatory benefit restrictions. The court's rationale may give comfort to both single-employer and multiemployer plan sponsors implementing such restrictions."
(Mercer LLC)
|
|
Taxing Big California Public Pensions, Ending Collective Bargaining, Will Have Costs
"Taxing public pensions in excess of $100,000 a year could bring an extra $60 mil.lion into state coffers—but would likely drive retirees from the Golden State . . . . The [ballot initiative measure] would basically amend the state Constitution to institute a new state tax on pension benefits in excess of $100,000 a year, paid to retirees by the California Public Employees Retirement System and the California State Teachers' Retirement System."
(Orange County Register Communications)
|
|
Press Releases
|
|
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
Phone (407) 644-4146
Fax (407) 644-2151
Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher
Lois Baker, J.D., President
Holly Horton, Business Manager
Copyright © 2011 BenefitsLink.com, Inc. All rights reserved.
All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of that content. You may not alter or remove any trademark, copyright or other notice from copies of the content.
Links to Web sites other than those owned by BenefitsLink.com, Inc. are offered as a service to readers. The editorial staff of BenefitsLink.com, Inc. was not involved in their production and is not responsible for their content.
More useful links:
|
|