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Institutional Investment Group Account Manager II
for PNC in PA

Retirement Plan Consultant
for The Online 401(k) in TX

Paralegal, ERISA
for Diversified in MA

Associate Manager, Small Market Rate Calculation Team
for Prudential in PA

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401(k) Rekon Advisor Symposium- Beachwood
in Ohio on October 13, 2011 presented by 401(k) Rekon

Employer Wellness Programs: Start Small, Achieve Big Results!
in Florida on October 5, 2011 presented by AGIS-FL Agency Inc

Disaster Relief Announcement 11–22 Relating to PBGC Deadlines in Response to Hurricane Irene in New York
"Pension Benefit Guaranty Corporation . . . is waiving certain penalties and extending certain deadlines in response to the Hurricane Irene that occurred beginning on August 26, 2011, in New York." (Pension Benefit Guaranty Corporation)

DATAIR Defined Contribution Plan Software   [Advert.]

Software for proposals, compliance testing, statements and periodic administration for "DC" plans. System handles 401(k), Profit Sharing (including Cross Testing), 403(b), ESOP, and NQ plans. Cost-effective PC-based system for TPAs and consultants.

Disaster Relief Announcement 11–21 Relating to PBGC Deadlines in Response to Hurricane Irene in Puerto Rico
"Pension Benefit Guaranty Corporation . . . is waiving certain penalties and extending certain deadlines in response to the Hurricane Irene that occurred beginning on August 21, 2011, in Puerto Rico." (Pension Benefit Guaranty Corporation)

Terminating 403(b) Arrangements: IRS Guidance Answers Some Questions, Avoids Others (PDF)
"The regulations set forth some general principles governing plan termination and, in response to requests from plan sponsors and practitioners, the Internal Revenue Service issued additional guidance in early 2011. The regulations and guidance, discussed [in this article], address some, but not all, of the issues generated by a termination of a 403(b) arrangement." (Steptoe & Johnson LLP)

Court Rules Law Firm Did Not Violate ERISA Anti-Cutback Rule
"The court concluded the law firm Feder Semo & Bard P.C. did not violate the anti-cutback rule when it terminated the plan and paid former law partner Denise M. Clark a lump-sum distribution that was approximately half of the present value of her straight life annuity. The court said Clark's claim did not involve the type of benefit reduction the anti-cutback rule protects." (PLANSPONSOR.COM)

7th Circuit Upholds Pension Plan Administrator's Interpretation of Disability-Based Offset
"Reconciling conflicting plan terms is a task ERISA entrusts to the plan administrator, the 7th Circuit has ruled, finding an administrator's decision to offset pension benefits by workers' compensation partial disability payments had 'rational support in the plan's terms.'" (Mercer LLC)

457 Answer Book   [Advert.]

457 Answer Book is an in-depth resource that provides answers to the questions that tax-exempt organizations, state and local governments, their accountants, tax and legal advisors, 457 administrators, and investment counselors need to know.

PBGC Decision Addresses Pension Plan Sponsor's Liability for Facility Closing
"A recent PBGC decision focuses on a pension plan sponsor's liability when a facility closing or other restructuring of operations results in termination of more than 20% of employee-participants. The Appeals Board decision under ERISA Section 4062(e) rejects the argument that a sponsor isn't liable for a plan originally established by another employer." (Mercer LLC)

7th Circuit Reiterates Pro-Fiduciary Position in 401(k) Ruling on Retail Fund Fees
"Offering retail funds in a 401(k) plan lineup is not a breach of fiduciary duty, the 7th Circuit has ruled. The court said fiduciaries can't be faulted for letting participants make their own choices among 32 options—including 24 retail funds—with varying risk, return and expense profiles." (Mercer LLC)

Third Circuit Affirms Dismissal of Fiduciary Breach Claims Alleging Excessive Mutual Fund Fees
"It is hard to resist concluding from the court's analysis that increasing the number of investment options tends to reduce selection liability risk. The court's repeated references to the 'mix and range' of options, however, indicate that volume alone may not be enough." (Thomson Reuters/EBIA)

Best Practices for 401(k) Plan Unitized Stock Funds
"These suggestions are based on a recent Seventh Circuit case and are intended to help plan fiduciaries comply with their ERISA prudent investor duties." (McKenna Long & Aldridge LLP)

Top Firms for 401(k) Rollovers by IRA Investors
"A report released Thursday by Spectrem surveyed nearly 1,000 investors who had recently made a rollover or had the opportunity to rollover assets, and found nearly one-third chose Fidelity as their IRA provider. Vanguard was a distant second at 11%." (AdvisorOne)

Investment Firms Pulling Out All Stops Against Financial Adviser Rule Change
"At stake is the [EBSA] proposal to broaden the definition of 'fiduciary' status to more financial advisers, potentially including people who oversee investment retirement accounts (IRAs). The rule could change the way many financial brokers and advisers are compensated." (Capitol Hill Publishing Corp.)

Retirement Proposal to Swap Tax Breaks for Flat Tax Credit Could Endanger 401(k)s
"Americans would lose their variable tax breaks on retirement contributions in exchange for a flat tax credit to be deposited automatically into the saver's account under a proposal by The Brookings Institution discussed before the Senate Special Committee on Aging Friday." (Pensions & Investments; free registration required)

401(k) Tax Break at Risk As Policymakers Mull Retirement Shift
"Among the ideas being floated are a replacement of the 401(k) deduction with a tax credit that would offer bigger benefits to lower earners, changes in the withdrawal choices that workers face when they retire and a shift in the way Social Security benefits are calculated." (Reuters)

Diversity and Defined Contribution Plans: The Role of Automatic Plan Features
"Automatic enrollment reduces differences in savings and investment behavior associated with race and ethnicity, according to Vanguard research. Based on a sample of seven large defined contribution plans with more than 250,000 participants, the study found that participation rates rise across the board with automatic enrollment. The research also showed that automatic enrollment into a default target-date fund equalizes risk-taking and reduces extreme portfolio allocations for all groups." (The Vanguard Group, Inc.)

Starting a 401(k) Plan for Your Company: 5 Things You Need to Know
"'If it's a tool to be competitive in the marketplace, then design the plan in such a way that employees are rewarded,' . . . . 'If it's a tool for retention, then build in safeguards and incentives for employees to stay at the company and in the plan. If it's a tool to compensate management, then do the company contributions so that they flow through to management -- in a legal way.'" (TheHuffingtonPost.com, Inc.)

A Modest Proposal to Enhance Reporting and Other Tax Compliance by Owner-Employees and Their Pension Plans
"Four modest changes would improve compliance with the Code requirements pertaining to (1) an Owner-Employee or his beneficiaries including a benefit distribution in his or her income; (2) an Owner-Employee older than 70 ½ receiving minimum distributions; (3) the governing instruments of an Owner-Employee Plan satisfying tax qualification requirements; and (4) an Owner-Employee Plan operating pursuant to its governing instruments." (Tax Management Weekly Report via Social Science Research Network)

Q&A with Alicia Munnell on Solving the Retirement Crisis
"In two conversations with [a SmartMoney magazine staff writer], Munnell weighed in on the finance and policy issues that have transformed retirement into a source of anxiety for so many . . . ." (Dow Jones & Company, Inc.)

Group Submission to Treasury/IRS Regarding Critical Issues for Hybrid Plan Regulations (PDF)
"The final regulations should state unconditionally that hybrid plans are not required to calculate benefits using the whipsaw method. The final regulations should provide that, if a hybrid plan fails to satisfy any condition in the final regulations (such as a condition designed to protect the account balance), the appropriate remedy is to modify the terms and operation of the plan so that the plan satisfies the condition." (American Benefits Council)

Participant Fee Disclosure Regulations for 401(k) Plans
"In the opinion of the author, these regulations will generate practices by the financial community exactly opposite to the intended results." (Asset Strategy Consultants)

Text of Federal Tax Treatment of Individuals, 2011
"The Committee on Finance has scheduled a public hearing on September 14, 2011, entitled 'Reform Options: Marginal Rates on High Income Taxpayers, Capital Gains and Dividends.' This document . . . provides a summary of the present law Federal income and employment tax rules applicable to individuals and a discussion of relevant background economic data." (U.S. Congress Joint Committee on Taxation)

Britain's Union Leaders Warn of Campaign of Strikes Against Cuts in Pensions and Public Services
"The 143rd TUC Congress, meeting in London for the first time since 1902, is debating demands for co-ordinated strikes in an 'autumn of discontent' and a campaign against Coalition spending cuts." (BskyB)

Nationwide Unveils New 'Flexible Advantage' 401k Product
(Nationwide Financial)

Michigan-based McGraw Wentworth Named To Inc. 5000 For Fifth Consecutive Year
(McGraw Wentworth)