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BenefitsLink Retirement Plans Newsletter
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[Guidance Overview]
A Look at the Draft of 2010 IRS Form 8955-SSA
"The draft instructions provide that once the 2010 form is released, a separate 2009 form can no longer be filed for 2010 reportable information. Depending on when the IRS releases the 2010 form, the delay may make it difficult for software providers to make available the 2010 form on software before the January 17, 2012 deadline."
(SunGard Relius)
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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.
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[Guidance Overview]
PBGC Provides Premium Penalty Relief (PDF)
"In response to an executive order directing federal agencies to review and improve their regulatory processes, the Pension Benefit Guaranty Corporation (PBGC) has issued a notice providing welcome relief from certain premium penalties. The notice also provides relief for certain situations involving alternative premium funding target elections."
(Prudential Retirement)
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[Guidance Overview]
Fiduciary-Level Disclosures for ERISA Retirement Plans (PDF)
"The 408(b)(2) regulation should result in plan sponsors who are more informed and better equipped to act in the best interest of their participants. In addition, as plan costs are identified with payment detail, plan sponsors will be in a better position to make plan expense decisions that can benefit their participants."
(METLIFE, INC.)
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Roth IRA Answer Book [Advert.]
Roth IRA Answer Book provides in-depth coverage of the administration and operation of Roth IRAs. A team of practicing experts analyzes the most recent developments in practice, as well as legislation, regulation, and law.
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[Guidance Overview]
New IRS Rules for Pre-Approved Plans
"There are numerous important changes in the procedure that employers should be mindful of, including the new six-year remedial amendment cycle. Adopting employers must take care to follow the requirements for plan amendments, so that their plans do not lose their qualified status and become 'individually designed plans.'"
(Practical Law Company)
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Target-Date Funds to Expand to 48% of Defined Contribution Market by 2020
"Target-date retirement funds will represent nearly half of the total $7.7 tril.lion in U.S. defined contribution assets by 2020, and low-cost passive funds along with innovative, customized active accounts will be the fastest-growing strategies adopted by investors, squeezing out the currently dominant mutual funds."
(Employee Benefit News)
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Retirement Planning for Those Who Live Past 100
"Retirement planning advice often assumes a retirement of no more than three decades, but if you retired in your 50s and have a family history of longevity, you could live past 100 and experience almost five decades of retirement. Is it possible to stretch out your nest egg for that long, and if so, how?"
(Investopedia US via San Francisco Chronicle)
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Benefits in General; Executive Compensation
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Asserting the Attorney-Client Privilege in ERISA Cases (PDF)
"A spate of recent case law raises the question of which circumstances will enable advice rendered in benefits matters to be protected by the attorney-client privilege and the related work product doctrine."
(ALM Media Properties, LLC. via The Wagner Law Group)
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The State of Working America
"The State of Working America, an ongoing analysis published since 1988 by the Economic Policy Institute, includes a wide variety of data on family incomes, wages, jobs, unemployment, wealth, and poverty that allow for a clear, unbiased understanding of the economy's effect on the living standards of working Americans."
(Economic Policy Institute)
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[Opinion]
Ohio Federal Judge Allows Say-on-Pay Lawsuit to Proceed
"[The judge] ruled that a lawsuit brought against senior executives and directors of Cincinnati Bell, Inc. alleging a breach of fiduciary duty regarding compensation would be allowed to proceed. The lawsuit focuses on the 'say-on-pay' provisions of the Dodd-Frank Act: specifically, attacking the Board's decision to increase 2010 executive compensation in light of the nonbinding vote by 66% of the voting shareholders to reject that increase.'"
(Porter Wright Morris & Arthur LLP)
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[Opinion]
The Fed Releases Important Paper on Risk and Incentive Compensation
"Last week, the Board of Governors of the Federal Reserve System published a white paper, titled 'Incentive Compensation Practices: A Report on the Horizontal Review of Practices at Large Banking Organizations.'"
(Michael S. Melbinger via Winston & Strawn LLP)
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Press Releases
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Jeanette Hull, News Editor
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Lois Baker, J.D., President
Holly Horton, Business Manager
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