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October 13, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

401K Administrator
for CPEhr in CA

Health Consultant
for Segal in IL

401(k) Plans Administrator
for Valley Forge Pension Management in PA

Plan Acquisitions & Client Service Specialist
for Martin, Martin, Randall & Associates, Inc. in FL

Director, Business Process Management
for Prudential in NJ

Manager, Disability Claims
for Prudential in ME

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Webcasts and Conferences

An ERISA Foundation: Laying the Groundwork for Successful Fiduciary Oversight
Nationwide on November 3, 2011 presented by Pension Consultants, Inc.

Auditing Eligibility After Health Care Reform: Health Plan Compliance Issues (Including Health FSAs and HRAs)
Nationwide on November 10, 2011 presented by Thomson Reuters / EBIA

Participant Disclosure
Nationwide on December 6, 2011 presented by McKay Hochman Co., Inc.

Retirement Plan Electronic Disclosure Rules
Nationwide on November 30, 2011 presented by McKay Hochman Co., Inc.

The American Retirement Summit
in District of Columbia on November 3, 2011 presented by American Retirement Initiative


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[Guidance Overview]
Supreme Court Ruling on SPDs (PDF)
"The U.S. Supreme Court ruling in Cigna Corp v. Amara (No. 09–804, May 16, 2011) could have a major impact on employers who sponsor qualified retirement plans subject to ERISA." (NPI and McKay Hochman via Kravitz, Inc.)


Advance Your Career with ASPPA this Fall   [Advert.]

Sponsored by ASPPA

Whether working towards an ASPPA credential or just growing knowledge in specific areas, ASPPA exams offer CPE credits (valid for ASPPA, JBEA and ERPA). Proctored exam window is open November 1 to December 14 - register early and have time to prepare.


Pension Contribution Pickup Forecast Through 2016
"Sponsors will fund rising contributions to private pension plans that are still recovering from the investment nosedives of 2008, according to a report . . . by the Society of Actuaries and American Academy of Actuaries." (Employee Benefit News)

Rethinking What's Ahead in Retirement: The Fear of Outliving One's Assets Is Very Real (PDF)
"As Social Security and defined-benefit (pension) plans become less reliable, personal assets must by necessity assume a bigger role in funding retirement. Using proprietary research, and government and industry data, [the author] explores the problem and the history of retirement, then outlines the future of guaranteeing a stream of income to last throughout retirement." (Allianz Life Insurance Company of North America)

Ownership of Individual Retirement Accounts and 401(k)—Type Plans, 1996–2009 (PDF)
"The percentage of workers ages 21–64 with an individual account plan (IRA or 401(k)-type plan) grew significantly in the late 1990s into the early 2000s. By 2009, 33.0 percent of workers owned a 401(k)-type plan and 20.8 percent owned an IRA." (Employee Benefit Research Institute)

Why Women Should Think Differently than Men about Retirement
"[M]en are more likely than women to take the adequate steps toward financial security in retirement. But importantly, women who take charge, do the math, plan for contingencies, and work with their partners and/or financial advisors have a better chance of securing their finances in retirement than those who shrink from the process . . . ." (U.S. News & World Report LP)


MassMutualís Award-Winning ERISA Advisory Services   [Advert.]

Sponsored by MassMutual

MassMutualís ERISA Advisory Services can help plan fiduciaries and other professionals by providing up-to-date information and easy-to-use tools that help simplify the process of maintaining the compliance health of your retirement plan.


Rhode Island Governor Says Pension Overhaul Plan Just Days Away
"[The governor told The Associated Press on Wednesday that he and the state treasurer] are finalizing the plan's details before submitting it to lawmakers. The state's General Assembly plans to consider the proposal during this fall's special legislative session dedicated to pensions." (The Boston Globe)

DOL Seeks to Recover More than $400K for Two Benefit Plans in Ohio
"The complaint seeks the restoration of all plan losses for which the defendants are liable, with appropriate interest. It also seeks to permanently enjoin all four individuals from serving as a fiduciary or service provider to any employee benefit plan subject to ERISA. The case is Solis v. Clark Graphics Inc., et. al." (planadviser; free registration required)

Michigan's Pension Changes May Be Model for Struggling States
"Michigan's 'radical reform' 14 years ago to rescue its retirement system by placing newly hired workers in a 401(k) program may show struggling states the way back from the worst pension crisis ever." (Bloomberg News via Hearst Communications Inc.)

[Opinion]
American Academy of Actuaries' Comments to Actuarial Standards Board on ASOP No. 4 Revisions (PDF)
"The Academy's Pension Committee submitted a comment letter to the Actuarial Standards Board regarding the discussion draft of proposed revisions to ASOP No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions." (American Academy of Actuaries)

[Opinion]
Testimony on Behalf of American Benefits Council and CIEBA before House Agriculture Committee Hearing on Derivatives Provisions of Dodd-Frank Act (PDF)
"[C]ertain proposed regulations affecting ERISA plans could have very adverse effects on plans, none of which were intended by Congress. Accordingly, for reasons discussed in more detail below, we testify today in support of: This hearing's legislative discussion draft that would address critical issues arising under the proposed business conduct standards; Needed legislation that would modify the anomalous treatment of ERISA plans under proposed regulations addressing margin requirements; and H.R. 1840, which would set forth specific factors that must be considered by the CFTC in connection with a cost/benefit analysis of any regulation or proposed regulation." (American Benefits Council)

[Opinion]
Pennsylvania Pension Fix Needs to Include System Overhaul
"The executive director of [the State Employees Retirement System] told The Independent news service that the best solution is a dedicated funding stream . . . ." (The Mercury)

[Opinion]
One Analysis Estimates that FERS Faces a Staggering $5.7 Tril.lion in Unfunded Liability
"The reason for the huge shortfall is a classic case of 'do as I say, not as I do.' . . . . [T]he federal government sets nothing aside, paying its retirement costs from tax revenue and borrowing." (Governing)

[Opinion]
Why Is the Obama Administration Enabling Retirement Rip-Offs?
"What's astounding is that the Treasury Department is going ahead with this annuity scam despite the fact that as a result of being bribed by Wall Street, many members of Congress may prevent Assistant Secretary of Labor Phyllis Borzi from requiring anyone advising 401(k) participants to act as a fiduciary, or in the best interests of their customers." (TheHuffingtonPost.com, Inc.)

Benefits in General; Executive Compensation

Slide Show: Best Practices from Four of Fortune's Best Places to Work
"HR leaders from four of Fortune's 100 Best Places to Work share their tips and strategies on how to foster a productive and happy workforce. Representatives from KPMG, Intel, W. Baird & Co, and Microsoft discussed their company's best practices for work life balance, leveraging social media and corporate transparency." (Employee Benefit News)

Six Innovative Family-Friendly Workplace Practices
"As with using effective work-life practices, there is a definite business case for making your organization more family friendly: among our research sample, we noted that in addition to longer average employee tenures, firms that have this focus earned 49% more revenue in 2010 and were more likely to be profitable as well." (TheHuffingtonPost.com, Inc.)

Press Releases

MassMutual Rated #1 by Retirement Plan Advisors in 2011 Boston Research Group DCP Satisfaction and Loyalty Study
(MassMutual Retirement Services)

US Labor Department Sues Media, Pa., Company and Benefit Plan Trustees to Restore Assets to 401(k) Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

US Labor Department Seeks to Recover More than $1.9 Million in Assets of A.B.D. Tank & Pump Co. Retirement Plan Misused by Company Owner
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Pasadena, Calif.-Based Beauty Salon Owner Sentenced for Embezzling Nearly $90,000 from Employee 401(k) Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

ICMA-RC Observes National Save for Retirement Week
(ICMA-RC)

Denver Paid Sick Days Law Would Benefit Employers, Employees, and Community
(Institute for Women's Policy Research (IWPR))

Vanguard Launches 401(k) Plan Service for Small Businesses
(Vanguard)

John Hancock Financial Network to Launch Cutting-Edge Retirement Income Program
(John Hancock Financial Network)

myStockOptions.com Expands Content On Job Loss To Help Terminated Employees With Equity Awards
(myStockPlan.com, Inc)



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Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher
Lois Baker, J.D., President
Holly Horton, Business Manager

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