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Advance Your Career with ASPPA this Fall [Advert.]
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.
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[Guidance Overview]
Application of Service Provider Fee Disclosure Regulations to Third Party Administrators
"Many TPAs have determined that they are not subject to the disclosure requirements because they receive their compensation directly from the employer or from the plan. TPAs that have made such determinations may, nevertheless, have concerns because they may receive unanticipated indirect payments from financial institutions to which they refer business."
(SunGard Relius)
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Rule Lets 401(k) Plan Advisers Take More Fees
"Regulation announced by the Department of Labor on Monday will allow investment advisers to retirement plans now receive fees from third parties, such as mutual funds, a change that may help those advisers expand their business with retirement plans."
(Reuters)
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Retirement Plan Providers Can Now Offer Own Advice
"Retirement plan providers, including big companies like Fidelity, Vanguard or T. Rowe Price, can offer the advice themselves as long as they avoid conflicts of interest by meeting one of two conditions."
(The New York Times; free registration required)
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Public Pension Pressures in the United States
"This paper discusses why public pensions have warranted so much interest of late, focusing on their financing status and reform options."
(Pension Research Council; free registration required to download papers)
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Retirement Investment Funds Built for Skittish Times
"Pimco has created its RealRetirement target-date funds with a strategy that appears to be custom-built for these skittish times. There's less money in stocks, more inflation protection, hedging to protect against large losses and freedom for the Pimco fund managers to make bets on the fly."
(The New York Times; free registration required)
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DOL Urges Amara Court to Reinstate Remedy for Flawed SPD
"The US Supreme Court's discussion of ERISA remedies for a flawed SPD was a formal conclusion lower courts must follow, a [DOL] brief argues, refuting claims the discussion wasn't essential to the CIGNA v. Amara ruling."
(Mercer LLC)
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Sutter County, NY, Employees OK Pay and Pension Givebacks
"Under the new contracts, that pension formula dropped from 3 percent per year to 2 percent for most sheriff's and fire employees and from 2.7 percent to 2 percent for miscellaneous employees, according to a press release from the county."
(The Sacramento Bee)
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Funding the Post-Pension Retirement
"Far more people will retire without pensions and will need to rely on their accumulated savings to pay for everything that Social Security doesn't cover. So how will you turn those funds into the monthly income you will need to pay your bills?"
(The Wall Street Journal)
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[Opinion]
401(k) Plans Not a Good Deal for Most Participants
"The scariest thing about retiring in this stagnant economy is that if you do realize you're running out of money, it will be tough to find a job that pays as well as the one you had -- much less find one at all. Here's why most retiring Boomers in the private sector will likely run out of money in five years or less."
(TheHuffingtonPost.com, Inc.)
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[Opinion]
NYC Comptroller's Report Finds City Pension Plan Is Wonderful
"City pension costs are a crisis—one that the city's fiscal watchdog, John Liu, should tackle. Instead, Comptroller Liu just released a report whose title might as well be 'Nothing to See Here, Folks—Just Leave Your Wallet and Move Along.'"
(NYP Holdings, Inc.)
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Benefits in General; Executive Compensation
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IRS Guidance on Federal Income Tax Returns for Registered Domestic Partners in Community Property States
"The IRS released a set of Questions and Answers to supplement Publication 555 Community Property regarding the preparation of Federal income tax returns for same-s.ex spouses in California and registered domestic partners in California, Nevada and Washington. The Q&As address various topics, including head of household status, claiming children as dependents and claiming adoption credits."
(Deloitte via BenefitsLink.com)
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Press Releases
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