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BenefitsLink Retirement Plans Newsletter
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The Hottest Ticket in Town! [Advert.]
ASPPA co-sponsors several regional conferences each year with the IRS to provide discussion opportunities with colleagues and local, regional and national government representatives from IRS and DOL. Check to see when we're coming to your region!
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[Guidance Overview]
DOL's Final PPA Participant Advice Regulation (PDF)
"A detailed summary of the operation of the final regulation, with other clarifications and refinements noted, is [charted] at the end of this alert."
(Sutherland Asbill & Brennan LLP)
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[Guidance Overview]
Analysis of DOL Final Investment Advice Regulations (PDF)
"The final regulations make moderate changes to the proposed regulations. Many of these changes involve details of the fee-leveling arrangements and computer models . . . as well as clarifying definitions for purposes of the regulation. The final regulations also add language stating that simplified employee pension . . . plans and simple retirement accounts . . . will be considered IRAs for purposes of the final regulations."
(Ascensus, Inc.)
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MassMutual’s Award-Winning ERISA Advisory Services [Advert.]
MassMutual’s 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.
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[Guidance Overview]
Court Approves Settlement of Wachovia Stock Drop Suit
"The class action suit claims fiduciaries of the Wachovia Savings Plan and the A.G. Edwards, Inc. Retirement and Profit Sharing Plan breached their fiduciary duties to act solely in the interest of the participants and beneficiaries of the plans, and to exercise the required skill, care, prudence, and diligence in administering the plans and the plans' assets by continuing to offer company stock as an investment option when it was no longer prudent."
(PLANSPONSOR.COM)
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Ten Arrested in $1 Bil.lion Long Island R.R. Disability Scheme
"Ten people, including a doctor and a former union president, were arrested early Thursday and charged in a major fraud scheme in which hundreds of Long Island Rail Road workers made false disability pension claims costing a federal agency an estimated $1 bil.lion . . . ."
(The New York Times; free registration required)
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Pension Reform: How Have Workers Fared?
"The American pension system has undergone radical changes over the last 30 years. In my forthcoming book, The Transformation of the American Pension System: Was It Beneficial for Workers? I examine some of the consequences."
(W.E. Upjohn Institute for Employment Research)
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Benefits in General; Executive Compensation
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[Guidance Overview]
Participants Who Voluntarily Terminated not Due Nonqualified Benefits
"In dismissing the case, the court also ruled that [the plaintiffs] could not have relied on their belief that their non-qualified benefits had been merged into and vested under Saint Luke's Hospital's qualified plan because they were repeatedly told that if they voluntarily terminated, they would be ineligible for benefits under the Executive Retirement Benefit Restoration Plan."
(PLANSPONSOR.COM)
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Milliman's Multiemployer Review, October 2011 (PDF)
It includes two articles: The Financial Accounting Standards Board (FASB) adopts a new disclosure requirement for employers participating in multiemployer plans and Health reform: A roundup of recent developments.
(Milliman, Inc.)
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Press Releases
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Lois Baker, J.D., President
Holly Horton, Business Manager
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