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November 22, 2011 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Senior Defined Benefit Calculation Analyst
for Diversified in MA

401(k) Administrator
for Swerdlin & Company in GA

Staff Consultant - Retirement Plan Administrator
for BKD, LLP in MO

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Webcasts and Conferences

"Keeping Current - A 2011 Review" Web Seminar
Nationwide on December 20, 2011 presented by SunGard Relius

"Safe Harbor Plans" - A 3-Part Web Seminar
Nationwide on December 13, 2011 presented by SunGard Relius

FutureOffice Network Presents December 6 Smartcast on Health Care Reform: A 2011 Look-back and a 2012 Look-Forward
in Wisconsin on November 21, 2011 presented by FutureOffice Network

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


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[Guidance Overview]
2011 Year-End Disclosure Reminders for Qualified Defined Contribution Plan Sponsors
"You can combine two or more of the above notices into a single document if you time delivery of the combined notice appropriately. For example, you could deliver a combined annual safe harbor 401(k), automatic enrollment and QDIA notice during November as part of your open enrollment process (assuming the plan uses a calendar year plan year)." (McKenna Long & Aldridge LLP)


Vegas is the place to (b)!   [Advert.]

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Union Pension Funds Sue JPMorgan & Goldman Sachs over Allegedly Misleading Statements
"The complaint was filed by IBEW Local 90 Pension Fund and the Plumbers & Pipefitters' Local #562 Pension Fund. Other companies named as defendants in the case include: Bank of America Corp.'s Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBS Securities Inc., Jefferies & Co., Corzine and MF Global officers." (PLANSPONSOR.COM)

Why Pay PBGC Premiums?
"Given current market conditions, there may be a palatable way to reduce the [variable rate premium], or in the best case, eliminate it. With interest rates at historic lows, you may have given thought to the idea that now might be a good time to borrow. After all, money is cheap right now. But if you haven't considered borrowing to fund your pension plan, maybe you should." (Milliman, Inc.)

Retirement Income Study by Charles Schwab (PDF)
"While most pre-retirees give themselves an 'A' or a 'B' grade on how prepared they are to pay themselves a monthly income in retirement, almost half would change something about how prepared they are. Results suggest multiple gaps in retirement income preparation . . . ." (Charles Schwab & Co., Inc.)

SunTrust Banks Freezes Pension Plan and Enhances 401(k) Plan
"Participants in SunTrust's cash balance plan, which the Atlanta-based bank set up in 2008, will stop earning pay-related credits after Dec. 31 . . . . In addition, benefit accruals for long-service employees who opted to remain in SunTrust's traditional final average pay plan at the time of the cash balance plan conversion also will stop at end of this year." (Business Insurance)


Increase the profitability and potential of your investment-only business   [Advert.]

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401(k) Participants' Access to High-Quality Fiduciary Investment Advice and More Transparency Regarding Fees
"New regulations make it easier for organizations to offer financial advice to retirement-plan participants as well as require transparency on investment decisions and potential conflicts of interest. The increased disclosures, however, could lead to information overload for the participants, especially those who are not financially sophisticated." (Human Resource Executive Online)

A Better Answer to the Actuarial Discount Rate Debate (PDF)
"[The] article presents a fresh perspective on actuarial discount rates and understanding pension risk." (International Foundation of Employee Benefit Plans via Cheiron, Inc.)

New DOL Consumer Assistance web page Allows Users to Submit Questions and Complaints Electronically
"Employees, plan sponsors, service providers, and others will appreciate access to the information about the EBSA's programs and services along with the ease of submitting questions and complaints electronically. The related news release notes that EBSA advisors will respond to inquiries and complaints 'as soon as possible but no later than three business days' with a goal of providing 'more efficient service to individuals seeking assistance.'' (Thomson Reuters/EBIA)

401(k) Loans at Less Than 'Prime Plus 2%' Pose Audit Risk
"Below-market loans could trigger an IRS assessment of prohibited transaction excise taxes and violate the Code's anti-assignment rules, jeopardizing a plan's tax-qualified status." (Mercer LLC)

[Opinion]
Fiduciary in Fact or Just Appearance?
"[The author sees] the need for a distinct difference to be made between a fiduciary advisor and a broker/salesperson." (AdvisorOne)

[Opinion]
Government Worker Pensions ARE Wall Street
"In an editorial posted in January 2011 entitled 'Wall Street & Public Sector Unions,' we identified an irony still lost on the occupy movement's rank and file—Wall Street is financed by the pension funds of unionized government workers. Every year, taxpayer funded government agencies pour hundreds of billions of dollars into Wall Street investment funds." (Union Watch)

Benefits in General; Executive Compensation

[Guidance Overview]
ISS 2012 Updates to Proxy Voting Guidelines
"The key change in the ISS 2012 updates is that, going forward, the first time a post-IPO company presents an equity plan for Section 162(m) approval, ISS will give the plan a full equity plan evaluation." (Morgan, Lewis & Bockius LLP)

Stock Ownership Guidelines Hard-Wired Into the Plan?
"I wanted to point out to readers a company that recently incorporated its stock ownership guidelines into its stock incentive plan document, which I had not seen previously. The amended Motricity, Inc. 2010 Long Term Incentive Plan, approved by stockholders on October 28, 2011, contains the following paragraph . . . ." (Michael S. Melbinger via Winston & Strawn LLP)

Nonqualified Deferred Compensation Plans: Plan Decisions and Changing Tax Conditions
"This white paper will: Look at which individuals are potentially affected by proposed tax changes; Examine four key factors that need to be considered when comparing the effect of taxes on deferred compensation versus paying taxes currently; Provide scenarios of how tax rate changes might impact NQDC plan deferrals over time." (Principal Life Insurance Company)

Use of Statistical Sampling in Pay Ratio Disclosures Would Be 'Extremely Difficult,' SEC Told
"Allowing employers to use statistical sampling to comply with Dodd-Frank's employee-to-CEO pay ratio disclosure rule wouldn't make the calculation much easier, according to the Center On Executive Compensation." (Mercer LLC)

Press Releases



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Jeanette Hull, News Editor
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