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January 4, 2012 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

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Webcasts and Conferences

"Practical Guide to Plan Fee Disclosures Workshop 2012" - Cincinnati
in Ohio on February 3, 2012 presented by SunGard Relius

"Practical Guide to Plan Fee Disclosures Workshop 2012" - Des Moines
in Iowa on February 2, 2012 presented by SunGard Relius

"Practical Guide to Plan Fee Disclosures Workshop 2012" - Detroit
in Michigan on February 2, 2012 presented by SunGard Relius

"Practical Guide to Plan Fee Disclosures Workshop 2012" - Minneapolis
in Minnesota on February 1, 2012 presented by SunGard Relius

Breakfast Meeting with L.A. City Controller Wendy Greuel, and candidate for Mayor of L.A., and with Dan Weeks, Co-Founder and COO of BrightScope
in California on January 10, 2012 presented by Employee Benefits Association of Los Angeles

Participant Loans
Nationwide on January 27, 2012 presented by McKay Hochman Co., Inc.

Ready to Handle MLR Rebates in 2012? Understanding the New Rules for Employer Health Plans
Nationwide on January 19, 2012 presented by Thomson Reuters / EBIA

Retirement Practitioner Research Tools
Nationwide on January 26, 2012 presented by McKay Hochman Co., Inc.

Using IRS and DOL Correction Programs for Retirement Plans Seminar
in Massachusetts on January 24, 2012 presented by New England Employee Benefits Council

Webinar Money in 401(k) Plans: Is Everything Old New Again?
in California on March 13, 2012 presented by Employee Benefits Association of Los Angeles

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[Official Guidance]
2011 Reporting for 2010 Roth Rollovers and Conversions
"In 2010, you may have: rolled over eligible distributions from a retirement plan to a Roth IRA, converted (transferred) amounts from a non-Roth IRA to a Roth IRA, or made an in-plan Roth rollover (after September 27, 2010). If so, you must report half of the taxable amount of these 2010 rollovers and conversions on your 2011 income tax return unless you . . . ." (U.S. Internal Revenue Service)

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18 workshops to advance your career, "Washington Update" with Brian Graff, exciting networking opportunities, post-summit access to recordings and handouts, more affordable pricing and outstanding accommodations!

[Official Guidance]
EBSA Advisory Opinion 2011-10A: Contributions by a Union's Trust Fund to a Pension Plan
"[DOL was asked w]hether certain cash contributions to a pension plan by the Cement and Concrete Workers District Council Labor Management Cooperation Trust would result in prohibited transactions under section 406 of ERISA and section 4975 of the Code." (U.S. Employee Benefits Security Administration)

[Official Guidance]
Annual Restatements of Determination and Opinion Letter-Related Revenue Procedures (PDF)
IRS Internal Revenue Bulletin, January 3, 2012; contains Rev. Proc. 20124 (rulings and information letters; Rev. Proc. 20114 superseded); Rev. Proc. 20125 (technical advice; Rev. Proc. 20115 superseded); Rev. Proc. 20126 (employee plans determination letters; Rev. Proc. 20116 superseded); and Rev. Proc. 20128 (user fees; Rev. Proc. 20118 superseded). (U.S. Internal Revenue Service)

[Guidance Overview]
Certain Governmental Plans Have Longer to Amend for Group Trust Participation
"Section 401(a)(24) governmental plans may participate in an 81-100 group trust even though the plan document has not yet been amended to satisfy the requirements of Rev. Rul. 2011-1, if the authority to amend the plan is held by a legislative body." (Mercer LLC)

[Guidance Overview]
Sham 'Early Retirements' Could Disqualify Pension Plan, IRS Cautions
"Employees under age 62 who 'retire' with the explicit understanding that they will immediately return to service with the same employer do not qualify for early retirement benefits, according to a recently released IRS private letter ruling." (Mercer LLC)

Insights from ING's Study, Retirement Revealed, to Start the New Year (PDF)
"While the study revealed that employer-sponsored plans are widely used, consumers could do better supplementing this important means of saving. Overall, more consumers could increase their contributions in order to receive the full employer match, taking better advantage of the sponsored benefits available through their workplace. Some of the data revealed key areas where consumers are doing well, and other areas where there is room for improvement . . . ." (ING North America Insurance Corporation)

Will 2012 Be the Year of the 401k Fiduciary?
"When [the] anticipated onslaught of regulations emerges, the world will change for 401k plan sponsors. . . . 'The new regulations will require more oversight from the plan sponsor than ever before, and places much of the onus on the plan sponsor for disclosure, due diligence, and frequent monitoring of providers for quality services for the fees paid.'" (Fiduciary News)

Why Retirement Plan Sponsors are Always on the Hook for Liability
"One of the biggest misconceptions out there is that, since a plan sponsor can delegate many of its duties to third parties, these delegations can eliminate a plan sponsor's liability as a fiduciary liability." (The Rosenbaum Law Firm P.C. via JD Supra, LLC)

Official Analysis of Two California Public Pension Reform Initiatives Shows Costs Could Go Up, Not Down
"The nonpartisan Legislative Analyst's Office review of two versions of an initiative proposed by California Pension Reform . . . said putting new state and local government hires in cheaper retirement plans could trigger major costs. The analyst said an initiative giving new hires 401(k)-style investment plans could increase employer costs for two or three decades by 'up to several bil.lion dollars more per year (in current dollars) to cover pension costs of current and past employees.'" (

Another Question is Answered in the Who's the Employer Q&A Column
John is the one of three equal general partners of a general partnership (not an LLC). The general partnership does not have any employees. Could John set up a defined benefit plan for himself? (

Funding Gap Doubles for U.S. Corporate Pensions
"From a moderate surplus at the end of 2007, pension plan assets at S&P 500 companies now cover only about 74 per cent of estimated liabilities, calculates Credit Suisse, a deficit of roughly $450bn." (CNBC LLC)

How to Determine If a Cash Balance Pension Plan Is Right for Your Company
"'If they have not maxed out their 401(k) plan, we recommend that they do so prior to establishing the cash balance pension plan. In combination, these two plans can enable the organization to cost effectively meet a variety of goals relative to the principles of the practice.'" (Smart Business Network Inc.)

Minneapolis Pension Plans Merge Into State Plan; Legal Battle Ends
"Minneapolis' closed police and firefighters' pension funds have merged into the statewide public safety pension plan. A judge's signature on a pension lawsuit settlement resolved the last snarl between the city of Minneapolis and the pension funds which have been closed to new members for 31 years. For the first time in more than five years of fighting the city's legal claim that they were overpaid, pensioners don't have to worry about refunding part of their past pensions and know they'll get a major increase in benefits, according to the Minneapolis Star Tribune." (PLANSPONSOR.COM)

Bipartisan House Bill Seeks to Ease Compliance Burdens for Retirement Plan Sponsors and Participants
"Among the pension reforms: plan assets would not be reduced by credit balance when determining funded status for benefit restrictions, IRS would have to make interim amendment rules more workable, and certain plans with service-based normal retirement ages would be deemed lawful (minimum 30 years of service or plan is governmental)." (Mercer LLC)

Benefits in General; Executive Compensation

[Guidance Overview]
Issues in the Upcoming Annual Report and Proxy Season (PDF)
"This issue highlights key SEC reporting and corporate governance considerations that will be important during this annual meeting season as well as in the upcoming year. In this issue, we are including our customary articles on recent SEC, NYSE/Nasdaq and general corporate law developments." (Snell & Wilmer L.L.P.)

SEC Formally Postpones Dodd-Frank Rulemaking
"SEC updated the Dodd-Frank Implementation section of its website to delay the 'planned' issuance date for the remaining rules required by the executive compensation provisions of the Act . . . ." (Michael S. Melbinger, Esq. of Winston & Strawn LLP)

2012 U.S. Proxy Voting Summary Guidelines (PDF)
"ISS' Benchmark proxy voting guidelines serve as a tool to assist institutional investors in meeting their fiduciary requirements with respect to voting by promoting shareholder value creation and risk mitigation at their portfolio firms." (Institutional Shareholder Services 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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