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BenefitsLink Retirement Plans Newsletter

January 25, 2012 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Manager of Retirement Services
for McCamish Systems, An Infosys Company in GA

Employee Benefits Associate
for Day Pitney LLP in NJ

Defined Benefit/Defined Contribution Specialist
for Growth Oriented TPA Firm in CA

Consultant, Teams Leadership
for Boutique Benefits Consulting Firm in NY

Defined Contribution Specialist
for The Benefit Practice in CT

Compliance Testing & Form 5500 Analyst Sr.
for AUL/OneAmerica in IN

Qualified Plan Specialist
for CUNA Mutual Group in WI

Retirement Services Consultant
for CUNA Mutual Group in WI

Sr. Retirement Consultant
for CUNA Mutual Group in WI

IRT Relationship Manager
for Wells Fargo in ID, OR

Testing Consultant
for Diversified in MA

Pension Administrator
for City of Hollywood Firefighters Pension Fund in FL

Compliance Analyst, Contractor
for The Newport Group in NC

Senior Client Relationship Manager
for The Newport Group in ANY STATE

Assistant Benefits Financial Manager
for SEIU Benefit Funds in DC

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Webcasts and Conferences

The New Fee Disclosure Era: Bracing for the Impact Webcast
Nationwide on February 22, 2012 presented by Roland|Criss Fiduciary Services


We also publish the BenefitsLink Health & Welfare Plans Newsletter (free): Subscribe

[Guidance Overview]
Fee Disclosure: An Overview for Plan Sponsors and Their Advisors (PDF)
"[This article] is a summary of the provisions of the new regulations and how plan sponsors and participants will be affected." (Sentinel Benefits & Financial Group)


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[Guidance Overview]
The DOL's Position on 'Capturing' Rollovers (PDF)
"This article examines statements made by [DOL] regarding distributions and rollovers from qualified plans to IRAs. We are advising RIA and broker-dealer clients on how to structure their rollover programs in light of this guidance, and it is important for advisers to understand the DOL's views on this significant issue." (Drinker Biddle & Reath LLP)

San Jose Council Members Move to End Their Pensions
"The council voted unanimously to notify the California Public Employees' Retirement System of the city's intent to terminate the council member pension plan." (San Jose Mercury News)

Virginia Bill Shifts Portion of Pension Load to Teachers, Local Government Workers
"All public school teachers and local government employees would have to contribute 5 percent of their pay toward their retirement plan under legislation introduced in the Virginia Senate." (Richmond Times-Dispatch)

PBGC Financial Assistance Payments to Multiemployer Plans, 2005-2012 (Excel spreadsheet)
PBGC updated the data set containing information on multiemployer plan financial assistance payments from 20005 through the first quarter of the 2012 fiscal year. (Pension Benefit Guaranty Corporation)

PBGC Updates Financial Summary for Multiemployer Plans (Excel spreadsheet)
PBGC's financial summary offers data for the 2004–2011 fiscal years for multiemployer plans. (Pension Benefit Guaranty Corporation)

Are 401(k) Plan Sponsors Making the Fiduciary Grade?
"It makes sense for 401k plan sponsors to . . . grade their plan on each of the Five Areas of Fiduciary Liability: 1) Regulatory Compliance — State and Federal; 2) Independence of Providers — Service Vendors Conflicts of Interest; 3) Integrated Investment Policy Statement; 4) Documented Investment Due Diligence; and, 5) Trustee and Participant Education." (Fiduciary News)

2012 Hot Topics in Retirement: Survey Highlights (PDF)
"This year's survey results show that employers are continuing to assess the most defective way to deliver retirement benefits to their employees and keep up with the evolving retirement landscape." (Aon Hewitt)

Starting and Maintaining a 401(k) Made Easy
"The No. 1 thing to remember, as financial professionals remind us, is to diversify. That helps mitigate risk, which can erode investment returns." (TheStreet, Inc.)

Should You Roll Over Your 401(k)?
"[T]he most common advice that retirees with 401(k) money receive is to roll the plan over into an individual retirement account (IRA). But is this really always the best option? Although the answer to this is clearly yes in many cases, this article will examine the pros and cons of this common financial transaction, and when it may make sense to avoid it." (Investopedia US via Hearst Communications Inc.)

Fiduciary Duty and Employee Education in Defined Contribution Plans (PDF)
"Since fiduciaries must act for the exclusive purposes of providing benefits to participants and their beneficiaries, a fiduciary should consider providing participants with every reasonable opportunity to maximize their benefits, which would include education on the plan's provisions and investment options." (Conrad Siegel Actuaries)

America's Commitment to Retirement Security: Investor Attitudes and Actions (PDF)
"With millions of U.S. households personally directing their retirement savings, [ICI] has sought to track retirement savers' actions and sentiment over time. This report, our fourth annual update, summarizes results from two surveys covering 2011 data -- a survey of U.S. households and a survey of defined contribution (DC) plan recordkeepers." (Investment Company Institute)

Debate over Public Pensions Research by Stanford Institute for Economic Policy Research
"A Dec. 13 SIEPR report . . . titled 'Pension Math: How California's Retirement Spending is Squeezing the State Budget,' examined the state of three of California's public employee pension systems: [CalPERS]), [CalSTRS] and the University of California Retirement Plan . . . . The study concluded that debt on public pensions was larger than the state is currently reporting . . . . " (Stanford Daily)

Call for Papers: The Basics of Funding Public Sector Pension Plans
"Essay authors may choose how they distinguish between 'good, better, best and not recommended;' authors can consider factors such as ability to withstand economic downturns; alignment with sponsor cash flow considerations; time period over which an underfunded plan would become fully funded; allocation of costs to generations of taxpayers; ability to produce smooth pattern of contributions; alignment with markets (e.g. discount rates and investment); risk management; future service periods; or other factors of the author's choosing. . . . Essays should be submitted by Friday March 30, 2012 to Susan Martz, smartz@soa.org." (Society of Actuaries)

Financial Education Initiatives in the Workplace Survey Findings
"Approximately one-half of organizations (52%) offer financial education to their employees, [but] this percentage has decreased from 64% in 2009. These findings examine the impact that personal financial challenges have on employees as well as the types of initiatives that organizations have in place to alleviate the financial challenges faced by their employees." (Society for Human Resource Management)

Consumption Structure, Welfare Goods and Retirement Income: Linking the Ageing Puzzles
"[The authors] found that the relative generosity of welfare systems have a significant negative impact on household saving rate. It can also explain why the increase in longevity does not have had in general a positive impact on the household saving ratio." (Social Science Research Network)

[Opinion]
Public Pensions Are Not The Enemy
"It's not as though public employee unions are resisting any and all change. They did their part and agreed to a new pension tier [under the New York State and Local Retirement System] just two years ago that is projected to save $35 bil.lion over 30 years. This is on top of wage freezes, furloughs, increased health contributions and layoffs." (NY Daily News)

Benefits in General; Executive Compensation

[Guidance Overview]
2012 Deadlines Approach to Furnish Incentive Stock Option and Employee Stock Purchase Plan Information Statements and Returns
"In addition to the employee information statements, corporations must file returns with the Internal Revenue Service on Forms 3921 and 3922 no later than February 28, 2012, if filed on paper, or April 2, 2012, if filed electronically." (DLA Piper)

Fortune's 'Best Companies' Set the Benefits Bar High
"Fortune magazine's annual list of 'Best Companies to Work For' is out, honoring 'dream' employers that offer 'fat paychecks, sweet perks, fun colleagues, and over 70,000 jobs ready to be filled.'" (Employee Benefit News)

Press Releases

US Department of Labor Sues Former CEO of Charlotte, NC, Web Development Company to Restore more than $100,000 to 401(k) Plan
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Transamerica Retirement Services Receives 93 “Best in Class” Ratings in Chatham Partners’ 2011 Client Satisfaction Analysis
(Transamerica Retirement Services)

Aon Hewitt Survey Finds Employers Doubtful About Workers Ability to Adequately Prepare for Retirement
(Aon Hewitt)

CPI Qualified Plan Consultants, Inc. Launches Rebranded Corporate Website
(CPI Qualified Plan Consultants, Inc.)

401kTest.com Welcomes Apex Payroll to the Family
(401kTest.com)

Nationwide Coalition Lauds Rep. Danny Davis' Opposition To Mega-PBM Merger
(Preserve Community Pharmacy Access NOW! (PCPAN))

ABG Carolina Acquires Brown Edwards
(Pentegra Services, Inc.)



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

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