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Not on a PPA Plan Document List? Join ASCi! [Advert.]
If your company is not on a pre-approved plan sponsor list by April 2nd, you could face severe consequences from the IRS including being ineligible to offer Plan Documents to your clients. To join ASC’s document list click here.
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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)
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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)
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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.)
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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)
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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)
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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)
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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)
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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)
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[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)
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Benefits in General; Executive Compensation
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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)
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Press Releases
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