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March 30, 2012 Get Health & Welfare News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Pension/Benefits Administration Specialist
for Associated Benefit Planners, Ltd. in PA

401(k) Relationship Manager
for Industry Leading Financial Services Firm in CA

Employee Benefit Operations Administration Analyst
for HCL America Inc in NC

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Webcasts and Conferences

Sales RockStar Offers More Sales Opportunities than Ever
Nationwide on March 30, 2012 presented by Davidson Marketing Group -- FutureOffice Network

2012 Spring Conference
in Arizona on May 3, 2012 presented by Western Pension & Benefits Conference - Phoenix Chapter

Spousal and Domestic Partner Issues in Pensions and Retirement Income Webcast
Nationwide on April 12, 2012 presented by American Bar Association (ABA)

A Case Study in Ethics
in Florida on April 16, 2012 presented by ASPPA Benefits Council of Central Florida


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[Guidance Overview]
A Solid, Pro-Defense Ruling on ERISA from the Ninth Circuit
"Skinner is an important decision for ERISA litigators because it is one of the first and most comprehensive appellate court discussions of equitable remedies after Amara. It also suggests that many of these remedies are fundamentally incompatible with the facts of many ERISA cases." (Seyfarth Shaw LLP)


National Employee Benefits Day Is April 2, 2012   [Advert.]

Sponsored by IFEBP (International Foundation of Employee Benefit Plans)

National Employee Benefits Day acknowledges trustees, administrators, corporate benefits practitioners and professional advisors for their dedication to providing quality benefits and the important role they play in their colleagues' well-being. Make your plans now!


[Guidance Overview]
District Court Properly Applied Forum State's Borrowing Statute to Determine Limitations Period for Pension Benefits Claim
"Although the suit was filed in New York, where the applicable limitations period is six years, the New York borrowing statute directed the court to apply Pennsylvania's four-year limitations period. As a result, the participant's claim was time-barred." (Wolters Kluwer Law & Business / CCH)

Re-Imagining Pensions: Using Innovative Pension Plan Design to Reduce Risk and Increase Retirement Income
Includes links to videos of all presentations. "Covington & Burling, the Pension Rights Center, and the Urban Institute sponsored a conference on February 22, 2012, to discuss new pension plan designs to improve retirement security [which featured] three panel discussions ...: risk-sharing, coverage and adequacy, and annuitization. Panelists included Phyllis Borzi of the Labor Department, Mark Iwry of the Treasury Department, Josh Gotbaum of the PBGC, and experts from government, the business community, labor groups, academia, and advocacy organizations." (Pension Rights Center)

Chart: Estimates of States' Net Tax-Supported Debt and Unfunded Pension Obligations as a Percentage of Personal Income (PDF)
"Combined pension data by state is estimated by Fitch based on state-provided figures, and/or most recent state bond disclosure documents, state annual reports, pension system annual financial reports and actuarial valuations. Fitch adjusted figures assume an 11% change in actuarial liabilities for every 1% variance between 7% and the plan's investment return assumption." (Fitch Ratings)

Latest Municipal and State Pension Data Show Crash Continues
"Anyone who thinks 2011 was just a transient bad bounce in a slow recovery from the Great Recession should consider the fact that according to calculations from a more comprehensive prior Census survey of 2,550 state and municipal pension plans through June 30, 2008 — prior to the market crash — funds already had lost $179 bil.lion." (WatchDog.org)

Before Making that 2011 IRA Contribution, Make Sure Your Pension Plan Assets Are Safe
"If you do put money in a pension plan, whether self-directed through a custodial agent or via an employer-sponsored plan, make sure you know exactly where your money is going — and who's really managing it once it gets there." (Money Morning)

The Evolution of Company Stock in Defined Contribution Plans
"Since 2005, the incidence of company stock in DC plans has declined. Employer-directed contributions remain the dominant factor associated with participants holding a concentrated position in company stock. Participants in plans that direct employer matching contributions to company stock are more than twice as likely to hold a concentrated position (defined as more than 20% invested in employer stock) than plans without employer-directed holdings." (Vanguard)

Understanding and Managing the Risks of Retirement (PDF)
"[Survey respondents' preponderant concerns were] related to keeping the value of investments up with inflation, income varying as a result of changes in interest rates, the affordability of health care and long-term care, outliving assets, and maintaining a reasonable standard of living.... This report provides an overview of these post-retirement risks, how they are perceived, and ways Americans use to protect against them. It presents key findings on the major retirement risks explored in the 2011 survey and provides context for the results in relation to other studies." (Society of Actuaries)

2011 Risks and Process of Retirement Survey by Society of Actuaries (PDF)
"The purpose of the study was to evaluate Americans' awareness of potential financial risks in retirement, how this awareness impacts the management of their finances with respect to retirement, and how Americans are managing the process of leaving the workforce." (Society of Actuaries)

Are You Counting on Social Security?
"Here are some things [for federal workers and the rest of us] that are important to understand about Social Security to have a realistic view of the role it will play in your retirement[.]" (Government Executive)

EBSA Web Page for Employers: Understanding Retirement Plan Fees and Expenses
"This booklet will help you better understand and evaluate your plan's fees and expenses. While the focus is on fees and expenses involved with 401(k) plans, many of the principles discussed in the booklet also will have application to all types of retirement plans." (Employee Benefits Security Administration)

Finances of 100 Largest State and Local Government Employee Retirement Systems, 4th Quarter 2011
"This quarterly survey provides national summary statistics on the revenues, expenditures and composition of assets of the 100 largest state and local public employee retirement systems in the United States. These 100 systems comprise 89.4 percent of financial activity among such entities, based on the 2007 Census of Governments." (Census Bureau)

Complementary Paths to Retirement: How Men and Women Can Learn from One Another (PDF)
"[W]omen are more likely to enjoy retirement and feel more excited and enthusiastic about their retirement journey. They also seem to have adapted the necessary skill set to help them cope with the transition to this important milestone. Yet for women, there are also additional challenges in preparing for retirement as a result of their lower earnings, caregiving responsibilities and relative longevity." (BMO Retirement Institute)

[Opinion]
American Fidelity Assurance Company — Low Fees for Us; High Fees for Educators
"[W]hen it comes to plan fees, this Oklahoma City-based firm behaves one way at home and another way on the road. Let's compare the retirement plan AFA offers its employees with the retirement products they pitch in California." (403bWise.com)

[Opinion]
American Benefits Council Comments on Proposal to Increase PBGC Premiums: Myths and Facts (PDF)
"Adoption of this proposal in whole or in part would substantially accelerate the decline of the defined benefit plan system and adversely affect job retention. Several myths about PBGC that have been raised during the policy debate are highlighted here." (American Benefits Council)

[Opinion]
The SPARK Institute Requests Transition Relief in Connection with Anticipated Fee Disclosure FAQs (PDF)
"The SPARK Institute appreciates the DOL's willingness to clarify issues concerning the disclosure regulations that have been raised by service providers, trade groups, participant groups, and plan sponsors. However, as explained in this letter, because the regulations are effective July 1, 2012 and August 30, 2012 (for calendar year plans), if the DOL interprets the disclosure regulations in a manner that is inconsistent with service providers' interpretations and already programmed disclosure solutions, service providers will need additional time to adjust their compliance approaches." (The SPARK Institute)

[Opinion]
New JOBS Act Will Revolutionize Retirement
"The recently passed JOBS Act may go down as one of history's most revolutionary pieces of legislation, relative to the future of planning and investing for retirement. The bill is designed to make it easier for small business to access investment capital and, by doing so, will create a new, Crowd-funding asset class as well as bring self-directed IRA's out of the shadows and into the spotlight." (Forbes)

[Opinion]
ACLI Statement for Senate Committee Hearing on Retirement (In)security: Examining the Retirement Savings Deficit (PDF)
Submitted to Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy for March 28, 2012, hearing. "ACLI urges this Committee to look at other proposals that would expand retirement savings opportunities. The ACLI supports reforms to and expansion of the private multiple employer plan (MEP) system to further encourage and facilitate participation by employers that are not prepared to sponsor a stand-alone retirement plan." (American Council of Life Insurers)

Benefits in General; Executive Compensation

[Guidance Overview]
New Foreign Financial Asset Reporting Requirement with Deadline of April 17, 2012
"The Foreign Account Tax Compliance Act (FATCA) requires certain U.S. taxpayers holding foreign financial assets, including an interest under a foreign pension or deferred compensation plan and foreign equity awards, to report those interests beginning with this tax filing season. Taxpayers who fail to meet their obligation to file Form 8938 are subject to significant penalties.... Note that FATCA reporting requirements are separate from FBAR reporting of foreign financial accounts[.]" (McDermott)

[Guidance Overview]
Should Section 457(f) Apply to Deferred Compensation Plan of For-Profit Subsidiary of Tax-Exempt Organization?
"[T]he provisions of Code Section 457 (and the related Treasury Regulations, which [are not cited] here) as well as a Private Letter Ruling generally support the conclusions that no part of Code Section 457, including Section 457(f), should apply to the for-profit subsidiary of a tax-exempt entity. But it takes more than a few steps, and a modicum of hand wringing, to reach that conclusion." (Verrill Dana)

[Guidance Overview]
Presentation on Code Section 409A: Revisiting the Basics (PDF)
Topics discussed included: Arrangements subject to, and excluded from, Section 409A requirements; Section 409A election timing rules; Section 409A payment restrictions and related exceptions; A brief summary of available relief for Section 409A compliance errors. (Morgan Lewis)

Press Releases



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