Defined Contribution Pension Administrator
for Pension Planning Consultants, Inc. in NM

Plan Administrator/Conversions Specialist
for Jocelyn Pension Consulting, LLC in CA, CO

Relationship Manager
for Aspire Financial Services in FL

Compliance Consultant
for Vanguard in AZ

Compliance Analyst
for The Newport Group in FL, NC

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"The Fundamentals of Cross-Tested Plans - A 3-part program" Web seminar
Nationwide on November 6, 2012 presented by SunGard Relius

An Employer's Roadmap of Healthcare Reform for 2014 and Beyond (NY CLE Program)
in New York on October 24, 2012 presented by WEB (Worldwide Employee Benefits Network ), New York Chapter

CFDD

 

[Official Guidance]

Text of Notice Mailed to Practitioners by PBGC About 2013 Premium Filings (PDF)
Includes a short summary of various premium filer-related aspects of MAP-21, the revocation of an alternative premium funding target election, and other changes coming on the 2013 form. Excerpt: "[The PBGC] expect[s] this to be the last time [it sends] a paper notice to give you information about premium instructions and related reminders. Instead, [PBGC plans] to post future notices on our website or send them by email.... [The PBGC] expect[s] to post the 2013 premium instructions on [its] website ... by January 2013." (Pension Benefit Guaranty Corporation)

[Advert.]

Explore advantages and disadvantages of cash balance plans!

Cash balance plans are a critical facet of any plan consultant's knowledge base. Through this module, you will explore the advantages and disadvantages of a cash balance plan and how it works in combination with a defined contribution plan.

Survey Finds More Stock Plan Assets Earmarked for Investment or Retirement Savings
"[T]he majority of company stock plan assets (57 percent) are being earmarked for eventual investment or retirement savings after participants sell them while just 13 percent of the assets are being targeted to pay off bills or debt in the future. In years past, the largest allotment of assets was directed toward paying off bills and debt (32 percent). Just one quarter of the assets were targeted previously for future investment or retirement savings." (Fidelity via BusinessWire)

U.S. Public Pensions End Bumpy Second Quarter with Losses
"Coming off a best-ever quarterly performance, pension funds for U.S. state and local government workers were stung in April, May and June by sagging global stock markets. The funds recorded losses of $14.2 billion for the second quarter ... In contrast, America's largest public pensions earned $179.3 billion during 2012's first quarter[.]" (Reuters)

Ohio Governor Inks Five State Pension Reform Bills
"Under the reforms, employee contributions to the $62.6 billion Ohio State Teachers' Retirement System increase to 14% from 10%, effective July 1, 2013; while employee contributions to the $12.4 billion Ohio Police & Fire Pension Fund will increase to 12.25% from 10% in annual increments of 0.75 percentage points, beginning July 2, 2013." (Pensions & Investments)

Race to Lower ETF Fees Benefits Investors, But Expenses Aren't Only Consideration
"ETFs are on track to record a sixth-consecutive year of attracting more than $100 billion in new cash. Although ETFs held about $1.2 trillion at the end of July, mutual fund assets are still about 10 times larger." (The Washington Post; free registration required)

[Advert.]

Combo DB/DC Plan Proposals – Fast, Fully Tested and Priced Right

GTS creates fully tested combined DB Cash Balance and DC New Comparability plan designs and prepares client-ready reports and charts. Annual unlimited use license or pay-per-plan with unlimited revisions, exclusively from BLAZE SSI Corp.

It's Up... and It's Good! NFL-Referee Deal Includes DB Plan Freeze
"NFL Game Officials' Pension Plan ... will be frozen after the 2016 National Football League season ... Benefits will accrue through the 2016 season, or until an official earns 20 years of service, and will be frozen in 2017 to be replaced by a defined contribution plan[.]" (Pensions & Investments)

How Will Variable Annuities Evolve as Boomers Seek Retirement Income Solutions?
"[T]he recent uptick in risk aversion highlights the paradoxical dilemma of these complex instruments: right at the time risk-shy advisors and investors are most interested, the product providers pull back because of the risks involved. In protecting themselves, they limit the options within the contracts, or increase the cost of riders." (Financial Planning)

401(k) Fee Litigation Summary, September 2012
The linked item contains a chart summarizing 36 participant claims against plan sponsors and related fiduciaries relating to 401(k) plan fees and, more specifically, revenue sharing arrangements with plan service providers. (Groom Law Group)

Sixth and Second Circuits Widen Circuit Split Concerning Pleading Standards for ERISA 'Stock Drop' and Misrepresentation Claims
"[T]wo recent decisions ... addressed allegations that retirement plan fiduciaries had breached their duties under [ERISA] by offering allegedly imprudent investments in employer securities and by misrepresenting or concealing material information about the company. Applying different standards to reach opposite outcomes, the Second Circuit affirmed the dismissal of such claims, while the Sixth Circuit reversed dismissal and remanded, thereby widening a circuit split over pleading standards for [these] claims." (Sidley Austin LLP)

Alternatives for Finding Missing Participants and Beneficiaries After IRS Discontinues Letter Forwarding Program
"The U.S. Social Security Administration ... maintains a letter forward service [but] charges a flat fee of $25 per letter forwarded, whereas the IRS service was free for requests involving fewer than 50 participants. Another option for a terminating pension plan is the [PBGC] missing participants program." (McDermott Will & Emery)

Fox Rothschild 'For Your Benefit' Newsletter, September 2012 (PDF)
Articles in this issue include: Upon Further Review, Plaintiff Does Have a Remedy! The Gripes of Roth: New Decisions Highlight the Boundaries of Roth's Golden Country; MAP-21 Brings Goods and Bad News to Sponsors of Defined Benefit Pension Plan; IRS Changes Letter-Forwarding Program. (Fox Rothschild LLP)

[Opinion]

New Coordinated Attacks on Public Pension Plans Focus on Fear of Federal Bailout
"Yet another well-planned, well-funded, coordinated attack on public pension plans has surfaced. It includes new academic studies, a new website, a new Congressional report, and supporting media coverage. This time the focus is on the red herring of a Federal bailout of state and local pension plans." (National Council on Teacher Retirement)

[Opinion]

Text of Comments to IRS on Expansion of IRS Authority Implied in Reporting and Notice Requirements for Deferred Vested Benefits
"The Pension Rights Center [is] concerned that, if implemented, this proposal could allow the Commissioner to issue special rules without notice and opportunity for public comment that could eliminate statutory and other protections important to participants." (Pension Rights Center)

NYSE and NASDAQ Propose Rules on Independence of Compensation Committee Advisers
"NASDAQ is proposing to require listed companies to establish and maintain a formal independent compensation committee, and review and reassess the adequacy of the charter on an annual basis. Currently, NASDAQ listing requirements do not even require NASDAQ-listed companies to maintain a compensation committee, let alone a written charter." (Winston & Strawn LLP)

Benefits Costs Were 30.7 Percent of Total Compensation In June 2012
"Employer-provided benefits costs for civilian workers in private industry and state and local governments in June 2012 averaged $9.39 per hour worked, accounting for 30.7 percent of total compensation costs, which averaged $30.61 per hour worked. The cost of benefits as a percentage of compensation has risen in the past three years from 27.4 percent of total compensation[.]" (Wolters Kluwer Law & Business)

Work 'Til You Drop: Short- and Longer-Term Health Effects of Retirement in Europe
"While the short-term health impact of retirement in Europe remains uncertain, the medium- to long-term effects appear to be negative and economically large." (Institute of Economic Affairs (IEA); Research Institute of Industrial Economics (IFN))

Retention of Records for Employee Benefit Plans: How Long Is Long Enough?
"[T]he First Circuit found that the evidence that some work had been done combined with the lack of sufficient records justified shifting the burden to the employer to prove that it was NOT obligated to make contributions for all hours that potentially constituted work covered by the plan." [Central Pension Fund of Int'l Union of Operating Engineers v. Ray Haluch Gravel Co. (1st Cir., No. 11-1944, 9/12/12)] (Verrill Dana LLP)

Tegrit Group Expands to the Southeast Region
Tegrit Group

Open Enrollment: Employers Up Benefits Participation with Trustnode
Trustnode

Monitoring And Evaluating Your Investment Performance: 10 Of The Best Resources And Tools For Investors
Alliance for Investor Education