Senior Compliance Analyst
for T. Rowe Price in CO

Senior Benefits Specialist - Retirement
for Freeport-McMoRan Copper & Gold Inc. in AZ

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Prep for Compliance Testing Season: Fixing Plan Errors
Nationwide on January 10, 2013 presented by ASC (Actuarial Systems Corporation)

2013 FORUM East, "Making HealthCare Consumerism Work"
Nationwide on May 9, 2013 presented by The Institute for HealthCare Consumerism

2013 FORUM WEST
Nationwide on December 5, 2013 presented by The Institute for HealthCare Consumerism

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Interest in Annuities Is Growing
"Variable annuities continue to be the dominant product sold today, but anticipation is that [deferred income annuities] will be the fastest growing product in 2013, at least on a percentage basis. Annuities are now the most unsolicited products requested by clients, and nearly three in four financial professionals had clients who requested to purchase an annuity over the past year[.]" (PLANADVISER.com)

[Advert.]

Agenda Debut: Health & Benefits Leadership Conference

While other events focus on the administrative & legal aspects, we bring you thought leaders & senior execs at major employers to inspire & give you real solutions to enhance your overall HR strategy. April 22-24. Aria, Las Vegas. BenefitsConf.com

Employer Costs for Defined Benefit and Defined Contribution Retirement Plans
"Private industry employers now spend more per employee hour worked for defined contribution retirement plans (retirement plans that specify the level of employer contributions and place those contributions into individual employee accounts) than for defined benefit retirement plans (plans that provide employees with guaranteed retirement benefits that are based on a benefit formula). March 2012 private industry employer costs for defined contribution plans were 60 cents per employee hour worker, compared to 43 cents for defined benefit plans." (U.S. Bureau of Labor Statistics)

A Fiscal Cliff Compromise Through Alternative CPI?
"From a purely technical standpoint, most analysts agree the alternative CPI measures inflation better than the current index does for most Americans. Whether it is a better measure of inflation for the elderly is less clear." (Brookings)

British Homes Propping Up Pensions
"A survey of 1,000 adults in 12 European countries found that more than a third of Britons planned to use their property to fund their retirement, compared with fewer than a quarter on the continent. French people have increased their estimated retirement age from 60 to 62, while workers in Turkey still believe they can stop work at 55. One in 10 pensioners in Britain has already sold their house or downsized." (The Guernsey Press)

[Opinion]

How Much Is A Public Plan Actuary Worth?
"Having gone through reams of public pension actuarial reports in the last few days to update my drop-dead dates for the largest government plans it is now my considered opinion that the public pension crisis would be far less severe had actuaries never been involved. The public would have a clearer picture of the fiasco had they ball-parked liabilities on their own rather than having these professional proponents of wishful thinking enabling politically convenient practices through a smokescreen of claptrap." (Burypensions)

[Opinion]

Healthcare Sector is Natural Hedge for Pension Funds
"It may be prudent for pension funds to increase their exposure to the healthcare sector. After all, healthcare innovation is the single most important factor increasing human lifespan -- an important variable affecting pension liabilities.... Healthcare is poised to be the most significant growth industry of the century -- one of the few asset classes, if not the only one, that can generate consistently higher returns than the 7-8% modeled by pension funds." (Forbes)

[Opinion]

Pensions for Police and Firefighters Pose Bankruptcy Risk for Small Towns in Illinois
"Overshadowed by the crisis in long-term funding of the state's five pension funds is a similar issue with municipal police and fire pensions. These local pension bills are growing rapidly and consuming a worrisome portion of towns' budgets -- to the point where smaller towns without home-rule authority (those under property tax caps) eventually may face bankruptcy if nothing is done to relieve the burden.... The situation has worsened since 2000, when lawmakers lowered the minimum retirement age to 50 from 55 and OK'd a compounded, 3 percent yearly cost-of-living raise for retirees." (Chicago Sun-Times; free registration required)

Top Ten Myths of 'Say on Pay'
"Some of the factors running through several of the 'Ten Myths' are: Many shareholder say on pay votes FOR or AGAINST, are really votes in favor of or against the recent performance of the company's stock, rather than its compensation package.... [S]ome shareholders are more focused on political issues than stock price performance -- never mind their fiduciary duties.... Anyone who cannot grasp the fact that stock options are performance-based compensation ought to be disqualified from voting[.]" (Winston & Strawn LLP)

Status of Employee Benefits Under DOMA: An Update (PDF)
"Pending the Supreme Court's decision, the application of DOMA in the states of the Second Circuit (Connecticut, New York, and Vermont) is not clear. Although the DOJ will no longer defend DOMA, the law still stands. While it appears that employers in the Second Circuit should continue to impute income for benefits provided to legally married [same-gender] spouses, they must consult with counsel for all the legal implications of the decision." (Buck Consultants)

Be Careful How You Word Your Claims Procedure
"The language of the plan's claims procedure provided as follows: 'In the case of a claim that is not appealed to the Claims Committee in a timely manner by the claimant, the decision of the Claims Administrator shall be the final and conclusive administrative proceeding under the Plan, and the decision of the Claims Administrator shall be given legal deference . . . in any subsequent legal proceeding.' ... According to the court, the provision clearly provided that an adverse claim decision that was not appealed is final and conclusive and the equivalent of an appealed decision. Therefore, the retiree had properly exhausted the plan's claims procedure and could proceed with his action." [Ross v. Weyerhaeuser, No. CIV-11-422-FHS (E.D. Okla., Nov. 27, 2012)] (Leonard, Street and Deinard LLP)