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BenefitsLink Retirement Plans Newsletter

December 26, 2013          Get Health & Welfare News  |  Advertise
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Upgrade Your Retirement Plan Governance in 2014
"The DOL has been suggesting with some frequency that plans should engage in fiduciary training. At this time, there is no legal mandate for fiduciary training.... Plan administrative committees should make it part of their usual meeting routine to have periodic education and updating about their fiduciary duties.... Fiduciaries need to appreciate that ERISA liability is personal.... Here are 25 additional suggestions ... to improve your plan governance as we head into next year[.]" (Benefits Bryan Cave)  


ASPPA On Tour -- Coming to a City Near You!

Sponsored by ASPPA

ASPPA on Tour is the ultimate conference experience for retirement plan professionals. With the perfect balance of national and regional content, each of our five stops will stimulate, motivate and challenge you. Registration for LA is now open!

A Flexible 401(k) for the Solo Entrepreneur
"With a gradually improving economy, more small-business owners may be in a position to defer income this year and next. If you're wondering how to lower your self-employment tax bill, consider a one-participant 401(k) plan, better known as a 'solo 401(k),' a flexible retirement vehicle with a plethora of advantages to solo entrepreneurs." (Motley Fool)  

San Jose Pension Ruling Delays Day of Reckoning
"'Unfortunately, the judge's decision to invalidate certain portions of Measure B also highlights the fact that current California law provides cities, counties and other government agencies with very little flexibility in controlling their retirement costs,' [San Jose mayor Chuck] Reed said in a statement. And the ruling made clear why San Jose felt the need to reduce benefits in the first place." (San Diego Union-Tribune)  

Owning Deferred Annuities in Trusts and Preserving Tax-Deferral Treatment
"Perhaps the most confusing situation is when an annuity is transferred to an Intentionally Defective Grantor Trust (IDGT), which is a grantor trust for income tax purposes but outside of the individual's estate for gift and estate tax purposes. While some have contended that the transfer of the annuity to the IDGT should not trigger taxation upon transfer ... it's difficult to claim that the annuity was not 'a transfer without full and adequate consideration' when the grantor has to file a gift tax return to report the transfer in the first place!" (Michael Kitces in Nerd's Eye View)  

What Market Highs Mean for Your Retirement Money
"The action the market highs should trigger is the action of re-evaluating your goals and seeing if you are in position to achieve them. The answer to that question should drive your portfolio decisions." (U.S.News & World Report)  

Retirement Advice for the Bull Market
"Hesitate and triple check your reasoning before increasing equity allocations.... Write down any valid investment rules, and stick with them no matter what the market does.... Find other ways to reduce risk.... Contribute the maximum allowed amount to retirement accounts." (U.S.News & World Report)  

China Confronts Workforce Drop With Retirement-Age Delay
"China plans to raise the retirement age for the first time since the 1950s, as policy makers confront the prospect of a shrinking workforce that damps economic growth. The age will rise gradually .... China's compulsory retirement ages, now 50 for most women and 60 for men, are likely in 2020 to be about five years higher than they are now[.]" (Bloomberg)  

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