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"Aggregation Aggravation - Who's the Employer?" Web Seminar
February 19, 2014 WEBCAST
(SunGard Relius)

"The Zen of Controlled Groups: So What?" Web Seminar
February 20, 2014 WEBCAST
(SunGard Relius)

"403(b) Plans for 401(k) Practitioners" Web Seminar, 3 parts
February 25, 2014 WEBCAST
(SunGard Relius)

2014 Webinar: Understanding and Processing Transfers and Rollovers
March 6, 2014 WEBCAST
(Ascensus)

2014 Webinar: IRA Reporting
March 13, 2014 WEBCAST
(Ascensus)

HIPAA Compliance BootCamp
March 17, 2014 in MI
(Clearwater Compliance)

Final IRS Regulations on Employer Play or Pay: Health Care Reform’s Shared Responsibility Provision
March 20, 2014 WEBCAST
(Thomson Reuters / EBIA)

Case Studies in Ethics: An Interactive Approach
March 25, 2014 in FL
(ASPPA Benefits Council (ABC) of North Florida)

COBRA Compliance for Group Health Plans
April 25, 2014 in CA
(Thomson Reuters / EBIA)

Cross-Testing Techniques and Plan Design
May 1, 2014 WEBCAST
(American Society of Pension Professionals & Actuaries (ASPPA))

Prototype Plans Seminar
May 20, 2014 in MA
(McKay Hochman Co., Inc.)

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Audits of Benefit Plan Financials: What They Are and Are Not
"[T]he main focus of the financial statement audit is on the presentation in the financial statements. One of the assertions underlying a financial statement is that the plan is a qualified plan and thus exempt from income taxes, and in support of that assertion auditors will perform some testing to look at compliance with the plan document and regulations. However, this level of testing is not intended to provide absolute assurance that any deviations would pass the scrutiny of the [IRS or DOL] but rather to identify for the auditor as to whether there is a sign that the plan is so grossly in violation of terms or law that their tax status would be at risk, or that any material misstatements to the financial statements whether due to error or fraud, are identified and reflected appropriately therein." (Porter Wright Morris & Arthur LLP)  

[Advert.]

Southern Retirement Plan Conference, Atlanta GA – April 24-25

Pensions on Peachtree – First-ever collaboration between SunGard's Relius Education and the law firm of Ferenczy + Paul LLP. Sessions cover current developments, plan design, and fiduciary concerns. 15 CE hours, including 2 Ethics. Register online.

Harm Not Required for Plaintiff to Obtain Monetary Relief Under Plan Reformation Theory
"[T]he Second Circuit found that the district court erroneously applied an 'actual harm' requirement. Citing to CIGNA Corp. v. Amara ... wherein the Supreme Court determined that any requirement of harm must come from the law of equity, the Second Circuit found that equity does not demand a showing of 'actual harm' to obtain contract reformation.... Defendants basically read Amara to limit monetary relief to surcharge claims, and claimed that absent a viable surcharge claim the only beneficiaries with standing to pursue reformation would be persons who could prospectively benefit from a modification of plan terms -- something that would not include former employees. The Court rejected that as well, finding such an interpretation supported neither by Amara nor equity." [Osberg v. Foot Locker, No. 13-187-cv (2nd Cir. Feb. 13, 2014)] (Seyfarth Shaw LLP)  

One in Four Older Workers Has No Plan for DC Plan Assets Once Retired
"27 percent of U.S. workers, ages 55-64, say they do not know how they will use their defined contribution (DC) plan savings after they retire. Women are much more likely than men not to have planned how they will use their DC assets (38 percent vs. 19 percent).... two-thirds of workers ages 55-64 planned to make withdrawals - either directly from their DC accounts or after rolling over the assets into an IRA. Only 1 in 6 say they plan to convert some or all of their balance into a guaranteed lifetime income." (LIMRA)  

Comparing De-Risking Strategies from a Contribution Perspective
"[The authors] quantify both the costs and the corresponding risk reduction of two de-risking strategies that can potentially be implemented plan-wide: LDI hibernation and annuity buyouts. Specifically, [they] focus on how these strategies affect the expected size, volatility, and timing of sponsor contributions. Why contributions? Because eventually, the impact of both hibernation (internally implemented) and buyouts (externally implemented) will flow through the sponsor's check-book. Hence the contribution perspective provides a way to compare de-risking strategies from a common vantage point." (NISA Investment Advisors; free registration required)  

New Frontiers of Risk: Revisiting the 360-Degree Investment Manager
"Institutional investors are placing greater emphasis on achieving absolute return targets as opposed to outperforming a market benchmark.... Institutional investors plan to increase their allocations to alternatives over the next five years.... Analytical tools based upon risk-return analysis and performance attribution continue to be the most commonly used to model, analyze and monitor investments.Total plan/enterprise risk reporting tools are on the rise to encompass traditional and alternative investments, as well as liabilities." (BNY Mellon)  

[Advert.]

Are Your Retirement & Health Plans on the Right Track?

45+ expert-led sessions prepare you for the challenges of avoiding ACA's Cadillac Tax, boosting employees' physical & financial well-being, understanding exchanges and more. Earn 15 HRCI recertification credits. Register by February 21 to save $100!

Military Retiree Pay Cut Partially Reversed by Congress
"The Senate cleared [by a vote of 95 to 3] a House-passed measure that would partially reverse changes to cost-of-living adjustments for working-age military retirees. The legislation now goes to President Barack Obama for his signature. Most current service members would see their retirement cost-of-living adjustments restored to the previous level. Only those who joined starting in 2014 would get smaller adjustments." (Bloomberg)  

Risk Mitigation Starts with Retaining Demonstrated Experts
"[To] what extent can a plan sponsor rely on their expert's advice? According to [the D.C. Circuit Court], reliance on an expert is consistent with a fiduciary's obligation to act with loyalty and prudence.... In fact, the court noted that a plan sponsor's reliance on a [covered service provider (CSP)] would be 'improper' if there are 'significant reasons to doubt the course counsel suggested.' This suggests that a plan sponsor should not blindly rely on their CSPs in all circumstances especially when they counsel a plan sponsor about issues they lack expertise in. This is when a plan sponsor is obligated to investigate or seek additional experts depending on the circumstances." [Clark v. Feder Semo and Bard, P.C., No. 12-7092 (D.C. Cir. Jan. 7, 2014)] (FRA PlanTools, LLC)  

When to Surrender an Annuity
"Some insurers that sold products with rich guarantees are trying to dissuade longtime customers from holding on to their contracts. In addition to offering to buy back variable annuities with benefit guarantees, insurers are limiting investment choices, raising fees and blocking additional account contributions. The goal is to limit future payouts on accounts whose balances have tumbled at the same time ultralow interest rates hurt insurers' own investment returns." (The Wall Street Journal; subscription may be required)  

This Glide Path's Too Cold
"In early years, when a participant has opportunity to ride out the market highs and lows ... it's important to assume this risk for the potential of greater earnings, to help overcome shortfall risk. With people living longer and retirement savings needed 20 or more years in retirement, a smaller -- but still meaningful -- allocation to equities near the target date may be necessary for the same reason." (The Principal Blog)  

Retirement Readiness for Priests: What Every Diocese Needs to Know and Do (PDF)
"[D]ioceses are beginning to ask the question: 'Are we providing an adequate monthly benefit through our Priest Pension Plan?' ... [T]he answer requires information and knowledge about many things such as a priest's Social Security benefit, their personal savings, their desired living arrangements in retirement, and part-time work to name a few.... [W]e have built an adequacy model that incorporates each of these elements (and more) to create a holistic look into the retirement of your priests." (Gabriel, Roeder, Smith & Company)  

Nine Charter Schools Fail New CalPERS Entry Test
"CalPERS has denied membership to nine charter schools, saying a proposed IRS rule could end crucial tax advantages if 'even a single non-governmental entity' is allowed into the giant pension system. The California Charter Schools Association ... said [CalPERS] is the only public pension system in the nation to deny membership on the basis of an IRS rule, proposed in 2011, that may still be several years away from final adoption." (Calpensions)  

[Opinion]

Target-Date Funds: A Popular 401(k) Choice, But Still Badly Broken
"There were cheers last week on news that the average balance of Americans' 401(k) accounts had grown to $89,300. That's not enough to retire on. But it's nearly double the average $45,519 that was in those accounts five years ago. The problem is more and more of that money is in funds that do a poor job of insuring those retirement funds will continue to grow, namely so-called target-date funds. About half a trillion dollars are invested in these funds, up from just over $70 billion in the mid-2000s. And much of that money pours in via 401(k) accounts." (Fortune)  

Benefitfocus Achieves Web-Based Entity Certification to Offer Employers a Whole Workforce Solution
Benefitfocus

Segal Group Hires National Communications Practice Leader
The Segal Group

New Survey To Provide Essential Benchmarks For Employers Coping With Health Care Reform Compliance And Cost Management Decisions
United Benefit Advisors

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