Defined Contribution Plan Analyst (140000XF)
Transamerica
in OH

Business Operations Director - Retirement Services Operations
MassMutual Financial Group
in ANY STATE

Actuarial Analyst
USI Consulting Group
in CT

Client Account Coordinator
USI Consulting Group
in NY

Sales Consultant for Retirement Software
ftwilliam.com Sales - Wolters Kluwer Law & Business
in ANY STATE

Senior Account Manager
Ohio National Financial Services
in OH

ESOP Administrator
Blue Ridge ESOP Associates
in ANY STATE

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Measuring Health Insurance Coverage: Improvements and New Opportunities in the Current Population Survey
September 17, 2014 WEBCAST
(AcademyHealth)

Automate Your Census Collection & More with ASC’s Gemini Web Portal
October 6, 2014 WEBCAST
(ASC)

ACA “ABCs” for 50-99 Employee Companies
October 9, 2014 WEBCAST
(National Association of Professional Employer Organizations [NAPEO])

Defined Benefit Plan Trends in Today's Health Care Market
October 9, 2014 WEBCAST
(American Hospital Association [AHA])

Reinsurance Contribution Submission Process User Group Series
October 15, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

Qualified Plan Participant Disclosures: The Good, The Bad and The Ugly
October 16, 2014 WEBCAST
(ASPPA [American Society of Pension Professionals & Actuaries])

Reinsurance Contribution Submission Process User Group Series
October 21, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

Meeting Today’s Challenges for 401(k) Sponsors
October 22, 2014 WEBCAST
(Mercer)

Reinsurance Contribution Submission Process User Group Series
October 22, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

Health Plans – Plan Sponsor Readiness Check-Up for 2015
October 23, 2014 WEBCAST
(Drinker Biddle & Reath LLP)

Reinsurance Contribution Submission Process User Group Series
October 28, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

On-site Retirement Plan Specialists
October 28, 2014 WEBCAST
(American Hospital Association [AHA])

Reinsurance Contribution Submission Process User Group Series
October 29, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

The Impact of Mergers and Acquisitions on Retirement
November 4, 2014 WEBCAST
(American Hospital Association [AHA])

Reinsurance Contribution Submission Process User Group Series
November 4, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

Reinsurance Contribution Submission Process User Group Series
November 5, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

Reinsurance Contribution Submission Process User Group Series
November 10, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

Reinsurance Contribution Submission Process User Group Series
November 12, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

Reinsurance Contribution Submission Process User Group Series
November 14, 2014 WEBCAST
(Centers for Medicare & Medicaid Services [CMS])

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[Official Guidance]

Text of PBGC Disaster Relief Announcement 14-06 Relating to PBGC Deadlines in Response to Severe Storms and Flooding in Michigan
"A 'Designated Person' is any person responsible for meeting a PBGC deadline (e.g., a plan administrator or contributing sponsor) that is located in the disaster area for which the [IRS] has provided relief in MI-2014-21, Sept. 26, 2014, in connection with filing extensions for Form 5500 series returns ... whose operations are directly affected by the Severe Storms and Flooding that began on August 11, 2014, in Michigan.... The disaster area consists of Macomb, Oakland and Wayne counties." (Pension Benefit Guaranty Corporation [PBGC])  

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[Guidance Overview]

IRS Retirement News for Employers, October 2, 2014 (PDF)
12 pages. Topics include: [1] Starting a plan: Resources to help you compare retirement plans, Tax credit for starting a retirement plan, and SEP plan for 2013; [2] Operating a plan and correcting mistakes: Retirement plan check-up, Retirement plan reporting and disclosure, and Fix-It Guides; [3] Terminating plans: Terminating a retirement plan, Plan termination FAQs, and Partial termination FAQs. (Internal Revenue Service [IRS])  

[Guidance Overview]

IRS Finalizes Cash Balance Regs, Adds More Design Flexibility
"In its proposed rules IRS said that sponsors could, beginning in 2010, adopt ... [what October Three Consulting calls] a ReDB plan design -- a cash balance plan using an interest crediting rate that reflects actual investment returns. This design allows DB plans to provide transparent benefits and stable costs -- features previously available only in DC plans. The new regulations finalize those rules." (October Three Consulting)  

[Guidance Overview]

Tax Prepayment Window Closes on October 31, 2014, for Puerto Rico Retirement Plans
"Plan sponsors who maintain retirement plans qualified in Puerto Rico should consider how they may wish to communicate this option to participants, keeping in mind that time is short, as the window ends on October 31, 2014. Plan sponsors should also make sure that administrators are able to separately track the accounts of participants who have prepaid the tax so that, upon a subsequent distribution, only amounts for which the tax was prepaid are subject to Puerto Rico income tax and withholding." (McDermott Will & Emery)  

Supreme Court Grants Cert in Tibble v. Edison International
"[T]he Supreme Court [had] requested the opinion of the Solicitor General of the United States along with the Department of Labor in asking whether cert should be granted for the two issues that Plaintiffs sought to have heard. The first, regarding the six year statute of limitations found in ERISA was granted after the Solicitor General recommended that the Court take the case[.]" (The Lowenbaum Partnership and FRA PlanTools)  

[Advert.]

Network, Learn and Sell at the SPARK Forum Retirement Industry Conference

Join top record keepers, asset managers, TPAs, advisors, marketing and sales executives for unequaled education and networking. Gain insights into the latest market trends, business strategies, regulatory and legislative issues, and product developments.

Bankruptcy Judge Says CalPERS Pensions Can Be Cut
"[U.S. Bankruptcy Judge Christopher Klein] said during the trial in May that one of his options was ruling on whether CalPERS pensions could be cut without necessarily finding that Stockton pensions should be cut. Part of his analysis ... that CalPERS pensions are not state 'governmental or political powers' protected under federal bankruptcy law is that while state workers are in CalPERS by statute, cities choose to join CalPERS. Klein said California cities have the option of forming their own pension systems, joining a county pension system, hiring a private pension provider or withdrawing from CalPERS, if they can afford to do so. He concluded that benefits not prescribed by state law are not 'governmental or political' powers protected by the federal bankruptcy law, but instead are unprotected 'business powers.'" (Calpensions)  

Does It Matter That the 401(k) Service Provider Is Not a Fiduciary?
"[T]he system as viewed and approved of by the Santomenno court is one in which the actual plan fiduciaries bear financial liability if they don't use the power granted to them by the vendor to police fees and expenses, thereby resulting in excessively high expenses. In that circumstance, the named fiduciary becomes liable for that problem. As a result, even without the service provider being deemed a fiduciary, the system still captures the risks of excessive fees and requires action -- only by the plan sponsor and its appointees rather than by service providers such as John Hancock -- to ensure that the problem is either avoided or remedied." [Santomenno v. John Hancock Life Ins. Co., No. 13-3467 (3d Cir. Sept. 26, 2014)] (Stephen Rosenberg of The Wagner Law Group)  

Steps the 401(k) Fiduciary Can Take to Avoid Poor Plan Design
"Automatic enrollment takes advantage of the 'no action' inertia common among employees. By requiring savers to actively 'opt out' of contributing to the plan, we've seen participation rates nearing 100%.... Sponsors can design plans with a wide assortment of automated alternatives beyond enrollment ... one of the most 'popular' features in the early years of the 401k era -- that of picking from an almost unlimited bounty of mutual fund investment options -- produced the biggest obstacle towards retirement savings." (Fiduciary News)  

Why Small Business Retirement Plans with High Asset Balances Pay More
"The financial services industry is dominated by large corporations that get paid asset-based fees. The more assets they gather, the more they revenue they generate. These firms in turn dominate the financial media. They churn out studies and cost comparisons that invariably reduce cost benchmarking to a percentage of plan assets. And they lump all small business 401k plans together regardless of the nature of the business." (Employee Fiduciary)  

Change in Average 401(k) Account Balances from January 1, 2013 Through October 1, 2014 (PDF)
This report shows change in average account balances grouped by age and tenure, from January 1, 2013 through October 1, 2014, for 'consistent' participants (those who had an account balance as of December 31, 2012). (Employee Benefit Research Institute [EBRI])  

Dedicated Support, Efficient Implementation, and Superior Technology Are the Keys to Successful Retirement Provider and TPA Partnerships (PDF)
"Two-thirds of TPAs (67%) are very satisfied with their primary retirement service provider ('7' or '6' on a 7-point scale), while 11% are very dissatisfied with their primary retirement service provider ('3' or lower on a 7-point scale). Year-to-year the percentage of TPAs rating their overall satisfaction with their primary retirement service provider a '7' or a '6' has remained consistent (68% in 2013); however, there has been a slight erosion in overall satisfaction since 2012 (72%)." (Chatham Partners)  

Funded Status of U.S. Corporate Pensions Falls to 89.9 Percent
"The funded status of the typical U.S. corporate pension plan in September fell 0.2 percentage points, despite liabilities falling 2.6 percent ... Assets for the corporate plans fell 2.7 percent, outpacing the fall in liabilities ... This funded status is now down 5.3 percent from the December 2013 high of 95.2 percent[.]" (BNY Mellon)  

Investors' Bond Binge May Cause DB Accounting Hangovers
"Corporate and treasury rates are up about 15 basis points so far in September, providing a glimmer of optimism that the slide is over. But with real economists saying things like 'market correction' and 'global slowdown,' it is hard for a pretend economist to think of good places outside of U.S. debt for nervous people to invest for the rest of the year. In the meantime, DB plan sponsors are well advised to put the champagne back in the fridge and keep a sober eye on corporate bond rates." (The Principal Blog)  

Major U.S. Pension Buyouts Announced
"The Motorola plan buyout will be the third largest in the United States (following the 2012 pension buyouts by Detroit-based General Motors and New York-based Verizon) -- shifting about $3.1 billion in pension benefit liabilities for 30,000 Motorola retirees to a Prudential group annuity plan. Motorola also is offering to cash out about 32,000 former employees who have not started receiving pension benefits with lump sum benefit payments." (Squire Patton Boggs)  

DOL Releases 2012 Versions of Private Pension Plan Bulletins and Form 5500 Data
See the various links for 2012 under these headings: "Reports," "Excel Tables" and "XML Tables." (Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL])  

Risk-Sharing Alternatives for Pension Plan Design: An Overview and Case Studies
"Pension plan designs range from those that place virtually all of the risk on the plan (and plan sponsor) to those that place all of the risk on the individual covered by the plan. Traditional plans include designs that are at both ends of this spectrum, but there is increasing attention to plans that share risk. This chapter identifies different risks and discusses methods of sharing risk, both traditionally and in recent plan designs." (Pension Research Council, Wharton School of the University of Pennsylvania; free registration required)  

[Opinion]

Will ERISA Be Balkanized? (PDF)
"Despite its success, the private retirement system has in recent years been subject to the criticism that it is not sufficiently accessible to low wage workers, which has resulted in numerous proposals that would establish government-sponsored retirement savings arrangements for private-sector workers.... Each of these initiatives has the potential to reduce support for and diminish the private retirement plan system. Moreover, they all contain features that raise concerns regarding the protection of retirement savings. Perhaps most insidious, they represent the possible Balkanization of fiduciary standards with each parallel system having its own special exceptions from the core duties of prudence and loyalty that are the essence of ERISA." (The Wagner Law Group)  

[Opinion]

The New Fiduciary Debate: It's Time to Be More Specific About What We Mean
"Only a small part of the overall financial services industry believes it is important to protect consumers from potential abuse by those calling themselves financial advisors. The brokerage industry's belated embrace of its own definition of 'fiduciary' is a clever effort to co-opt an argument it cannot win in the court of public opinion, a way to forestall meaningful protections which would erode or destroy its revenue model." (Bob Veres in Inside Information)  

[Opinion]

Text of Comments to Actuarial Standards Board on ASOPs and Public Pension Plan Funding and Accounting (PDF)
"Given the current regulations promulgated by the ASB, GASB, U.S. Treasury, IRS, and state governments, additional guidance with regard to public pension funding is not necessary. Moreover, given the recent changes made to pension benefits by the states and to regulations by the GASB and ASB, further changes may actually hinder plan funding by adding to the regulatory burdens of the actuaries, plan sponsors, and the plans in implementing the changes." (Gabriel Roeder Smith & Company)  

Specific Power of Attorney Needed for Firm's Employees to Dispute Tax Issues Under Circular 230 (PDF)
"Companies that want specific employees to advocate, negotiate or dispute issues with the Internal Revenue Service must provide a Form 2848, Power of Attorney, for that employee, the IRS Office of Professional Responsibility said in new Circular 230 guidance.... Form 2848 must be signed by a duly elected officer or director of the corporation. 'Vanity-titled' corporate officers aren't legally authorized to execute a power of attorney, the IRS said." (Internal Revenue Service [IRS])  

Contractual Time Limitations for Filing ERISA Civil Actions: Why You May Want to Add These Provisions to Your Benefit Claim Denial Letters
"[T]he Moyer decision does not necessarily suggest a changing of the tide on the issue, but does indicate that the Sixth Circuit takes seriously the need to communicate these provisions to participants in at least some manner other than simply including them in the plan document. It is important to note here that the summary plan description for the plan at issue in Moyer did not include the plan-based limitations period for filing a civil action." [Moyer v. Metropolitan Life Ins. Co., No. 13-1396 (6th Cir. Aug. 7, 2014)] (Porter Wright Morris & Arthur LLP)  

DOL Proposal Would Require Electronic Filing of Top Hat Plan Notices
"The [DOL] has proposed to require so-called 'top hat plan notices' to be filed electronically instead of on paper. In so doing, the DOL would move the mechanics of this often-overlooked task into the 21st century. Unfortunately, the proposal does not address certain ambiguities involving the notice that have persisted for the last 40 years." (Dentons)  

2014 ISS Policy Survey Results (PDF)
"A majority of investors (i.e., 60%) expressed concern about the magnitude of CEO pay and how it is determined, even when company performance is strong (e. g., outperforms peer group). Investors who support CEO compensation limits favor, in descending preference, comparisons of CEO pay to median CEO pay at peer companies, the pay of other named executive officers in the proxy statement, or as a percent of corporate earnings or revenue. Unsurprisingly, only a minority of corporate issuers (i.e., 28%) support limits on CEO pay." (Frederic W. Cook & Co., Inc.)  

Dedicated Support, Efficient Implementation, And Superior Technology Are The Keys To Successful Retirement Provider And TPA Partnerships
Chatham Partners, LLC

Announcing the PenChecks Trust 2014 Expert Series
PenChecks, Inc.

Lockton Wellness Program Recognized for Health Improvement, Cost Savings
Lockton

CalPERS Statement: Bankruptcy Court Ruling on Stockton Pensions is Not Legally Binding
CalPERS [California Public Employees' Retirement System]

Northwestern Mutual Offers New Retirement Income Solutions to Navigate Longevity Risk
Northwestern Mutual

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