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Employee Benefits Jobs
Retirement Plan Administrator
Pinnacle Plan Design, LLC
in AZ
Data Conversion Specialist - Client Integration
Transamerica
in NY
Benefits Consultant, Small Group (2-9)
Northwestern Benefit Corporation of Georgia
in GA
Part Time On Call Retirement Planning Consultant
Transamerica Retirement Solutions
in AR, CA, HI, IL, MI, MO, NJ, NY, TN, TX, UT
Senior Defined Contribution Consultant
Aon
in ANY STATE, CT, GA, IL, NJ, NY, TX
Regional Pension Sales Manager
Nationwide Retirement Services
in VA
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Webcasts and Conferences
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[Official Guidance]
2015 IRS Form 5498 (Draft): IRA Contribution Information (PDF)
"The information on Form 5498 is submitted to the Internal Revenue Service by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, required minimum distributions (RMDs), and the fair market value (FMV) of the account. For information about IRAs, see Pubs. 590 and 560."
(Internal Revenue Service [IRS])
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[Guidance Overview]
IRS Permits Puerto Rico-Qualified Plans in U.S. Group Trusts, Extends Deadline for Certain Puerto Rico Spin-Offs
"Revenue Ruling 2014-24 now makes it clear that Puerto Rico-only plans may continue to pool assets with U.S.-qualified plans in group trusts now and in the future. The ruling provides certainty for Puerto Rico plan sponsors who may continue to invest plan assets in group trusts and seek out new group trust investment options. The rule also provides certainty for institutional investors and trustees, who may now continue to permit Puerto Rico-only plans to participate in U.S. group trusts and not face potential disqualification of the participating U.S. plans and trusts. The ruling will make it easier for plan sponsors to continue to maintain or establish Puerto Rico-only plans and avoid the administrative and tax complications that can result from having a
dual-qualified plan."
(McDermott Will & Emery)
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PBGC Issues Guidance on HATFA's Effect on 4010 Reporting
"In some cases, a filer may no longer be required to submit the actuarial valuation report or the 4010 filing for the next information year because of the retroactive application of HATFA. These filers are not required to submit the actuarial valuation report or an explanation of why the 4010 filing is not required."
(Practical Law Company)
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Plaintiffs' Attorney Jerry Schlichter Describes How 401(k) Plan Sponsors Can Avoid a Fiduciary Breach
"The sponsor first and foremost must always act with the strict guide that what it does must be based on the standard of one familiar with industry practices, investment management, and financial matters, while acting solely in the interests of plan participants. Following that principle answers many questions that arise. Clearly, sponsors must carefully monitor the performance of advisers and independently determine whether their advice is sound and based on prudent standards. They should never get so locked into a particular adviser, or into a broader business relationship with that adviser and its organization, that they don't question his or her advice."
(Fiduciary News)
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How to Lower 401(k) Costs in a Buyer's Market
"With the growth of online investment education resources -- and the explosion in the use of target-date funds -- the traditional service model is less effective and more expensive than the new alternatives. Savvy plan sponsors are choosing specialized advisory services to meet specific plan objectives as needed, saving money on underused services, and providing a better benefit to employees.... For most small business plans, the simplest solution is to hire an ERISA Section 3(38) professional financial adviser."
(MarketWatch)
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A Look at Private-Sector Retirement Plan Income After ERISA, 2013 (PDF)
16 pages. "In 2013, 33 percent of retirees received private-sector retirement plan income -- either directly or through a spouse -- compared with 21 percent in 1975.... The share of workers with access to pension plans at their current employers has been substantial and fairly steady since 1979 ... In 1975, when nearly 90 percent of private-sector workers with retirement plans were covered by DB pension plans, only about one in five retirees received any income from private-sector retirement plans." [Also available: Supplemental Tables, in XLS format.]
(Investment Company Institute [ICI])
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DB to DC Shift Has Not Reduced Retirement Income
"The median income received by those with private-sector retirement plan income was approximately $6,600 in 2013, compared to about $4,900 in 1975 (in 2013 dollars).... The share of retirees receiving private-sector pension income increased by more than 50% between 1975 and 1991 and has remained fairly steady since[.]"
(planadviser)
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Can Public Sector Defined Benefit Plans Survive?
"Despite many politicos' vow to introduce extensive reforms that will address the needs of state and local pension plans, the switch from defined benefit to defined contribution might now be irreversible based on one key figure: The average funded ratio of public pension systems has dropped from 90% in 2004 to 71% in 2013.... According to Census Bureau data, in 2012 there were about 4,000 state and local government public employee retirement systems, with approximately 19.6 million active and inactive members. But retirees were 9 million. At that rate, with almost one-third of the public worker population inactive or receiving benefits and with Baby Boomers ready to retire as well, public pension systems will come under tremendous pressure."
(Money Management Intelligence)
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A New Trend in Reducing Public Pension Obligations Under the Federal Bankruptcy Code?
"When the [Stockton Chapter 9 bankruptcy] plan confirmation trial continues ... the court likely will consider the following questions, among others: Is the city permitted to continue paying pension benefits in full? Can the city prefer its employees and retirees over other creditors by offering a higher rate of recovery? In other words, does Stockton's plan meet the Bankruptcy Code's confirmation requirements, including that the plan [1] is proposed in good faith and in the best interest of creditors, and [2] properly groups together similar claims and does not unfairly discriminate against certain creditors?"
(Pepper Hamilton LLP)
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Benefits in General; Executive Compensation
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2015 Marketplace Forecast for North American Insurance Buyers
"In the Employee Benefits space, Willis predicts rate increases holding at 5-6% for organizations with self-insured plans and 9.5-10.5% for insured plans. Possible cost savings from marketplace options such as public and private exchanges are balanced for the moment by the steadily rising cost of treating widespread chronic disease conditions, increased costs and prevalence of specialty drugs and expenses associated with health care reform."
(Willis)
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FASB Puts Stock-Based Compensation on Its Agenda
"[FASB] will address technical issues involving stock compensation such as accounting for income taxes on vesting or settlement of awards, and the related presentation of excess tax benefits on the statement of cash flows. The FASB's tentative positions, if finalized, could significantly ease some of the complex accounting requirements for companies that pay stock-based compensation ... A separate but related project that FASB added to its agenda will address potential improvements to accounting for share-based payments to non-employees operating as contractors."
(Society for Human Resource Management [SHRM])
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M&A Snapshot: Retention Awards at Acquired Companies (PDF)
"[The authors] looked at U.S.-based public companies involved in 181 acquisitions with a transaction value greater than $1 billion between the beginning of 2010 and the end of March 2014.... [The] review identified 69 companies (39% of all acquired companies during this period) that offered some form of retention award to employees and/or executives prior to the close of the deal.... While primarily made in cash, award designs vary from broad-based programs to single awards made to one or more executives heavily involved in the transaction or key to the success of the business. Many companies used a maximum bonus pool from which to make grants, while other awards were determined on an individual basis."
(Towers Watson)
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ISS's New Approach to Equity is Better and Worse
"[W]hat was once a beautifully simple and critically flawed up or down vote is now a beautifully complex and differently flawed scorecard ... Overall, the better aspect is that the approach is less didactic than it has recently been. This means a bit more wiggle room to shape your company's approach to suit your objectives. Frustratingly, the things that make this better also make it worse."
(Performensation)
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Press Releases
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David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager
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