ASPPA

Pension Administrator
GF Pension Corp.
in PA

Retirement Relationship Manager
Alerus Retirement Solutions
in MI

Pension Administrator
Associated Pension Consultants
in CA

Sr. Benefits Consultant - Retirement
Baylor Scott & White Health
in TX

Defined Contribution Analyst - Entry Level, Temp assignment
Milliman
in OR

Senior Pension Administrator
Pelion Actuarial Services, Inc. (TKC Division)
in CA

Manager, Plan Documents
TIAA CREF
in NC

Group Director, Account Management - Employee Benefits
Corporate Synergies Group, LLC
in MD

Employee Benefits Sr. Consultant
Plante Moran
in MI

Retirement Services Assistant
Jordan & Associates Retirement Services
in CA

Vice President of Retirement Plan Administration
Invisor Solutions
in KS

Manager, Recordkeeping
First Merchants Bank
in IN

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Building Blocks for Powerful Wellness Leadership
February 17, 2015 WEBCAST
(myInertia LLC)

FMLA Master Class: Overcome Compliance and Employee Leave Challenges
February 25, 2015 in PA
(Saul Ewing LLP)

Value-Based Insurance Design: Changing the Health Care Discussion From How Much to How Well
February 25, 2015 WEBCAST
(Worldwide Employee Benefits Network [WEB])

Pension Plan Investments 2015: Current Perspectives
March 31, 2015 WEBCAST
(Practising Law Institute)

2016 Enrolled Actuaries Meeting
April 10, 2016 in WA
(Conference of Consulting Actuaries)

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[Guidance Overview]

A Look at the Multiemployer Pension Reform Act of 2014 (PDF)
"Unless otherwise specified, the new provisions will go into effect for plan years beginning after December 31, 2014. This review is based on our current understanding of the MEPRA provisions, which could change after the IRS publishes regulations or other specific guidance. MEPRA provisions that apply to all multiemployer plans are discussed first, followed by provisions that impact plans depending on their Pension Protection Act (PPA) zone status (green zone or endangered status, endangered status, endangered and critical status, and critical status)." (Milliman)  

[Advert.]

P&I 2015 DC East | March 1 – 3 | Trump National Doral, Miami

Learn from experts in the fields of investments, plan design, and communications who will offer time-tested strategies to help you succeed in your efforts to improve your plan and provide an adequate retirement income for your plan's participants.

[Guidance Overview]

DOL Final Rule Implements Annual Funding Notice Requirement for DB Plans
"With respect to specific funding information disclosed in the notice, the Final Rule is substantially similar to the DOL's November 2010 proposed rule. The Final Rule also includes model annual funding notices for single-employer and multiemployer pension plans.... The preamble to the Final Rule does not address the MAP-21 and HATFA supplemental disclosures because they are temporary and have no effect on the permanent disclosure requirements in ERISA Section 101(f). Instead, plan administrators may rely on FAB 2013-01 and FAB 2015-01 or any other guidance issued by the DOL under ERISA Section 101(f) until their expiration date." (Practical Law Company)  

De-Risking Strategies Still Making Headlines (PDF)
"Two popular methods of de-risking, purchase of annuities without terminating the plan and lump-sum cashout windows for former participants, have [made] headlines recently: [1] the federal court in Texas issued a favorable ruling in support of Verizon's purchase of annuities to provide for the pension benefits; and [2] the Internal Revenue Service has issued another line of private letter rulings permitting lump-sum cashout windows for retirees." (Groom Law Group, via Journal of Pension Benefits)  

Frozen DB Plans Become High Maintenance Items
"Take the example of a frozen pension plan covering 50 participants that is $500,000 underfunded. This employer will see their PBGC premiums increase from $6,600 in 2013, to $9,450 in 2014, to $14,850 this year, and to $14,850 next year -- [a] 168% increase in 4 years.... [T]he new set of mortality tables could significantly increase pension liabilities.... Projections ... indicate that [1] Plan liabilities could increase 6% to 8%, and [2] Depending on participant age and retirement date, lump sum distributions could increase from 7% to 15%." (The Retirement Plan Blog)  

Overview of Retirement Savings Provisions in 2016 Proposed Federal Budget
"[This article] is a general overview of the budget items that would, if enacted, have an impact on tax-preferred savings vehicles, including IRAs and employer-sponsored retirement plans. These and other provisions of the administration's 2016 budget are only proposals at this time. It is yet to be seen if any of the proposals find their way into legislation." (Ascensus)  

[Advert.]

Save $100 on Top-Rated Benefits Conference

San Diego, Mar. 8-11. Choose from 45+ educational sessions on improving employee financial & physical well-being, complying with ERISA, ACA and more. 99% of past attendees agree -- it's time and money well spent! Register by Feb. 13; use code BENL.

Navigating Retirement Risks: Longevity and Volatile Markets
"Timing risk arises when a retiree takes withdrawals -- to pay living expenses in retirement -- from a portfolio that is declining in value ... The withdrawals in down markets have the effect of locking in losses, because the losses on the withdrawn money can never be recovered.... Unfortunately, when we retire we won't know whether the markets over the next 5 or 10 years will be up or down. This emphasizes the need to dampen volatility while investing to capture market returns." (Drinker Biddle)  

For Some 3M Retirees, Crowdsourcing Is Key to Pension Decision
"In the DIY financial planning world, online forums allow strangers to offer back-of-the-envelope calculations and opinions ranging from sober advice to conspiracy theories and warnings of a global economic collapse. But individual participants also take away what they want." (StarTribune)  

An Overview of Recent Public Pension Plan Developments (PDF)
"[This article examines] legal challenges to pension reform passed by the state of New Hampshire, state of Illinois, and city of Atlanta; how Detroit's art collection enabled the bankrupt city to drastically reduce pension cuts; and the treatment of pension debt in two California municipal bankruptcy proceeding." (Buck Consultants at Xerox)  

SSA OIG Audit Report: Excess Withholding of Government Pension Offset (PDF)
"Based on our random sample, we estimate that SSA improperly paid 1,013 beneficiaries approximately $12.4 million in spousal benefits and had not verified and updated pension or GPO amounts on the MBR for 5,768 spousal beneficiaries. We also estimate that SSA will improperly pay the 1,013 spousal beneficiaries about $2.5 million, annually unless it takes action to identify and correct these payments errors. Finally, 92 percent of the spousal beneficiaries with improper payments we identified were due underpayments SSA had not paid them." (Office of the Inspector General, Social Security Administration)  

[Advert.]

6th Annual Financial Advisor Retirement Symposium - April 1-2, 2015

The editors of Financial Advisor and Private Wealth magazines bring together industry experts to share insights and strategies on retirement at a conference that promises to energize advisors with new practice-building ideas. BenefitsLink Discount.

Kentucky Treasurer Proposes State-Run Retirement Program for Private Employees
"As proposed, the KYRA bill, an acronym for Kentucky Retirement Account, would be a privately administered fund along the lines of the Kentucky Deferred Compensation system for public employees ... [If] the plan is enacted, the treasurer and governor would appoint a board to oversee the program and issue a request for proposal for a third-party administrator, such as an investment firm or bank. That administrator would then pool funds invested by workers through payroll deductions or other means. It would take about two years to implement the program." (The Business Journals)  

[Opinion]

Will Deflation Decimate Pensions?
"[D]eclining rates are the primary driver of pension liabilities, especially when rates are at historic lows.... [T]he duration of liabilities is a lot higher than duration of assets which means when rates are ultra low, a decline in bond yields disproportionately impacts pension deficits. But wait, won't the Fed save the day by hiking interest rates later this year? ... [If] it does make such a monumental mistake, it will bring about an epochal deflationary crisis, which means rates will go lower and stay low for a prolonged period, ensuring the destruction of many underfunded public and private pensions." (Pension Pulse)  

[Opinion]

President's 2016 Budget Sends Mixed Messages on Retirement Planning
"[W]hat is surprising about President Obama's Fiscal Year 2016 Budget is the lack of a cohesive position on retirement planning.... [T]he 2016 Budget includes language supporting the enhancement and protection of Social Security retirement benefits, broader retirement plan coverage, and increased savings opportunities, but at the same time takes aim at limiting savings opportunities through IRAs, Roth IRAs, and qualified plans, such as your employer-provided 401(k) plan." (Jamie Hopkins, in Forbes)  

[Opinion]

Groundhog Day (as in the Movie) for Proposed National Retirement Policy?
"The 2016 budget proposal ... resurrects the notion of imposing a reduction on the value of itemized deductions to 28% -- including retirement contributions, and the imposition of a retirement savings cap.... [P]erhaps the thing most troubling about [these] two proposals in particular is that they reveal a basic misunderstanding about the interrelationship between the incentives to employers to offer these programs, and the existence and expansion of these plans. In sum, they don't appear to understand that if you diminish the incentives to employers of participating in workplace retirement plans, you'll likely see fewer retirement plans in the workplace." (Nevin Adams, for American Society of Pension Professionals & Actuaries [ASPPA])  

Errors on Your Form 5500 Can Lead to an IRS Audit
"Read each item and then read the instructions for that line. Don't assume you know what information is being requested. Do not copy information from the prior year's 5500 without first reviewing each item carefully to ensure you didn't put information in the wrong box, leave an entry blank that should have information, or use an incorrect code. If you rely on a third party to prepare the 5500, carefully review it before submitting it. Consult with a benefits professional to institute sufficient administrative procedures to prevent mistakes on the 5500 and other informational returns." (Benefits Bryan Cave)  

Ninth Circuit Says Beneficiary Designation Forms Are Not Plan Documents
"[T]he Ninth Circuit disagreed that the designation forms constituted plan documents, finding that only documents that 'provide information as to where the participant stands with respect to the plan' -- for example, guidance regarding plan benefits -- could constitute plan documents, and that the designation forms, which provided no such information, were not plan documents." [Becker (plaintiff in interpleader) and Mays-Williams v. Williams, No. 13-35069 (9th Cir. Jan. 28, 2015)] (Paul Hastings LLP)  

Executive Comp Clawbacks: 2014 Proxy Disclosure Study (PDF)
"This study presents [an] analysis of the compensation recoupment or 'clawback' policies of 100 large public companies as disclosed between 2009 and 2013 in their year-end proxies.... While more and more clawback provisions are being added to compensation arrangements, it remains relatively uncommon to see them exercised. There have only been a few high profile cases in recent years. It is not clear whether this is due to a lack of enforcement (by choice or due to of the difficulties with enforcement by the company) or the absence of conduct that would trigger a clawback." (PricewaterhouseCoopers)  

The Principal Adds Qualified Longevity Annuity Contract Status to Deferred Income Annuity
Principal Financial Group

American Psychiatric Foundation Launches New ICU Program to Support Workers’ Emotional Health
American Psychiatric Foundation

Veteran Benefits & Compensation Lawyer Jeffrey Bauer Joins Dorsey
Dorsey & Whitney LLP

Announcing the Launch of ERISApedia.com
Burrmont Compliance Labs LLC

Northern Trust’s Defined Contribution Servicing On Rise
Northern Trust

U.S. Labor Department Files Suit to Recover More Than $26K for Participants of Aware Environmental Inc. Retirement Plan in North Carolina
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Securities and Exchange Commission Names David Grim as Acting Director of the Division of Investment Management
Securities and Exchange Commission

Executive Compensation Attorney Benjamin D. Panter Joins the Chicago Office of McDonald Hopkins
McDonald Hopkins

Rallying around Consumers: Rally Health Launches New Digital Engagement Solution
Rally Health, Inc.

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