ASPPA

Relationship Manager I
The Standard
in LA

Plan Administrator
United Retirement Plan Consultants
in ANY STATE

Account Manager (Health and Welfare)
Long Island Employee Benefits Group
in NY

Account Manager
Billings and Company, Inc.
in ANY STATE

Part Time Employee Benefits Attorney
Sony Corporation of America
in NY

Defined Contribution Plan Administrator
N.A. Falcone & Associates, Inc.
in PA

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457 Plans in the Public Sector: History, Evolution and Opportunities
RECORDED
(ASPPA [American Society of Pension Professionals & Actuaries])

Forfeiture Stories for a Late Night Campfire
November 14, 2015 WEBCAST
(ASPPA [American Society of Pension Professionals & Actuaries])

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[Guidance Overview]

GASB Proposes to Amend Governmental Employer Reporting Rules (PDF)
"For plans meeting the criteria of the proposed amendment, pension expenditures should be recognized equal to the employer's required contributions to the pension plan that are associated with the pay periods within the reporting period. A payable should be recognized to the extent it is normally expected to be liquidated with expendable available financial resources[.]" (Groom Law Group)  

[Advert.]

A Revolutionary New Resource.

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The Impact of Downsizing the IRS Determination Letter Program
"What is the determination letter program and what types of retirement plans does it cover? ... What are the proposed changes to the determination letter program? ... Are there particular implication for qualified plans in the M&A context? ... What are the implications for employee benefits professionals such as law firms, in-house counsel, third-party administrators and auditors? ... What should affected parties be doing to prepare for these changes?" (Practical Law Company)  

Four Ways the DOL Is About to Rock Our World
"[1] Brokers will be forced to adapt or vanish.... [2] The independent brokerage channel will be completely altered.... [3] Competition surges for existing fiduciaries.... [4] Pricing transparency and fee compression become the standard." (InvestmentNews)  

Company Stock Can Still Be a Prudent Investment
"A recent court decision put fear in DC plan sponsors about offering company stock in the plan lineup, but it can still be a prudent investment if they keep in mind certain considerations." (PLANSPONSOR)  

Allianz Accused of Self-Dealing in ERISA Class Action
"The complaint calls attention to what the participants deem to be 'excess fees' resulting from the use of the proprietary mutual funds. As an example, the participants said the total plan costs in 2013 were almost $6 million, or 0.77 percent of the plan's $772 million in assets. They allege that this cost is 'outrageously high' for a plan of its size." (Bloomberg BNA)  

[Advert.]

SPARK Forum - November 8-10, 2015 -- The Breakers, Palm Beach, FL

Join us at the retirement services industry's leading event for top marketing, sales, administration and record keeping professionals. Comprehensive agenda to meet the needs of 401(k) Plan Providers, Financial Advisors and Third Party Administrators.

The Complications of Longer Life [Video]
"Good news: We're all living longer. Bad news: Retirement is more complicated. Convincing clients on employers' sponsored plans to work just a little bit longer can help get them an edge on saving. Here's why." (Financial Planning)  

Goldman Says Older U.S. Workers Poised for a Comeback
"Americans are living longer, are less likely to have pension plans, and are in better health further into old age -- yet a long-running uptrend in 55-64 year old labor force participation rates has stalled in the U.S. since 2008, even as it's persisted in most other advanced industrial nations.... What's going on with older workers matters to the broader labor market. As the population ages it's depressing how many people work or are looking for a job." (Bloomberg)  

IRS Releases Priorities for 2016
"In examinations, EP resources will focus on specialty work (i.e., large, multiemployer, and 403(b)/457(b) plans); traditional casework will continue for various plan types (including 401(k)) based on risk assessment. The Employee Plans Compliance Unit (EPCU) will continue 'to identify areas with the greatest potential for non-compliance in plan operation and form' and will open several new compliance checks." (Thomson Reuters / EBIA)  

Central States Rescue Plan: Gut-Wrenching Decisions for All
"[Thomas C. Nyhan, executive director and general counsel of the fund,] said it was 'impossible for me to see a path' for legislation with Republicans in control of Congress 'to appropriate taxpayer dollars to support union pension plans,' but that 'should something like this ever materialize, I guarantee you that we will be the first' in line 'to try to take advantage of it.'... Even if legislative action was realistic, it would likely be too late when viewed from the retirees' perspective. There is speculation that at least one suicide can be attributed to the impending benefit cuts." (Bloomberg BNA)  

Teamster Pensions Go Off Road
"Central States is the poster child for underfunded pension plans. According to the fund's 2014 annual report, it has projected assets of about $17 billion to cover projected liabilities of $35.2 billion. Whereas four workers generated employer contributions that supported one retiree in 1980, today one worker supports five retirees. Executive director Thomas Nyhan said the fund pays $3.46 in benefits for every $1 dollar employers contribute, a pace that is expected to drain the fund within 10 years." (Pittsburgh Post-Gazette)  

Can Social Security Be Solvent?
"Social Security is expected to run short of funds to pay all promised benefits in less than 20 years. However, none of the most popular reform options, including raising the retirement age, cutting cost-of-living adjustments, and raising the cap on earnings covered by Social Security, are enough to permanently close the funding gap without additional changes." (Urban Institute)  

U.S. Continues Decline in Ranking of Global Pension Index
"The U.S. has continued its decline in the most recent ranking of the Melbourne Mercer Global Pension index (MMGPI), slipping from 13th place in 2014 to 14th in the 2015 index ... This drop reflects a continuation from the 2013 ranking, where the US placed 11th among the 25 countries surveyed." (Mercer)  

San Bernardino Judge Wants Look at Pension Costs
"Pension cost cuts seemed unlikely after bankrupt San Bernardino agreed to repay CalPERS for skipped payments and adopted a recovery plan that only cuts bond and retiree health care debt, as in the previous Vallejo and Stockton bankruptcies. Then this month U.S. Bankruptcy Judge Meredith Jury asked for more information showing that if she approves the San Bernardino recovery plan, rising payments to CalPERS will not push the city into a second bankruptcy." (Calpensions)  

[Opinion]

Setting the Record Straight on the DOL's Fiduciary Proposal
"Unsurprisingly, most of Wall Street dislikes the proposal and wishes it would die a quiet death (although noisy and messy would also suffice, if need be). Equally clearly, the opponents can't state their case directly. 'We find it unreasonable and unnecessary to be required to act in our clients' best interests' is not a sentence that will appeal to many on Main Street. The tactic, instead, is to obfuscate." (Morningstar Advisor)  

[Opinion]

Avoiding ERISA's #1 Fiduciary Liability 'Gotcha'
"Some fiduciaries argue that they do not have a duty to evaluate potential investments for a 401k plan using a fund's incremental cost and incremental return data, that simple annual return data and standard deviation data is sufficient.... [T]he question comes down to whether a fiduciary has a duty to determine whether the added incremental cost of the actively managed fund is justifiable based on a simple cost/benefit analysis using a fund's incremental cost and incremental return data[.]" (The Prudent Investment Adviser Rules)  

[Opinion]

AARP Letter to Congress Urging Medicare and Social Security COLA Fix
"If the COLA was based on a measure which more accurately reflected the living expenses of seniors, there would have been a COLA for 2016. Thus, premiums would be $120.70 and the deductible would be about $169. These are still significant increases, but much more manageable increases for seniors. AARP urges Congress to reduce and mitigate the impact of the sudden, sharp increases in the Part B premium and deductible as soon as possible." (AARP)  

Lincoln Financial Group’s Retirement Plan Services Business Celebrates National Save for Retirement Week Oct. 18-24 with Tips for Savers on the Road to Retirement
Lincoln Financial Group

ASPPA Welcomes Joseph Nichols as 48th President
ASPPA [American Society of Pension Professionals & Actuaries]

ASPPA Bestows 2015 Industry Awards
ASPPA [American Society of Pension Professionals & Actuaries]

Prudential Supports National Retirement Security Week with Innovative Tools, Resources to help Americans Plan for a Secure Retirement
Prudential Financial, Inc.

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