Committed to Outcomes

Retirement Plan Administrator
NestEggs, Inc.
in FL

5500 Specialist
Plante Moran
in MI

Plan Implementation Manager
Aspire Financial Services LLC
in FL

Valuation Analyst
United Retirement Plan Consultants
in RI

Senior Financial Consultant
Arthur J. Gallagher & Co.
in TX

Retirement Services Associate
The Benefit Practice
in CT, FL

Benefit Administrator I
GuideStone Financial Resources
in TX

Retirement Account Representative
GuideStone Financial Resources
in TX

Post Your Job

View All Jobs

RSS Feed: All Jobs

2015 ASPPA Virtual Conference
RECORDED
(ASPPA [American Society of Pension Professionals & Actuaries])

Saving: America’s Challenge and Opportunity in The Twenty-First Century
November 3, 2015 in IL
(WISER [Women’s Institute for a Secure Retirement])

Current Pension Risk Management Strategies
November 19, 2015 in NY
(Worldwide Employee Benefits Network [WEB] - New York Chapter)

View All Webcasts and Conferences

[Official Guidance]

PBGC Publishes Performance Data
"[F]ive new data sets [have been added to the PBGC] Open Government webpage: ... [1] PBGC Appeals Board Data -- This spreadsheet shows the number of appeals opened and closed, average number of days to close an appeal, percent of appeals with a decision change, and current number of appeals for FY 2010 through 2014.... [2] PBGC Customer Satisfaction -- This spreadsheet contains a graphical depiction of PBGC's customer satisfaction index for FY 2013 and 2014.... [3] Annual Performance Report Summary of PBGC Measures and Activities ... and [4] PBGC FOIA Requests." (Pension Benefit Guaranty Corporation [PBGC])  

[Advert.]

Are you making payments to dead people?

See how Fred stopped making payments to deceased participants using PBI's PlatinumPLUS solution with ObitPro! Contact us today for a 30 day NO CHARGE TRIAL. Call 415-482-9611 or email inquiry@pbinfo.com today ... you won't believe what you're missing!

Litigation's Legacy Is Improved Plan Document Design
"There is more and more a focus in plan draftsmanship on including terms that could limit, either substantively or tactically, the ability of participants or beneficiaries to successfully bring suit, such as the increased use of contractual limitations periods and venue selection clauses, which are both issues that have garnered the attention, to varying degrees, of the Supreme Court.... [P]laintiffs' successes in ERISA litigation over the recent past have really driven plan sponsors and their lawyers to think proactively about what they can do, in writing their plans, to raise the level of difficulty for plaintiffs and their lawyers in ERISA litigation." (Fiduciary News)  

Employers are Taking Action to Help Workers Close the Retirement Savings Gap
"42 percent of companies match dollar-for-dollar, up from 31 percent in 2013. Before 2013, $0.50 per $1.00 was the most common formula.... 52 percent automatically enroll workers at a savings rate of 4 percent or more, up from 39 percent of employers in 2013. 51 percent default workers at or above the company match threshold, nearly 10 percentage points higher than in 2013." (Aon Hewitt)  

Most 401(k) Investors Want Fiduciary Advisers
"Almost nine out of 10 retirement investors said it's very important (69 percent) or somewhat important (18 percent) to work with a financial adviser who is legally required to take on fiduciary responsibility[.]" (Bloomberg BNA)  

Defined Benefit Plan Entropy: Changes in Stocks, Bonds, PBGC Premiums
"Absent significant investment return and rise in interest rates, plan contribution requirements are likely to increase in the coming years. In combination with sound credit balance management, larger contributions now will reduce sticker shock later and help smooth minimum funding requirement increases.... Plans subject to the PBGC's variable rate premium (without regard to the variable rate cap) can effectively earn a 2.9% return on every dollar contributed to the plan via a reduction in the following plan year's PBGC premium payment.... Exceeding certain funding thresholds provides plan sponsors with more options as it pertains to the targeted management of plan cost increases, including lump sum windows and annuity purchase settlements." (Summit)  

A Personal History of the Defined Benefit Plan (PDF)
"The future is likely to be different from what we can expect (ask any actuary!), but the likelihood is that there will be a role for actuaries in the DB world for quite a while. In addition, the supply of actuaries is likely to shrink as those who grew up with ERISA ride off into the actuarial sunset. No profession is a guarantee of employment and prosperity, so flexibility and adaptability are essential if you decide to be a DB actuary." (Richard Berger in the Actuary, a publication of the Society of Actuaries)  

Investment Adviser Penalized $15M for Failing to Diversify
"A novel approach to determining damages owed by an investment adviser to two defined contribution retirement plans in an ERISA fiduciary-duty breach was part of a decision including a $15 million reimbursement request handed down recently by a New York federal judge.... WPN Corp., was ordered by the judge in part to pay $9.6 million to compensate for the amount the court determined plan holders at the former steel manufacturer, Severstal Wheeling, lost by following the firm's investment recommendations. WPN advised the Severstal Retirement Committee to invest the plans' $38 million assets in a narrowly concentrated basket of energy-sector stocks, and in 2009 liquidated the equities and proposed other high-risk investments." [Severstal Wheeling, Inc. v. WPN Corp., No. 10CV954 (S.D.N.Y. Aug. 10, 2015)] (Thompson SmartHR Manager)  

The Case for Flexible Retirement Planning
"This paper examines the importance of the volatility of investment returns and the uncertainty of remaining lifespan in retirement planning. These factors cause the unnecessary sacrifice of higher withdrawals to reduce the probability of exhausting the retirement portfolio before death (portfolio ruin) if withdrawal rates are constant. Flexible retirement planning, characterized by withdrawal rate adjustments in response to unexpected portfolio performance or changes in expected remaining life, reduces the withdrawal rate sacrifice of probability-of-ruin protection." (The Journal of Personal Finance, via SSRN)  

[Opinion]

Five Reasons Why Traditional Pensions Are Still the Best Way to Provide Retirement Security
"[1] Defined benefit plans guarantee a reliable retirement benefit for life.... [2] Defined benefit plans pool risks, are professionally managed, and yield the best returns.... [3] Defined benefit plans can absorb market fluctuations.... [4] Defined benefit plans attract and retain people who are committed to the long-term success of their employer.... [5] Defined benefit plans are the most cost-effective retirement savings method available." (Bailey Childers, Executive Director of the National Public Pension Coalition, via The Huffington Post)  

Costly Penalties Emphasize Importance of Providing Plan Documents Upon Request
"The court imposed the maximum penalty of $110 per day (for 674 days) ... The court specifically rejected the plan administrator's arguments that: [1] The plan document was unnecessary because the SPD contained all of the relevant terms; [2] The penalty should not apply because the plaintiff was not prejudiced by the plan's failure to provide the documents; [3] The penalty should not apply because the plan administrator acted in good faith; and [4] The penalty for not providing the insurance policy should have stopped accruing when the plaintiff obtained a copy of the policy from the insurance company." [Harris-Frye v. United of Omaha Life Ins. Co., No. 1:14-cv-72 (E.D. Tenn. Sept. 21, 2015)] (Mazursky Constantine LLC)  

Six in 10 Workers Say Health Insurance Costs Directly Affect How Much They Save for Retirement
"59 percent of workers agree or strongly agree that what they pay for medical/health insurance benefits directly affects how much they will put aside for retirement.... While 95 percent of employees say financial literacy is important, only 28 percent are very confident in their ability to make important financial decisions." (LIMRA)  

SageView Advisory Group Continues to Expand in Honolulu with Industry Veteran David Lum
SageView Advisory Group

ERISA Compliant Electronic Document Distribution and Tracking System Introduced
Virtual Management Systems

vWise Announces Retirement Plan Engagement Platform
vWise Inc.

Enrollment Advisors Acquires HighRoads Division
Enrollment Advisors

Clearwater Compliance Designated as the United States Air Force’s Sole Provider of Risk Analysis Software
Clearwater Compliance

View All Press Releases