BenefitsLink
Retirement Plans
Newsletter
Retirement Plans
Newsletter
January 11, 2007
Sponsored by: International Foundation of Employee Benefit Plans
(Click on company name or banner to learn more.)
Globalization of nearly all industries is heating up, and the International Foundation is ready with more educational opportunities. The popular Certificate in Global Benefits Management program will be offered three times in 2007, covering the East and West coasts, as well as central U.S. The new Certificate in BRIC (Brazil, Russia, India, China) global course zeros in on what it takes to attract, retain and engage employees in countries experiencing exponential growth. Sign up today, as these courses sell out quickly!
Text of IRS Notice 2007-7: Guidance on Several PPA Distribution Provisions, Including Rollovers (PDF)
16 pages. The notice addresses many PPA provisions, including interest rate assumptions for lump sum distributions; hardship distributions from 401(k) and similar plans; early distributions to terminated public safety employees; rollovers from qualified plans to IRAs for non-spouse beneficiaries; distributions to pay for health insurance for retired public safety officers; earlier vesting of certain employer contributions; and new rules for the notice; consent period for distributions; more. (Internal Revenue Service)
Regulators Issue Post-PPA Distribution Guidance
Excerpt: "Regulators [yesterday] released guidance on how to properly implement new Pension Protection Act (PPA) rules governing a variety of qualified plan distributions. According to a news release from the US Treasury Department and the Internal Revenue Service (IRS), Notice 2007-7 presents a series of PPA provisions and explains in question-and-answer format how certain plan payments will be treated for tax purposes." (PLANSPONSOR.com; free registration required)
Congress Goes After Retirement Plan Fees
Excerpt: "Joined by the Labor Department, Rep. George Miller will spearhead a move toward broader disclosure." (Pensions & Investments via Workforce Management; free registration required)
Presentation: The Employee Stock Ownership Plan -- Is It a Good Idea? (PDF)
30 pages. Excerpt: "This Presentation has been prepared to provide general information on the ESOP structures and transactions completed involving, among other things, private equity firms and ESOPs." (Morgan, Lewis & Bockius LLP)
401(k) Education Efforts Target Minorities: Redefining Retirement with an Eye to Cultural Diversity
Excerpt: "[A] new trend is emerging: Multicultural marketing of 401(k) plans. Andres Tapia, chief diversity officer at Illinois-based consultancy Hewitt Associates, argues that to increase 401(k) participation rates among people of color - especially African Americans and Latinos - plan sponsors and employers need to understand how each group perceives retirement and the future." (Employee Benefit News)
The IRS 401(k) Resource Guide for Plan Sponsors -- General Distribution Rules
Excerpt: "Generally, distributions of elective deferrals cannot be made until one of the following occurs: The participant dies, becomes disabled, or otherwise has a severance from employment. The plan terminates and no successor defined contribution plan is established or maintained by the employer. The participant reaches age 59? or incurs a financial hardship." (Internal Revenue Service)
Analysis of Public Employee Retirement Systems in California by The Center for Government Analysis (PDF)
159 pages. Excerpt: "The report analyzes the finances of most of the public employee retirement systems in the state of California. Particular attention is given to the two major public employee retirement systems in California, CalPERS . . . and CalSTRS . . ., and to other selected major independent public retirement systems in the state. The report focuses on the overall actuarial status of these public retirement systems, and on the cash inflows and payouts." (Howard Jarvis Taxpayers Foundation)
Overview: IRS's Transitional Guidance for Hybrid Plans
Excerpt: "The PPA established -- prospectively -- that hybrid plans are not inherently age-discriminatory and imposed new rules on hybrid plan conversions, benefit accruals and benefit payouts. This guidance is the first interpretation of those new restrictions and provisions by government regulators." (Watson Wyatt Worldwide)
Hewitt Federal Legislation Quick Guide Updated as of January 9, 2007, for Retirement Plans (PDF)
1 page. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding retirement plans. (Hewitt Associates)
Working Paper Abstract: Immigration and the Survival of Social Security: A Political Economy Model
Excerpt: "The main feature of the model is that immigrants are desirable for the sustainability of the social security system because the political system is able to manipulate the ratio of old to young and thereby the coalition which supports future high social security benefits. We demonstrate that the older is the native born population the more likely is that the immigration policy is liberalized and the social security system survives." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve full-text)
First-Ever Analysis Grades Lifecycle Funds
Excerpt: "A study recently released by Turnstone Advisory Group is a first-of-its-kind report that compares and rates providers of lifecycle funds - data that can greatly aid employers weighing which fund to use in their retirement plans." (Employee Benefit News)
Sponsored by: www.ftwilliam.com
(Click on company name or banner to learn more.)
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can make your life easier.
- Improved user interface - even more user-friendly and Acrobat is no longer needed for data entry
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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Links to Items on Executive Comp, Benefits in General
New Executive Pay Disclosures Coming
Excerpt: "Investors will soon have a new scorecard designed to lay out in plain English just how much pay and perks are being lavished on top executives at public companies. . . . The new disclosures, in annual reports and proxy statements that will begin arriving later this month, will come closer than ever to a full accounting of total compensation for companies' top two executives and the next three highest-paid executives." (AP Online via NewsEdge Corporation via Human Resource Executive Online; free registration required)
Working Paper Abstract: Optimal Executive Compensation vs. Managerial Power
Excerpt: "This essay reviews Bebchuk and Fried's 'Pay without Performance: The Unfulfilled Promise of Executive Compensation'. Bebchuk and Fried criticize the standard view of executive compensation, in which executives negotiate contracts with shareholders that provide incentives that motivate them to maximize the shareholders' welfare." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve full-text)
Presentation by Comptroller General: Fiscal, Social Security, and Health Care Challenges, January 7 (PDF)
47 pages. Excerpt: "The federal government is on a 'burning platform,' and the status quo way of doing business is unacceptable for a variety of reasons, including: Past fiscal trends and significant long-range challenges; Rising public expectations for demonstrable results and enhanced responsiveness; Selected trends and challenges having no boundaries . . . ." (U.S. Government Accountability Office)
Hewitt Federal Legislation Quick Guide for January 9, 2007, on Human Resources & Employment Law (PDF)
1 page. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding human resources and employment law. (Hewitt Associates)
Compliance Calendar on Compensation & Benefit Due Dates for Filing of Legal and Regulatory Reports (PDF)
5 pages. Excerpt: "This valuable reference tool identifies the benefit plans affected for each required filing along with details on each due date." (Hewitt Associates)
Welcome to new BenefitsLink advertiser Retirement Capital Group, Inc.
Excerpt: "[Retirement Capital Group, Inc. (RCG) is a full service executive benefits firm that is committed to helping companies attract, retain, and appropriately compensate and reward their talented executives. This is accomplished first with a thorough assessment of a company's goals, financial and tax status, and more. RCG's recommendations are customized to meet each client's needs. .]" (BenefitsLink.com)
Newly Posted Events
Eligible 457 Plans in 2007
Nationwide on January 30, 2007
presented by SunGard Corbel
Engaging the Consumer to Deliver on the Promise of HSAs
in California on January 24, 2007
presented by DST Health Solutions
First Quarter 2007 Update - Webcast
Nationwide on February 12, 2007
presented by McKay Hochman Co., Inc.
Fixing Problems with Form 5500 Filings - Webcast
Nationwide on March 29, 2007
presented by McKay Hochman Co., Inc.
Form 5500 Update - 2007 - Webcast
Nationwide on March 27, 2007
presented by McKay Hochman Co., Inc.
Future Care 2007 Healthcare Web Summit Event
in California on January 16, 2007
presented by Healthcare Web Summit
Introduction to Retirement Plans - Webcast
Nationwide on April 10, 2007
presented by McKay Hochman Co., Inc.
National Employee Benefits Summit
in Georgia on June 19, 2007
presented by Health Affairs & Harvard Health Policy Review
Pension Law - 2006 - Webcast
Nationwide on January 18, 2007
presented by McKay Hochman Co., Inc.
Second National Consumer-Driven Healthcare Summit
in District of Columbia on September 26, 2007
presented by Health Affairs & Harvard Health Policy Review
SouthWest Benefits Association Annual Conference
in New Mexico on May 2, 2007
presented by SouthWest Benefits Association
The 401k Service Training ProgramTM accredited by Robert Morris University
in Pennsylvania on February 8, 2007
presented by Financial Service Standards, LLC.
Newly Posted Press Releases
Treasury and IRS Issue Guidance on New Distribution Provisions of the Pension Protection Act
U.S. Treasury Department and Internal Revenue Service
Newkirk Adds Gap Analysis to Targeted Communications Suite
Newkirk Products, Inc.
WPO's 2007 Work-Life Promotional Kit Helps EAPs and Employers Increase Awareness and Participation in their Work-Life Employee Benefits Programs
Workplace Options
ftwilliam.com Announces the Availability of 2005 5500 Data For Customer Use
ftwilliam.com
SaveDaily Introduces Revised 401(k) Statement Extraction Tool
SaveDaily.com, Inc.
Newly Posted or Renewed Job Openings
DC Conversion Analyst
for Retirement Alliance, Inc.
in NH
Employee Relations Director
for CitiStreet
in FL
401k Service Administrative Assistant
for A.G. Edwards & Sons
in CA
Retirement Plan Consultant
for Benefit Funding Services Group
in CA
Senior Relationship Manager / Investment Consultant
for Benefit Funding Services Group
in CA
Defined Benefit Client Manager
for Pentec, Inc.
in CT
401(k) Client Relationship Specialist
for Matthews Benefit Group, Inc
in FL
Employee Benefits Trust Administrator
for BB&T (Branch Banking and Trust, Inc.)
in NC
TRS - Installation Specialist
for Transamerica
in CA
Human Resources Representative
for WageWorks, Inc.
in IL
Defined Contribution Plan Account Representative
for Pentegra Retirement Services
in NY
Retirement Plan Manager
for Benetemps
in MA
Director, Relationship Management
for Fidelity Investments
in KY
Employee Benefits Associate
for Womble Carlyle
in NC
Comp/Benefits Writer & Audio Conference Producer Sought
for Newsletter/web publisher
in ANY STATE
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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