[Guidance Overview]
IRS Raises Fees for Most Determination Letter Requests – "The fee for a new or amended non-mass submission by a master and prototype plan sponsor has decreased from $12,000 to $9,500 per adoption agreement. The fee has increased from $1,000 to $9,500 for advisory letters for each additional [adoption] agreement by a non-mass submitter volume submitter specimen plan." (Wolters Kluwer)

Do You 403(b)? (advert.)

It?s a whole new world at the NTSAA Annual Conference, the premier 403(b) and 457 forum for producers, providers, agents, broker/dealers, sales & marketing managers, staff, plan sponsors and more. Join your colleagues in Orlando this February 2-5.

[Guidance Overview]
Single-Employer Pension Funding Relief Elections May Require Immediate Action (PDF) – "This [bulletin] focuses on the IRS's guidance on electing the relief, the calculation of the reduced contribution, and the notifications." (Milliman, Inc.)

Best Practices for 403(b) and Related Retirement Plans Information Sharing: Minimum and Comprehensive Data Elements, Updated on January 18, 2011 (PDF) – "These 'Best Practices' set forth: 1. The data elements for information sharing between 403(b) plan employers or employer representatives and vendors. 2. A basic file convention layout. 3. The frequency of data transmissions. 4. An approach for sharing and transmitting data on a transaction or daily basis when agreed upon by both the sending and receiving parties." (The SPARK Institute)

Fiduciary News Trending Topics for ERISA Plan Sponsors: Week Ending 1/14/11 – "[A] quick synopsis of the major news events and trends impacting ERISA plan sponsors, 401k fiduciaries and those in the business of supporting these fine folks." (Fiduciary News)

Many Workers Miss Out on Retirement Tax Credit – "The Saver's Credit may be applied to the first $2,000 of voluntary contributions an eligible worker makes to a 401(k) or similar employer-sponsored retirement plan or IRA. . . . But only 12% of full-time workers with annual household incomes of less than $50,000 are aware of the credit, according to a survey . . . ." (TheStreet.com, Inc.)

In Illinois, New Bill Would Impose Pension Reforms on Current Participants – "There are differing schools of thought as to whether the Illinois Constitution allows state lawmakers to alter the conditions of existing public-service pensions. A bill filed last week is aimed at forcing the issue. House Bill 146 . . . would impose the pension limits put on new hires starting Jan. 1 on all participants in the five state-run pension systems and the Illinois Municipal Retirement Fund." (Northwest Herald (Crystal Lake, Illinois))

California Ballot Measure Would Reduce Future Public Employee Pension Benefits – "The proposed ballot measure would force every public employee pension plan in the state to reduce future accruals to, in most cases, about half the current level until the pension plan is fully funded for three consecutive years -- a threshold that seems many years away." (Bay Area News Group)

GE Ends Defined Benefit Pension Plan – "General Electric . . . has terminated its defined benefit . . . pension plan to salaried employees appointed after Dec. 31, 2010, Pensions & Investments reports." (emii.com)

The Value of a Good ERISA Fiduciary – Excerpt: 'One of the best developments in the retirement plan industry over the past few years has been the advent of the independent ERISA fiduciary where a financial advisor will assume some or all of the plan sponsor and trustee's liability in the selection and monitoring of plan investment. This article will describe the value of a good ERISA fiduciary as well as their different designations and the liabilities/responsibilities they are willing to assume." (JD Supra, LLC)

[Opinion]
Opposing View on Public Pensions: Blame Wall Street – "It is simply wrong . . . to suggest that modest retirement benefits paid to public service retirees are a cause, or even a part, of the budget problems facing governments." (USA TODAY)

[Opinion]
California Must Reduce Public Employee Retirement Benefits – "During the last decade, California state government payments for retirement benefits have grown at an alarming and unsustainable rate, exceeding $5 bil.lion a year, more than state support for the entire UC system." (Los Angeles Times)

Your Product + Our Readers = $$ (advert.)

Advertise your company's products and services in the BenefitsLink newsletter. Our subscribers care about employee benefit plan compliance, administration, costs and design. Contact Mary Hall for details.

[Guidance Overview]
Incentive Stock Options and Employee Stock Purchase Plans: IRS Information Statements and Information Returns under Section 6039 Final Regulations – Excerpt: ' The information statement and information return must be on Form 39211 (for incentive stock option exercises) or Form 39222 (for transfers of stock acquired under an employee stock purchase plan), although the corporation may provide the employee with an information statement on a 'substitute form' that satisfies certain format and content requirements." (Cooley LLP)

New Book: GPS (Guidance, Procedures, Systems): Performance Awards – There has been a recent explosion in the use of performance awards. Even when they represent only a fraction of the total outstanding equity compensation, their unique aspects present a host of administrative challenges, financial reporting issues, and communication concerns. This book gives stock plan professionals guidance on the unique aspects of performance awards and how those issues must be addressed in administration, employee communication, and financial reporting. (National Center for Employee Ownership (NCEO))

The SPARK Institute Releases Draft Update To 403(b) Plans Best Practices, Seeks Public Comments SPARK Institute

Aetna Building a Case for a "Mind-Body" Approach to Stress Management Aetna

Cowden Associates, Inc. 2010/2011 Tri-State Area Employee Benefits Survey Now Open for Participation Cowden Associates, Inc.

David Kaplan, MD, Joins Mercer as Global Leader of Clinical Services and Solutions Mercer

Schwab Retirement Study Uncovers Gender Differences in Money Management Styles Charles Schwab Corporation

New Valuable Checklist to Help You Manage Your Personal Benefits ? 11 Tips for 2011 Rhodes-Joseph & Tobiason Advisors, LLC

Retirement Planning: Tips for Late Bloomers RetirementPlanning.net

McClatchy Announces Contribution of Real Estate to Defined Benefit Pension Plan McClatchy Company

Administrative Assistant
for Economic Group Pension Services, Inc. in NY

Account Manager, Retirement Services
for Lockton Insurance Brokers, LLC in CA

Pension Administrator
for Platinum Pension Group, LLC in MA

Regional Sales Manager
for Mayo Clinic in MN

Attorney - Health and Welfare Plans
for Practical Law Company, Inc. in NY

Attorney - Retirement Plans
for Practical Law Company, Inc. in NY

Client Service Manager
for The Newport Group in FL, NC, WI

"Plan Fees: Navigating the Maze Workshop" - Boston
in Massachusetts on February 16, 2011 SunGard Relius

"Plan Fees: Navigating the Maze Workshop" - New York
in New York on February 18, 2011 SunGard Relius

"Plan Fees: Navigating the Maze Workshop" - Philadelphia
in Pennsylvania on February 17, 2011 SunGard Relius

"Plan Fees: Navigating the Maze Workshop" - Syracuse
in New York on February 18, 2011 SunGard Relius

Independent Fiduciary Symposium
in Colorado on March 1, 2011 Independent Fiduciary Training, LLC

Medicare: What's New and What's Changing Next?
Nationwide on February 3, 2011 International Foundation of Employee Benefit Plans