[Official Guidance]
Text of Technical Revisions to Actuarial Information on Form 5500 Annual Return/Report for Pension Plans Electing Funding Alternatives (PDF)
"This document announces that certain technical revisions to the Schedule MB (Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information) and the Schedule SB (Single-Employer Defined Benefit Plan Actuarial Information) of the Form 5500 Annual Return/Report of Employee Benefit Plan have been adopted in IRS Notice 2010-83 . . . and IRS Notice 2011-3 . . . to reflect funding relief alternatives retroactively available to defined benefit pension plans . . . ." (U.S. Employee Benefits Security Administration)

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[Guidance Overview]
Court Won't Hit Participants for ERISA Lawyers' Fees
"A federal judge in Colorado has turned aside an employer's demand that its lawyers be paid $1.5 mil.lion in fees for litigating a cash balance plan charge that was ultimately decided in the company's favor." (PLANSPONSOR.COM)

[Guidance Overview]
IRS Guidance for Terminating 403(b) Plans (PDF)
"In the new guidance, the IRS describes four scenarios, involving non-ERISA plans and ERISA plans, as well as assets invested in individual annuity contracts, group annuity contracts and custodial accounts. These scenarios illustrate that some additional steps are required to terminate a 403(b) plan and distribute plan benefits." (Prudential Retirement)

[Guidance Overview]
Final FBAR Rules: Some Retirement Plan Relief But Reporting Obligations Remain (PDF)
"Significant questions and comments have been raised regarding the extent to which FBAR reporting applies to retirement plans (through, generally, the plan's trust) and the scope of the types of foreign investments by retirement plans which could give rise to a reporting obligation on the part of the plan, the plan's participants, and the fiduciaries and other persons who provide investment-related services to the plan . . . ." (Patterson BelknapWebb & Tyler LLP)

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[Guidance Overview]
Court Decides More Facts Needed in Stock Drop Suit
"The [District Court] ruled that the presumption of prudence is not enough to dismiss claims a company breached its [ERISA] fiduciary duties relating to offering company stock as an investment option. [The judge] noted that despite the prevalence of the presumption established in Moench v. Robertson, it is not universally accepted, and several courts have found that the application of the presumption is inappropriate at the Motion to Dismiss stage." (PLANSPONSOR.COM)

[Guidance Overview]
New Cash Balance Claims Filed Too Late Says District Court
"[The judge] ruled that the participants' amended claims against the Hanover Insurance Group ran afoul of the five-year statute of limitations for statutory liability claims." (PLANSPONSOR.COM)

[Guidance Overview]
Bank Wins Dismissal of Company Stock Suit
"Another court has used the 'presumption of prudence' standard to rule for the employer in a case where participants allege a breach of fiduciary duty for continuing to offer company stock as a retirement plan investment during a time of corporate financial woes." (PLANSPONSOR.COM)

Upcoming IRS Phone Forum: Single and Multiemployer Plans on April 28, 2011
"Adrien LaBombarde and Tonya B. Manning, actuaries in Employee Plans Rulings & Agreement - Technical, will present an hour-long update on issues relating to funding standards applicable to single and multiemployer pension plans." (U.S. Internal Revenue Service)

One More Week for Comment on DOL's Fiduciary Definition Regulation
"Most of the criticism centers around the idea that the expanded regulation will increase cost and limit investment options for investors. [The target page links to top articles from the past week on the subject.]" (fi360 Blog)

Presentation Available from Pension Risk and Your Retirement Briefing
"The Academy's Pension Practice Council presented a briefing, Pension Risk and Your Retirement, April 4 on Capitol Hill. Presenters Ethan Kra and Lane West addressed the risks inherent with retirement plan designs and the implications for retirement planning and public policy." (American Academy of Actuaries)

GASB Said to be Close on Pension Funding Disclosure Mandate
"According to a Reuter's news report, David Bean said the board will release an exposure draft on the possible requirements in June." (PLANSPONSOR.COM)

The 401(k) Auditor's Wish List
"As an employee benefit plan auditor with more than 18 years of experience working with hundreds of defined contribution plans, I have gone over my past interactions with plan sponsors and created a 'wish list' for the things all auditors would like from their plan sponsor clients." (Employee Benefit News; free registration required)

Public Pension Crisis Has Some Bracing for Worst
"Legislative ambiguity about public pension funds, as well as their underfunded status, has financial advisers who work with public employees scrambling to plug holes in their retirement plans." (Investment News; free registration required)

Changes Coming to Florida Retirement System
"There's no doubt lawmakers will pass and Gov. Rick Scott will sign into law proposals to require contributions from public employees." (www.floridatoday.com)

[Opinion]
Industry Group Letters to Senate and House Regarding PBGC Premiums (PDF)
"As we understand it, the Administration's proposal would grant the Executive Branch (through the PBGC Board) the authority to set and adjust the level of premiums that a retirement plan sponsor would pay. In setting those premiums, the PBGC Board would be required to take into account an employer's credit rating, despite serious questions that have been raised in recent years about the methodology used in determining such ratings, and their reliability in certain circumstances." (American Benefits Council)

[Opinion]
To Cut the Deficit, Look to Social Security
"The key question is how much of Social Security's financing gap should be closed by cutting benefits versus raising taxes. Some of both will be needed, but slashing benefits is dangerous because retirements are already at risk." (The New York Times; free registration required)

[Guidance Overview]
SEC's Proposed Rules for Compensation Committee Advisers
"These are critical issues to nearly all readers. However, the Proposed Rule provides very little guidance or elaboration on the statutory terms. Instead, as I noted last week, the Proposed Rule mainly repeats the provisions set forth in Sections 10C(c), (d) and (e) (added by Dodd-Frank Act Section 952) regarding . . . ." (Michael S. Melbinger via Winston & Strawn LLP)

[Guidance Overview]
Federal Regulators' Proposed Rule Addressing Incentive-Based Compensation Arrangements for Financial Firms
"While many banking institutions have recently been subjected to guidance on sound incentive compensation policies adopted by certain Federal banking agencies . . . Section 956 applies, and the Proposed Rule would apply, to a broader range of financial institutions. The Proposed Rule, however, will supplement, not replace, other rules on compensation practices . . . ." (K&L Gates LLP)

[Guidance Overview]
SEC's Proposed Rules Implementing Dodd-Frank Provisions on Independence of Compensation Committees and their Advisers (PDF)
"The proposed rules would: direct the national securities exchanges to adopt certain listing standards related to the compensation committee of a company's board of directors, as well as its compensation advisers, and require new disclosures from companies concerning their use of compensation consultants and conflicts of interest." (Alston & Bird LLP)

With 79 Million Boomers on the Brink of Retirement, Comprehensive Financial Planning is Critical (Employee Benefit Research Institute (EBRI))

Westcore Funds Added to CPI Retirement Platform (CPI Qualified Plan Consultants, Inc.)

Creative Communication Ideas for National Employee Benefits Day, April 4, 2011 (HighRoads, Inc.)

Mercer Announces Appointment of Julie Humphries as Global Defined Contribution Consulting Leader (Mercer)

Relationship Mgr II/III in CA for The Standard

New Business Specialist in PA for BeneTrends, Inc.

Senior 401(k)/DC Administrator in MD for Administrator Planning Services, Inc. dba. Administrator Companies

Retirement Plan Administrator in MD for RSM McGladrey, Inc.

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"401(k) Plan Current Issues Workshop" - Boston in Massachusetts on May 13, 2011 presented by SunGard Relius

"401(k) Plan Current Issues Workshop" - Chicago in Illinois on May 11, 2011 presented by SunGard Relius

"401(k) Plan Current Issues Workshop" - Kansas City in Kansas on May 11, 2011 presented by SunGard Relius

"401(k) Plan Current Issues Workshop" - Minneapolis in Minnesota on May 13, 2011 presented by SunGard Relius

"Form 5500/EFAST 2 Workshop" - Boston in Massachusetts on May 12, 2011 presented by SunGard Relius

"Form 5500/EFAST 2 Workshop" - Chicago in Illinois on May 10, 2011 presented by SunGard Relius

"Form 5500/EFAST 2 Workshop" - Kansas City in Kansas on May 10, 2011 presented by SunGard Relius

"Form 5500/EFAST 2 Workshop" - Minneapolis in Minnesota on May 12, 2011 presented by SunGard Relius

2011 Roth Conversion and Portability Nationwide on April 7, 2011 presented by McKay Hochman Co., Inc.

3-Part Defined Benefit Prototype Plan Series Nationwide on April 12, 2011 presented by McKay Hochman Co., Inc.

Automatic Contribution Arrangements Nationwide on April 14, 2011 presented by McKay Hochman Co., Inc.