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401(k) Participants' Awareness and Understanding of Fees: Survey Results
"Despite the need for knowledge, seven in ten are not aware that they pay fees to their 401(k) plan provider to maintain their account. When told of these fees, six in ten are not aware of the amount they pay in fees to maintain their account." (AARP)
IRS Starts 403(b) Universal Availability Higher Education Project Check
"The project, which builds upon a similarly focused 403(b) pilot project involving K-12 public schools, focuses on higher education organizations sponsoring [IRC] section 403(b) plans and their satisfaction of Universal Availability . . . non-discrimination rules and new plan document requirements." (PLANSPONSOR.COM)
Pension Funding Has 'Stabilized,' According to New Head of National Governors Association
"I think . . . probably the headlines overstated the findings [of the Pew report]. It was not much [of a drop]. So it wasn't a really dramatic change." (Governing)
Rule 408(b)(2) Amendments 'Fully Drafted' at DOL
"'Right now, the amendments are effective January 1, 2012. Since the probable purpose of the rumored extension -- if true -- is the late issuance of these amendments, it is reasonable to assume that the new effective date would be somewhere in the range of April 1 to July 1, 2012.'" (AdvisorOne)
When Smaller Menus are Better: Variability in Menu-Setting Ability and 401(k) Plans
"We illustrate this result [a negative relation between menu size and menu quality, i.e., a smaller menu is better than a larger menu] empirically in the context of 401(k) plans, where we show a negative relation between the number of the investment choices in the 401(k) plan and the quality of optimal portfolio achievable given those investment choices." (President and Fellows of Harvard College)
The AARP 401(k) Fee Calculator
"This calculator can: Help determine the fees associated with individual plans and compares them to the average for a low-cost 401(k) investor. [Free registration is required.]" (AARP)
2010 Disclosures of Funding, Discount Rates, Asset Allocations and Contributions of the Towers Watson Pension 100
"During 2010, aggregate funded status for defined benefit . . . plans sponsored by the Towers Watson 100 . . . increased from 82% to 84%." (Towers Watson)
Should Social Security's Cost-of-Living Adjustment Be Changed?
"Some recent deficit reduction proposals call for shifting to a chained CPI to determine the cost of living adjustment (COLA) for Social Security. Others call for using a special price index for the elderly to adjust benefits. This fact sheet examines the consequences of each change on beneficiaries' incomes, program costs, and the economic security of older Americans." (National Academy of Social Insurance)
In the April Issue of Benefits Magazine: 'I Know I Could Save More, But . . . .'
"For those without easy access to the article, which reports the results of a survey ING did with 1,000 workers participating in employee-sponsored 401(k) plans, here are a few highlights . . . ." (Milliman, Inc.)
Michigan State House Passes Pension Tax Plan
"By a compromise worked out with lawmakers, the plan would exempt from the pension tax citizens who are 67 or older by Jan. 12, 2012." (The Detroit News)
Benefits in General; Executive Compensation
Press Releases
New AARP Fee Calculator Aims to Raise Awareness of Plan Costs (AARP)
ABG Recognized as a "Top Rated" Firm in the Small Retirement Plan Market (Alliance Benefit Group)
Multiple Employer Plans and the 401(k) Advisor (American Pension Services, Inc.)
US Department of Labor Sues Owner of Racine, Wis.-based Kiernan Heating and Air Conditioning, to Restore More Than $19,000 to Retirement Plan (U.S. Department of Labor, Employee Benefits Security Administration (EBSA))
Christy Hopkins Accepts Denver Retirement Plan Consultant Position With CPI Qualified Plan Consultants, Inc. (CPI Qualified Plan Consultants, Inc.)
Age-Based ? Not Date-Based ? Retirement Plan Investing is Popular with Employers and Employees (Securian Financial Group)
Employee Benefits Jobs
Institutional Investment Group Account Manager
for PNC Bank in PA
Benefits Consultant (Large Group)
for Northwestern Benefit Corporation of Georgia in GA
Post Your Job on EmployeeBenefitsJobs.com
Webcasts and Conferences
Contracting Web Summit in California on May 19, 2011 presented by MCOL
Health Care Reform Update: Internal Appeals, Grandfathered Plans, and More Nationwide on May 26, 2011 presented by EBIA / Thomson Reuters
Healthcare M&A in California: A Progress Report (Co-sponsored by Payers & Providers) in California on May 20, 2011 presented by MCOL
Preventive Care: Cost and Utilization Implications of the Affordable Care Act in California on June 29, 2011 presented by MCOL
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