Western Benefits Conference 2011 [Advert.]
Featuring groundbreaking sessions for plan sponsors, attorneys, consultants, health & welfare professionals, actuaries, investment advisors and TPAs, the WP&BC and ASPPA present the Western Benefits Conference July 24-27 at the Bellagio in Las Vegas.
San Francisco Rethinking Annuity for 5-Years of Service
"San Francisco's pension fund last year paid $3.3 mil.lion to former employees who worked as little as 5 years in city government but nonetheless qualified for a generous pay package upon their 50th birthday." (San Francisco Chronicle)
New Services Can Help Convert Retirement Savings Into a Steady Paycheck
"The products are aimed primarily at the millions of baby boomers who, though hesitant to hire a financial adviser, are unsure of how to spend their nest eggs without running a significant risk of going broke." (The Wall Street Journal)
Video: Anna Rappaport on Retirement and Working Longer
"Anna Rappaport . . . was one of the presenters at the Society of Actuaries 'Living to 100' program held in Orlando earlier this year." (Allaboutfunds.com)
Supreme Court Set to Answer Question: Are Employers' Promises of Benefits Such As Pension Payments and Health Care Insurance Worth the Paper They Are Written On?
"The case, which concerns the pension plan at Cigna Corp., could be decided as soon as Monday. At issue: If your employer deliberately provides inaccurate information about your benefits, and you rely on it to your detriment, do you have recourse?' (The Wall Street Journal)
Groups Urge Lawmakers not to Disrupt Public Pension Oversight
"A statement for a hearing of the House Ways and Means Committee's Oversight Subcommittee prepared on behalf of various organizations representing state and local government retirement systems said Federal proposals on transparency . . . would levy a whole new and conflicting Federal reporting regime on top of existing state and local structures and rules of the Government Accountability Standards Board." (PLANSPONSOR.COM)
A Regulatory Disconnect Threatens the Future of DB Plans
"On their Pension and Benefits Blog, BNA blogger Scott Macey recently illuminated a contradiction between what Congress intended and the actions regulators have taken on hybrid DB plans that threatens to stop some of the best DB plans from ever seeing the light of day and to push sponsors to abandon their current DB offerings." (Milliman, Inc.)
California Report Analyzes Proposals to Reduce State Worker Pensions
"For its report, the foundation analyzed two major proposals that would reduce state pension payouts by about 40% for current workers and by about 25% for people hired after 2011." (California HealthCare Foundation by The Advisory Board Company)
With Many Choices Today for Retirement Plans, Do You Have the Right Plan?
An interesting perspective on pre-ERISA days. 'There have been many amendments to the ERISA legislation over the years. So, as the ad said, 'This is not your father's Oldsmobile.'" (North Jersey Media Group)
5 Ways to Make 401(k) Plans More Like Pensions
"[A] group of industry professionals convened a working group, the Retirement 20/20 Initiative, to brainstorm ways to get defined contributions to look -- and behave -- a bit more like defined benefit plans by generating reliable income streams in retirement. The group includes actuaries, economists, employers, participant advocates, investment experts and academics researchers." (Reuters)
Delta Offers First Buyout and Retirement Offers Since 2009
"Workers in the U.S. with 10 years of service whose age and service total at least 55 years are eligible for the retirement offers while employees with 5 years of service can take a buyout . . . ." (San Francisco Chronicle)
Under Financial Stress, Many Retirement Plans Need Cash, and the PBGC Does, Too
"[W]hile public employee pension plans are making headlines as governments struggle to cut spending, retirement-planning experts say there is cause for concern about many private pension funds that are underfunded to meet future needs." (Memphis Commercial Appeal)
Pension Tax Would Violate Constitution, Michigan Government Retirees Say
"One of the cornerstones of Gov. Rick Snyder's tax plan -- extending the state income tax to pension income -- is based on the notion that a simple, fair and efficient tax system treats income the same no matter where it comes from." (Detroit Free Press)
Wyoming Retirement System Reported 'Healthy'
"The Legislature in 2010 increased total retirement fund contributions to 14 percent of salaries, an increase of 2.7 percent. State government essentially split the increase, with 1.44 percent paid by the state, bringing its share to 12.69 percent. State employees now are paying 1.43 percent of their gross pay into the fund." (The Billings Gazette)
Benefits in General; Executive Compensation
IRS Seeking Public Comments on 2011-2012 Priority Guidance List
"The 2011-2012 Guidance Priority List will establish the guidance that the Treasury Department and IRS intend to issue from July 1, 2011 through June 30, 2012." (Wolters Kluwer Law & Business)
Equity Compensation Update Course Now Available
The NCEO's latest Equity Compensation Update course is now available. It provides articles and quizzes on recent developments in the field (from January 2010 through March 2011) in corporate and securities law; taxation; accounting; and equity plan design, administration, and analysis. The course provides 15 hours of continuing education credit for Certified Equity Professional (CEP) designees. (National Center for Employee Ownership (NCEO))
Press Releases
Employee Benefits Jobs
Executive Retirement Plans Reporting Specialist
for GuideStone Financial Resources in TX
VP, Investment Product Management & Development
for Prudential in CT
Account Manager
for ING Americas in FL
Education Consultant
for AXA Equitable in CA, TX
Post Your Job on EmployeeBenefitsJobs.com
Webcasts and Conferences
401(k) Rekon Advisor Symposium - Tampa in Florida on June 7, 2011 presented by 401(k) Rekon
PPA Hot Topics Audiocast Nationwide on May 11, 2011 presented by Conference of Consulting Actuaries
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