Part Time On Call Retirement Planning Consultant
Transamerica Retirement Solutions
in AR, CA, HI, MO, NJ, NY, TN, UT

Senior Pension Sales Consultant
Lafayette Life Insurance Company; subsidiary of Western & Southern Financial Group
in OH

Retirement Service Specialist
Insperity
in TX

Actuarial Assistant
Austin Capital Retirement Plan Services
in TX

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2015 Benefit Design: What Changes Are Health Plans and Large Employers Likely to Make?
March 17, 2014 WEBCAST
(Atlantic Information Services, Inc)

CMS?s ?45-Day Notice? and 2015 Call Letter: Implications and Strategies for MA and Part D Plans
March 20, 2014 WEBCAST
(Atlantic Information Services, Inc)

Labor and Employment and ERISA Class Actions After Wal-Mart and Comcast ? Part III
April 16, 2014 WEBCAST
(Bloomberg BNA)

HSAs, HRAs, and Consumer-Driven Health Care
April 30, 2014 in NY
(Thomson Reuters / EBIA)

ERISA Compliance for Health & Welfare Plans
April 30, 2014 in NY
(Thomson Reuters / EBIA)

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Text of PBGC Proposed Submission of Information Collection for OMB Review; Comment Request; Annual Reporting (Form 5500 Series)
"PBGC is proposing a few modifications to the Schedule MB (Multiemployer Defined Benefit Plan Actuarial Information) and the Schedule SB (Single Employer Defined Benefit Plan Actuarial Information) and related instructions. The proposed modifications to the Schedule MB would require plan administrators of multiemployer defined benefit plans to specify the documentation required regarding progress under the applicable funding improvement or rehabilitation plan.... The proposed modifications to the Schedule SB would require plan administrators [of] single-employer defined benefit plans to report the funding target (vested and total) for each type of participant (active, retired, terminated vested)." (Pension Benefit Guaranty Corporation)

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ASPPA Encourages Professional Development

Are you looking for ways to expand your professional opportunities? Look no further than ASPPA certificates and credentials! Register for these exams and show employers you are ready to take the next step in your career.

Treasury Releases Last Substantial Rules Package to Combat Offshore Tax Evasion
"The proposed and temporary regulations released [February 20] make additions and clarifications to previously issued FATCA regulations and provide guidance to coordinate FATCA rules with preexisting due diligence, reporting, and withholding requirements under other provisions of the Internal Revenue Code ... [This] version of the regulations ... may vary slightly from the published document if minor editorial changes are made during the OFR review process. The document published in the Federal Register will be the official document." [Treasury has also released a Fact Sheet summarizing key provisions of the regs.] (U.S. Department of the Treasury)

Continuing Ed Material for IRS EP Personnel: Post PPA Pension Legislation (PDF)
65 pages; dated Winter FY2014. "The purpose of this chapter is to explain the provisions of any post Pension Protection Act (PPA) pension legislation. In this chapter we will discuss: the HEROES Earnings and Assistance Relief Tax Act of 2008 (HEART); the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA); Pension Relief Act of 2010 (PRA); Small Business Job Act of 2010 (SBJA 2010) and the Moving Ahead for Progress in the 21st Century Act (MAP 21)." (Internal Revenue Service)

Continuing Ed Material for IRS EP Personnel: Plan Terminations (PDF)
103 pages; dated Winter FY2014. "At the end of this chapter, you should be able to: [1] Determine and verify the date of termination for defined contribution and defined benefit plans (both covered and non-covered PBGC plans), the timeliness of a determination application, and the permanency requirements for plans. [2] List the accelerated vesting requirements (complete, partial, complete discontinuance). [3] Verify trust asset information. [4] Determine the funding obligations under IRC 412. [5] List the consequences and procedures for plans that are underfunded or overfunded. [6] List the prohibited transaction and unrelated business taxable income rules and determine how such rules protect the interests of plan participants. [7] Determine the continuing 401(a) compliance requirements for plans to remain qualified, including how specialists verify which prior law changes a plan must be amended for." (Internal Revenue Service)

Continuing Ed Material for IRS EP Personnel: Defined Benefit Plans - Schedule SB (Form 5500) and Related Schedules (PDF)
46 pages; dated Winter FY2014. "Documents that assist in the examination of a defined benefit plan are the: [1] Form 5500, Form 5 500-EZ, Form 5500-SF; [2] Schedule SB attachment to the Form 5500; and [3] Actuarial Valuation Report. These documents are used by the examiner in conjunction with personnel records, trust account statements, and other source information in the proper determination of the plan's mini mum funding requirement, deductible contribution, benefits paid and actuarial valuation. This chapter describes potential audit issues that may be detected during the analysis of the Schedule SB (Form 5500)." (Internal Revenue Service)

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Feb. 26 Webinar -- Private Health Insurance Exchanges for Large Employers

We will discuss the Mechanics of private exchanges for large employers; benefits and potential drawbacks of private exchanges; legal implications of private exchanges - what we know and what you should know when talking to private exchange providers.

Detroit Files Plan to Restructure Debt, Leave Bankruptcy
"Detroit's emergency manager filed a plan ... to restructure the city's $18 billion debt by making cuts to pensions and creditors while offering a blueprint for emerging from the largest municipal bankruptcy in U.S. history. An early draft of state-appointed Emergency Manager Kevyn Orr's plan called for city pensioners to receive $4.3 billion in payments and bondholders about $1.1 billion during the next 40 years. That draft also detailed plans to help pensioners keep more of what they are owed by using state and private funds to protect against the sale of city-owned art at the Detroit Institute of Arts." (Fox News)

Arizona High Court Bars Attempt to Cut COLA Increases for Public Pensions
"The Arizona Supreme Court ... unanimously upheld a Superior Court judge's ruling in favor of retired judges who challenged the Legislature's 2011 decision to cut [cost-of-living] increases for retirees in the state plan for judges and other elected officials.... Denying an appeal by state officials, the high court agreed the increases are part of a promised retirement benefit and are protected by the pension clause of the Arizona Constitution. That clause bars 'diminishing or impairing' public retirement benefits." (Sacramento Bee)

IRS Issues Guidance on Roth Rollovers of Nondistributable Balances
"The guidance focuses primarily on rollovers of balances that are not otherwise available for immediate distribution, such as where the account holder is not yet age 59-1/2. A 401(k) plan sponsor that has implemented an in-plan Roth rollover of otherwise nondistributable amounts, or that wants to do so, now has a limited extension for adding enabling provisions." (Towers Watson)

IRS Releases Revised Form 5300 and Instructions
"The revised Form 5300 and Instructions include numerous changes to both format and content, and require plan sponsors to disclose some additional information. The revised form may take longer to complete, but the changes are expected to increase IRS efficiency, reducing the time it takes to review and process determination letter applications. The IRS will accept the April 2011 version of Form 5300 through June 30, 2014. Determination letter submissions filed after this date must use the revised form.... [A] table provides an overview of significant changes[.]" (Quarles & Brady LLP)

The Completely Misunderstood ERISA Section 404(c)
"[1] I let participants direct investment of their accounts and my broker told me now I'm protected from fiduciary liability. Isn't that great? ... Well, it might be great but it will never be as great as you think it is.... [2] I can't possibly allow my clients to use 404(c), it's just too darned hard to comply ... [It's] not easy to comply, but look at the alternative if the plan sponsor does not try: the plan sponsor does not even get a chance to use the presumption.... [3] Section 404(c) protects me from all fiduciary liability.... No, this is not entirely true." (Fiduciary Plan Governance, LLC)

Outsourcing Fiduciary Investment Responsibilities (PDF)
"What does outsourcing fiduciary investment responsibilities relating to retirement plan investments involve? ... What are the advantages and disadvantages of outsourcing investment fiduciary responsibilities? ... Is outsourcing investment fiduciary responsibilities a good idea for companies (and plans) of all sizes or is one type of company (or plan) more suited to this type of outsourcing than others? ... What steps should a company take to implement outsourcing? ... What fiduciary responsibilities, if any, remain with the plan's investment committee once outsourcing has been completed?" (Groom Law Group)

SEC Announces Initiative Directed at Never-Before Examined Registered Investment Advisers
"As part of the initiative, [the Office of Compliance Inspections and Examinations (OCIE)] will conduct examinations of a significant percentage of advisers that have not been examined since they registered with the SEC. These examinations will concentrate on the advisers' compliance programs, filings and disclosure, marketing, portfolio management, and safekeeping of client assets. Additional details on the examinations are available[.]" (U.S. Securities and Exchange Commission)

Jacksonville Seeking Utility Payments to Help Pension Funding, Avoid Ratings Cut
"Jacksonville, rated the second level of investment grade by Moody's Investors Service, wants JEA to contribute $40 million annually to help avoid a downgrade. The utility, formerly called the Jacksonville Electric Authority, is ranked two steps lower by Moody's and, trying to dodge a cut of its own, said it can't afford the payment.... [Jacksonville Mayor Alvin Brown] said a $560 million contribution from JEA -- $40 million annually for 14 years -- may help the city's pension system become 80% funded by 2028." (Pensions & Investments)

Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions
"This paper presents new evidence on the effects of retirement benefits on labor force participation decisions. The analysis is based on a mandated rule for employer-provided retirement benefits in Austria that creates discontinuities in the incentives for workers to delay retirement.... Overall, multiple results highlight modest impacts of financial incentives on retirement decisions." (Day Manoli and Andrea Weber via SSRN)

Why myRA Is Not the Way to Save for Retirement
"President Obama recently proposed to help more workers save for retirement through an executive order creating the myRA. The plan is being billed as the ROTH IRA for every man or woman with neither access to a 401(k) plan at their workplace nor the lump-sum deposit to open an IRA on their own. Though well-intentioned, this isn't the best way to encourage workers to save more -- it's just a politically easier route. A better way is to automatically enroll workers with a retirement plan through payroll deductions and give them the option to opt out." (The Brookings Institution)

Transforming the Financial Firm from a Sales Culture to a Fiduciary Culture
"To get it done right, a fiduciary culture must be embraced fully by the principals of the firm. The fiduciary duties must be understood. Many systems of the firm, from investment strategy selection, to investment product due diligence, to client intake processes, to documentation needs, and much more, must be re-designed. The fiduciary culture must then filter down to everyone in the firm through robust education and values leadership." (Ron Rhoades)

Financial Planning Considerations for Same-Sex Couples After Windsor (PDF)
"As a result of the new ruling, employee benefits and financial planning strategies once available only to opposite-sex married couples may now be available to same-sex married couples. This paper highlights several of the changes that have taken place, and details how same-sex couples may wish to incorporate them into their financial planning." [Includes a checklist.] (Prudential Retirement)

The Most Popular Employee Perks of 2014
"In addition to all of the traditional perks like 401K matching funds and free medical and dental benefits, employers are becoming more innovative -- and employees love it! ... [H]ere are some of the most interesting and popular perks in 2014. [1] Game Rooms... [2] Good Eats.... [3] Physical Health.... [4] Mental Health.... [5] Time Off.... [6] Company retreats.... [7] Freebies." (Forbes)

SEC Tightens Screws on Pre-IPO Stock Awards
"[T]he SEC's Division of Corporation Finance updated Section 9520 ('Share-based Compensation in IPOs') of its Financial Reporting Manual ... These updated rules (set forth fully [in this article]) emphasize the valuation process and difference between the IPO price and the fair market value used for the last pre-IPO awards." (Winston & Strawn LLP)

Fidelity Investments Names Charles Morrison President of Asset Management Fidelity Investments

Canadian Institute of Actuaries and Society of Actuaries Partnering to Enhance Canadian Actuaries? Ability to Inform the Public and to Influence Public Policy Society of Actuaries

Alliance Benefit Group-Pentegra Is Certified To Industry Best Practices Centre for Fiduciary Excellence (CEFEX)

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