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An Update on DOL Disclosures - Recorded
July 8, 2014 WEBCAST
(ASPPA [American Society of Pension Professionals & Actuaries])

The ASPPA Restructuring Proposal ? What?s Next? - Recorded
July 10, 2014 WEBCAST
(ASPPA [American Society of Pension Professionals & Actuaries])

Overview of Tax Practice Ethical Rules and the Office of Professional Responsibility (OPR) - Recorded
July 15, 2014 WEBCAST
(IRS [Internal Revenue Service])

Individual Shared Responsibility Provision ? What You Need to Know - Recorded
July 16, 2014 WEBCAST
(IRS [Internal Revenue Service])

View All Webcasts and Conferences

Text of IRS Notice 2014-62: Weighted Average Interest Rates, Yield Curves, and Segment Rates for October 2014 (PDF)
"This notice provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), ... the 24-month average segment rates[,] ... the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008, the 30-year Treasury weighted average rate ... and the minimum present value segment rates ... as in effect for plan years beginning after 2007. These rates reflect certain changes implemented by [MAP-21]." [Recent corporate bond yield curve spot rates available in Excel spreadsheet .] (Internal Revenue Service [IRS])

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ASPPA Annual Conference on October 26-29 in Washington DC

We don't just set the bar, we're constantly raising the bar for America's Retirement. And we unleash that tenacity at every ASPPA Annual Conference.

Plan Sponsors Should Proceed with Caution When Helping Participants Manage 'Longevity Risk' (PDF)
"Although these regulations remove a small impediment to lessening longevity risk within employer-sponsored DC plans and IRAs and may help plans offer solutions to participants concerned about 'outliving their money,' they are not a panacea.... [T]hese new rules are just one step and should be considered in the context of all the issues sponsors face in helping their employees attain retirement income adequacy." (Sibson Consulting)

2014 Year-End Qualified Retirement Plan Checklist
"This checklist addresses both year-end deadlines and January 2015 deadlines which sponsors of qualified retirement plans may wish to begin preparing for now." (Benefits Bryan Cave)

Opportunities and Issues During the PPA Restatement Process (PDF)
"The Pension Protection Act of 2006 [PPA] restatement process for pre-approved defined contribution, 401(a) plans, which began May 1, 2014, will run until April 30, 2016.... This article addresses frequently asked questions about the restatement process and suggests some broad considerations to bear in mind as plans are restated.... This challenge also brings business opportunities and an opportunity to help employers keep plans in compliance, make plans easier for employers to understand and help employers reach the goals they have for their plans in the first place." (Wolters Kluwer Law & Business / ftwilliam.com, via Plan Consultant)

New Simplified Procedures Allow Participants in Certain Canadian Retirement Plans to Defer Taxation Until a Distribution Occurs
"[ Rev. Proc. 2014-55 ] removes the requirement to file Form 8891 -- both to elect the tax treaty benefit and as an ongoing reporting requirement. In addition, retroactive relief applies to any individual who was eligible to make the tax treaty benefit election and failed to do so. Such individuals will be treated as if they had made the election in the first year that they were eligible to do so." (Ascensus)

Sometimes Life Isn't Fair... for a Fiduciary
"Paying excessive retirement plan fees can increase a fiduciary's liability. Outside of a fiduciary role, however, no one is required to present a fair fee to the plan. So, if the service provider is granted the authority to change around investments that end up paying itself more than a reasonable amount, it isn't required to refund any amount and act in the plan's best interest. Excessive fees happened in this case because the [plan sponsor] irresponsibly allowed the service provider too much autonomy over the plan and too little liability to balance it out." [ Santomenno v. John Hancock Life Ins. Co. , No. 13-3467 (3d Cir. Sept. 26, 2014)] (Castle Rock Investment Company)

Cypen & Cypen Newsletter for October 9, 2014
Article titles include: Entity only fiduciary to extent it possesses authority or discretionary control over plans; Social Security COLAs slated to increase slightly in 2015; Stockton bankruptcy ruling may lead to pension cuts; New Hampshire retirement system amendment not unconstitutional retrospective law; and Reasons why you should not borrow from your 401(k) plan. (Cypen & Cypen)

Text of Letter from NASRA to Moody's About Recent Report: 'U.S. State and Local Government Pensions Lose Ground Despite Meeting Return Targets' (PDF)
"With Moody's latest report, concerns regarding the potential mischaracterization and misuse of these manipulated pension numbers have been more than realized. Moody's fails to clarify that these are adjusted numbers, and makes little effort to explain that declining interest rates are the primary cause of the drastic change in liabilities. Yet the report implies, wrongly, that such changes will affect funding." (National Association of State Retirement Administrators [NASRA])

ISS 2014-2015 Policy Survey: Views on Executive Compensation from Investors and Companies Differ
"Investors and companies had differing views on the relationship between performance goal setting and target award values.... ISS plans to implement a 'balanced scorecard' in evaluating plan proposals ... Both investors and companies signaled that plan cost should have the highest weighting among the three categories, followed by plan features and grant practices, respectively.... When evaluating Say on Pay, a majority of investor respondents (63%) indicated positive changes that will be implemented to the compensation program in the succeeding year can 'somewhat' mitigate pay-for-performance concerns for the year in review, a view held by 34% of company respondents." (Steven Hall & Partners)

A New Approach to Abuse of Discretion Review in the Ninth Circuit
"The Ninth Circuit Court of Appeals recently applied a searching analysis under the abuse of discretion standard of review -- one that takes into account all circumstances and will not uphold denial simply if there is a single reasonable basis to deny benefits -- even where there was no finding that a conflict of interest existed.... The court emphasized that it will not uphold a claims decision simply because it is supported by 'any reasonable basis,' as the court had [previously] held ... In addition, the Ninth Circuit suggested that the admission of extrinsic evidence -- even where the abuse of discretion standard applies -- may be appropriate in ERISA cases where the administrative record is not sufficient." [ Pacific Shores Hospital v. United Behavioral Health , No. 12-55210 (9th Cir. Aug. 20, 2014)] (Trucker Huss via Lexology)

Imminent Transition to Holistic Health and Retirement Benefits for Businesses (PDF)
"Thirty-nine percent (39%) of businesses are interested in transitioning to a defined contribution plan for both health and retirement benefits. Over half (55%) believe that they will make the transition to a plan for both health and retirement benefits in one to three years. Thirty percent (30%) of businesses have at least half of their employees enrolled in a Health Savings Account (HSA) compatible plan. The top concern in developing an employee benefits strategy is cost (74%) followed by the employer contribution amount (49%). The majority (79%) of respondents are concerned that employees will cut back retirement contributions due to the rising cost of health care." (Manning & Napier)

Health and Retirement: Planning for the Great Unknown (PDF)
"As boomers move into their later years, health will be the ultimate retirement wildcard. For many, health can be the difference between a retirement of opportunity, independence, and financial security -- or of worry and financial challenges.... [This study] uncovers the challenges of planning for health and health care expenses in retirement, and reveals strategies to set a course for a healthier and more financially secure retirement[.]" (Merrill Lynch)

SageView Welcomes New Associates and MidWest Region Lead SageView Advisory Group

Lincoln Financial's Retirement Plan Services Business Announces In-Plan Guarantee Innovation Lincoln Financial Group

Dena B. Calo Joins Saul Ewing, Further Strengthening the Firm's Labor, Employment and Employee Benefits Practice Saul Ewing LLP

CalPERS Selects GCM Grosvenor to Run $200 Million Private Equity Emerging Manager Fund-of-Funds CalPERS [California Public Employees' Retirement System]

OneAmerica Opens New Office for Retirement Services in Honolulu OneAmerica Financial Partners

Four New Members Join Benefit Advisors Network Benefit Advisors Network

US Department of Labor Files Suit to Restore Losses to Employee Benefit Plan of Raydar Inc. in Odon, Indiana Employee Benefits Security Administration [EBSA], U.S. Department of Labor

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