Retirement Plan Administrator
Actuarial Consultants, Inc.
in CA

Customer Service Agent
Southern California Pipe Trades Administrative Corporation
in CA

Benefit Specialist
Southern California Pipe Trades Administrative Corporation
in CA

Claims Processor
Southern California Pipe Trades Administrative Corporation
in CA

Account Manager
National Retirement Services, Inc.
in NC

Compliance Analyst
National Retirement Services, Inc.
in NC

Senior Plan Manager
Morehead Plan Administrators, LTD
in NC

Junior Plan Manager
Morehead Plan Administrators, LTD.
in NC

401(k) Pension Consultant-Sales
Farmer & Betts
in AZ, CO, FL, IL, MO, TN, TX

Benefits Analyst
Stanford University
in CA

Defined Contribution Plan Administrator
N.A. Falcone & Associates, Inc.
in PA

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Best Practices for a Successful Lump Sum Buyout Strategy and Recent Developments Plan Sponsors Should Consider
November 18, 2014 WEBCAST
(PricewaterhouseCoopers LLP)

New ASOP 6: Does Your Actuarial Work Measure Up?
November 24, 2014 WEBCAST
(American Academy of Actuaries)

Circular 230 and the Push for Ethical Organizations and Professionalism
December 3, 2014 WEBCAST
(ASPPA [American Society of Pension Professionals & Actuaries])

Properly Defining Retirement Plan Compensation
December 4, 2014 WEBCAST
(IRS [Internal Revenue Service])

5th Annual Benefits Technology Summit
April 21, 2015 in CA
(benefitsCONNECT)

View All Webcasts and Conferences

NIPA [National Institute of Pension Administrators]

Text of IRS Notice 2014-73: Weighted Average Interest Rates, Yield Curves, and Segment Rates Applicable for November 2014 (PDF)
"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under Section 417(e)(3), and the 24-month average segment rates under Section 430(h)(2) of the Internal Revenue Code. In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate ... The rates in this notice reflect the application of Section 430(h)(2)(C)(iv), which was added by [MAP-21] and amended by [HATFA]." (Internal Revenue Service [IRS])

[Advert.]

ASPPA's New Business Executives and Managers Conference -- January 2015

The Business Executives and Managers Conference (BEAM), is a must attend for small business TPA owners, executives, managers, and decision makers. This event offers valuable knowledge and ideas in best practices; register today!

PBGC Annual Report Shows Improvement in Single-Employer Program and Deterioration in Multiemployer Program
"The deficit [in Fiscal Year 2014] in the single-employer program narrowed to about $19.3 billion, down from $27.4 billion in 2013. The program insures the pensions of nearly 31 million workers and retirees in about 22,300 ongoing plans sponsored by private-sector employers. The single-employer program's potential exposure to future pension losses from financially weak companies was estimated at about $167 billion compared to about $292 billion last fiscal year. The condition of the single-employer program continues to improve because of a stronger economy, better market returns, and an $869 million increase in net premium income, largely because of legislative changes. In FY 2014, PBGC assumed responsibility for about 53,000 people in 97 trusteed single-employer plans." [Also see: Text of 2014 Annual Report .] (Pension Benefit Guaranty Corporation [PBGC])

2015 Planning for ERISA Single-Employer DC Plan Operations (PDF)
10 pages. "Make timely 401(k) deposits.... Process auto cashouts of small balances.... Review procedures for acceptance of rollovers.... Review plans with after-tax contributions -- Roth and non-Roth.... File Form 8955-SSA electronically.... Review forfeitures and investment credits.... Confirm all payroll processes are clean and audited for year-end testing.... Get IRS review of your document.... [C]onfirm that plan documents state a statute of limitations period ... [C]onsider fiduciary training[.]" (Buck Consultants at Xerox)

2015 Planning for ERISA Single-Employer DB Plan Operations (PDF)
9 pages. "Implement benefit restrictions if funding shortfall or top 25 highly compensated employees rules apply.... Get set to trigger automatic payments.... Remind participants of any opportunity to name beneficiaries.... File Form 8955-SSA electronically.... Address foreign asset reporting obligations.... Evaluate the need for plan amendments -- and deadlines.... Make sure your summary plan description matches your plan document.... Evaluate funding trends.... Consider mortality and other assumptions.... Map investments to liabilities or 'de-risk.' " (Buck Consultants at Xerox)

Cycle D Filing Deadline for All Multiemployer Plans: January 31
"Under the second go-round of the IRS's five-year staggered determination letter filing cycle, all multiemployer plans must file by January 31, 2015, under Cycle D ... This filing requires the restatement of the plan to incorporate amendments required over the past five years ... The deadline applies to all multiemployer plans, including off-calendar-year plans that filed under Cycle E in the first iteration of the five-year program." (Milliman Retirement Town Hall)

2014 Year-End Retirement and Distribution Planning for IRA Owners and Small Businesses
"If you turned age 70-1/2 before 2014, or hold an inherited retirement plan ... Review your records and make sure you take the full required distribution before the end of the year to avoid a 50% penalty.... If you turn age 70-1/2 in 2014 and you own an IRA: You also have a required minimum distribution due for the year 2014, but you have a choice: This first year's distribution can be postponed until as late as April 1, 2015.... Multiple individual beneficiaries of a 2013 decedent have until Dec. 31, 2014, to divide up their inherited IRA into multiple inherited IRAs, one payable to each beneficiary." (Natalie Choate, in Morningstar Advisor)

Millennial Workers Not Saving Enough to Receive Company Matching Contributions
"[W]hile the average participation rate of young Millennial workers (age 20-29) is 73 percent -- and slightly higher (77 percent) for older Millennials (age 30-39) -- many are saving at a low rate. Nearly 40 percent of 20-29 year olds and 31 percent of 30-39 year olds are saving at a level that is below the company match threshold." (Aon Hewitt)

Five Step Retirement Checkup for Plan Participants
Infographic. "The year is winding down but there's still time to remind your employees to take a look at their retirement savings programs and make changes if necessary. Share this 'Retirement Check-up' infographic with your employees to help them boost their retirement security -- while gaining more appreciation for their total benefits offering." (Fidelity Investments)

DOL to Hold January Hearing on Credit Suisse's Retirement Plan Manager Status
"The temporary exemption conditions include: the development of extensive policies and procedures designed to ensure that the affiliates fully comply with their fiduciary duties; stringent reporting requirements, mandatory training of Credit Suisse personnel regarding their legal and ethical responsibilities, and an independent audit of the Credit Suisse affiliates' compliance with their fiduciary obligations and the terms of the exemption. In addition, the exemption requires Credit Suisse to have notified affected plans and IRAs 'of the facts leading to the forthcoming criminal conviction and its consequences.' " (ThinkAdvisor)

Defense Department Urged to Shift from Traditional DB Plan to Hybrid Plan Design
"As part of an ongoing DOD review of military compensation and retention issues, Rand researchers found that because of a 20-year vesting requirement, only 34% of officers and 14% of the enlisted personnel serve long enough to benefit from the current defined benefit system, which has been in place for 70 years. Switching to a hybrid plan that has a defined contribution plan and a reduced defined benefit component could save between $1.8 billion and $4.4 billion each year and improve retention by covering more people." (Pensions & Investments)

Appeal Threatens Stockton Bankruptcy Ruling on Pensions
"Franklin Templeton Investments filed a notice of appeal ... challenging the Oct. 30 decision that approved Stockton's reorganization plan. The plan keeps the pensions fully funded but pays Franklin, which loaned the city $36 million during better economic times, just 12 cents on the dollar.... On Oct. 1, U.S. Bankruptcy Judge Christopher Klein ruled that Stockton had the right to slash its payments to CalPERS, a decision that sent shock waves through the pension industry and had public employee unions scrambling. A month later, though, the judge approved the Stockton reorganization plan even though it leaves the city's pensions untouched." (The Sacramento Bee)

Pension Risk Declines for Fortune 1000 Plan Sponsors in 2014
"Among companies in the 2013 and 2014 Fortune 1000, the median Pension Risk Index score fell from 1.8% to 1.2% over the last year. Over 2013, a strong stock market increased market capitalization and higher interest rates reduced liabilities. Companies whose pensions pose significant risks might want to consider de-risking their plans by shifting from equity to debt." (Towers Watson)

Brokers: It's Time to Give Up the Fiduciary Fight
"[T]he fiduciary battle should be abandoned as a lost cause. Otherwise, there's a real danger the brokerage industry will use its enormous wealth to emasculate an important legal distinction.... If the fiduciary battle is lost, the question becomes: Where are the real professionals going to find their next bright-line distinction? ... First, let's push for clarity in the terminology.... Second, let's create some clarity around who does (and who doesn't) put the client's interests first.... Then create an organization, or use an existing organization, that will only accept people who meet those standards." (Financial Planning)

Does Your Financial Advisor Develop Your Annual Spending Budget Based on How Much You Have and How Long You Might Live?
"In a recent survey of Financial Advisors ... 25% responded that they based their approach on levels of pre-retirement spending, 22% indicated that they used a rule of thumb like the 4% Rule, 19% indicated that they used some variation of the Bucket Strategy, 16% indicated that they compared assets with future liabilities and 18% indicated some other approach. [The survey] concluded that not enough Financial Advisors were using 'math and science' to develop spending budgets for their clients and should be periodically comparing the client's assets with the client's liability ... similar to how actuaries measure the funded status of pension plans[.]" (Ken Steiner, FSA Retired)

The Supreme Court's 2013-2014 Labor and Employment Law Decisions: Consensus at the Court
"This Article is a review of the Supreme Court's 2013-2014 labor and employment law decisions. Among the cases discussed are ... Fifth Third Bancorp v. Dudenhoeffer , Heimeshoff v. Hartford Life & Accident Ins. Co. ... and Burwell v. Hobby Lobby Stores . The Article notes the relative lack of sharp divisions among the Justices -- a result that appears to largely be the result of a less controversial labor and employment docket. However, as some of even this year's decisions show, sharp divisions on the Court still exist, and we're likely to see a return to the usual ideological decisions in later terms." (Jeffrey M. Hirsch, University of North Carolina School of Law, via SSRN)

Trouble Brewing in the Workplace: Benefits to the Rescue
"Employees are concerned with their financial wellness, as evidenced by the research. And, when asked, they pinpointed some specific things employers can do to help them address these concerns. Nearly a third (29%) of respondents said that the ability to 'borrow' money from employer at 0% interest for necessary purchases would influence them to stay with their employer longer 30% said that reduced cafeteria food costs or lunch vouchers would have the same effect 21% said that they would be influenced to stay with their employer longer if the employer offered financial wellness counseling. Massages and in-house services got a positive reception from 25%, who said it may also influence their likelihood to stay with an employer." (workpays.me)

What Is Deferred Compensation? Difficult Issues Made for Complex 409A Rules (PDF)
"[One] difficult issue was to determine what arrangements were deferred compensation, so that people would know whether the arrangement was subject to Section 409A. The legislation was not very helpful in that regard.... Another difficult issue was when stock and stock-based compensation would be subject to Section 409A ... Since the Section 409A rules are seen as complex as the qualification rules for tax-qualified plans, companies are surprised to learn that the corrections program for deferred compensation plans is more limited than the corrections program for qualified plans." (Groom Law Group, via Bloomberg BNA Pension & Benefits Daily)

CMS Releases New Data Demonstrating Increased Choice, Competition in the Health Insurance Marketplace in 2015 Centers for Medicare & Medicaid Services [CMS]

Patient-Centered Care Sees Positive Health Outcomes and Lower Costs for 'Medigap' Population Mercer

Metlife And Fidelity Introduce New Investment Solution: A Variable Annuity with a Principal Protection Guarantee Fidelity Investments

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