Team Lead, Client Services
Verisight
in CA

ESOP and 401(k) Administrator
Primark Benefits
in CA

Pension Administrator
Primark Benefits
in CA

Retirement Field Services Representative
Georgia Municipal Association
in GA

Document Consulting Manager
Verisight
in CA

Retirement Plan Implementation/Conversion Project Manager
Great West Financial
in MA

Manager, Compliance
Verisight
in IL

BAC Analyst
Towers Watson
in MA, NY, PA

Senior Benefits Advisory and Compliance Consultant
Towers Watson
in MA, NY, PA

Defined Contribution Senior Consultant
Towers Watson
in MA, NY, PA

In-House Legal Counsel
Evercore Trust Company
in NY

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HIPAA Compliance Audits: New Protocols and Requirements
October 26, 2015 WEBCAST
(MentorHealth)

SPDs for Group Health Plans: Complying With Content and Distribution Rules
November 19, 2015 WEBCAST
(Thomson Reuters / EBIA)

Life After Tibble: Investment Monitoring and Litigation Defense Considerations for ERISA Fiduciaries
December 3, 2015 WEBCAST
(Bloomberg BNA)

View All Webcasts and Conferences

Text of EBSA Interpretive Bulletin 2015-01 Relating to the Fiduciary Standard Under ERISA in Considering Economically Targeted Investments (PDF) 11 pages. "In this document, the Department withdraws Interpretive Bulletin 08-01 and ... reinstates the language of Interpretive Bulletin 94-01.... The Department believes that in the seven years since its publication, IB 2008-01 has unduly discouraged fiduciaries from considering ETIs and ESG factors. In particular, the Department is concerned that the 2008 guidance may be dissuading fiduciaries from [1] pursuing investment strategies that consider environmental, social, and governance factors, even where they are used solely to evaluate the economic benefits of investments and identify economically superior investments, and [2] investing in ETIs even where economically equivalent....

"The Department also has concluded that the same standards set forth in sections 403 and 404 of ERISA governing a fiduciary's investment decisions ... apply to a fiduciary's selection of a 'socially-responsible' mutual fund as a plan investment or, in the case of an ERISA section 404(c) plan or other individual account plan, a designated investment alternative under the plan.... The bulletin does not supersede the regulatory standard contained at 29 CFR 2550.404a-1 , nor does it address any issues which may arise in connection with the prohibited transaction provisions or the statutory exemptions from those provisions."

(Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL])

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Text of IRS Publication 5153: Appeal Procedures for Adverse Determination Letter on Qualification of a Retirement Plan (PDF)
2 pages; includes infographic. Revised Oct. 2015. "Because people sometimes disagree on retirement plan qualification matters, the IRS has an administrative appeal system. Most differences can be settled by appeal without a court trial." (Internal Revenue Service [IRS])

Text of PBGC Comment Request: Locating and Paying Participants (PDF)
"The information collection includes My Pension Benefit Account (My PBA), an application on PBGC's Web site ... through which plan participants and beneficiaries may conduct electronic transactions with PBGC, including applying for pension benefits, designating a beneficiary, granting a power of attorney, electing monthly payments, electing to withhold income tax from periodic payments, changing contact information, and applying for electronic direct deposit. PBGC is proposing to add a new form to the information collection: Form XXX, Benefit Inquiry Questionnaire. PBGC will send this form to individuals who contact PBGC to inquire whether PBGC is holding any benefits to which they are entitled. The questionnaire will request information that PBGC needs to determine whether the individual is owed benefits and, if so, the benefit amount." (Pension Benefit Guaranty Corporation [PBGC])

Text of Treasury Department Comment Request for Central States Pension Plan Application to Reduce Benefits
"On September 25, 2015, the Board of Trustees of the Central States Pension Plan submitted an application for approval to reduce benefits under the Central States Pension Plan.... Treasury is publishing this notice in the Federal Register, in consultation with PBGC and the Department of Labor, to solicit public comments on all aspects of the Central States Pension Plan application, including with respect to the interpretation of section 432(e)(9)(D)(vii) of the Internal Revenue Code that is reflected in the application. Comments are requested from interested parties, including contributing employers, employee organizations, and participants and beneficiaries of the Central States Pension Plan. Consideration will be given to any comments that are timely received by Treasury." (U.S. Department of the Treasury)

IRS Chart: Cost-of-Living Adjustments for Retirement Items (PDF)
8-page detailed chart of retirement plan limits from 1992-2016. (Internal Revenue Service [IRS])

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Developing an Effective Financial Wellness Program

November 9 -- Providing worksite financial education can empower your employees to reach their financial goals and raise their financial well-being, leading to a more satisfied and engaged workforce. BenefitsLink discount .

2016 COLA Adjustment Slightly Affects Limits for Certain IRAs and the Savers Credit
"Only some of the limits were changed from those that were in effect for 2015.... Individuals who are active participants are eligible to deduct their Traditional IRA contributions, only if their modified adjusted gross income (MAGI) amounts do not exceed certain limits ... Individuals may contribute to a Roth IRA only if their MAGIs do not exceed a certain amount ... A nonrefundable savers tax credit is available to eligible individuals who make contributions to their Traditional IRAs and/or Roth IRAs, as well as to those who make salary deferral contributions to an employer sponsored retirement plan." (Appleby Retirement Dictionary)

A Few Years Makes a Big Difference: Younger Boomers Have More Savings
"The median savings of working Americans age 60 or older is $50,000 against a retirement savings goal of $300,000. Working Americans age 55-59 have saved three times as much as those age 60 or older, having amassed $150,000 toward a retirement savings goal of $500,000. The study also found that working Americans age 60 or older started saving for retirement at an average age of 37, whereas those ages 55-59 started saving at an average age of 31." (Wells Fargo)

Enhancing Outcomes: The Value an Advisor Brings to K-12 Participant Preparedness and Account Performance in 403(b) Plans (PDF)
16 pages. "This paper evaluates the impact of financial advisors in the 403(b) experience for plan participants. It also examines the extent to which participants want an advisor option and whether providing that option is beneficial to them. As plans and funds grow increasingly complicated to navigate on one's own, the value of an advisor can be an important service. The results of this study could help participants decide whether they want to work with an advisor or use a do-it-yourself approach." (AXA Equitable Life Insurance Company)

401(k) Hardship Withdrawals Can Be Hard on HR
"The allowable reasons for hardship withdrawals are not as clear-cut as they might at first seem, HR professionals often learn. For instance, the IRS has said that a withdrawal to purchase a residence for family members excluding the employee isn't allowed, but what do you do when the employee says he's living with his girlfriend and she's about to be evicted?" (Society for Human Resource Management [SHRM])

Global Pension Finance Watch, Third Quarter 2015 (PDF)
12 pages. "A correction to world wide equity markets dominated third quarter results. All global portfolios indicated negative returns for the quarter. Pension index results declined for all regions." (Towers Watson)

The Social Security Survivor Benefit Do-Over
"It might make sense for someone who collected reduced survivor benefits to withdraw their application and repay any benefits they have received in order to collect a larger survivor benefit later. But it makes no sense to delay collecting survivor benefits beyond full retirement age when they are worth the maximum amount. Survivor benefits do not accrue delayed retirement credits although cost-of-living increases between the time the worker died and when the surviving spouse begins collecting benefits would apply." (InvestmentNews)

Some Fiduciary Rule Questions Answered
"[1] How will existing REITs and similar assets be handled if this goes through? Is there grandfathering? ... [2] I've read numerous times that the DOL's proposed budget for next year has specifically excluded any money for enforcement of any future fiduciary standard -- in effect to neutralize it. Is this true? Do you think this will happen? ... [3] How will the proposed rule affect advisors who don't have security licenses? ... [4] Any thoughts on how RIAs would be impacted? ... [5] I have trouble understanding how the BICE can apply to variable compensation that benefits the fiduciary.... [6] How do you argue that [it] is in the [client's] best interests and free of conflict?" (fi360)

Labor Secretary Promises Balanced Fiduciary Rule
"While Perez was reluctant to reveal what specific revisions might be made before the fiduciary rule is eventually finalized, he said that he is 'confident' that there will be changes made to clarify and improve upon the proposal while addressing 'legitimate' concerns that have been brought to the DOL's attention[.]" (Bloomberg BNA)

Moving DOL's Fiduciary Standards Into the 21st Century: The Case of ERISA Investing (PDF)
"In 2008, ... DOL told ERISA investors that they shouldn't exercise their rights as shareholders unless they first do a cost-benefit analysis showing that voting would have a net positive return -- a showing that is virtually impossible to make a priori .... In recent years, some institutional investors have urged DOL to undo this interference in professional investing and let pension plans and professionals use own their best judgment. If DOL does so, it would be a sign that they're keeping politics out of pension regulation and recognizing that ERISA pension funds can and should be recognized for the professional organizations they are. That sensitivity to existing professional standards could bode well for a thoughtful, practical result in the IRA rulemaking, too." (Joshua Gotbaum, via The Brookings Institution)

Correcting a Distorted Picture of Retirement Resources
"[A] recent blog post by the Economic Policy Institute (EPI) ... [argues] that 401(k) plans and IRAs provide 'negligible' income to today's retirees and that distributions from these plans will remain 'inadequate' for the foreseeable future. EPI has it wrong. Its analysis is highly misleading, for three reasons: [1] It's using unreliable data.... [2] It's backward-looking. The people whose income it's measuring, today's retirees, haven't enjoyed the benefits of today's well-developed 401(k) system. [3] It's gotten the math wrong. EPI's analysts simply mishandled the data in ways that minimized the value of 401(k) plan and IRA distributions." (Peter Brady, for Investment Company Institute [ICI])

Text of IRS Proposed Regs: Definition of Terms Relating to Marital Status
"[T]hese proposed regulations amend the current regulations under section 7701 ... to provide that, for federal tax purposes, the terms 'spouse,' 'husband,' and 'wife' mean an individual lawfully married to another individual, and the term 'husband and wife' means two individuals lawfully married to each other. These definitions apply regardless of sex. In addition, these proposed regulations provide that a marriage of two individuals will be recognized for federal tax purposes if that marriage would be recognized by any state, possession, or territory of the United States.... Although these proposed regulations define terms relating to marital status for federal tax purposes, the IRS may provide additional guidance as needed. For example, the IRS has already issued more particular guidance for employers regarding the application of Revenue Ruling 2013-17 to qualified retirement plans, and that guidance remains in effect.... [T]he IRS will not treat civil unions, registered domestic partnerships, or other similar relationships as marriages for federal tax purposes." (Internal Revenue Service [IRS])

SEC Addresses Rulemaking Mandates on Compensation (PDF)
"During 2015, the SEC issued rules on three significant and highly anticipated compensation-related matters. The rules, two of which are proposed and one of which is final, address pay-for-performance disclosure, the clawback of erroneously awarded incentive-based compensation, and, perhaps most significantly, pay-ratio disclosure.... Some of the underlying requirements of the rules have been met with fierce criticism. This article reviews the SEC's rules on these major compensation matters and summarizes their likely impact on public companies." (Ballard Spahr LLP via The Legal Intelligencer)

Trends and Gaps in Employee Stock Plan Communications Revealed by Survey of Multinational Companies
"[T]he use of equity awards by the surveyed companies generally continued to grow in 2014 and 2015, after falling in 2009-2011 and rebounding in 2012. With this growth in the use of equity has come an expansion in stock plan education and communications. While most of the surveyed companies (73%) communicate with plan participants at the time of grant, a widespread traditional practice, 47% of the companies now also communicate with participants again at the time of vesting, exercise, or payout. This figure rose from 37% in 2012. Some companies report that they communicate with participants at other times as well (or instead)." (myStockOptions.com)

ProCourse Fiduciary Advisor?s Deana Harmon Named to List of Top Women Advisors by National Association of Plan Advisors ProCourse Fiduciary Advisors, LLC

PSCA Announces the Winners of the 2015 Signature Awards PSCA [Plan Sponsor Council of America]

Leading Employee Benefits Attorney Joins Integrated Retirement Integrated Retirement

Prudential Financial Announces Leadership Changes Designed to Strengthen Position in U.S. Markets Prudential Financial, Inc.

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