Ret plans - design (BenefitsLink.com)Headlines re Ret plans - design, gathered by BenefitsLink.comOpinion The Public Pension COLA Conundrum- (Found June 24, 2008 ) Excerpt: "The huge problem facing public pension plans now is that we have entered a period of stagflation in which investment returns are unlikely to pay for COLAs. The 'free lunch' of strong investment returns -- in the 1990s and the middle of this past decade -- is no longer there to pay for benefits increases. If anything, many pension plans will suffer declining funding ratios as their investments fail to meet actuarial assumptions." (Governing.com)http://www.governing.com/articles/0806gmillera.htm Guidance Overview Distributing Annuities from Defined Contribution Plans: The Qualified Plan Distributed Annuity (PDF)- (Found June 24, 2008 ) 6 pages. Excerpt: "The QPDA has languished in the background for many years, its greatest use in the past being associated with the termination of defined benefit plans. With the growing need for providing portable retirement income benefits, and with the demands forced by the new 403(b) regulations, these hybrid products will enjoy growing prominence in the retirement plan regulatory scheme. This increased focus should ultimately result in a more highly organized regulatory approach to...http://www.bakerdstreamingvid.com/blogdocs/Qualified_Plan_Dist_Annuities.pdf Opinion Senate Finance Committee Considering Legislation Harmful to Pension Security (PDF)- (Found June 24, 2008 ) 5 pages. Excerpt: "I am writing to express grave concerns over the consideration that the Senate Finance Committee is giving to modifying Section 420 of the IRS Code to allow the transfer of defined benefit pension plan funds to 401(h) healthcare accounts to pay for the healthcare benefits for active employees. This action under consideration would have devastating consequences to the future pension security of 44 million active and retired workers who have earned a defined benefit...http://www.nrln.org/BKLETTERS/NRLN%20Ltr%20Sen%20%20Baucus%20Pension%20Transfer%20v2.pdf Guidance Overview DOL Webcast on Regulatory, Interpretive and Amicus Update, Sponsored by DOL's Employee Benefits Security Administration- (Found June 24, 2008 ) Excerpt: "This third in a series of webcasts will address guidance on a series of frequently asked questions raised since publication of the final regulation on qualified default investment alternatives; guidance on the responsibilities of plan fiduciaries and trustees with respect to monitoring and collecting delinquent employer and employee contributions owed to employee benefit plans; the participant contribution safe harbor proposal; and recent amicus participation in ERISA...https://event.on24.com/eventRegistration/EventLobbyServlet?target=registration.jsp&eve... Supreme Court to Rule on Pension Credit for Old Maternity Leaves- (Found June 24, 2008 ) Excerpt: "The Supreme Court agreed Monday to decide whether decades-old maternity leaves should count in determining pensions. The issue has split federal appeals courts and could become increasingly important as women who took maternity leaves in the 1960's and 70's approach retirement." (Associated Press)http://ap.google.com/article/ALeqM5h7OEXGmWQO0GSfEdWlrr3i-Ep-MwD91FT1981 Fiduciary Concerns on the Rise, Advisers Say- (Found June 24, 2008 ) Excerpt: "Three out of four advisers have observed heightened fiduciary concerns from plan sponsors since last year, according to a survey by Putnam Investments. The Putnam survey of 154 retirement plan advisers found that advisers see fiduciary concerns as an important issue for plan sponsors; favor target-date-type products; and, amid fee regulation, think their fees are on par with industry standards." (planadvisor.com)http://www.planadviser.com/research/article.php/2423 The Law of Unintended Consequences As Applied to a Business Owner's Retirement Plan- (Found June 24, 2008 ) Excerpt: "A 1936 article has since been popularized as The Law of Unintended Consequences, as in case of a business owner using the tax laws to exclude Non-Highly Compensated Employees (Non-HCEs) from his or her retirement plan if asset protection is a key objective. Why Because a retirement plan covering only the business owner andor the owner's spouse is not an ERISA plan, and does not qualify for anti-alienation protections under Title I of ERISA." (The Retirement Plan Blog)http://www.retirementplanblog.com/-401k-plans-the-law-of-unintended-consequences-as-applie... House Panel Backs Retirement Benefits Boost for Border Officers- (Found June 24, 2008 ) Excerpt: "Rejecting a White House proposal, a House subcommittee this week approved additional funding for enhanced retirement benefits for Customs and Border Protection officers." (GovernmentExecutive.com)http://govexec.com/story_page.cfm?articleid=40239&sid=2 Future Chicago City Workers Could Lose Out on Lush Pension Plan- (Found June 24, 2008 ) Excerpt: "Newly hired employees would shift to the 401(k) plans favored by private industry -- instead of the 'defined benefits' enjoyed by their older co-workers -- under a plan being pushed by the head of Mayor Daley's pension reform commission." (Chicago Sun-Times)http://www.suntimes.com/news/metro/1018038,CST-NWS-pension22.article New York Legislature Making Progress on Pensions As Session Draws to a Close- (Found June 24, 2008 ) Excerpt: "The legislation, drafted by Attorney General Andrew M. Cuomo's office and introduced by lawmakers late last week, would ban the widespread and costly practice in which school districts pay lawyers who do consulting work by enrolling them in the pension system. It would also prevent retired public employees from collecting their pensions even after they are rehired, a practice known as 'double dipping.'" (The New York Times; free registration required)http://www.nytimes.com/2008/06/23/nyregion/23empire.html?partner=rssuserland&emc=rss&a... |