Financial Services Firms Stumped by the Retirement Income Dilemma - Summary: Despite a proliferation of retirement income products and financial services firms' best efforts to capture the retirement income market, no single leader has emerged in this coveted space. Cogent Research's new In-Retirement Income 2010 report explores familiarity and interest in retirement income products among today's affluent retirees and pre-retirees. Located at: 401khelpcenter.com, March 2010. Click on headline to read full article.

Suddenly, 401k Fee Disclosures Getting Plenty of Attention - Summary: DOL readying proposal that would force service providers to make more info available; House committee unveiling similar legislation this week. Located at: Investmentnews.com (free registration may be required), March 2010. Click on headline to read full article.

Target-Date Series Research Paper: 2010 Industry Survey - Summary: The survey documents trends in target-date fund design, costs, and asset flows since the 2008 market downturn as well as target-date strengths, weaknesses, and returns to investors. It also offers an examination of target-date fund disclosure, and an analysis of the performance of fund series using proprietary, or in-house, versus independent managers in target-date fund construction. Located at: Morningstar , March 2010. Click on headline to read full article.

Key Trends in Employee Financial Picture - Summary: Financial Finesse's 2009 Year in Review based on tracking employees' most pressing financial concerns through their usage of our financial education services. Trend analysis research is compiled by tracking calls into Financial Finesse's Financial Helpline Service, which is available to over 500,000 employees from more than 300 organizations. Located at: Financial Finesse , March 2010. Click on headline to read full article.

The 5500 Nightmare: Completing the Schedule C - Summary: Recordkeepers, bundled plan providers, third party administrators, broker-dealers, RIAs, investment managers, and mutual fund complexes are all struggling . . . with the new Schedule C. This is a review of some issue you should be familiar with. Located at: Reish & Reicher , March 2010. Click on headline to read full article.

The Business Case for a DC Plan - Summary: The answer as to whether and how to invest in retirement benefits involves being clear about the purposes motivating your enterprise to implement a plan, the return on investment you expect from it and your methods for measuring ROI on an ongoing basis. Located at: Mercer, March 2010*. Click on headline to read full article.

Four Suggested Focus Areas to Complete a Prudent Fiduciary Review of Target Date Funds - Summary: This paper provides a practical fiduciary approach to analyzing Target Date Funds by suggesting that plan fiduciaries focus on four specific areas: risk, risk-adjusted returns and expenses, underlying funds and reliability. Located at: Securian Retirement , March 2010. Click on headline to read full article.

Section 403(b) Arrangements Meet ERISA - Summary: The DOL issued FAB 2010-01 clarifying the extent to which pre-2009 contracts no longer receiving employer contributions under a tax-sheltered annuity Section 403(b) arrangement may be omitted from ERISA plan reporting, and when Section 403(b) arrangements are exempt from ERISA under the Department's "safe harbor" regulation. The results are some "do" and "do not" rules for tax-exempt employers who want to minimize or claim exemption from ERISA reporting. Located at: Sonnenschein Nath & Rosenthal LLP, March 2010. Click on headline to read full article.

Providers Vie for TPA Attention - Summary: Particularly in the small-plan market, retirement plan providers are seeing more business come through third-party administrators (TPAs)—and, as a result, are ramping up their efforts to attract TPAs. Located at: Planadviser.com, March 2010. Click on headline to read full article.

Americans' Confidence Stabilizing, but Preparations for Retirement Erodes - Summary: Americans' confidence in their ability to retire appears to be stabilizing, now that the economic volatility of the recession has abated, but their self-described preparations for retirement continue to erode, according to the 2010 Retirement Confidence Survey. Located at: 401khelpcenter.com, March 2010. Click on headline to read full article.

2010 Retirement Confidence Survey - Summary: The 44 page 2010 Retirement Confidence Survey finds that Americans' confidence in their ability to afford a comfortable retirement, which had dropped sharply over the past two years, has stabilized now that the economic volatility of the recession has abated. The steep declines in other retirement confidence indicators also appear to be slowing. However, the retirement preparations reported by some workers are eroding, leaving them less prepared for retirement. Located at: Employee Benefit Research Institute , March 2010. Click on headline to read full article.

ASPPA Lauds Senate for Adopting Roth Conversion Proposal - Summary: Thanks to a new provision in legislation being considered by the Senate, workers may not have to give up the advantages of an ERISA 401k plan to take advantage of the special 2010 Roth conversion rules. Located at: 401khelpcenter.com, March 2010. Click on headline to read full article.

IRS 2009-2010 Guidance Plan -- A Look at What's Coming - Summary: Each year the IRS issues a list of its top-priority guidance initiatives for the year, called the guidance plan. The long-awaited list of items was issued in late 2009, and sets forth the plan for issuing much-needed guidance for the July 2009–June 2010 year. A look at a number of provisions from the guidance plan that remain to be addressed will give us an idea of what is in store for the coming year. Located at: Groom Law Group , March 2010. Click on headline to read full article.

DOL Advisory Opinion 2010-01A - Summary: Whether the TIAA "Traditional Annuity" used in 403(b) retirement plans is a fully allocated contract for annual reporting purposes within the meaning of 29 C.F.R. § 2520.104-44(b)(2) and the Form 5500 Instructions. Located at: U.S. Department of Labor, March 2010. Click on headline to read full article.

403(b) Retirement Plan Audits - Frequently Asked Questions - Summary: The AICPA 403(b) Plan Audit Task Force has prepared these questions and answers to assist plan auditors and plan administrators in implementing the DOL financial statement audit requirements for section 403(b) retirement plans that are subject to ERISA. Located at: Business of Benefits Blog , March 2010. Click on headline to read full article.

Corporate America Scrutinizes Its 401ks - Summary: Companies are increasingly scrutinizing 401k providers as they restore employee matches following a year of drastic cost cutting. Located at: Thestreet.com, March 2010. Click on headline to read full article.

A Guide to Retirement Plan Fees & Expenses - Summary: In this paper, the author will discuss retirement plan fees and expenses to assist plan sponsors in achieving a greater understanding of their plan operations. Located at: Trucker Huss, March 2010. Click on headline to read full article.

IRS Audits and Bonding for 401k Plans - Summary: The IRS has recently announced the results of two of its LESE (Learn, Educate, Self-Correct and Enforce) audit projects. For both projects, the most common violation was the failure to adequately bond the plan as required by ERISA section 412. Located at: Reish & Reicher, March 2010. Click on headline to read full article.

DOL Proposes New Rules on Providing Invest. Advice - Summary: The Proposed Rule mirrors the DOL's previously published final rule issued in the last days of the Bush Administration, except for two significant differences. Located at: Paul, Hastings, Janofsky & Walker LLP , March 2010. Click on headline to read full article.

Safe Harbor 401k Top-Heavy Plans - Summary: If a plan becomes top heavy and any key employee has had an allocation (including elective deferrals) of 3% or more, then the employer must provide an allocation of 3% to all eligible non-key employees. However, if it is a safe harbor 401k plan, the employer is already providing a contribution, so there are special top-heavy rules that apply to safe harbor plans. Located at: McKay Hochman, March 2010. Click on headline to read full article.

DOL/Treasury Request for Information on Lifetime Income Products - Summary: The Obama Administrations Middle Class Task Force released on January 27, 2010 a Fact lifetime income products. The Fact Sheet indicated that the questions anticipate the potential for new rules or guidance to encourage the availability of annuities and other forms of guaranteed lifetime income in qualified retirement plans. Located at: Dechert LLP , March 2010. Click on headline to read full article.

ASPPA Comments Relating to the Revision of Revenue Procedure 2007-44 - Summary: ASPPA filed these comments with the IRS providing recommendations on the how the procedures for determination letters, plan remedial amendments and other matters covered by Revenue Procedure 2007-44 could be improved. The letter was filed in anticipation of the issuance of an updated revenue procedure in this area. Located at: ASPPA , March 2010. Click on headline to read full article.

DOL, SEC to Issue Alert on Target-Date Funds - Summary: The Labor Department and the Securities and Exchange Commission are working on a joint consumer alert about the way target date funds work in retirement plans, according to a person familiar with the situation. Located at: Investmentnews.com (free registration may be required), March 2010. Click on headline to read full article.

COMMENTARY: Will Annuities Be Mandatory in Qualified Plans? - Summary: Whatever happens with respect to any requirement for longevity guarantees, the entire process will require careful analysis to ensure that employees are, in fact, afforded meaningful guarantees. This analysis entails not merely the method of providing the longevity guarantee, but also the percentage of retirement assets that must be subjected to such a guarantee. Located at: Morningstar, March 2010. Click on headline to read full article.

DOL Updates Guidance for Certain 403(b) Plans - Summary: Employers sponsoring 403(b) plans should review the DOLs FABs 2009-02 and 2010-01 (this document provides an overview) to ensure compliance for the plan year 2009 Form 5500 filing. Early preparation is advised as plan year 2009 is the initial year for electronic filing under the DOLs EFAST2 protocol. Located at: Milliman , March 2010. Click on headline to read full article.

The Impact of New Required 5500 Reporting Requirements - Summary: This comprehensive report was prepared to help facilitate the correct completion of the new requirements for Form 5500 Schedule C to ensure accurate expense information can be captured and reported in a consistent and reliable manner. Provides a definition and commentary on each code. Located at: Fiduciary Risk Assessment LLP , March 2010. Click on headline to read full article.

DOL's Proposed 401k Rules Could Ding Brokers Leaving Spoils to RIAs - Summary: This article explains how independent advisors — and in a separate development index funds — may be well-positioned to capitalize on the new proposed advice rules. Located at: RIABiz, March 2010. Click on headline to read full article.

Managing the Fiduciary Supply Chain - Summary: Retirement plan sponsors oversee a supply chain of services acquired from external vendors. Since ERISA requires plan Administrators (fiduciaries) to prudently select and monitor service providers, managing the supply chain is a critical activity. Located at: Roland|Criss, March 2010. Click on headline to read full article.

Department of Labor "Reproposes" PPA Participant Invest. Advice Regulation - Summary: As the trend toward self-directed accounts emerged, DOL issued guidance elucidating circumstances in which investment support for participants would not raise a prohibited transaction concern. Located at: Sutherland Asbill & Brennan LLP , March 2010. Click on headline to read full article.

Proposed 401k Reforms Stir Debate - Summary: If the U.S. Labor Department has its way, the rules governing who can give Americans invest. advice about their 401ks and IRAs, and how that advice gets delivered and paid for, soon will change. But financial advisors and others disagree dramatically on whether the proposed rules will help or harm investors. Located at: Financial Advisor Magazine, March 2010. Click on headline to read full article.

Forcing Terminated Participants out of Company Stock not ERISA Violation - Summary: A federal court has ruled that a sponsor of an employee stock ownership plan did not breach its fiduciary duties by amending the plan to force terminated employees out of company stock investments. Located at: Planadviser.com, March 2010. Click on headline to read full article.

Managing Fiduciary Responsibility - Summary: As a plan sponsor, how much do you know about the fiduciary responsibility associated with your retirement plan? This overview is intended to help you get started with the management of your fiduciary responsibility. Located at: Invesco , March 2010. Click on headline to read full article.

A Fiduciary's Guide to Target Retirement Date Funds - Summary: Despite all the controversy, target retirement date funds can be an effective investment tool when used properly. Plan fiduciaries need to be aware of the various issues involved. This paper is designed to provide a basic overview of these funds, some of their pros and cons, and various considerations in this area. Located at: Conrad Siegel , March 2010. Click on headline to read full article.

The Top Ten Things to Do If Your 401k Plan Fails Nondiscrimination Testing - Summary: 401k plan sponsors generally do not relish the annual call from their consultant with their plan's nondiscrimination testing results. If your plan regularly passes testing, that's great news. However, if you are not so fortunate or your plan is on the cusp, there are steps you can take to greatly increase your plan's chances of success. This article discusses those choices. Located at: TRI-AD, March 2010. Click on headline to read full article.

COMMENTARY: Advisable Advice Regulations - Summary: We are no longer in a defined-benefit world with specified benefits, or even in a defined-contribution world where accounts are managed by professionals. We are, for better or for worse, in the 401k/participant-directed world. Against this backdrop, the DOL has now reproposed the invest. advice regulations under the fee-leveling and computer-model exemptions added by the PPA. Located at: Pension and Benefits Blog, March 2010. Click on headline to read full article.

DOL Provides Guidance on Reporting Obligations of 403(b) Plan Sponsors - Summary: Employers should revisit their plans to determine whether they are subject to the new Form 5500 reporting requirements, which include new audit and reporting obligations. Located at: McDermott Will & Emery, March 2010. Click on headline to read full article.

Form 5500 Transitional Relief - New Guidance Issued - Summary: Employers sponsoring ERISA-covered 403(b) plans are subject to significantly expanded Form 5500 reporting beginning with the 2009 plan year, as well as a potential audit requirement. Located at: Ice Miller LLP, March 2010. Click on headline to read full article.

Do You Really Want to Be a 401k Consultant? - Summary: Before you take on any 401k business, consider the benefits and pitfalls outlined in this article. Located at: Onwallstreet.com, March 2010. Click on headline to read full article.

Financial Education in 'Living Color' - Summary: Employees may have equal access to 401k plans, but participation is anything but equal. The recent release of Ariel Investments' and Hewitt Associates' study confirms what individual client studies have shown for years - that ethnicity is the number one predictor of 401k behavior. Located at: Employee Benefit News (free registration may be required), March 2010. Click on headline to read full article.

Participant Understanding Greatest Challenge for DC Sponsors - Summary: Sponsors of 401k plans are concerned that employees don't understand their retirement plans, yet many of those same organizations are not increasing efforts to improve member understanding and education over the next year or two. Located at: Employee Benefit News (free registration may be required), March 2010. Click on headline to read full article.

Painting a Realistic Retirement Picture - Summary: Proposal to require plan sponsors to project participants' 401k account balances into lifetime income comes with a minefield of potential problems. Located at: Employee Benefit News (free registration may be required), March 2010. Click on headline to read full article.

CITs Make a Comeback Within 401k Plans - Summary: The recent market's turmoil, along with some high-profile lawsuits, has turned a spotlight on mutual funds' pricing, and that has spurred a resurgence in a product that many 401k plans had historically neglected: collective investment trusts. Located at: American Banker, March 2010. Click on headline to read full article.

Summary of DOLs Invest. Advice Regulations - Summary: This summary was prepared by the law firm of Davis & Harman, LLP. It reviews the following issues: Existing Exemptions and Programs, Fee-Leveling Exemption, Computer Model Exemption, New Computer Model Rule, Generally Accepted Investment Theories and Effects on SunAmerica. Located at: American Benefits Council , March 2010. Click on headline to read full article.

Towers Perrin Retirement Legislative Tracking Chart - Summary: Thousands of bills are introduced in Congress but only a select few are summarized on this chart. This selection represents Towers Perrin's best judgment on the likelihood of enactment and the relevance of the issue for employers. Located at: Towers Perrin , March 2010. Click on headline to read full article.

IRS Issues Tax Tips on Early Distributions from Retirement Plans - Summary: Some taxpayers may have needed to take an early distribution from their retirement plan last year. The IRS wants individuals who took an early distribution to know that there can be a tax impact to tapping your retirement fund. Here are ten facts about early distributions. Located at: CCH, March 2010. Click on headline to read full article.

How You Can Lose Money in a Money Fund: Fees - Summary: If you invest in a money fund, you probably think you won't lose money. But if your money fund is in a variable annuity, you probably lost anywhere from 1% to 3% the past 12 months — not because the funds' investments were bad, but because of additional fees the variable annuity charges. After fees, some money fund accounts in 401k plans may have lost money the past 12 months for the same reason. Located at: AARP, March 2010. Click on headline to read full article.

2010 Reporting & Disclosure Calendar for Benefit Plans - Summary: Summarizes compliance requirements for qualified, single employer benefit plans and is intended to indicate general reporting and disclosure requirements applicable to employee pension and welfare benefit plans on an annual basis. Located at: Sibson Consulting , March 2010. Click on headline to read full article.

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