401k Fee Disclosure Passes House - Summary: Fee disclosure reform is one step closer to implementation. In a get-away vote prior to breaking for the Memorial Day long weekend, the House passed the American Jobs and Closing Tax Loopholes Act (H.R. 4213) which contains the 401k fee disclosure language. Source: Mutualfundwire.com, May 2010. Click on headline to read full article.

DOL Host Fifth Webcast on 2009 Form 5500 Requirements - Summary: The U.S. Department of Labor's Employee Benefits Security Administration will host a free webcast June 3rd to answer questions from employers, plan administrators and service providers about the Form 5500, EFAST2 and the new e-signature options for electronic filing requirements that began with the 2009 plan year. Source: U.S. Department of Labor, May 2010. Click on headline to read full article.

The IRS Scrutinizes 401k Cash for Small Business - Summary: As the credit crisis has made it tougher for small businesses to get funding, some would-be entrepreneurs have exploited a loophole that lets them finance a startup with 401k retirement funds without facing any taxes or penalties. Now the technique is catching the attention of the IRS. Source: Businessweek.com, May 2010. Click on headline to read full article.

Investors Tap Into 401k Money Tax-Free for Business Startups - Summary: An investor sets up a corporation, establishes a new 401k plan there, rolls over his or her existing 401k or IRA, and then uses part or all of the plan's assets to buy shares of the new company. This funds the new business, while keeping the tax- advantages of the retirement plan. But the transactions have drawn the scrutiny of the IRS. Source: Businessweek.com, May 2010. Click on headline to read full article.

Form 5500 Roundup - Summary: As we are rapidly approaching the due date for calendar year 5500s, this article provides a brief update on recently issued DOL guidance. Source: ERISAdiagnostics.com, May 2010. Click on headline to read full article.

The Retirement Income Landscape - Summary: As baby boomers begin to take lump-sum distributions from workplace retirement plans, a new generation of products has emerged to help them meet the retirement income challenge. In this article, the authors analyze conventional strategies as well as new ways to translate lump-sum savings into a stream of income in retirement. Source: Vanguard Center for Retirement Research , May 2010. Click on headline to read full article.

Do 401k Plans Need More Bond Funds? - Summary: The looming retirement of the baby boom generation has heightened concerns among plan sponsors about inadequate exposure to fixed income markets in 401k plans. to address these concerns, some sponsors are considering increasing the number of bond fund options in their plan lineups, including options that offer targeted exposure to narrower segments of the bond market. Source: Vanguard, May 2010. Click on headline to read full article.

Shift Away From Traditional Pension Plans Continues - Summary: The number of large U.S. companies that are replacing their traditional defined benefit plans with account-based retirement plans for new salaried employees continues to increase, according to a new analysis by Towers Watson. Account-based plans include defined contribution plans, such as 401k plans, and hybrid pension plans, typically cash balance plans. Source: Towers Watson, May 2010. Click on headline to read full article.

New EFAST2 Filing Option - Summary: The DOL has announced a new option for filing returns under EFAST2. The new option provides an alternative that may be particularly useful for employers which lack Internet access, or which do not wish to be bothered with electronic filing. Source: SunGard/Relius, May 2010. Click on headline to read full article.

A New IRS Initiative - The 401k Plan Compliance Check - Summary: It is anticipate that the IRS will use the compliance questionnaire to develop a more focused examination program in the future. to better position themselves for enhanced audit activity, companies whose 401k plans have not been selected to complete the compliance questionnaire may want to perform their own compliance check, perhaps using the questionnaire as a guide, and correct any identified errors through the IRS voluntary correction programs. Source: PricewaterhouseCoopers LLP , May 2010. Click on headline to read full article.

401k Compliance Questionnaire May Trap Unwary Plan Sponsors - Summary: As part of a recent IRS compliance initiative, 1,200 sponsors of 401k plans will soon be asked to complete a lengthy Questionnaire. Before actually responding, however, an employer would be wise to seek legal counsel. Many of the questions on the Questionnaire go beyond the scope of the 401k plan. Source: Spencer Fane Britt & Browne LLP, May 2010. Click on headline to read full article.

New Analysis Reveals Keys to Retirement Plan Success - Summary: As financial professionals and their employer clients focus on helping American workers recoup market losses and rebuild retirement savings, a new report analyzes which factors help the most—and it's not investment performance. Source: Principal Financial Services, May 2010. Click on headline to read full article.

How Does Your 401k Match Up? - Summary: This article was written for the purpose of giving a better understanding of 401k plans and how your plan stacks up against other savings and thrift plans. Source: U.S. Bureau of Labor Statistics, May 2010. Click on headline to read full article.

Supreme Court Sets Standard for ERISA Attorney Fees - Summary: The U.S. Supreme Court has set a new standard for litigants suing under Section 502(g)(1) of the Employee Retirement Income Security Act (ERISA) to be awarded attorneys' fees. Source: Plansponsor.com, May 2010. Click on headline to read full article.

Journey Well, Arrive Better - Redefining DC Investment - Summary: Defined contribution plans require significant re-engineering if they are to better serve millions of individuals worldwide who were exposed to its failings during the financial crisis according to this Towers Watson publication. The publication reveals why employees have felt the full force of investment risks and exposes the many weaknesses which fiduciaries need to address to restore trust in DC. Source: Towers Watson UK, May 2010. Click on headline to read full article.

Building a DC Investment Menu in a Changing Risk Environment - Summary: The DC Committee discharges its fiduciary responsibility through the due diligent process of authorizing an investment menu for use by participants. It is important to consider the changing environment of investing when making investment menu decisions. This article will discuss the fact that the inclusion of inflation hedging funds, global asset allocation funds, and other options that have not been standard DC plan offerings may be appropriate. Source: NAGDCA , May 2010. Click on headline to read full article.

Target-Date Funds: Missing the Target and Hitting the Fiduciaries? - Summary: Target-date funds are not as simple as often presented by the fund providers and must be carefully examined by plan fiduciaries to protect plan participants and prevent potential liability. Source: Drinker Biddle & Reath LLP , May 2010. Click on headline to read full article.

401k Stock Drop Settlement on the Table for Boston Scientific - Summary: There's a potential settlement in sight for participants in a 401k stock drop suit. Source: Plansponsor.com, May 2010. Click on headline to read full article.

401k Fee Disclosure Provisions of H.R. 4213 - Summary: Provisions included in H.R. 4213 regarding fee disclosure were based on the 401k Fair Disclosure and Pension Security Act, which was authored by Chairman Miller and approved by the Education and Labor Committee last year. Source: House Education and Labor Committee, May 2010. Click on headline to read full article.

COMMENTARY: DOL's Proposed Regulation on Advice - Summary: The advice regulations do not address the most important invest. advice that participants need and most of them are not getting, which is how much to save. In addition, this advice could be generated by a computer model created by pension actuaries and would not require costly personalized advice. Source: Retirement Solutions LLC, May 2010. Click on headline to read full article.

DOL Provides New E-Signature Option - Summary: The DOL has announced a new e-signature option for filing Form 5500 under EFAST2. Notably, the DOL has not relaxed its prohibition on PIN-sharing. Source: Employee Benefits Institute of America, May 2010. Click on headline to read full article.

Push for Fiduciary Standard Fading in Senate - Summary: After more than two weeks of debate on a comprehensive financial-regulatory-reform bill, it looks as if the Senate will not act on fiduciary-standards amendments. Source: Investmentnews.com (free registration may be required), May 2010. Click on headline to read full article.

IRS Announces 401k Compliance Check Questionnaire Project - Summary: Plan sponsors selected for the 401k Compliance Project will receive a letter that includes a 401k Compliance Check Questionnaire. The Questionnaire is 46 pages long and covers the gamut of 401k plan compliance issues. Source: Lane Powell PC, May 2010. Click on headline to read full article.

Towers Watson Embraces Voluntary Lifetime Income Options in DC Plans - Summary: The U.S. legislative and regulatory framework should facilitate and encourage offering lifetime income options for participants in defined contribution plans, such as 401ks, but the creation of related mandates should be avoided, according to Towers Watson. Source: 401khelpcenter.com, May 2010. Click on headline to read full article.

Federal District Court Dismisses 401k Excessive Fee Litigation - Summary: In Renfro, et al. v. Unisys Corp., et al., the U.S. District Court for the Eastern District of Pennsylvania granted defendants' motions to dismiss claims under ERISA challenging the fees charged to a large 401k plan. Source: Goodwin Procter LLP, May 2010. Click on headline to read full article.

IRS Rules Will Ease Employee Sales of Company Stock in 401ks - Summary: Most 401k plans must allow participants to sell company stock and reinvest the assets at "periodic, reasonable opportunities" and no less frequently than quarterly, under new regulations. The regulations, issued Wednesday by the Internal Revenue Service, aren't likely to make employees sell off their company stock, however. Source: Wall Street Journal, May 2010. Click on headline to read full article.

Target-Date Funds Not a Total Retirement Solution - Summary: Target-date funds are being marketed as a total retirement solution; however, the reality is that investors are using them as a small part of their overall retirement plan. In a new study, "Rethinking Lifecycle Funds," Financial Research Corporation takes a closer look at the myths and realities of target-date and target-risk funds. Source: 401khelpcenter.com, May 2010. Click on headline to read full article.

IRS Issues Final Regs on Diversification Requirements for Company Stock - Summary: The Internal Revenue Service is issuing final regulations under section 401(a)(35) of the Internal Revenue Code relating to diversification requirements for certain defined contribution plans holding publicly traded employer securities. Source: Planadviser.com, May 2010. Click on headline to read full article.

Employer Not Required to do Hardship Withdrawal Disclosure - Summary: The Bank of America Corp. was under no obligation to provide detailed disclosures about its 401k plan hardship withdrawals, District Court rules. Source: Plansponsor.com, May 2010. Click on headline to read full article.

COMMENTARY: 401k Suitability or Fiduciary? - It's a Big Deal! - Summary: The majority of the public does not understand the two different rules under which financial advisors operate. Failing to be aware of this difference can have negative financial impacts. Source: 401khelpcenter.com, May 2010. Click on headline to read full article.

IRS 401k Compliance Questionnaires Issued - Summary: The IRS has initiated a 401k compliance review by sending questionnaires to 1,200 plan sponsors. This is the first time that the IRS has undertaken such an initiative. The IRS intends to use the information gathered from the compliance questionnaires to gauge plan compliance and to gain a better understanding of how to address any noncompliance trends. Source: Morgan, Lewis & Bockius LLP , May 2010. Click on headline to read full article.

Three Critical Fiduciary Duties Every ERISA Plan Sponsor Must Know - Summary: Now is a great time for ERISA Plan Sponsors (as well as those who provide investment advice to ERISA plans or participants), to familiarize themselves with the nature of fiduciary duties. Source: Fiduciarynews.com, May 2010. Click on headline to read full article.

Small-Business Employees Often Left Out of Savings Plans - Summary: The gulf between large and small company benefit offerings is stark, the report highlights. Seventy-two percent of employees at small businesses said their companies did not offer any program, while 78 percent of workers at larger companies did have access to them. Source: Business First of Columbus, May 2010. Click on headline to read full article.

COMMENTARY: Retirement Plan Fees in Spotlight. What Should be Next? - Summary: The Department of Labor is readying some new regulations that will require better disclosure of plan fees. But the hope is that this isn't a One-and-Done case. There's a lot more wrong with 401ks that needs fixing. Source: CBS MoneyWatch, May 2010. Click on headline to read full article.

Big 401k Mistakes That Sap Savings - Summary: A new look at retirement trends by the human resources consulting firm Hewitt Associates shows that both inertia and strategic mistakes take a toll when it comes to planning for a secure retirement. Neither the market losses of 2008 nor the robust rally of 2009 have motivated workers to make their 401k plans their top priority. Source: Thestreet.com, May 2010. Click on headline to read full article.

Outline of 401k Fee Litigation - Summary: Over the past several years, more than two dozen lawsuits have been filed relating to 401k plan fees and, more specifically, "revenue sharing" arrangements with plan service providers. This is an outline of current litigation and background information. Source: Groom Law Group , May 2010. Click on headline to read full article.

401k Fee Litigation May 2010 - Summary: The focus of these lawsuits against the plan sponsors has evolved over time to include broader challenges to, among other things, the plan sponsors' selection of actively managed mutual funds as plan investment options. Source: Groom Law Group , May 2010. Click on headline to read full article.

401k Balances Up 55 Percent in One Year from 2009 Market Bottom - Summary: Fidelity Investments released 401k highlights from the first quarter of 2010 that showed strong account balance growth and performance for participants that stayed the course over the past 12 months of market recovery. Source: 401khelpcenter.com, May 2010. Click on headline to read full article.

IRS Retirement News for Employers: Spring 2010 - Summary: This edition contains articles such as: 401k Questionnaire Coming to 1,200 Employers; Upcoming 5500 Filing Deadline; Small Business Week; Improper Forfeiture Suspense Accounts; IRS Employee Plans Videos; Save the Date for Our Nationwide Tax Forums!; New Profit Sharing Publication; Who Can Represent a Plan Sponsor During an Employee Plans Examination?; DOL News; and more. Source: IRS , May 2010. Click on headline to read full article.

403(b)s Embracing 401k Standards - Summary: Contrary to expectation, many 403(b) plans--particularly those in the private non-profit space--have actually made it a point to embrace a boatload of complex regulations from the U.S. Treasury Department and the Internal Revenue Service that came at them in 2007 and as a result, are starting to increasingly resemble their 401k counterparts. Source: Investmentadvisor.com, May 2010. Click on headline to read full article.

Swell in 401k Specialists' Seeking Out 'Progressive' Broker-Dealers - Summary: Advisers who specialize in the 401k market have been switching broker-dealers in search of firms they feel are better equipped to handle their growing business — and new government pension regulations. Source: Investmentnews.com (free registration may be required), May 2010. Click on headline to read full article.

Target Target-Date Risk Much Earlier, Says Research Firm - Summary: The Financial Research Corp. is recommending that target-date funds sharply curtail riskier investments well before they approach maturity — based on the assumption that investors will roll over their assets. Source: Investmentnews.com (free registration may be required), May 2010. Click on headline to read full article.

BofA Merrill Lynch Sees Uptick in Participant Contributions, Use of Advice - Summary: Bank of America Merrill Lynch's Retirement & Benefit Plan Services quarterly report of activities within its proprietary 401k plan business shows an increase in total plan assets to $85.8 billion from $82 billion as of year-end 2009 due to market recovery, increased contributions by participants, and new business commitments. Source: Plansponsor.com, May 2010. Click on headline to read full article.

DOL Amicus Brief in Lingis v. Motorola - Summary: The district court erred in holding that ERISA section 404(c) immunized the fiduciary Defendants from liability for imprudence in selecting and maintaining plan investment option simply because the Plan offered nine investment options. Section 404(c), and its implementing regulation make clear that fiduciaries escape liability only for plan losses that result from control exercised by plan participants and beneficiaries. The large losses that the Plaintiffs allege the Plan suffered here did not result from the participants' exercise of control under the 404(c) regulation, but rather from the fiduciaries' imprudence in offering company stock that was unduly risky because of nearly $2 billion in undisclosed corporate debt. Source: U.S. Department of Labor, May 2010. Click on headline to read full article.

Retirement Debate Focuses on Annuities - Summary: The steady evaporation of pensions, the asset-sucking sting of the recession and the prospect of Americans living deeper into their retirement years is driving insurers and the government alike to ratchet up a push for annuity products. Source: Thestreet.com, May 2010. Click on headline to read full article.

Most Workers Woefully Unprepared for Retirement - Summary: Twenty-seven percent of employees have less than $1,000 in savings, according to the Employee Benefit Research Institute's annual retirement survey. More than half of respondents say their total value of household savings and investments is less than $25,000. The survey results present a strong case for automatically enrolling participants in plans and automatically escalating contribution rates. Source: Workforce.com (free registration may be required), May 2010. Click on headline to read full article.

Roth 401ks, Roth IRAs and 2010 Roth Conversions - Summary: The year 2010 is important for Roth conversions for a few reasons – the elimination of income limits on conversions and the anticipated "sunset" of Bush administration tax cuts. This article reviews key factors underlying participant decisions about Roth conversions. Source: Aon Consulting , May 2010. Click on headline to read full article.

IRS 401k Compliance Check Questionnaire Project - Summary: This IRS project will contact a random sample of 1,200 401k plans that filed a Form 5500 for the 2007 plan year. Plan sponsors who receive a letter will complete a questionnaire by accessing an easy-to-use website. This is the paper copy of the online 401k Compliance Check Questionnaire. Source: IRS , May 2010. Click on headline to read full article.

A Comparison of Responses to the 2010 Invest. Advice Rule - Summary: The deadline for submitting comments to the DOL on the 2010 Invest. Advice Rule was May 5th and sixty-eight comment letters were submitted by individuals or organizations. The expectation is that the comments will be analyzed in short order and the final rule published later this year. to get an idea of how the final rule might go, this article looks at two of the comment letters submitted. Source: Fi360.com, May 2010. Click on headline to read full article.

COMMENTARY: Why Employers With 401k Plans Should Hire Actuaries - Summary: The Obama Administration has taken a step in the right direction by getting more employees to enroll in the plans. The least they can do is give Americans access to the math whizzes who help make pensions work in this country. If we choose to stick with the status quo, retirement is not an option for most Americans. Source: Contingenciesonline.com, May 2010. Click on headline to read full article.

DOL Grants ASPPA Requested Relief on EFAST2 - Summary: The relief provided will be extremely beneficial, particularly to small employers who are challenged by the new mandatory electronic filing system. The revised procedures will reduce the cost and burden to plan sponsors, while ensuring the accuracy and integrity of the annual report. Source: 401khelpcenter.com, May 2010. Click on headline to read full article.

COMMENTARY: Are Democrats Plotting to Steal Your 401k? - Summary: The Department of Labor has issued a "request for comment" on what they can do to encourage more people to annuitize their 401ks, rather than actively managing personal investments. The responses are due out soon, and somehow Republicans have turned this into a worry that Democrats are plotting to get their hands on our retirement savings. Source: The Atlantic, May 2010. Click on headline to read full article.

GOP, Dems Clash Over Modifying 401k Plans - Summary: The 401k plan has become a political football. Some Republicans have created a mashup of ideas leaving the impression the federal government wants to take over your 401k account. Democrats deny that notion. Source: San Francisco Chronicle, May 2010. Click on headline to read full article.

Behind-the-Scenes Battle Raging In Congress Over Fiduciary Amendment - Summary: As the Senate wades through scores of amendments to legislation on financial regulatory reform, lobbying for and against applying a fiduciary standard to broker-dealers has reached a fever pitch. Source: Investmentnews.com (free registration may be required), May 2010. Click on headline to read full article.

IRS Asking Employers to Answer 401k Questionnaire: Handle With Care! - Summary: The IRS announced last week that it will be looking at 1,200 401k plans by way of a plan compliance questionnaire. Letters from the IRS are expected to go out at the end of May. An employer receiving a letter should handle it with care. Source: Fisher & Phillips LLP, May 2010. Click on headline to read full article.

Retirement Income Adequacy at Large Companies - Summary: This report assesses projected retirement resources at retirement versus financial needs during retirement, using actual data of more than two million employees. Source: Hewitt Associates , May 2010. Click on headline to read full article.

DOL/SEC Issue Target-Date Fund Guidance - Summary: The DOL and the SEC jointly issued an "Investor Bulletin" to investors and plan participants regarding target-date funds late last week. The purpose of the guidance is to assist investors and participants in understanding the operations and risks of investing in target-date investment funds and is the first of several target-date fund-related projects under development. The Bulletin is discussed here. Source: Groom Law Group , May 2010. Click on headline to read full article.

Basic Requirements and Best Practices for Today's Plan Sponsors - Summary: This paper provides guidance to help plan sponsors understand their role as a fiduciary, highlights strategies to minimize fiduciary and compliance risk, and discusses the resources and services that a service provider can offer to help them. Source: TIAA-CREF , May 2010. Click on headline to read full article.

Compliance Checklist 2010 - Summary: This Checklist is a quick glance resource to help you meet plan reporting and disclosure requirements for DB, DC and 403(b) plans subject to the reporting and disclosure requirements of ERISA. This easy-to-follow Checklist should help you provide timely and complete information to individuals and appropriate government agencies. Source: Prudential Retirement , May 2010. Click on headline to read full article.

Form 5500-EZ Available - Summary: 2009 Form 5500-EZ is now available on the IRS website. Source: IRS , May 2010. Click on headline to read full article.

The 401k Audit: How to Stay Out of the DOL Spotlight - Summary: Slides from presentation by Bill Sims CPA and Michael Lawrance CPA, Salmon Sims Thomas, on 401k audits: Why is the audit so important?, Auditor's Role, Scope of Testing, and Auditor Selection. Source: Salmon Sims Thomas , May 2010. Click on headline to read full article.

Retirement-Plan Options for Business Owners - Summary: Many small-business owners believe that their businesses will furnish a comfortable retirement for them. As golden years approach, they anticipate selling their nest egg and living off the proceeds. This may account for the fact that retirement plans are severely underutilized by business owners. Source: Wall Street Journal, May 2010. Click on headline to read full article.

Voluntary Enrollment Spurs Target-Date Funds' Surging Popularity - Summary: According to Target-date fund adoption in 2009, a new research note from the Vanguard Center for Retirement Research, target-date funds were offered by 75% of Vanguard-recordkept defined contribution plans in 2009. This is a remarkable increase from just five years earlier. In 2004, only 13% of our DC plans offered target-date funds. Source: Vanguard, May 2010. Click on headline to read full article.

2010 403(b) Plan Survey Highlights - Summary: Findings of the just-released 2010 403(b) Plan Survey from the Profit Sharing/401k Council of America indicate that plan sponsors are adjusting well to the new regulations imposed by the IRS and that participation and retirement account balances remain high. This page contains highlights of the survey. Source: Profit Sharing/401k Council of America, May 2010. Click on headline to read full article.

Stop Playing Hide-and-Seek With Lost Plan Participants - Summary: Lost participants can have significant negative impacts on employer sponsored plans, including the potential for increasing the administrative expenses; increasing exposure to fiduciary liability due to lack of investment direction; delaying plan termination and subjecting plans to large plan audit threshold due to the number of participants. It's a game of hide-and-seek that's definitely not in a mobile employee's best interest to win in terms of misplaced retirement income. So what's a plan sponsor to do? Source: 401ktalk.com , May 2010. Click on headline to read full article.

Labor Department Takes First Step in Regulation of Target-Date Funds - Summary: Recently released federal guidance regarding target-date funds was just the first step in a process that eventually will include regulations for the investments, a Labor Department official said. Source: Workforce.com (free registration may be required), May 2010. Click on headline to read full article.

Republicans Warn Against Change to 401k Policy - Summary: Republican lawmakers in the U.S. House of Representatives warned the Obama administration not to adopt any policies that could modify tax breaks generally provided to 401k-type plans. Article and extensive comments. Source: Wall Street Journal, May 2010. Click on headline to read full article.

Regulation Forthcoming On 401k Invest. Advice - Summary: The DOL hopes to move forward with a regulation on investment advice for individual account plans, such as 401ks, within the next few months, said Phyllis Borzi, assistant secretary of labor for the Labor Department agency. Source: Wall Street Journal, May 2010. Click on headline to read full article.

The U.S. Retirement Market, 2009 - Summary: This new 40 page report presents detailed information on total retirement assets and mutual fund holdings in retirement accounts. It is organized into two broad sections: (1) narrative and data that highlight recent developments in the U.S. retirement market and (2) an appendix with additional data. Source: Investment Company Institute , May 2010. Click on headline to read full article.

COMMENTARY: 401k Fees That Shouldn't Matter - Summary: Too many accept the definition of "fees" without deliberation. Yet, even by looking solely at the fees associated with investment choice, the fiduciary can land in a state of confusion. This only increases liability. How can we fix this? Source: Fiduciarynews.com, May 2010. Click on headline to read full article.

Investor Bulletin: Target-Date Retirement Funds - Summary: Because target-date funds are often available through 401k plans, the U.S. Department of Labor is providing this simplified discussion of target-date retirement funds for purposes of general information. Source: U.S. Department of Labor , May 2010. Click on headline to read full article.

COMMENTARY: Don't Let Over Legislation Undo 30 Years of 401k Fruitfulness - Summary: Only very recently have DC plans begun to take a bad rap. Lots of questions have been raised about whether 401k plans, in their current form, can adequately provide retirement income for employees. The concern about this on the part of some has led to the current trend to begin treating DC plans like DB plans. Source: Employee Benefit News (free registration may be required), May 2010. Click on headline to read full article.

COMMENTARY: 401k Plans Must Adapt to New Economic Realities - Summary: If you had it to do all over again, how would you do it differently? Let's pretend that you putting in a 401k plan for the first time. And if it is the first time, here are some things you can consider. Source: Employee Benefit News (free registration may be required), May 2010. Click on headline to read full article.

Have You Calculated Your Retirement Savings Needs? - Summary: Instead of doing a systematic retirement needs calculation, many workers simply guess at how much they will need to accumulate. Source: Employee Benefit Research Institute , May 2010. Click on headline to read full article.

CFOs, Treasurers Should Prepare for Big Changes in Money Market Funds - Summary: The SEC has instituted new rules about maturities of fund holdings, types of holdings, amount of liquidity, and the way in which funds report the value of their holdings to the public. Shadow NAV could fall below $1. Does this fit in your investment policy guidelines? Source: Association for Financial Professionals, May 2010. Click on headline to read full article.

Target-Date Fund Selection Compliance Assistance Checklist - Summary: DOL plans to enhance retirement security by publishing compliance assistance guidance to plan sponsors regarding the evaluation and selection of target-date funds as retirement plan investment options and investment choices for employees. Source: U.S. Department of Labor, May 2010. Click on headline to read full article.

New Rules, Guidance Coming on Target-Date Funds - Summary: Many employers that sponsor retirement plans will be required to provide plan participants with more detailed information about target-date funds, the Department of Labor announced. Source: Thompson, May 2010. Click on headline to read full article.

ASPPA Urges House to Oppose Doggett Proposal - Summary: Statement from Brian Graff, executive director/CEO of ASPPA, in response to a proposal by Representative Lloyd Doggett (D-TX) of the U.S. House of Representatives calling for further regulations of retirement plans used by small business. Source: ASPPA , May 2010. Click on headline to read full article.

ASPPA's Response to the 2010 Invest. Advice Proposed Rule - Summary: ASPPA responds to the U.S. Department of Labor's recent regulation on invest. advice and urges DOL that core fiduciary values should override a dictation of theories. Source: ASPPA , May 2010. Click on headline to read full article.

Confidence Stabilizing, but Preparations Continue to Erode - Summary: Worker confidence about paying for basic expenses in retirement has rebounded slightly, with 29 percent now saying they are very confident about having enough money to pay for basic expenses during retirement, but fewer workers report that they and/or their spouse have saved for retirement. Source: Employee Benefit Research Institute , May 2010. Click on headline to read full article.

ASPPA's Response to the RFI on Lifetime Income Options for Participants - Summary: These comments were prepared by the ASPPA Task Force on Lifetime Income Options for Participants and Beneficiaries, Chair Bruce Ashton, and provide comments and suggestions on those questions for which the expertise and experience of ASPPA members is relevant. Source: ASPPA , May 2010. Click on headline to read full article.

The SPARK Institute's Response to the RFI on Lifetime Income Options for Participants - Summary: Significant barriers to lifetime income products exist. Plan sponsors are reluctant to offer these solutions, creating a lack of access for millions of plan participants, largely due to concerns about fiduciary standards. The DOL can help mitigate plan sponsor's fears by providing broad, permissive and clear guidance. Source: The SPARK Institute , May 2010. Click on headline to read full article.

PSCAs Response to the RFI on Lifetime Income Options for Participants - Summary: The lack of participant interest, combined with the increased complexity and fiduciary responsibilities involved in offering an annuity, results in a low level of interest among PSCA members in either offering a traditional annuity product or seeking regulatory relief to facilitate offering this product. Source: Profit Sharing/401k Council of America , May 2010. Click on headline to read full article.

A Case of Murder and Retirement Money - Summary: As Individual Retirement Accounts and 401ks become prevalent, questions arise in homicide cases. For instance: When someone is in line to inherit someone else's retirement money and speeds up the process–through murder–is he still the beneficiary? Source: Wall Street Journal Blog, May 2010. Click on headline to read full article.

15.7 Times Final Pay Needed for Retirement Readiness - Summary: The average U.S. employee will need 15.7 times their final pay in retirement resources to maintain their current standard of living during retirement, according to a new Hewitt Associates analysis. Source: Plansponsor.com, May 2010. Click on headline to read full article.

Cracking Down on Plan Fees - Summary: Fee structures are complex, but by pushing vendors to specify who gets what out of precious 401k plan assets, CFOs can gain valuable leverage. Source: CFO.com, May 2010. Click on headline to read full article.

Employers Miss Central Role in Helping Employees Achieve Retirement Security - Summary: Wells Fargo Institutional Retirement and Trust released the results of a survey that shows the majority of U.S. companies have not adapted to their increasingly central role in helping Americans achieve a secure retirement through company-sponsored 401k plans. Source: 401khelpcenter.com, May 2010. Click on headline to read full article.

Correction for the Exclusion of an Eligible Employee From a 401k - Summary: The correction method under the IRS' Employee Plans Compliance Resolution System equal to the average of the actual deferral percentage for either the non-highly compensated employees or of the Highly Compensated Employees depending on which group the employee was a member of during the time the employee was incorrectly excluded from the plan. Source: McKay Hochman, May 2010. Click on headline to read full article.

Correcting Excess Deferrals - Summary: An updated overview of how and when to distribute excess deferral and income from a plan. Source: McKay Hochman, May 2010. Click on headline to read full article.

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