401k: Do It Even Without a Match - Summary: Even if your employer doesn't offer any matching funds for your 401k account, it's still tough to beat as a spot for your retirement savings. Located at: CNNMoney.com, July 2007. Click on headline for full article.

Sexy Hedge Funds Make Their Way Into Retirement Plans - Summary: A number of mutual fund companies have launched hedge-like mutual funds, sparking employers’ interest in adding the investments to their 401k plans. But employers need to do their homework first, experts say. Located at: Workforce.com (free registration may be required), July 2007. Click on headline for full article.

PSCA Summary: The 401k Fair Disclosure for Retirement Security Act - Summary: This is a three page summary of "The 401k Fair Disclosure for Retirement Security Act of 2007," HR 3185, prepared by the Profit Sharing/401k Council of America, a nonprofit association advocating increased retirement security through profit sharing, 401k and related defined contribution programs. Located at: Profit Sharing/401k Council of America , July 2007. Click on headline for full article.

401k Plan Asset Allocation, Account Balances, and Loan Activity in 2006 - Summary: This report is an update of EBRI and ICI's ongoing research into 401k plan participants' activity through year-end 2006. The report is divided into five sections: The first describes the EBRI/ICI 401k database; the second focuses on changes in participant account balances over time, analyzing a group of consistent 401k participants; the third presents a snapshot of participant account balances at year-end 2006; the fourth looks at participants' asset allocations; and the fifth looks at participants' 401k loan activity. Located at: Investment Company Institute , July 2007. Click on headline for full article.

DB Plan Freezes Lose Momentum, While DC Saving Rates Rise - Summary: Big businesses have put the kibosh on freezing defined benefit plans at time when 401k savings rates have jumped, according to new research by industry analysts. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

Managed Accounts: A New Direction for 401k Plans - Summary: A growing number of companies are beginning to offer employees professionally managed accounts for 401k assets. A major factor in employees' decision to use managed accounts will be the fees charged for this service, which are generally paid by employees out of their plan assets. For that reason, plan sponsors should make sure the fees are in line with what the market is offering. Located at: Journal of Accountancy, July 2007. Click on headline for full article.

Is There Really a Retirement Savings Crisis? - Summary: More realistic assumptions regarding earlier retirement and reluctance to annuitize 401k balances or tap housing equity would put the percentage 'at risk' considerably higher, as would the inclusion of rapidly growing health care costs. Yet, recent academic articles and press stories question whether Americans are facing a retirement income crisis. Located at: Center for Retirement Research at Boston College , July 2007. Click on headline for full article.

COMMENTARY: Fee Disclosure to Plan Participants, a "Necessary" Evil? - Summary: Are plan participants entitled to the same level of fee information as plan sponsors. The author thinks not because this kind of information would likely overwhelm participants with information that is not needed to make informal investment decisions. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

An Obligation for 401k Participation - Summary: Do fiduciaries have an obligation, or legal duty, to educate employees about participation in deferral-based retirement plans, like 401ks and 403bs? Yes, but the full extent of that obligation is not clear according to Fred Reish. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

Summary: The 401k Fair Disclosure for Retirement Security Act of 2007 - Summary: This is a one page summary of "The 401k Fair Disclosure for Retirement Security Act of 2007" which was prepared by the U.S. House Education and Labor Committee. Located at: U.S. House Education and Labor Committee , July 2007. Click on headline for full article.

Yet Another Committee to Hold Hearings on 401k Fees - Summary: With the ink barely dry on a new bill regarding 401k fee disclosures, another House Committee is gearing up for hearings on the issue. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

Legislation Would Shed Light on Investment Fees - Summary: The latest effort to make the 401ks more transparent is being led by Rep. George Miller, who introduced legislation that would require plans to reveal more information about fees and conflicts of interest. Located at: Workforce.com (free registration may be required), July 2007. Click on headline for full article.

The Duty to Remove Investments - Summary: This article explores the legal responsibility to remove investments when they are no longer prudent and suitable for a participant-directed plan. In examining that duty, the authors first review the scope of the duty, then briefly review the duties of fiduciaries generally, and close with an analysis of the investment issues. Located at: Reish Luftman Reicher & Cohen , July 2007. Click on headline for full article.

Adding to 401k Benefits, Survey Finds Out About Sponsors - Summary: Competitive retirement benefits, including 401k plans, are among the top 10 considerations for employees when choosing employers, and are even more important for individuals ages 50 and over. Located at: Careerjournal.com, July 2007. Click on headline for full article.

IRS Officially Eliminates Schedule P of Form 5500 - Summary: The IRS has announced that Schedule P of Form 5500 has been eliminated for 2006 and later years. The filing of a plan's Form 5500 will be treated as an annual return by the plan's trust and the trust's statute of limitations period will start on the later of the date the Form 5500 is required to be filed or the date it is actually filed. Located at: Buck Consultants , July 2007. Click on headline for full article.

COMMENTARY: Soft-Dollar, Trading Costs Devour Fund Returns - Summary: Once you pull the curtain away from an actively managed mutual fund, you won't like what you see if you are able to tally total expenses. Located at: Bloomberg.com, July 2007. Click on headline for full article.

Firms Gradually Adopt Auto-enrollment to Boost Savings - Summary: Congressman George Miller (D-CA) introduced 401k fee disclosure legislation today amid ongoing Department of Labor regulatory work on improving the structure of the defined contribution system. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

Bill Would Require 401k Fee Disclosure - Summary: Congressman George Miller (D-CA) introduced 401k fee disclosure legislation today amid ongoing Department of Labor regulatory work on improving the structure of the defined contribution system. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

New 401k Lets Workers Stand Back - Summary: The hot trend in retirement savings plans is making the 401k run on autopilot. Employees are enrolled automatically. The plan decides how much you should contribute and simply takes the money out of your paycheck. Located at: Fresno Bee, July 2007. Click on headline for full article.

COMMENTARY: Are 401k Investment Committees Protecting Your Assets? - Summary: According to the author, "The bottom line seems to be this: Investment committees, whether by design or not, seem to be doing their jobs. In fact, odds are more than two to one that a 401k investor will own a mutual fund that lands on the top quartile list than the average mutual fund investor." Located at: CNNMoney.com, July 2007. Click on headline for full article.

Summary: 401k Fair Disclosure for Retirement Security Act of 2007 - Summary: This is a two page summary of H.R. 3185, "401k Fair Disclosure for Retirement Security Act of 2007" introduced by U.S. Rep. George Miller (D-CA). Located at: American Benefits Council , July 2007. Click on headline for full article.

Full Text: 401k Fair Disclosure for Retirement Security Act of 2007 - Summary: This is the full text of H.R. 3185, "401k Fair Disclosure for Retirement Security Act of 2007" introduced by U.S. Rep. George Miller (D-CA). Located at: American Benefits Council , July 2007. Click on headline for full article.

COMMENTARY: When a Simpler 401k Is Just Dumb - Summary: Simple isn't always better. In paring choices, companies may be reducing workers' ability to diversify their assets, leaving them exposed to the downdrafts that sometimes roil stocks and bonds simultaneously. Located at: The Arizona Republic, July 2007. Click on headline for full article.

ETFs For Your 401k - Summary: Many retirement practitioners agree that ETFs are better investments than mutual funds for non-retirement assets in most cases. The fees are typically lower, they can be traded like stocks and they may not trigger capital gains for in-kind trades. However, these features may not be ideal for tax-deferred retirement plans. Located at: Forbes, July 2007. Click on headline for full article.

PSCAs Response to the DOLs RFI on Plan Fee Disclosure - Summary: PSCA puts forth three general principles that they believe are critical to any participant disclosure regime. Located at: Profit Sharing/401k Council of America , July 2007. Click on headline for full article.

The U.S. Retirement Market, 2006 - Summary: Total U.S. retirement accumulations reached $16.4 trillion in 2006, an 11 percent increase over 2005, according to this Investment Company Institute report. Retirement assets now account for nearly 40 percent of all U.S. household financial assets, compared with 24 percent two decades ago. Located at: Investment Company Institute , July 2007. Click on headline for full article.

A Response to the DOLs RFI on Plan Fee Disclosure - Summary: Twelve organizations representing both employer sponsors of DC plans as well as the financial institutions that provide services to such plans submitted this response to the Request for Information issued by the Department of Labor regarding fee and expense disclosures to participants in individual account plans. Located at: Investment Company Institute, July 2007. Click on headline for full article.

401k Participants' Awareness and Understanding Of Fees - Summary: Despite their lack of knowledge about fees, many plan participants realize they can have a significant impact on their returns, and express a desire to have a better understanding of the long-term impact of fees. Located at: AARP, July 2007. Click on headline for full article.

401k Trading and Portfolio Performance - Summary: Certain types of trading such as periodic rebalancing are beneficial, while high-turnover trading is costly. Interestingly, those who hold only balanced or lifecycle funds, whom we call passive rebalancers, earn the highest risk-adjusted returns. These findings should interest fiduciaries responsible for designing DC pensions and regulators of the retirement saving environment. Located at: Michigan Retirement Research Center, July 2007. Click on headline for full article.

Fidelity Investments Releases Annual 401k Report - Summary: The report shows that despite low penetration of automatic workplace savings programs, employees in plans utilizing auto features are showing significantly greater participation rates, increased savings and more diversified investment allocation. Located at: 401khelpcenter.com, July 2007. Click on headline for full article.

Retirement Accounts Climb to $16.4T - Summary: Americans have accumulated a record $16.4 trillion in retirement accounts, with about half of it in company-sponsored plans like 401ks and in Individual Retirement Accounts, according to a study by the Investment Company Institute. Located at: Forbes, July 2007. Click on headline for full article.

ABC Urges Additional Guidance on Benefits Statement Rules - Summary: The Council's testimony outlined plan sponsors' and service providers' concerns with the regulatory guidance provided so far and offers suggestions. Located at: American Benefits Council, July 2007. Click on headline for full article.

A Primer On Qualified Default Investment Alternative Consulting - Summary: Fiduciaries will benefit the most from using fiduciary consultants that can put this new QDIA opportunity into the context of what is best for participants. This answer will not be a one size fits all approach. In fact, a significant part of the QDIA answer for any particular plan should come from the fit that the default approach has with the plan's overall approach for helping participants to optimize portfolios for meeting their individual objectives. Located at: 401khelpcenter.com, July 2007. Click on headline for full article.

Plan Sponsors Embrace Default Investment Alternatives - Summary: While the Department of Labor has yet to issue final regulations on default options for 401k plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans. Located at: Investmentnews.com (free registration may be required), July 2007. Click on headline for full article.

COMMENTARY: When Target-Date Funds Miss the Mark - Summary: On the surface, so-called target-date mutual funds sound like a great idea. You name the date you plan to retire and select the appropriate fund. That, in theory, is your only decision. Just invest regularly in that one fund, and it does all the rest -- magically rebalancing itself until retirement day. So much for theory. Located at: Thestreet.com, July 2007. Click on headline for full article.

The SPARK Institute Responses to the DOLs RFI on Plan Fee Disclosure - Summary: The SPARK Institute believes that the EBSA should consider the following six guiding principles in developing its participant disclosure guidance. Located at: SPARK , July 2007. Click on headline for full article.

Procedures for Selecting and Monitoring QDIAs - Summary: Plan sponsors have a fiduciary duty to demonstrate that the plan's investment options, including QDIAs, have been prudently selected and monitored. This column outlines the procedures for selecting and monitoring a QDIA. Located at: Investmentnews.com (free registration may be required), July 2007. Click on headline for full article.

DOL Said to Keep Stable Value Off Default Option List - Summary: The Department of Labor has rejected a proposal by the insurance industry to include stable-value funds as a default option for 401k plans, according to industry sources. Located at: Investmentnews.com (free registration may be required), July 2007. Click on headline for full article.

Benefits Experts Weigh in on EBSA Pension Oversight - Summary: The Employee Benefits Security Administration probably doesn't capture the public's attention with the same intensity as the Internal Revenue Service. However, the agency - which ensures proper management of the nation's approximately 30,000 pensions covering some 16 million workers - still carries considerable weight. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

CA Democrat Seen as Important Pension Player - Summary: Anyone who thought Congress was through with pension legislation after last year's Pension Protection Act (PPA) might well be seriously mistaken – at least if one prominent House Democrat has anything to say about it. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

Stable Value QDIAs Draw Concerns - Summary: The current lobbying battle to get stable value options listed as approved default investment options aside, Susan Walton thinks making the addition would be a very bad idea. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

Participant Ed. in the Auto Enrollment Era: Hitting the Basics - Summary: This may go down as the era of auto enrollment, but nothing about that participation-boosting trend means education is any less important to helping employees be successful retirement savers. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

401k Fee Suits: Fending Off The Devil - Summary: For many plan sponsors, providers and advisers these days, the devil has a face and a name – St. Louis attorney Jerome Schlichter. How plan sponsors and advisers can deal with Schlichter - and his fellow plaintiffs' attorneys - was a key topic at a discussion panel on the 401k fee issue at Plansponsor's recent Plan Designs conference. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

ASPPA and CIKR Support Uniform Rules for Disclosure of 401k Fees to Participants - Summary: ASPPA and CIKR jointly recommended that the DOL consider uniform rules for the disclosure of 401k fees and expenses to participants. The comments were included in a comprehensive response filed with the DOL with respect to its Request for Information. Located at: 401khelpcenter.com, July 2007. Click on headline for full article.

What to Do When Retirement Security is Impossible? - Summary: Policy debates about the appropriate risk levels for individual retirement plans and social retirement plans (like social security) often pay insufficient attention to the inescapable trade-off between “payment risk” (the risk of insufficient funding for anticipated benefits) and “short fall risk” (the risk of insufficient benefits for a satisfactory retirement). Thus a "prudent retiree rule" would permit a prudent level of "contingent funding" of retirement payouts. Located at: Social Science Electronic Publishing, July 2007. Click on headline for full article.

New Target in Fee Fracas: 403b Plans - Summary: A prominent class-action firm named Keller Rohrback has filed a purported class action suit against the National Education Association, Nationwide Life Insurance, and Security Benefit. The complaint alleges that NEA, the nation's largest organization of educators, accepted payments from Nationwide and Security Benefit in return for giving them exclusive endorsements as 403b providers. Located at: ERISA Class Action Watch, July 2007. Click on headline for full article.

Supreme Court Rules Merger Is No Way To Terminate a Plan - Summary: The U.S. Supreme Court ruled that a plan merger is not a method of plan termination, so in choosing whether to merge plans or to undergo a standard plan termination, the sponsor is not making a fiduciary decision. Located at: Watson Wyatt Worldwide, July 2007. Click on headline for full article.

IRS Issues Partial Termination Guidance - Summary: The IRS has issued a revenue ruling providing the latest IRS guidelines for determining whether a partial termination has occurred. Rev. Rul. 2007-43 analyzes a factual situation in which an employer ceases operations at one of four business locations, resulting in a 23% reduction in the number of participants in the employer's qualified plan. Located at: Sungard/Relius, July 2007. Click on headline for full article.

RIAs Gaining in Market for Small 401ks - Summary: Registered investment advisers are the fastest-growing distribution channel for mutual-fund-based small-business 401ks. Starting from a small base, they are adding assets at the rate of about 14% a year, according to Boston-based Financial Research Corp. Located at: Investmentnews.com (free registration may be required), July 2007. Click on headline for full article.

Frequently Asked Questions About 401k Plans - Summary: This FAQ on 401k plans is updated annually by the ICI. At year-end 2006, 401k plans held an estimated $2.7 trillion in assets and represented approximately 17 percent of the $16.4 trillion U.S. retirement market. Located at: Investment Company Institute, July 2007. Click on headline for full article.

ICI Sounds Off on 12b-1 fees - Summary: Mutual fund boards should not be required to annually approve 12b-1 fees used by advisers, says the ICI. Located at: Investmentnews.com (free registration may be required), July 2007. Click on headline for full article.

ICI Recommends Refinements to Rule 12b-1 - Summary: The ICI recommended improved disclosure to give shareholders a better understanding of the nature of the fee and clarification of the responsibilities of mutual fund boards in approving and overseeing 12b-1 plans. The Institute also stressed the importance of a rigorous economic analysis of any proposed changes to determine the cost and benefit to investors and the fund industry. Located at: Investment Company Institute, July 2007. Click on headline for full article.

ERIC Submits Comments to EBSA on Plan Fee Disclosure - Summary: ERIC applauds the Department of Labor and EBSA's efforts to improve the quality and effectiveness of participant disclosures in defined contribution plans, and urged the agencies to ensure that plan sponsors are given adequate flexibility to design disclosures that meet their needs and those of their employees without overloading employees with information that is of no value. Located at: ERISA Industry Committee, July 2007. Click on headline for full article.

Experts Track Continuing Evolution of U.S. Pension System - Summary: Change is in the air—once again—for the traditional pension system in the United States. How much change? Where and how will it appear? What is next? Those were some of the questions that the Employee Benefit Research Institute here. Located at: Employee Benefit Research Institute , July 2007. Click on headline for full article.

The SPARK Institute Comments on 12b-1 Fees - Summary: The SPARK Institute says that it and its members are keenly interested in the SEC's deliberations and potential decisions that will be made regarding 12b-1 programs and payments and have therefore filed this comment letter with the SEC. Located at: SPARK , July 2007. Click on headline for full article.

SPARK Says 12b-1 Fees Keep Plan Costs Down - Summary: Retirement services trade group The SPARK Institute asked the Securities and Exchange Commission (SEC) to continue allowing mutual funds to pay 12b-1 fees to retirement services providers, but warned that the fees should be disclosed to participants. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

Enhancing 401k Value and Participation - Summary: Concerns about low levels of 401k participation and the need to make these plans more valuable to support a range of workforce goals have prompted some employers to enhance their plans by adding automatic features, such as automatic enrollment, escalation, rebalancing of investments, and "lifecycle" funds. To help employers better understand recent trends in 401k design and the pros and cons of automating 401k features, AARP commissioned Towers Perrin to prepare this 2007 report focused on midsize and large U.S. companies. Located at: AARP, July 2007. Click on headline for full article.

Collective Funds the Future of 401ks? - Summary: According to a new white paper authored by AST Capital Trust Company, collective funds are experiencing increasing interest from defined contribution plans, including 401k plans. Located at: 401khelpcenter.com, July 2007. Click on headline for full article.

Mandatory Electronic Filing of Form 5500 Delayed - Summary: The Department of Labor has delayed by one year the deadline by which employee benefit plans must file the Form 5500 electronically. Located at: Thompson Publishing Group, July 2007. Click on headline for full article.

Disability Exception to 10% Early Distribution Penalty Doesn't Always Apply - Summary: A medical condition alone does not qualify for the disability exception and that an individual is not disabled if the impairment can be remedied sufficiently so as to allow work. Located at: Employee Benefits Institute of America, July 2007. Click on headline for full article.

IRS Rules That 20% Turnover Rate Creates Presumption of Partial Termination - Summary: Over the years, the benefits community has struggled with the facts and circumstances standard for determining partial terminations. In this ruling, the IRS has adopted the 20% turnover presumption, which has long been the unofficial rule-of-thumb. Located at: Employee Benefits Institute of America, July 2007. Click on headline for full article.

SIMPLE IRA, SIMPLE 401k, Safe Harbor 401k and QACA Comparison Chart - Summary: This is a good comparison chart of these plans which McKay Hochman has just updated. Located at: McKay Hochman, July 2007. Click on headline for full article.

IRS Announcement 2007-63 - Summary: Announcement 2007-63 clarifies the IRS' position on the elimination of the Schedule P, Annual Return of Fiduciary of Employee Benefit Trust (Form 5500). As of 2006 (2005 for Form 5500-EZ), the filing of a Form 5500-series return will replace the Schedule P as the triggering devise for purposes of §6501(g). Located at: IRS, July 2007. Click on headline for full article.

COMMENTARY: Keep Stable Value Funds Out of Auto Enroll - Summary: The author suggests, "Stable value funds might appeal to an employee's desire for safety, but they are not appropriate as a long-term investment for the bulk of a worker's retirement assets." Located at: Investment Company Institute, July 2007. Click on headline for full article.

Federal Policies Offer Mixed Signals about When to Retire - Summary: While many factors influence workers' decisions to retire, Social Security, Medicare, and pension laws also play a role, offering incentives to retire earlier and later. Identifying these incentives and how workers respond can help policy makers address the demographic challenges facing the nation. Located at: Government Accountability Office , July 2007. Click on headline for full article.

Brokers as Fiduciaries - Summary: This article concludes that to be fiduciary advice, the broker's recommendations must contemplate, among other things, investment policies and strategies, portfolio composition, diversification or similar overarching factors. That is, investment recommendations alone are not fiduciary advice and therefore an investment recommendation -standing alone- is not a fiduciary act. Located at: Reish Luftman Reicher & Cohen , July 2007. Click on headline for full article.

Automatic Retirement Savings Deductions Gain Broad Support - Summary: One of the goals of major pension reform legislation Congress approved last year was to get more Americans to save for retirement by allowing companies to automatically enroll employees in savings plans. It appears to have gained broad support. Located at: Workforce.com (free registration may be required), July 2007. Click on headline for full article.

Target-Date Funds: Handle With Care - Summary: Creating customized target-date portfolios might give plan sponsors a cheaper and more flexible default option than target-date mutual funds. Located at: Workforce.com (free registration may be required), July 2007. Click on headline for full article.

Heuristics and Biases in Retirement Savings Behavior - Summary: This paper examines participant behavior in deferral-based, participant-directed retirement plans. It also describes several ways in which, through plan design or investment processes, participants can, with plan sponsor and fiduciary assistance, achieve greater retirement security. Located at: Reish Luftman Reicher & Cohen , July 2007. Click on headline for full article.

Retirement Has Some In a Panic - Summary: Most investors feel prepared for retirement, but a significant number are antsy, nervous and worse, according to a survey conducted by the Securities Industry and Financial Markets Association of New York and Washington. Located at: Investmentnews.com (free registration may be required), July 2007. Click on headline for full article.

How to Tell the Difference Between Financial Education and Advice - Summary: Recent changes to federal law helped employers feel more comfortable providing investment advice to their workers. However, some confusion remains over the legal distinctions between financial education and investment advice, which triggers extra fiduciary responsibilities. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

401k Fee Lawsuits Take a Hit - Summary: A U.S. District Court judge dismissed a lawsuit against Deere & Co. and Fidelity and could put a major dent in the plans of workers and retirees who filed similar suits against several other high-profile corporations. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

Employers Continuing to Cut DB Plans, but Often Add 401k - Summary: A new EBRI survey shows that about two-thirds of "traditional" (defined benefit) pension sponsors have either closed the plan to new hires or frozen it for all participants in the last two years or plan to do so in the next two years. Located at: 401khelpcenter.com, July 2007. Click on headline for full article.

Study Finds More Non-Participants Leaving Employers - Summary: A new survey by a New York consulting firm found that the percentage of workers not in a workplace retirement plan who terminated employment was more than double that of participants. Located at: Plansponsor.com (free registration may be required), July 2007. Click on headline for full article.

Picking 401k Funds Baffling - Summary: Selecting mutual funds for your 401k can feel a lot like ordering unfamiliar food from a foreign menu. You might go the tapas route and try a little of everything, or just pick a dish that sounds good and hope you like it. Located at: Modesto Bee, July 2007. Click on headline for full article.

401k Fee Suits Suffer Setback - Summary: Lawsuits alleging that U.S. major corporations charged excessive fees to 401k participants have hit a big stumbling block. Located at: P&I Online, July 2007. Click on headline for full article.

Crackdown Looms for Consultants - Summary: The Department of Labor and Rep. George Miller, D-Calif., are considering separate efforts to crack down on pension consultant conflicts of interests following a report by the GAO that said undisclosed conflicts could be lowering pension fund investment returns. Located at: P&I Online, July 2007. Click on headline for full article.

Complicated 401k Fees Prompt Lawsuits, Regulation - Summary: Companies that offer 401ks to employees should prepare for more regulations and possibly federal legislation that will affect the plans' administration, observers warn. Located at: MSNBC, July 2007. Click on headline for full article.

The Retirement Savings Crisis Strikes Women Hardest - Summary: The retirement savings crisis in America is widely known by financial professionals, but is only starting to trickle into the consciousness of the public which it will affect most. Within this issue is the alarming reality that women, on average, are saving less than men for a retirement that will start sooner and last longer. Located at: Spectrem Group, July 2007. Click on headline for full article.

COMMENTARY: Other People's Money and QDIAs - Summary: Nevin Adams comments, "IMHO, most of the admonitions to broaden the DoL's proposed QDIA definition to include stable-value choices seem self-serving, at best." Located at: Plan Sponsor Institute Blog, July 2007. Click on headline for full article.

12b-1 Fees Come Under Attack Again - Summary: On the heels of the federal appeals court decision rejecting fee-based brokerage accounts, brokers are facing yet another challenge from consumer advocates who are questioning whether 12b-1 fees are being used illegally. Located at: Investmentnews.com (free registration may be required), July 2007. Click on headline for full article.

Misreading the Tea Leaves: Benefits Misfire for All - Summary: Employee benefits are coming up short for employers and workers, a recent survey from Towers Perrin shows. About 75% of senior managers think their benefits package is not effective at meeting cost control objectives, while 58% indicate their program is not helpful at recruiting workers. Here are some strategies for improving the outcome. Located at: Careerjournal.com, July 2007. Click on headline for full article.

Companies Move to Ward Off Fee Suits - Summary: Defined-contribution plan executives are beefing up disclosure to participants about plan fees well ahead of regulatory guidance expected by the end of the year. Located at: Workforce.com (free registration may be required), July 2007. Click on headline for full article.

Elimination of Schedule P of Form 5500 Series - Summary: The IRS has determined that the continued use of a Schedule P, Annual Return of Fiduciary Benefit Trust, in connection with the filing of a plan's Form 5500 is no longer necessary for the efficient administration of the Internal Revenue laws. Located at: IRS , July 2007. Click on headline for full article.

IRS Provides Clarity on Partial Terminations - Summary: The IRS recently issued Revenue Ruling 2007-43, in which it formally adopts the rule that a partial termination is presumed to occur when at least 20 percent of the participating employees no longer participate in the plan. Importantly, the IRS provides guidelines for determining which participants are counted for this purpose. Located at: Buck Consultants , July 2007. Click on headline for full article.

COMMENTARY: Extreme Makeover: Defined Contribution Plans - Summary: According to the author, "In the past large defined contribution plans overseen by unsophisticated employees with other corporate duties was the norm. At a distance these plans may have seemed adequate. Upon closer scrutiny, its clear they're in need of an extreme makeover." Located at: Benchmarkalert.com, July 2007. Click on headline for full article.

Retirement Plan Disclosure: Ethical Principles and Legal Obligations - Summary: In the author's opinion, there is an excellent prospect of resolving the fundamental issues of inadequate disclosure of all relevant information to 401k plan decision makers and thus avoid potentially unfavorable long-term consequences which participants and beneficiaries would otherwise bear. Located at: Social Science Electronic Publishing, July 2007. Click on headline for full article.

Insurers Target 401k Market for Immediate Annuities - Summary: Insurers are taking aim at the defined contribution market with products that pay workers a fixed monthly income. Located at: Insurancenewsnet.com, July 2007. Click on headline for full article.

Stable Value Default Option Debated - Summary: As the Department of Labor prepares to finalize its proposed regulation on qualified default investment alternatives in 401k plans, the debate rages on as to whether stable value funds should be included as a default option. Located at: Investmentadvisor.com, July 2007. Click on headline for full article.

Evolving Fiduciary Standards for Defined Contribution Plan Sponsors - Summary: This white paper attempts to answer the question, do the recent changes in the defined contribution landscape mean that fiduciary duty standards have evolved to the point where plan sponsors may be required to make significant changes in the designs of their DC plans? Located at: Alliance Bernstein , July 2007. Click on headline for full article.

Opinion Dismissing Deere 401k Fee Suit Creates Split of Authority - Summary: Clearly unimpressed by a complaint, Judge John C. Shabaz adopted a much narrower interpretation of ERISA's fiduciary requirements than is customary in ERISA cases. In the process, he also created a direct split of authority among district courts before whom these excessive fee cases are currently pending. Located at: Spencer Fane Britt & Browne LLP, July 2007. Click on headline for full article.

Class of 401k Plan Participants Certified in "Revenue Sharing" Case - Summary: Two days after entering the certification order, the court in Loomis granted defendants' motion to stay the case pending the anticipated appeal to the Seventh Circuit of the order dismissing all claims in a similar ERISA "revenue sharing" case in Hecker v. Deere & Co. Located at: Sutherland Asbill & Brennan LLP , July 2007. Click on headline for full article.

Encouraging Spanish-speakers' Participation in Retirement Plans - Summary: This article is the third in a four-part series about effectively crafting benefits programs and communications for Spanish-speaking workers. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

SEC Demurs, Yet Again, on 12b-1 Fees - Summary: After a day's worth of discussion among industry executives, regulators, academics and investor advocates about the utility and future of 12b-1 fees, one theme emerged: something should be done. Commission vows to propose 'something,' but offers little consensus. Located at: Financial-planning.com, July 2007. Click on headline for full article.

COMMENTARY: Know When to Hold 'em - Summary: Twenty years after 'the crash,' there still are lessons to learn in staying the course. Located at: Employee Benefit News (free registration may be required), July 2007. Click on headline for full article.

COMMENTARY: Big Ideas for Small Business Retirement Plans - Summary: The retirement plan envisioned by the "Conversation on Coverage" isn't yet available -- it would require changes in the law. But it could help ensure that more workers go into retirement with something besides Social Security. Located at: Washington Post (free registration may be required), July 2007. Click on headline for full article.

PPA Makes Additional Changes to DC Plan Rules for 2008 and Beyond - Summary: This is a detailed overview of specific aspects of the 2006 pension reform legislation (PPA) affecting defined contribution plans that are effective in 2008 and beyond. Located at: Prudential Retirement , July 2007. Click on headline for full article.

What Women Need to Know About Retirement - Summary: WISER, in conjunction with the Heinz Family Foundation, released What Women Need to Know About Retirement, a free e-book available for PDF download. The book includes specifics about paying for healthcare, planning for a lifetime of income, social security and more. Located at: WISER, July 2007. Click on headline for full article.

IRS Addresses Midyear Changes to 401k Safe Harbor Plans - Summary: In Announcement 2007-59, the IRS clarifies that a plan will not fail to be a 401k safe harbor plan merely because of midyear changes to implement a qualified Roth contribution program or the hardship withdrawals relating to a primary beneficiary described in Notice 2007-7. Located at: Watson Wyatt Worldwide, July 2007. Click on headline for full article.

COMMENTARY: "Might" Makes Right? - Summary: Nevin Adams comments on last weeks Government Accountability Office 67-page report titled "Conflicts of Interest Involving High Risk or Terminated Plans Pose Enforcement Challenges." Located at: Plan Sponsor Institute Blog, July 2007. Click on headline for full article.

PPA Expands Distribution and Withdrawal Rights for Non-Spouse Beneficiaries - Summary: The Pension Protection Act expands the rights of non-spouse beneficiaries. Plan sponsors may choose to adopt these expanded rights by making minor modifications to existing plan rules. Located at: McDermott Will & Emery, July 2007. Click on headline for full article.

Staggered Remedial Amendment Period Revenue Procedure - Summary: Revenue Procedure 2007-44 was issued by the Service on June 13, 2007. The revenue procedure clarifies, modifies and supersedes Revenue Procedure 2005-66, in which the Service established a system of remedial amendment cycles under section 401(b) of the Code for individually designed and pre-approved plans. Located at: IRS, July 2007. Click on headline for full article.

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