GAO Recommends Improvements to EBSA, PBGC - Summary: The U.S. Government Accountability Office (GAO) has issued recommendations for improving the monitoring and enforcement of pension laws and regulations by the Labor Department's Employee Benefits Security Administration (EBSA) and has recommended ways for the Pension Benefit Guaranty Corporation (PBGC) to improve its financial stability. Located at: CCH, November 2008. Click on headline for full article.

My Business Can't Afford It — Myths About 401ks - Summary: Most small business owners think that offering 401ks isn't even an option. The very name is intimidating. It sounds like you need a full-time accountant just to set one up. Unfortunately, this is one of the most common — and destructive — misconceptions in the world of small business. Located at: Portsmouth Herald News, November 2008. Click on headline for full article.

Target Date Funds Let You Invest and Forget - Summary: The main benefit of investing in a target date fund is that it increases your investing confidence because you are properly diversified and remain so year after year. Located at: Thestreet.com, November 2008. Click on headline for full article.

VIDEO: Interview With Legendary Investor Jeremy Grantham - Summary: Unedited television interview with GMO Chairman Jeremy Grantham, one of the most successful investors alive today. For years Grantham has been the Cassandra of the investment community warning of financial and market disaster in the future. Now his forecasts have come true and Grantham is cautiously re-entering the market. In his television debut with WealthTrack host Consuelo Mack, he gives his candid views on the financial crisis, economy and markets and advice for individual investors. Located at: Wealthtrack.com, November 2008. Click on headline for full article.

2008 Form 5500 Series Available - Summary: DOL has made available advance copies of the 2008 form 5500 and schedules. They are for informational purposes only. Located at: U.S. Department of Labor, November 2008. Click on headline for full article.

Guidance Regarding ERISA Fidelity Bonding Requirements - Summary: Field Assistance Bulletin No. 2008-04. This FAB reviews ERISA's bonding requirements that are intended to protect employee benefit plans from risk of loss due to fraud or dishonesty on the part of persons who handle plan assets or other property. Located at: U.S. Department of Labor, November 2008. Click on headline for full article.

DC Plan Fees: Do You Really Know What You're Paying? - Summary: This paper reviews global trends in defined contribution plan fee disclosure and fee transparency, and takes a close look at how several countries are tackling this important issue. Located at: Mercer , November 2008. Click on headline for full article.

43% of Employers Offer Financial Education Programs for Their Employees - Summary: A recent survey of employers conducted by the International Foundation of Employee Benefit Plans found that 43% of U.S. respondents offer financial education/literacy programs for their workers. Located at: 401khelpcenter.com, November 2008. Click on headline for full article.

Senators Attack DOLs 401k Advice Rule - Summary: Three senior members of the Senate have written to the Labor Department expressing opposition to its proposed investment advice regulation and class exemption for advice providers. Located at: Insurancenewsnet.com, November 2008. Click on headline for full article.

Only 4% of Workers Have Stopped Contributing to 401k - Summary: The average 401k plan balance is down only 14% this year to $68,000 from $79,000 in 2007, according to Hewitt Associates. And since the precipitous decline in the stock market of the past few months, only 4% of participants have decided to stop contributing. Located at: Financial-Planning.com, November 2008. Click on headline for full article.

Qualified Plans May Require Discretionary or Interim Amendments - Summary: Qualified plan sponsors need to identify, prepare and timely adopt any amendments that may be required for 2008. For a calendar-year plan, discretionary changes that became effective in 2008 must be adopted no later than December 31. Located at: Benefitslink.com, November 2008. Click on headline for full article.

Scrimp on 401k Now, Pay Dearly Later - Summary: While dropping the match can help a company's bottom line, stopping your own contributions will hurt yours. Here's why: Missing out on even a couple of years of contributions now can leave you paying the price in retirement. Located at: Mainstreet.com, November 2008. Click on headline for full article.

Vanguard Report Analyzes Target Date Funds - Summary: The paper analyzes the characteristics of pure and mixed investors and the benefits that target-date funds offer both groups. It assesses the reasons for mixed-target-date adoption, and suggests strategies to encourage more judicious use of target-date funds by these participants. Located at: Vanguard Center for Retirement Research , November 2008. Click on headline for full article.

Americans Continue to Save in 401k Plans Despite Economic Woes - Summary: Despite the recent market upheaval and poor investment returns, employees are staying the course and maintaining a long-term focus on retirement saving by continuing to invest in their 401k plans, according to a new analysis by Hewitt Associates. Located at: 401khelpcenter.com, November 2008. Click on headline for full article.

The Automation of DC Plans - Summary: The Pension Protection Act of 2006 opened the door for private sector employers to take a more commanding role in how their employees save for their retirement future and presents those plan sponsors with a new series of considerations. Article discusses automatic enrollment, auto escalation, and QDIA. Located at: NAGDCA, November 2008. Click on headline for full article.

2008 Year-End Retirement Plan Checklist - Summary: Before we say good bye to 2008 it is important to review your qualified plan to identify any action items which should be addressed prior to the end of the year. The following checklist describes some of the potential year-end items that may be necessary to maintain the tax-qualified status of your retirement plan. Located at: 401khelpcenter.com, November 2008. Click on headline for full article.

Vanguard Managing Director Defends 401k Plans - Summary: Recent hearings before the U.S. House of Representatives Committee on Education and Labor have been critical of DC plans. R. Gregory Barton, managing director of Vanguard Institutional Investor Group, responded to those 401k criticisms in this written statement. Located at: Vanguard , November 2008. Click on headline for full article.

IRS Retirement News for Employers - Fall 2008 Edition - Summary: This edition includes articles such as Help Your Employees Weather the Storm: Hardship Withdrawals and Loans from Retirement Plans; Do the Right Thing Even When Times are Tough!; Is My Plan the Right Plan?; Required Minimum Distribution Reminder; RNE Survey; Failure to Provide a Safe Harbor 401k Plan Notice; 2009 Retirement Plan Limits Announced; and DOL News. Located at: IRS , November 2008. Click on headline for full article.

Financial Crisis Highlights Contrasting Pension and 401k Investment Risks - Summary: Watson Wyatt has analyzed the contrasting investment risks faced by defined benefit pensions and 401k plans during the current financial crisis. The predictable, mainly guaranteed income of pensions (including hybrid plans like cash balance plans) contrasts sharply with the day-to-day fluctuation of 401k account values, which are wreaking havoc on planned retirements. Located at: CCH, November 2008. Click on headline for full article.

Rethinking the 401k - Summary: More and more American's nest eggs are getting picked apart by the financial crisis. Host Tess Vigeland talks with J. Mark Iwry of the Brookings Institution about how the 401k has outgrown its original intent. Located at: MarketPlace, November 2008. Click on headline for full article.

Pensions, 401ks and What's Next - Summary: Host Tess Vigeland asks economist Teresa Ghilarducci how today's plans compare with retirement strategies from the past and some proposed plans for the future. Located at: MarketPlace, November 2008. Click on headline for full article.

403(b) Plans Will Have Fewer Investment Options in 2009 - Summary: As a result of a government regulation that becomes effective next year, many employers who sponsor 403(b) plans will likely reduce the number of providers and investment choices in their plans, as well as put in place restrictions on loans and hardship withdrawals. Located at: Marketwatch.com, November 2008. Click on headline for full article.

DOL Issues Additional Guidance on Investing Benefit and Plan Assets - Summary: The DOL recently issued two new Interpretive Bulletins relating to certain fiduciary implications of investments by employee benefit plans, the first having to do with economically targeted investments and the second relating to the exercise of shareholder rights. Located at: Seyfarth Shaw LLP, November 2008. Click on headline for full article.

403(b) Crunch Time Series #2 - Summary: Second in a series, this article is about complying with the 403(b) contribution limits which are governed by Section 402(g) of the Internal Revenue Code. Located at: Retirement Plan Blog, November 2008. Click on headline for full article.

Navigating Your Way Through Market Turbulence - Summary: Take an in-depth look at how the market volatility may be affecting four common retirement plan types and how retirement plan sponsors can take action. Located at: Principal Financial Group , November 2008. Click on headline for full article.

Asset-Based Fees Under Attack - Summary: The trend can no longer be ignored—asset-based compensation and/or asset-based commissions are under attack. What has been an accepted industry practice for decades has become a point of contention and debate today with legal ramifications that cannot be ignored. Located at: Fiduciary Risk Assessment , November 2008. Click on headline for full article.

How Much Risk is Acceptable? - Summary: This paper takes the first step in exploring the question of how much financial risk in saving for retirement is acceptable. The first section makes the case for a new tier of retirement income. The second section describes the implications of using a defined contribution approach for the new tier. The third section uses a model developed by Gary Burtless to demonstrate that even using target date funds and full annuitization at retirement, a defined contribution approach produces enormous variation in outcomes. The fourth section explores the implications of modifying these fluctuations. The final section concludes. Located at: Center for Retirement Research at Boston College, November 2008. Click on headline for full article.

Announcement from the SEC Regarding Mutual Fund Disclosures - Summary: The SEC voted unanimously to improve mutual fund disclosure by requiring that funds provide investors with a concise summary — in plain English — of the key information they need to make informed investment decisions. Located at: Benefits Blog, November 2008. Click on headline for full article.

The Business Case for 401k Automatic Enrollment - Summary: Companies using automatic 401ks have seen employee participation rates soar (often above 90%) and especially among lower-income and minority workers who are too often left behind. They have found there are at least three sound business reasons for using automatic enrollment. Located at: Retirementmadesimpler.org, November 2008. Click on headline for full article.

2008 End of Year Plan Sponsor "To Do" Lists - Summary: This document contains seven "to do" lists on items that may require plan sponsors to take action before the end of 2008 or in early 2009. Many of the action items are a result of the Pension Protection Act of 2006. Located at: Snell & Wilmer LLP , November 2008. Click on headline for full article.

Plan Sponsors Faring Well in Fee Lawsuits - Summary: Judges dismiss or limit plaintiffs' claims so far and a pair of recent court rulings in major 401k fee lawsuits could be a boon to large corporations that sponsor such plans. Located at: PIonline.com, November 2008. Click on headline for full article.

Roth 401ks Expected to Join the Mainstream - Summary: Employers are adopting Roth 401k savings plans faster than employees are embracing them, but many observers expect the plans to join the mainstream of employer-sponsored retirement packages in the coming years. Located at: Insurancenewsnet.com, November 2008. Click on headline for full article.

ETFs Target Retirement Plans - Summary: The exchange-traded fund industry is stepping up efforts to capture the crown jewel of the mutual-fund business: lucrative 401k retirement-plans. Located at: Marketwatch.com, November 2008. Click on headline for full article.

Chairman Miller Unveils Principles to Preserve and Strengthen 401ks - Summary: Recent hearings held by the committee have shown the devastating toll the economic downturn has leveled on Americans' retirement savings. To help preserve and strengthen 401k and other retirement plans, Chairman Miller released this list of principles. Located at: US Committee on Education and Labor, November 2008. Click on headline for full article.

AUDIO: Retirement Tips For An Economic Crisis - Summary: What are your investment options if you're nearing retirement? Or if retirement's many years away? How can the Great Depression give us perspective on today's crisis? Guest host Lynn Neary talks with Gail MarksJarvis, a personal finance columnist for the Chicago Tribune for survival investment tips. Located at: NPR, November 2008. Click on headline for full article.

Retirement Out of Reach - Summary: With pensions and retiree health benefits largely things of the past -- and financial markets devastating 401ks -- companies are at risk of losing their competitive edge if they become storehouses of embittered older employees who put in only the minimum effort to keep their jobs. Located at: Workforce.com (free registration may be required), November 2008. Click on headline for full article.

It's Crunch Time for 403(b) Plans - Summary: Much has been said and written about the new 403(b) regulations effective January 1, 2009, but most 403(b) plans haven't even started to get ready for compliance. And so it's crunch time for 403(b) plans. Located at: Retirement Plan Blog, November 2008. Click on headline for full article.

Year-End Checkup for Benefit Plans - Summary: This document will help identify general year-end administrative and planning issues that could lead to compliance or employee relations problems if not addressed before, or early in, 2009. In addition, it highlights recent legislative or regulatory developments that may require plan design or documentation changes. Located at: Aon , November 2008. Click on headline for full article.

The Racial Retirement Gap - Summary: A recent survey found that black employees tend to contribute far less to their retirement plans than whites. While increasing educational efforts may help, it's not the total answer. Experts say that addressing this disparity will be anything but simple. Located at: HREonline.com, November 2008. Click on headline for full article.

Are the Credit Markets Improving? - Summary: John Hollyer, head of Vanguard Risk Management and Strategy Analysis, discusses why he's optimistic about the future of the credit markets. Located at: Vanguard, November 2008. Click on headline for full article.

Discover How DOL Advice Initiatives Affect You - Summary: The Department of Labor recently published guidance regarding the provision of investment advice to retirement plan and IRA participants. Find out what these proposed regulations mean to you and your participants. Located at: Vanguard , November 2008. Click on headline for full article.

Confusion Can Lead to Increased Investments in Stocks - Summary: For employees not well-versed in investment strategy, the decisions can be daunting. According to a new research study at the Rutgers School of Business, many employees will simply choose a heavier investment in stocks when confronted with too many options. Located at: Rutgers, November 2008. Click on headline for full article.

How to Reach Out to Clients in Times of Turmoil - Summary: Bankruptcies, bailouts, plunging indexes -- what's next? From living rooms to water coolers, bus stops to the campaign trail, everyone is talking about the market. For financial advisors, these tough and turbulent times mean it's even more important to communicate with clients. Sure, you might agree that you need to reach out, but what will comfort your clients? In a word, perspective. Located at: Morningstar.com, November 2008. Click on headline for full article.

Financial Finesse Helpline Trend Analysis - Summary: Financial Finesse sees a strong trend towards employees proactively managing their money in an effort to reduce expenses and pay down debt. According to the report, this might not bode well for the economy over the short term, it is a positive sign for the long term because it will ultimately lead to greater wealth creation. Located at: Financial Finesse , November 2008. Click on headline for full article.

Taking the Mystery Out of Retirement Planning - Summary: This is an online version of "Taking The Mystery Out Of Retirement Planning" which includes interactive worksheets that you complete as you read each chapter. Located at: Department of Labor, November 2008. Click on headline for full article.

Plan Participants Delay Retirement - Summary: Retirement plan participants appear to be responding to the current economic and financial crisis by delaying retirement, saving less and re-aligning their retirement investments. Located at: CCH, November 2008. Click on headline for full article.

Mutual Fund Company Exempt from 'Party in Interest' Liability - Summary: The U.S. District Court for the Central District of California ruled that a mutual fund company that engaged in a fee agreement with its investment adviser is not a "party in interest" under the ERISA. Located at: Planadviser.com, November 2008. Click on headline for full article.

Putting Target-Date Retirement Funds to Work - Summary: Over the last few years, financial firms have developed mutual funds aimed at retirement savers who want to put their plans on autopilot and the simplicity of this approach has broad appeal. Located at: Reuters, November 2008. Click on headline for full article.

COMMENTARY: It's Time to Rethink Our Retirement Plans - Summary: A new approach, combining the best of traditional pensions and new savings vehicles, is needed. So let's fix what isn't working, before the next financial crisis. Located at: Wall Street Journal Online, November 2008. Click on headline for full article.

Retire the 401k System? - Summary: As troubled as the 401k system may be, retirement plan experts argued recently for reforming it rather than getting rid of it. Located at: Workforce.com (free registration may be required), November 2008. Click on headline for full article.

Some Firms Suspend Their 401k Match - Summary: As the economy worsens, a growing number of small businesses are suspending their 401k match, and, in some instances, closing the retirement plans altogether. Located at: Wall Street Journal Online, November 2008. Click on headline for full article.

Experts Optimistic About Future of Retirement Plan Business - Summary: Despite volatile investment markets, the freezing and terminating of defined benefit plans and limited formation of new plans, retirement market thought leaders and professionals alike are upbeat about the industry's future when looking five years ahead. Located at: 401khelpcenter.com, November 2008. Click on headline for full article.

COMMENTARY: A Cool Head Under Pressure - Summary: Lori Lucas says employers with 401k plans need to heed the advice they are giving participants and not take rash actions during these volatile times. Located at: Workforce.com (free registration may be required), November 2008. Click on headline for full article.

COMMENTARY: The 'Anti-Participant Rule' -- Part 3 - Summary: Scott Simon writes, "Advisors should know that it's quite possible the Department of Labor's proposed rule §2550.404a-5 (what I refer to as the 'anti-participant rule') to require disclosure of certain costs and fees associated with qualified retirement plans such as 401k plans will never see the light of day." Located at: Morningstar.com, November 2008. Click on headline for full article.

With Democratic Win, What Happens Now With Retirement Plans - Summary: The next few years in employee benefits will be shaped by a Democratic President and a Democratic Congress. President-elect Barack Obama benefits proposals are outlined in this article. Located at: CCH, November 2008. Click on headline for full article.

ROBS–Rollovers as Business Startups - Summary: The IRS has issued guidance to its field agents on a new qualified plan design being marketed as a means to allow business owners to tap into retirement benefits for startup cost without paying applicable distribution taxes. Located at: Benefitsforward.com, November 2008. Click on headline for full article.

VIDEO: IRS Presentation on 403(b) Final Regulations - Summary: NAGDCA has posted a series of video presentations by the IRS dealing with the 403(b) final regulations. It is a 10 part series. Located at: YouTube, November 2008. Click on headline for full article.

Balance Forward 401k Plans - Summary: If you're a plan sponsor or a 401k plan participant, today's investment climate is not a good time to be part of a balance forward plan. The author explains why. Located at: Retirement Plan Blog, November 2008. Click on headline for full article.

Benchmarking Your Practice - Summary: A recent survey by Plan Adviser magazine of advisers who work with employer sponsored retirement programs attempts to capture the profile of the "typical" retirement plan adviser. Located at: Plan Adviser Magazine, November 2008. Click on headline for full article.

December 31, 2008 Deadline to Adopt a 403(b) Written Plan - Summary: Rev. Proc. 2007-71 requires a written plan or amendments to an existing plan — in compliance with the final 403(b) regulations — to be in place by no later than January 1, 2009. This deadline applies to off-calendar year plans also. Located at: McKay Hochman, November 2008. Click on headline for full article.

State-by-State Participation in 401k Type Plans - Summary: How many wage and salary workers in each state participate in 401k type plans? What does that translate into on a percentage basis? Located at: Employee Benefit Research Institute , November 2008. Click on headline for full article.

IRS Says: Beware of ROBS - Summary: Beware of promoters promising that participants can use their funds in their 401k, IRA, profit-sharing, or annuity plans to open a business without paying taxes on the distribution. Located at: BenefitsBlog, November 2008. Click on headline for full article.

Change Election Produces Little So Far on the Hill - Summary: Despite the undeniable impact the "change" element had in the Presidential election the leadership of the key Congressional committees with jurisdiction over employee benefit matters in both the House and Senate will likely remain the same next year. Located at: Benefits Biz Blog, November 2008. Click on headline for full article.

Five Basics to Remember in a Down Market - Summary: Down markets are a fact of life. But they need not be a cause for panic or rash decision-making based on newspaper headlines or TV talk shows. Here are five things every investor should remember in these times. Located at: The Standard , November 2008. Click on headline for full article.

401k Plans Face Disparity Issue - Summary: As cash-strapped workers curb their 401k contributions, more employers could be forced to limit or refund the retirement-plan contributions of higher earners to meet federal nondiscrimination rules. Located at: Located at: Wall Street Journal Online, November 2008. Click on headline for full article.

Plan Sponsors Address Market Turmoil - Summary: Plan sponsors are taking their fiduciary responsibilities seriously and dealing proactively with the financial crisis, suggests a new survey from Aon Consulting. Of the 100 defined contribution plan sponsors recently surveyed, 78% have reviewed their plan's core offerings to ensure they have sufficient diversification. Located at: Located at: Employee Benefit News (free registration may be required), November 2008. Click on headline for full article.

DC Plans With Unbundled Providers to Add Options - Summary: The Spectrem Group Report also says that plans using unbundled providers are likely to add employer stock, high-yield bonds and target-date funds as new investment choices. Located at: Workforce.com (free registration may be required), November 2008. Click on headline for full article.

Year-End Checklist for Tax-Qualified Retirement Plans - Summary: It is important to stop and review whether any qualified plan action items must be addressed prior to year-end. This checklist describes potential year-end amendments and notices that may be necessary for tax-qualified retirement and savings plans. Located at: Morgan, Lewis & Bockius LLP , November 2008. Click on headline for full article.

Match is Key Factor in How Much Employees Save in 401k Plans - Summary: Charles Schwab has released a new report revealing an important connection between how a company offers its 401k plan matching contribution and employee saving levels. Located at: 401khelpcenter.com, November 2008. Click on headline for full article.

How IRS Correction Program Updates Affect You - Summary: EPCRS allows and encourages plan sponsors to correct certain errors in employee retirement plans, in some instances without having to notify the IRS. The program helps employers and plan sponsors take a proactive role in identifying and correcting mistakes, and also encourages implementation of practices and procedures to help ensure retirement plans comply with the laws and regulations. Correcting errors in this manner allows the plan's tax-favored status to be maintained and protects the retirement benefits of employees and retirees. Located at: Vanguard , November 2008. Click on headline for full article.

BOOK: Working Longer: The Solution to the Retirement Income Challenge - Summary: From the publisher: "This timely and insightful book assesses the potential of longer work lives to strengthen retirement security. With a clear-eyed view of the challenges associated with such a major social and economic change, this book is an essential resource for individuals, employers, and policymakers alike." Located at: Center for Retirement Research at Boston College, November 2008. Click on headline for full article.

Maintaining Standards in Unusual Times - Summary: By now, even the most ardent advocates of asset allocation have to be asking themselves whether they should just go to cash and wait for saner times. The problem for fiduciaries is that they have a duty to diversify unless it is clearly prudent not to do so. Located at: Investmentnews.com (free registration may be required), November 2008. Click on headline for full article.

COMMENTARY: The No-Retirement Economy Takes Hold - Summary: The stock-market crash also has exposed an even greater problem: The Baby Boom population is saving far too little for retirement, putting greater pressure on a Social Security system that has its own funding troubles. Located at: Chicago Tribune Blog, November 2008. Click on headline for full article.

COMMENTARY: Fiduciary Discipline in Tumultuous Times - Summary: In such a time of turmoil, it is logical to wonder if prudent fiduciaries of 401k plans should do anything differently in response to the current environment. Located at: Capital Directions Investment Advisors, November 2008. Click on headline for full article.

Setting Up An Effective Strategy Around Lifecycle Funds - Summary: With the flood of lifecycle funds available in the market, plan sponsors need to consider which funds are most appropriate for their retirement plan. Here are some factors to examine. Located at: Employee Benefit News (free registration may be required), November 2008. Click on headline for full article.

The Four Pillars of U.S. Retirement - Summary: Prudential has developed the "Four Pillars of U.S. Retirement" as a framework to discuss how Americans will prepare for and live in retirement. The Four Pillars have their origin in the traditional "three-legged stool" of retirement security: Social Security, Employment-Based Plans, and Personal Savings. To this, Prudential has added a fourth Pillar, Retirement Choices, to capture lifestyle and financial choices that are taking on greater significance given the changing nature of retirement in America. Located at: Prudential , November 2008. Click on headline for full article.

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