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BPP401k.com Newsletter
June 11, 2008

News Highlights

BPP's own Bob Higgins will present at the upcoming PLANSPONSOR conference June 20 in Chicago, IL. There is no charge for plan sponsors to attend the event. For more information click here. Need an industry expert to help you with a presentation? Drop us a line.

In Search of the Perfect 401k Plan - Summary: The author writes, "How would you design the perfect 401k plan? My initial reaction to this question was that there is no such thing as a universally perfect 401k plan since the definition of perfect is subjective. However, recognizing that "perfect" is in the eyes of the beholder, I attempted to identify the criteria I felt was most important to the plan sponsor who desired to provide retirement benefits with a corresponding coherent risk mitigation strategy in light of today's legislative, regulatory, and legal environment."

Handle Your Old 401k the Smart Way - Summary: Odds are you've had more than one job in your life. If an old employer put some money aside for your retirement, don't just forget about it -- put it to work by investing it the way you want to.

Obtaining Quality Plan Audit Services -- The RFP - Summary: Employee benefit plan sponsors and administrators can save time selecting an audit firm and evaluating the quality of its services by writing a thorough Request for Proposal (RFP).

Update on Plan Fee Disclosure - Summary: This Regulatory Brief examines the evolving landscape of plan fee disclosure. It will get you up to date on service provider fee disclosure, participant fee disclosure, final Form 5500 regulations, and legislative response to fee disclosure concerns.

Digest

Automatic Enrollment or Managed Account? - Summary: One take on how a managed account program represents the most realistic solution for plan sponsors looking to address the long-term retirement income needs of plan participants. Located at: The Standard (PDF File). Click on headline for full article.

In Search of the Perfect 401k Plan - Summary: The author writes, "How would you design the perfect 401k plan? My initial reaction to this question was that there is no such thing as a universally perfect 401k plan since the definition of perfect is subjective. However, recognizing that "perfect" is in the eyes of the beholder, I attempted to identify the criteria I felt was most important to the plan sponsor who desired to provide retirement benefits with a corresponding coherent risk mitigation strategy in light of today's legislative, regulatory, and legal environment." Located at: Fiduciary Risk Assessment LLC (PDF File). Click on headline for full article.

Immediate Income Annuities in DC Plans - Summary: With the growing interest in retirement income, you may be among the defined contribution plan sponsors weighing whether your plan should offer an immediate income annuity within the plan as a distribution option. Located at: Vanguard Group (PDF File). Click on headline for full article.

Handle Your Old 401k the Smart Way - Summary: Odds are you've had more than one job in your life. If an old employer put some money aside for your retirement, don't just forget about it -- put it to work by investing it the way you want to. Located at: The Motley Fool. Click on headline for full article.

Automatic Annuitization Proposed - Summary: Defined contribution plan participants would automatically get temporary annuity-like benefit distributions under a new proposal floated today by several authors affiliated with the Retirement Security Project. Located at: Benefits Biz Blog. Click on headline for full article.

Target-Date Funds Display Wide Range of Equity Allocation - Summary: When looking at 2020 funds, the range of equity allocations spans from 51% to 95%, according to a study by Financial Research Corporation (FRC). Located at: Planadviser.com. Click on headline for full article.

Revenue Estimates and Retirement Policy - Summary: This report concludes that the current federal budget scorekeeping rules-under which revenue effects are reflected on a cash-flow basis using a ten-year budget window-overstate the true costs of retirement savings proposals. These rules result in a distortion of the economic costs of tax deferrals, which are eventually paid, and inhibit the enactment of legislative proposals designed to increase retirement benefits for American workers. Located at: ASPPA (PDF File). Click on headline for full article.

Five Reasons to Avoid 401k Debit Cards - Summary: New 401k debit cards make it even easier to flunk do-it-yourself retirement. Investors should be wary of five potential pitfalls of 401k debit cards, according to an investor alert from the Financial Industry Regulatory Authority. Located at: U.S. News. Click on headline for full article.

Fiduciary Items

408(b)(2) Proposed Regulations and ERISA's General Fiduciary Obligations - Summary: In spite of a consistently clear ERISA mandate to obtain full disclosure of "all" compensation, fiduciaries have typically operated in ignorance of the actual amount of fees paid for services rendered when those fees are paid from plan assets. Unfortunately, fiduciary ignorance has been spawned by a climate of obfuscation. Located at: Fiduciary-Risk.com (PDF File). Click on headline for full article.

Obtaining Quality Plan Audit Services -- The RFP - Summary: Employee benefit plan sponsors and administrators can save time selecting an audit firm and evaluating the quality of its services by writing a thorough Request for Proposal (RFP). This article offers tips from the AICPA Employee Benefit Plan Audit Quality Center. Located at: AICPA. Click on headline for full article.

Court and Legislative Items

Heroes Earnings Assistance and Relief Tax Act of 2008, H.R. 6081 - Summary: H.R. 6081 was approved by both chambers of Congress in May and includes many new provisions that apply to plans qualified under IRC sections 401, 403(b), and 457. Located at: U.S. House of Representatives (PDF File). Click on headline for full article.

Hewitt Federal Legislation Quick Guide - Summary: This guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law, regarding retirement plans. Located at: Hewitt Associates (PDF File). Click on headline for full article.

401k Fee Related Items

Update on Plan Fee Disclosure - Summary: This Regulatory Brief examines the evolving landscape of plan fee disclosure. It will get you up to date on service provider fee disclosure, participant fee disclosure, final Form 5500 regulations, and legislative response to fee disclosure concerns. Located at: Vanguard Group (PDF File). Click on headline for full article.

DOL and IRS Items
IRS Guidance on Distribution-Related Provisions of PPA - Summary: The IRS recently issued Notice 2008-30, which provides guidance on certain distribution-related provisions of the Pension Protection Act of 2006 that became effective in 2008. The guidance provides valuable answers on several issues that affect all qualified defined contribution and defined benefit plans. Key points of the notice are summarized in this article. Located at: Winston & Strawn LLP (PDF File). Click on headline for full article.

This eNewsletter is published as a service to our clients. BSW Benefit Plans Plus, L.L.C. is not the author of the material unless specifically noted. We review each article to ensure that it is related to the interests of our clients, but BSW Benefit Plans Plus, L.L.C. does not endorse and disclaims any and all responsibility or liability for the accuracy, content, completeness, legality, or reliability of the material. All articles are copyrighted to their publishers.

This eNewsletter is prepared in partnership with 401khelpcenter.com, LLC. and is copyright (c) 2008 by 401khelpcenter.com, LLC. All rights reserved. No reproduction without prior authorization.

THIS ENEWSLETTER IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED AS LEGAL, TAX OR INVESTMENT ADVICE.