BPP401k.com Newsletter
July 8, 2009
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Benefits Groups Ask DOL, SEC For Flexibility In Regulations On Target-Date Funds The Profit Sharing/401k Council of America (PSCA) and the American Benefits Council called for flexibility in any regulations governing target-date funds.
Ten HR Administration Cost-Reduction Strategies for Tough Economic Times - Summary: While reducing HR costs is a challenge in the current environment, the mandate to reduce costs has created a burning platform for HR, opening up new opportunities that may not have been available in the past. Located at: Hewitt Associates. Click on headline for full article.
Research note: When will the recession end? Analysis based on a proprietary index of economic momentum - Summary: With the general improvement in global financial conditions since March, market commentary has focused on evidence of "green shoots" that suggest the rate of economic deterioration is at least slowing. But how can we know if the right signals are being captured, and have they successfully identified the turning points of past business cycles? Located at: institutional.vanguard.com. Click on headline for full article.
Five things advisers can do to help participants 50 and older to prepare for a leaner, and likely meaner, retirement - Summary: Overall, just 13% of Americans surveyed in the Employee Benefit Research Institute’s (EBRI) 19th Annual Retirement Confidence Survey say they feel very confident that they have enough money to live comfortably in retirement—a record low. That represents a one-half decline in worker confidence since 2007, EBRI says in the survey that was released in April. Located at: Plan Adviser Magazine. Click on headline for full article.
Concerns Brew About Integration of Watson Wyatt, Towers Perrin - Summary: Experts say the creation of such a large company will end up diluting the services that clients get—at least in the short term. Located at: Workforce.com (free registration may be required). Click on headline for full article.
Employers Back 401(k) as Vital Retirement Savings Tool - Summary: A new study from Schwab reveals that a majority of senior finance and human resource executives in corporate America support the 401(k) as an effective savings tool for retirement.
Located at: Businesswire.com. Click on headline for full article.
IRS Obsoletes Old 403(b) Guidance; Highlights Unique School Guidance - Summary: The IRS has recently released Revenue Ruling 2009-18 which officially declares to be obsolete many old pre-2009 rulings and notices which dealt with 403(b) plans.
Located at: Sungard Relius. Click on headline for full article.
Current Economic Climate, Shrinking Retirement Funds Leave Many Without Options - Summary: Despite diminishing employment opportunities and an economy threatening job security, new research by Charles Schwab & Co., Inc shows that as many as 9.5 million retired Americans are considering at least a partial return to the workforce.
Located at: Businesswire.com. Click on headline for full article.
New Online Resource from The Principal Estimates Time it Might Take to Rebuild 401(k) Account Balance - Summary: A lot of participants may be asking themselves: how long might it take to rebuild 401(k) balances after the stock market decline in 2008? A new resource from the Principal Financial Group® estimates the time it might take to rebuild 401(k) account balances to January 2008 levels.
Located at: Principle.com Click on headline for full article.
Nonparticipant-directed plans as an alternative to employee investment education - Summary: Personal financial education is an important public and private policy tool. 401(k) plan sponsors, credit card companies, insurance companies, banks, investment companies, Federal Reserve, and federal and state governments all offer and promote financial literacy
Located at: Employee Benefit News. Click on headline for full article.
Borrowing From 401ks - Summary: A new government report breaks from conventional wisdom and casts doubt on some long-held beliefs about the negative effects of borrowing from a 401k fund. Shifting expensive consumer debt to defined-contribution plans may make sense for some workers.
Located at: Human Resource Executive Online. Click on headline for full article.
The Effect of Uncertain Labor Income and Social Security on Life-cycle Portfolios - Summary: This paper examines how labor income volatility and social security benefits influence life-cycle household portfolios. We examine how much the individual saves, and where, taking into account liquid financial wealth and annuities, and stocks versus bonds. Located at: Pension Research Council at The Wharton School (free registration may be required). Click on headline for full article.
U.S. Retirement Market Data for 2008 - Summary: ICI published its annual report on the U.S. retirement market, which shows that Americans held $14.0 trillion in retirement assets at year-end 2008, down 22 percent from year-end 2007. Located at: Investment Company Institute. Click on headline for full article.
Tips for IPS Refining your 401(k) IPS and other fiduciary compliance tips - Summary: In evaluating many 401 (k) plans over the past 25 years, I have found many fiduciary nonconformities and lots of opportunities for improvement, beginning with the investment policy statement Located at: Employee Benefit News. Click on headline for full article.
Monthly Regulatory Round-Up - Summary: This monthly regulatory round-up produced by Towers Perrin is a high-level summary of legal and regulatory developments that occurred during May 2009 that may be relevant to large plan sponsors. Located at: Towers Perrin. Click on headline for full article.
Administration Explores 'R Bond' As Option for Retirement Accounts - Summary: Officials in the Obama administration are moving quickly to develop the investment infrastructure behind the president's proposal for mandatory automatic enrollment in individual retirement accounts, which could be supported by the creation of Treasury-issued retirement bonds. Located at: Investment News (free registration may be required). Click on headline for full article.
Summary of The Defined Contribution Plan Fee Transparency Act of 2009 - Summary: This is the official summary of a bill (H.R. 2779) that would add new Section 4980H to the Internal Revenue Code requiring notice to plan participants and taxes for failure to comply. Located at: American Benefits Council. Click on headline for full article.
ABC's Proposed Modifications to H.R. 1984 - Summary: Paper from the American Benefits Council with suggested modifications to H.R. 1984, The 401k Fair Disclosure for Retirement Security Act Of 2009. Located at: American Benefits Council. Click on headline for full article.
Austen Riggs Center Selects MassMutual for 403(b) Plan
White Horse Advisors Selected by Republic National Distributing to Provide Plan Services
Great-West to Sponsor 403(b) Prototype Plan
Diversified Investment Advisors Introduces Retirement Readiness Report
CPI Introduces Same-Day Investment of Payroll Contributions
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