BPP401k.com Newsletter
July 15, 2009
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Changes in Employment Laws and Enforcement Present New Compliance Challenges - Summary: Human Resources departments have faced more changes in employment law this year than they have in decades.
Located at: Buck Consultants. Click on headline for full article.
403(b) Fiduciary Challenges Demand Applying ERISA in Unique Way - Summary: Some of the dust is settling, in an odd sort of way, on the IRS issues related to 403(b) plans.
Located at: Business of Benefits. Click on headline for full article.
Study Illuminates 401(k) Participants’ Preferences for Fee Disclosures - Summary: While the national policy debate about 401(k) fee disclosure heats up, new research conducted by the Transamerica Center for Retirement Studies® sheds light on preferences among American workers for receiving information about fees and expenses associated with participating in their employers’ 401(k) plans.
Located at: Transamerica Center for Retirement Studies. 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.
Deloitte Consumer Spending Index Moves Up in June - Summary: The Deloitte Consumer Spending Index rose in June, after falling four consecutive months. The Index attempts to track consumer cash flow as an indicator of future consumer spending.
Located at: Deloitte. 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.
Fidelity's 401(K) Data Show Auto Enrollment Has Biggest Impact On Younger, Lower-Paid Workers. - Summary: Fidelity Investments, the nation's No. 1 provider of workplace retirement savings plans, today announced that auto enrollment in 401(k) plans is proving to have the biggest impact on younger and lower-compensated employees.
Located at: Fidelity. Click on headline for full article.
Minn. 403(b) Vendor Dispute Awaits Judge’s Ruling - Summary: A Minnesota state judge told both sides in the continuing dispute over the number of 403(b) vendors for the Winona (Minnesota) School District that she needs more time to review evidence in the case.
Located at: Planadvisor.com Click on headline for full article.
Exemption for 401(k) Advice Delayed Pending Review of Comments - Summary: The effective date of an important rule on investment advice under the Pension Protection Act of 2006 (PPA) will be extended an additional 180 days, the U.S. Department of Labor’s (DOL’s) Employee Benefits Security Administration announced. The new effective date is Nov. 18, 2009.
Located at: Thompson. Click on headline for full article.
Exchange-Traded Funds Target 401(k) Plans - Summary: ETFs may seem more attractive to plan sponsors, given current market conditions, but there is much for them to consider before adding these products to their plans.
Located at: Workforce.com. Click on headline for full article.
Groundbreaking Study Reveals African-Americans and Hispanics Significantly Less Prepared for Retirement Than Their White and Asian Counterparts - Summary: The Ariel/Hewitt study highlights disparities in 401(k) saving and investing behaviors by race and ethnicity.
Located at: Hewitt Associates. 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.
MoneyVoices: ICI's Stevens Backs Rival 401(k) Fee Bill - Summary: The Investment Company Institute and its mutual fund members have been advocating better 401(k) disclosure for more than 30 years. The market turmoil and losses of the past two years have only made the case more compelling.
Located at: Investment Company Institute. 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 June 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.
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