401(k) plans (BenefitsLink.com)Headlines re 401(k) plans, gathered by BenefitsLink.comAutomatic Annuitization Proposed for DC Plans- (Found June 29, 2008 ) Excerpt: "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." (Baker & Daniels)http://www.benefitsbizblog.com/2008/06/automatic-annuitization-propos.html Are ETF Funds Soon to Be Commonplace in Company Retirement Plans- (Found June 29, 2008 ) Excerpt: "Exchange-traded funds, often lauded for their low fees and easy diversification, are angling for your retirement money. But this budding class of investments can't seem to gain a foothold in the mutual fund-dominated 401(k) business. 'Traditional fund companies have a stranglehold on those plans,' says Jeffrey Ptak, head of ETF research at Morningstar." (U.S. News & World Report)http://www.usnews.com/articles/business/retirement/2008/06/12/the-next-wrinkle-in-your-401... Guidance Overview With EGTRRA Restatement - a Perfect Time for Plan Changes- (Found June 29, 2008 ) Excerpt: "If you offer a defined contribution plan to your workers, your plan document must be restated with the IRS sometime within the next year. This is a result of the Economic Growth and Tax Relief Tax Reconciliation Act of 2001." (Employee Benefit News; free registration required)http://ebn.benefitnews.com/asset/article/603981/staying-current/egtrra-restatement-perfect... Guidance Overview Navigating the QDIA Notice Requirements (PDF)- (Found June 29, 2008 ) 5 pages. Excerpt: "This bulletin discusses the notice and information requirements and the practical application of those rules." (Reish Luftman Reicher & Cohen)http://www.reish.com/publications/pdf/qdianoticereq.pdf Guidance Overview DOL's Final Rules and Supplemental Guidance for Qualified Default Investment Alternatives- (Found June 29, 2008 ) 6 pages. Excerpt: "Following the issuance of the QDIA regulations, a number of issues arose. To address those issues and provide guidance with respect to the application of the final regulations, the Department of Labor recently issued Field Assistance Bulletin 2008-03 . . . . At the same time, the Department of Labor made some minor clarifications to the final regulations. The Bulletin is written in question and answer format and is intended to address the most frequently asked questions..http://www.utzmiller.com/article_display.html?did=NTc=&article=1 As 401k Audit Season Starts, Sponsors Face Tougher Standards- (Found June 29, 2008 ) Excerpt: "Auditors will be asking more questions and requesting more documentation because new, stricter audit standards, known as the 'risk assessment standards,' now are effective for employee benefit plan audits for periods beginning on or after Dec. 15, 2006. This year, auditors are required to look at the plan sponsor as well as the plan, and the audit process will last longer and demand more management time." (Business Wire via Human Resource Executive Online)http://dialog.newsedge.com/portal.asp?site=2006120817070303800165&searchfolderid=pg200... Small-Business Owners Turning to Tax-Saving Investment Tool - the 401(k)- June 29, 2008 Excerpt: "The target page lists five tax-specific benefits that make the 401(k) a smart choice for any small business . . . ." (Forbes.com)http://www.forbes.com/home/2008/06/12/retirement-401k-ira-pf-retire-in_sr_0612soapbox_inl.... Disclosure on 401(k) Fees Will Stay the Samefor Now- (Found June 29, 2008 ) Excerpt: "Legislation approved by a House panel to require greater disclosure of 401(k) plan fees won't pass this year, the panel's chairman and a sponsor of the legislation said." (Financial Week; free registration required)http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080617/REG/34408636/-1/FWDailyAl... Hecker v. Deere - Amended Brief of DOL Secretary as Amicus Curiae- (Found June 29, 2008 ) In Support Of Plaintiffs-Appellants, April 2, 2008 (U.S. Department of Labor)http://www.dol.gov/sol/media/briefs/Deere(A)-04-02-2008.htm When Changing Jobs, What Should You Do with Your Old 401k- (Found June 29, 2008 ) Excerpt: "While leaving your retirement account with a former employer is a better decision than cashing out your account and splurging on a boat, it may be more beneficial to consolidate your retirement savings by rolling your old 401k or similar employer-sponsored retirement plan into an IRA." (Linda Horn via 401khelpcenter.com)http://www.401khelpcenter.com/401k_education/old_401k_to_IRA.html |