This e-newsletter is a digest of information published by a variety of sources on employee benefit plans and related issues. We hope you find the information useful.
General Items
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 (PDF File). 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 (PDF File). 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). 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. 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. Click on headline for full article.
Court and Legislative Items
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: House Committee on Education and Labor. Click on headline for full article.
403(b) Items
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. Click on headline for full article.
DOL and IRS Items
Discover How DOL Advice Initiatives Affect You - Summary: The Department of Labor recently published guidance regarding the provision of invest. advice to retirement plan and IRA participants. Find out what these proposed regulations mean to you and your participants.
Located at: Vanguard (PDF File). 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. Click on headline for full article.
