Digest
Best Practices in Employee Campaigns - Summary: A thoughtfully designed and executed communication program can go a long way toward engaging employees and motivating them to action. Learn the most important techniques and tools you can use to maximize the action rate of your communication.
Located at: MassMutual (PDF File). Click on headline for full article.
The Best New Features of a Rich 401k - Summary: Over the past year or two, a combo of new government regulations and a chaotic stock market - not to mention the continued slashing of traditional pensions - has spurred many companies to revamp their 401k plans in ways that can pay off big-time.
Located at: CNN.com. Click on headline for full article.
House Labor Committee to Vote on 401k Fee Disclosure Bill - Summary: The House Education and Labor Committee has scheduled a vote on the "401k Fair Disclosure for Retirement Security Act" (H.R. 3185), legislation to ensure that American workers have clear and complete information about fees.
Located at: 401khelpcenter.com. Click on headline for full article.
LaRue v. DeWolff: How it Affects You and What You Should Do - Summary: Numerous newsletters and articles have commented on the Court's holding. The goal of this bulletin is to share thoughts on what the decision means for plan sponsors and fiduciaries and offers some recommendations for plan sponsors.
Located at: Reish Luftman Reicher & Cohen. Click on headline for full article.
Bad Press May Mean Better Participants - Summary: As the average American gets more sophisticated about their retirement prospects, more media attention will be devoted to the subject. As media scrutiny increases so too will investor attention, creating a circular system that will drive some employers to reevaluate their external retirement help.
Located at: Employee Benefit News (free registration may be required). Click on headline for full article.
Target-Date Funds Gain Participants and Providers - Summary: More employers with 401k plans are mapping their workers into target-date funds. As a result, target-date fund assets have jumped from about $15 billion in 2002 to about $183 billion as of December 2007.
Located at: Employee Benefit News (free registration may be required). Click on headline for full article.
Fewer Employees Convinced They Can Retire Comfortably - Summary: The percentage of workers who said they were very confident about having enough money to retire comfortably dropped to 18 percent this year from 27 percent in 2007.
Located at: Workforce.com. Click on headline for full article.
Research
MetLife Study of Employee Benefits Trends - Summary: The 6th annual MetLife Study of Employee Benefits Trends examines the attitudes of an increasingly diverse workforce toward financial and benefits-related issues. The Study also captures the benefits practices and perspectives of both small and large companies across a wide array of industries.
Located at: MetLife (PDF File). Click on headline for full article.
Workers Show Record Drop in Retirement Confidence - Summary: Reflecting the growing concern over health care costs and economic issues, American workers' confidence in being able to afford a comfortable retirement decreased over the past year by a rate unmatched in the 18 years of the Retirement Confidence Survey.
Located at: 401khelpcenter.com. Click on headline for full article.
DOL and IRS Items
DOL Unveils Video to Help Small Employers Select Retirement Plan - Summary: The U.S. Department of Labor released a new online video to help small employers and accountants understand the various options for providing a retirement program for their employees.
Located at: U.S. Department of Labor. Click on headline for full article.
Who is Responsible for Collecting Delinquent Contributions? - Summary: The DOL has issued Field Assistance Bulletin 2008-01 in which it explained the DOLs position regarding the fiduciary responsibility for the collection of delinquent contributions.
Located at: Sungard/Relius. Click on headline for full article.
IRS Announces Opening of Determination Letter Program for Pre-Approved DC Plans - Summary: The IRS has advanced its cyclical determination letter program in Announcement 2008-23 by stating that it expects to begin issuing opinion and advisory letters for pre-approved defined contribution plans on March 31, 2008.
Located at: BNAtax.com. Click on headline for full article.
IRS Answers Questions About PPA Distributions - Summary: The IRS answers questions about certain distribution-related provisions of the Pension Protection Act of 2006 (PPA) that took effect in 2008.
Located at: Watson Wyatt Worldwide. Click on headline for full article.
DOL Advisory Opinion 2008-04A - Summary: Whether proposed arrangements by a U.S. bank for maintaining the indicia of ownership of "plan assets" held by foreign pooled investment funds would be in compliance with the requirements of ERISA section 404(b).
Located at: U.S. Department of Labor. Click on headline for full article.
