FINANCE -
February 06, 2012
Foundations and Endowments See Negative Performance in 2011
February 6, 2012 (PLANSPONSOR.com) – The majority of institutional asset owners closed 2011 in positive territory, according to the Wilshire Trust Universe Comparison Service (Wilshire TUCS).
RULES/REGS -
February 06, 2012
Plan Sponsors Must be Aware of Changes In 408(b)(2) Final Rule
February 6, 2012 (PLANSPONSOR.com) – Now that the Department of Labor’s (DoL) regulation for 408(b)(2) has been finalized, it is important for plan sponsors to understand how the final rule impacts them.
HR/BENEFITS -
February 06, 2012
DXP Enterprises to Pay $120K to Fired Employee
February 6, 2012 (PLANSPONSOR.com) – DXP Enterprises, Inc. agreed to settle a disability and age discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC) for $120,000.
PEOPLE -
February 06, 2012
Former Ontario Teachers’ Plan VP Joins Open Access
February 6, 2012 (PLANSPONSOR.com) – Open Access Limited has appointed Zev Frishman as senior vice president of investment management.
HR/BENEFITS -
February 06, 2012
New Yorkers Facing Retirement Crisis
February 6, 2012 (PLANSPONSOR.com) - A growing number of New York City residents don’t have enough money to retire, according to a new study.
HR/BENEFITS -
February 06, 2012
Plan Sponsors Say Few Employees Will Be Prepared for Retirement
February 6, 2012 (PLANSPONSOR.com) – Eighty-four percent of polled executives responsible for 401(k) plans say only some or very few employees will be financially prepared for retirement.
RULES/REGS -
February 06, 2012
Court Finds Decision to Spin Off is Unrelated to Benefits
February 6, 2012 (PLANSPONSOR.com) – A ruling that Abbot Laboratories' decision to spin off its hospital division was not motivated by pension benefits has been upheld by a federal appellate court.
PRODUCTS -
February 06, 2012
IRA Financial Introduces Solo 401(k) Contribution Calculator
February 6, 2012 (PLANSPONSOR.com) - IRA Financial Group has launched a free, online Solo 401(k) contribution calculator.
HR/BENEFITS -
February 07, 2012
Keeping Teacher Pay Low Is Biblical?
February 7, 2012 (PLANSPONSOR.com) – An Alabama state senator has claimed that increasing teacher pay will attract people who aren’t “called to teach.”
RULES/REGS -
February 03, 2012
Change in Governmental Plan Definition to Affect Charter Schools
February 7, 2012 (PLANSPONSOR.com) - The National Alliance for Public Charter Schools estimates more than 90,000 charter school employees will be impacted by the Internal Revenue Service’s proposal to change the definition of governmental plan.
RULES/REGS -
February 03, 2012
Industry Players Mostly Pleased with Final Rule on 408(b)(2)
February 3, 2012 (PLANSPONSOR.com) – Members of the retirement plan community were mostly positive about the final rule on 408(b)(2) fee disclosure regulations.
HR/BENEFITS -
February 03, 2012
N.H. Court Says Increasing State Employee Pension Contributions Illegal
February 3, 2012 (PLANSPONSOR.com) - A Merrimack County (New Hampshire) Superior Court judge decided it is illegal to ask longtime state employees to contribute more from their paychecks for their pensions.
HR/BENEFITS -
February 03, 2012
Calif. Governor Submits 12-Point Pension Reform Plan
February 3, 2012 (PLANSPONSOR.com) – California Governor Jerry Brown sent the language for his 12-point pension reform plan to the Legislature’s Conference Committee on Public Employee Pensions.
HR/BENEFITS -
February 03, 2012
Sick Time Payouts Costing Chicago Teachers’ Retirement System
February 3, 2012 (PLANSPONSOR.com) - The Chicago Public Schools system spends tens of millions of dollars annually to departing employees for unused time off.
FINANCE -
February 03, 2012
CalSTRS Further Lowers Investment Return Assumption
February 3, 2012 (PLANSPONSOR.com) - The governing board of the California State Teachers’ Retirement System (CalSTRS) adopted a new set of actuarial assumptions, including lowering the investment return assumption from 7.75% to 7.5%.
HR/BENEFITS -
February 03, 2012
Majority of Employees Find Benefit Counseling Valuable
February 3, 2012 (PLANSPONSOR.com) – Ninety-six percent of workers who take part in individual benefits counseling sessions say they better understand their benefits as a result.
HR/BENEFITS -
February 03, 2012
Lowe’s Sued over Cancelling Health Plan Participants’ Coverage
February 3, 2012 (PLANSPONSOR.com) – A lawsuit was filed on behalf of all participants in Lowe’s Companies’ Group Medical Plan who had their health coverage terminated and were denied medical benefits by Lowe's for part or all of the 2011 calendar year.
PRODUCTS -
February 03, 2012
Segal Advisors Acquires Rogerscasey
February 3, 2012 (PLANSPONSOR.com) – Segal Advisors acquired the business of Rogerscasey.
RULES/REGS -
February 03, 2012
IRS Issues Interim Report about 401(k) Compliance Questionnaire
February 3, 2012 (PLANSPONSOR.com) – The Internal Revenue Service’s (IRS) interim report of responses from its 401(k) Compliance Check Questionnaire offers a view of the 401(k) plan design landscape.
PRODUCTS -
February 03, 2012
P-Solve Acquires Cassidy Retirement Group
February 3, 2012 (PLANSPONSOR.com) - P-Solve has completed the merger of its U.S. subsidiary with Cassidy Retirement Group (CRG).