HR/BENEFITS -
03, 2010
“Little” Movement in Jobs Picture in August
September 3, 2010 (PLANSPONSOR.com) – The Labor Department said that August’s unemployment numbers were “changed little”, but the change wasn’t good.
RULES/REGS -
September 03, 2010
IRS Publishes New Health Care Reimbursement Guidance
September 3, 2010 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has issued some new guidance on provisions added by the Patient Protection and Affordable Care Act.
HR/BENEFITS -
September 03, 2010
Cash Balance Plans Have Risk Mitigation Challenges
September 3, 2010 (PLANSPONSOR.com) – Plan sponsors who move to a cash balance plan from a traditional defined benefit (DB) program may not always realize they are trading interest rate risk for investment risk.
HR/BENEFITS -
September 03, 2010
Satisfied at Work, Despite Retirement Worries
September 3, 2010 (PLANSPONSOR.com) – A Labor Day survey conducted by StrategyOne indicates that while the vast majority of American workers are satisfied with their jobs, nearly two thirds doubt they will ever be able to retire.
RULES/REGS -
September 03, 2010
PBGC Plan to Bolster NC Firm’s Pension Program
September 3, 2010 (PLANSPONSOR.com) – The Pension Benefit Guaranty Corporation (PBGC) has announced an agreement with sock maker Gold Toe Moretz Holdings Corp. to shore up the pension plan of more than 370 former workers at the company's shuttered plant in Burlington, North Carolina.
HR/BENEFITS -
September 03, 2010
PwC Report Touts Employer Benefits of EGWP + Wrap
September 3, 2010 (PLANSPONSOR.com) – Employers providing prescription drug benefits to Medicare-eligible retirees could enjoy “a potentially significant savings opportunity” with a particular plan configuration called EGWP + Wrap, according to a new PricewaterhouseCoopers (PwC) report.
MARKETS -
September 03, 2010
July Fund Inflows Pegged at $15.4 billion
September 3, 2010 (PLANSPONSOR.com) – Stock and bond funds experienced net inflows of $15.4 billion in July, according to the latest Financial Research Corporation (FRC) data.
FINANCE -
September 03, 2010
Ten-Year Global Retirement Asset Growth Seen at 66%
September 3, 2010 (PLANSPONSOR.com) – The next 10 years should bring a 66% increase to the global retirement market despite the effects of the current worldwide financial crisis, according to a new Allianz report.
FINANCE -
September 03, 2010
SEC Issues Report on Moody’s Probe
September 3, 2010 (PLANSPONSOR.com) – The Securities and Exchange Commission (SEC) has issued a report about its probe into Moody's Investors Service (MIS) that cautions credit rating agencies about deceptive ratings conduct.
FINANCE -
September 03, 2010
SEC Adopts Temporary Muni Adviser Registration
September 3, 2010 (PLANSPONSOR.com) – The Securities and Exchange Commission (SEC) has adopted a temporary rule requiring municipal advisers to register with the SEC by October 1.
RULES/REGS -
September 03, 2010
Court Dismisses FA Suit over Merrill WealthBuilder
September 3, 2010 (PLANSPONSOR.com) – Merrill Lynch’s WealthBuilder Plan did not violate the Employee Retirement Income Security Act (ERISA) because it was a top-hat plan, a federal judge ruled in throwing out a proposed class-action lawsuit by three financial advisers against the company.
FINANCE -
September 03, 2010
New York CRF Lowers Return Rate Assumption
September 3, 2010 (PLANSPONSOR.com) – The New York State Common Retirement Fund (CRF) has lowered its assumed investment return rate from 8% to 7.5% as part of a series of moves to deal with continuing market volatility.
RULES/REGS -
September 02, 2010
Comments Endorse Fee Disclosure Flexibility, Additional Compliance Time
September 2, 2010 (PLANSPONSOR.com) – A selection of the 44 comments received by the U.S. Department of Labor (DoL) about its pending fee-disclosure rule shows broad support for the rule’s intent, but continued pressure for more regulatory flexibility and time to comply.
PRODUCTS -
September 02, 2010
The Principal Finds Text Messages Inspire Retirement Savings
September 2, 2010 (PLANSPONSOR.com) – One year after launching a text messaging service for retirement plan participants, The Principal has released data indicating it has improved savings rates and asset allocation.
HR/BENEFITS -
September 02, 2010
Financial Stress Calls Employees to Action
September 2, 2010 (PLANSPONSOR.com) – An analysis from Financial Finesse finds employees reported more financial stress in Q2 2010, but instead of retreating in fear, they were called to action.
PRODUCTS -
September 02, 2010
Calculator Helps Small Businesses Calculate Tax Credits from Health Reform
September 2, 2010 (PLANSPONSOR.com) - Tax Credits, LLC has launched the Small Business Tax Credit Calculator to enable small businesses, accountants, tax preparers, payroll administrators, and benefits professionals to calculate exact health care tax reform tax credit data.
PRODUCTS -
September 02, 2010
Gallagher & Co. Adds New York Consultant to Its Stable
September 2, 2010 (PLANSPONSOR.com) – Arthur J. Gallagher & Co. has acquired Old Greenwich Consulting Group in New York.
HR/BENEFITS -
September 02, 2010
For Willing Survey Respondents, It’s in the Genes
September 2, 2010 (PLANSPONSOR.com) – A new academic study has given employers a few hints on what makes people willing to complete a survey – on issues such as leadership or workplace stress for example – but it doesn't give all the answers.
HR/BENEFITS -
September 02, 2010
Economy Drives Employer Health Coverage Cutbacks
September 2, 2010 (PLANSPONSOR.com) – Driven by cost pressure from the down economy, thirty percent of employers in a new poll said they have cut their health benefits or stepped up cost-sharing, while 23% said they are asking employees to pay more for coverage.
HR/BENEFITS -
September 02, 2010
CBIZ Small Business Employment Index Shows Signs of Caution
September 2, 2010 (PLANSPONSOR.com) - The CBIZ Small Business Employment Index for August decreased by 1.01%.