The program, designed to help providers quickly explain the implications of the new legislation to plan sponsors, will be available to a limited number of providers. Plan Advisory Services, which has for nine years been assisting financial services companies in communicating with their pension plan sponsor clients, has outlined a program that begins on Monday of the week after the final bill clears the House and Senate — unless there’s a credible veto threat – with articles on:
- Reviewing the new legislation comprehensively, with an executive summary giving a quick “headline” treatment.
- Separately reviewing key topics, including treatment of cash balance plans, defined contribution plan proposals and new disclosure obligations.
- Reviewing for sponsors the things they have to do right now.
Additionally, PAS says it will provide clients with presentation materials in bullet format covering key elements of the new legislation. Later that week, the Chicago-based firm says it expects to be conducting webinars provider customers and their plan sponsor clients highlighting the impact of the new legislation on sponsors.
“Congress is poised to pass legislation fundamentally changing how defined benefit plans are funded,” notes Mike Barry, President of Plan Advisory Services, and a regular columnist in PLANSPONSOR magazine. “This legislation has become a vehicle for a number of new pension proposals, including a revision of cash balance plan rules; defined contribution company stock, automatic enrollment/automatic increase and participant advice initiatives; and an array of new sponsor disclosure and reporting requirements. The current expectation is that this legislation will pass sometime in the first half of this year.”
For more information call Mike Barry at (773)665-4050, or email at firstname.lastname@example.org .
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