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Archives for: January 2008
The workforce is bound to change dramatically as baby boomers reach retirement age. Nearly one out of every two senior executives surveyed by Robert Half International named this factor most likely to "significantly alter the workforce in the next decade." Global business interactions was the next highest factor named. The effects may be mitigated by delayed retirement, said Robert Half International chairman and CEO Max Messmer: "Fortunately, many baby boomers are considering working past the traditional retirement age to stay active and continue earning."
This fall the IRS published proposed rules on Qualified Automatic Contribution Arrangements (QACAs) for 401(k) plans, 403(b) tax-sheltered annuities, or 457(b) governmental plans. The guidance concerns design-based safe harbor created by the Pension Protection Act of 2007. By adopting a QACA, a plan may escape some nondiscrimination testing.
The U.S. Equal Employment Opportunity Commission (EEOC) issued a final rule on December 26, 2007, that permits employers and labor organizations to offer retirees a wide range of health plans that incorporate Medicare or comparable State health benefit programs without violating the Age Discrimination in Employment Act of 1967 (ADEA).
Join Cowden Associates on January 31, 2008 for a complimentary breakfast and seminar. Recent guidelines regarding default investments and fee disclosures have added important clarification. Process and documentation are critical features. This seminar will focus on practical examples and walk through actual case studies. Topics to be covered include:
- Formation and duties of an Investment Committee
- Review/creating Investment Policy Statements
- Investment review and selection of plan offerings
- Qualified Default Investment Alternative (QDIA)
- Full fee disclosures
- Performance monitoring and changes in offerings
- Documenting the process and rationale
- Employee communications
- Evolving DOL Fee disclosure requirements including 5500 data
This is your opportunity to learn the critical features of process and documentation requirements now required by Plan Sponsors.
Cowden Associates, Inc. has hired Dennis Raymond as senior human resources and compensation consultant. As part of the firm’s compensation and labor management practice, Raymond will work with clients to develop effective human resources and compensation strategies that align with organizational goals.