RMI 325 List of lectures, assignments, and readings:  Fall 2007

Jack L. VanDerhei, Ph.D., CEBS Dept of Risk, Insurance, and Healthcare Management Back to 325 Home Page Last updated: 8/8/2007 10:07 AM

NB: the entire website will be revised for the Fall 2007 Semester. I will be changing textbooks (Littell and Tacchino, Planning for Retirement Needs, 9^th edition, The American College Press, 2007) and will change each of the assignments below accordingly.

Google docs: Daily agenda and exam topics  |Technology project
Other information: listserv | maximum beneifits and contribution limits | dictionary

1 Pension and Retirement Planning Overview	2 The Retirement Field	3 Preliminary Concerns	4 Defined-Benefit, Cash-Balance, Target-Benefit, and Money-Purchase Pension Plans	5 Profit-Sharing Plans, 401(k) Plans, Stock Bonus Plans, and ESOPs
6 SEPs, SIMPLEs, and 403(b) Plans	7 Coverage, Eligibility, and Participation Rules	8 Designing Benefit Formulas and Employee Contributions	9 Helping Clients Choose the Best Loan, Vesting, and Retirement-Age Provisions	10 Death and Disability Benefits; Top-Heavy Rules
11 Plan Funding and Investing—Part I	12 Plan Funding and Investing—Part II	13 Plan Installation and Administration	14 Plan Termination	15 Nonqualified Retirement Plans: An Overview
16 Equity-Based Compensation Plans: An Overview	17 Individual Retirement Plans—Part I	18 Individual Retirement Plans—Part II	19 Social Security	20 Introduction to Individual Retirement Planning
21 Retirement Needs Analysis: The Assumptions	22 Determining Postretirement Monetary Needs: Case Study	23 Additional Retirement Planning Issues	24 Distributions from Retirement Plans—Part I	25 Distributions from Retirement Plans—Part II
Reference	plan freezes	2006 pension bill

Notes:

1. This list contains both required and optional readings.   Those in the former category will be designated as such.
2. This list is updated at least weekly (the last day updated is in the upper right hand corner of the page).  Please make sure you have the most recent version (i.e., there is not much point in printing out a hard copy of this list).
3. Some readings are located on the Blackboard site for this class. They will be denoted by "bb".
4. All chapter numbers refer to Littell and Tacchino, Planning for Retirement Needs, 9th edition, The American College Press, 2007
5. Click here for additional (but less recent) readings based on previous editions of the textbook

List of Lectures (see below for instructions)

topic (click on link for readings)	ppt (right click and choose save links as …)	homework
Introduction to course	chapter 01_discussion_questions.ppt	sign up for listserv, send email w requested info, readings on pension freezes
1 Pension and Retirement Planning Overview

Reference

1. [7/26/07]  Investment Company Institute:  The U.S. Retirement Market, 2006 http://www.ici.org/pdf/fm-v16n3.pdf
2. Appendix: Additional Data on the U.S. Retirement Market, 2006: http://www.ici.org/issues/ret/fm-v16n3_appendix.pdf
3. [7/26/07]  Fidelity Investments:  Building Futures VIII: Highlights of Findings http://personal.fidelity.com/myfidelity/InsideFidelity/NewsCenter/mediadocs/BF_VIII_Highlights_of_Finding.pdf
4. Older Americans Update 2006: Key Indicators of Well-being This updated report provides the latest data on the 37 key indicators selected by the Forum for its 2004 report to portray aspects of the lives of older Americans and their families. It is divided into five subject areas: population, economics, health status, health risks and behaviors, and health care.
5. [4/13/07] U.S. Department of Labor Employee Benefits Security Administration: Private Pension Plan Bulletin: Abstract of 2004 Form 5500 Annual Reports http://www.dol.gov/ebsa/PDF/2004pensionplanbulletin.PDF
6. Private Pension Plan Bulletin Historical Tables http://www.dol.gov/ebsa/pdf/privatepensionplanbulletinhistoricaltables.pdf
7. PBGC has posted its 2005 data book
8. Directory: Resources for Actuaries on Pension Finance
9. Spending and Investing in Retirement--Is There a Strategy?
   Excerpt: "The SOA's Committee on Post Retirement Needs and Risks, and Pension Section Research Team . . . make available material from a new research study that examines how retirees approach key financial decisions about managing their money in retirement. The objective of the research . . . was to collect first hand accounts from six focus groups comprised of retirees in several locations nationwide." (Society of Actuaries)
10. Issue in Brief: An Update on Private Pensions -- August 2006 (PDF)
    12 pages. Excerpt: "The key finding is that total pension coverage has remained stagnant while the nature of coverage has continued to shift to 401(k) plans. These developments, coupled with declining levels of earnings replacement under Social Security, mean that future retirees will have to work longer if they want to maintain their pre-retirement standard of living in retirement." (Center for Retirement Research at Boston College)
11. Watson Wyatt Insider -- Trends in Pensions 2005 (PDF)
    54 pages. This edition covers: Pension Fund Finances for 2005; Recent Funding and Sponsorship Trends Among the Fortune 1000; Pension Fund Finances and Business Risk; How Do Retirement Plans Affect Employee Behavior?; Increasing Employees' Appreciation of Their Retirement Programs; Defined Benefit Plans Become Significantly More Valuable; Do Aggressive Funding Policies Lead to Higher Credit Ratings?; and, Lessons for DB Pensions and the Retirement Ecosystem. (Watson Wyatt Worldwide)

Plan freezes

1. [7/24/07]  Watson Wyatt Worldwide:  Pension Plan Freezes Slowing, Watson Wyatt Finds http://www.watsonwyatt.com/news/press.asp?ID=17616
2. Retirement Income Adequacy After PPA and FAS 158: Part One--Plan Sponsors' Reactions, EBRI Issue Brief, No. 307, July 2007, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1002643
3. Defined Benefit Plan Freezes: Who's Affected, How Much, and Replacing Lost Accruals, EBRI Issue Brief, No. 291, March 2006, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=891170

4 Defined-Benefit, Cash-Balance, Target-Benefit, and Money-Purchase Pension Plans

1. Cash Balance Plans in the New Millennium (PDF)

5 Profit-Sharing Plans, 401(k) Plans, Stock Bonus Plans, and ESOPs

401(k) Plans

1. [7/24/07]  Investment Company Institute:  Frequently Asked Questions about 401(k) Plans http://www.ici.org/new/faqs_401k.html
2. Enhancing 401(k) Value and Participation: Taking the Automatic Approach, Research Report, Towers Perrin, June 2007 http://www.aarp.org/research/work/benefits/enhancing_401k.html
3. University of Michigan Retirement Research Center: Winners and Losers: 401(k) Trading and Portfolio Performance [Working Paper]: http://www.mrrc.isr.umich.edu/publications/papers/pdf/wp154.pdf

11. Plan Funding and Investing—Part I

Actuarial cost methods, minimum required contributions, maximum deductible contributions

Required for Fall 2007:

1. EXPECTED IMPACT ON RETIREMENT PLAN FINANCING, September 2006, towers perrin http://www.towersperrin.com/tp/getwebcachedoc?webc=HRS/USA/2006/200609/Pension_Pulse_whitepaper_final.pdf

2. Pension reform: A shifting landscape for plan sponsors http://global.vanguard.com/international/common/pdf/PRShifting.pdf

3. jan 07, Analysis: The New Single-Employer Defined Benefit Plan Funding Rules (PDF), 31 pp. http://www.groom.com/documents/fundingbill-TMarticle.pdf

4. The new pension law and DB plans, February 2007, Warshawsky, 32 pp. http://www.globalaging.org/pension/us/2007/upen.pdf

Optional:

1. My chapter on pre-PPA defined benefit funding
2. "Pension Reform: Impact on Defined Benefit Plans" September 2005 http://www.afponline.org/pub/pdf/cieba_200509_reform.pdf
3. [7/24/07]  Society of Actuaries and American Academy of Actuaries:  Pension Actuary’s Guide to Financial Economics http://soa.org/files/pdf/actuary-journal-final.pdf

20 Introduction to Individual Retirement Planning

1. [8/7/07]  Prudential’s Four Pillars of Retirement Series:  The Fourth Pillar: Retirement Choices http://www.prudential.com/media/managed/FourthPillarRetirementChoices5-10-07FINAL.pdf?seg=10&name=the4thpillar

PLEASE IGNORE ANY MATERIAL BELOW THIS LINE

The following grid provides links to lectures by chapter numbers of the text, the actual sequence of lectures is provided below. 

1 Development	2 Objectives	3 DB vs DC	4 Nondiscrimination	5 Nond cont
6 fiduciary liability	7 money purchase	8 profit sharing plans	9 savings plans	10 ESOPs
11 401(k)	12 403(b) plans	13 DB Plan Features	14 DB funding	15 DB funding - 2
16 Plan Termination	17,18 SIMPLE and IRAs	19 Hybrid Plans	20 Exec Ret Plans	22 Inv of DB assets
23 Company stock	26 Accounting	27 Taxation	Publications	Retirement Planning
ap1: SS ret ben	ap3: state & local	EGTRRA | 2006 bill	Technology links	OLD Reference

Notes:

5. This list contains both required and optional readings.   Those in the former category will be designated as such.
6. This list is updated at least weekly (the last day updated is in the upper right hand corner of the page).  Please make sure you have the most recent version (i.e., there is not much point in printing out a hard copy of this list).
7. Some readings are located on the Blackboard site for this class. They will be denoted by "bb".
8. All chapter numbers refer to Allen, et. al., Pension Planning, 9th edition. 
9. Click here for additional (but less recent) readings based on previous editions of the textbook

List of Lectures (see below for instructions)

topic (click on link for readings)	ppt (right click and choose save links as …)	homework
Introduction to course	chapter 01_discussion_questions.ppt	sign up for listserv, send email w requested info, readings on pension freezes
chapters 1 and 2: Development of Private Pension Plans and Objectives	chapter_02_benefit_objectives.ppt	Technology homework on db freezes; solution
appendix 1: Social Security retirement benefits; updates for ALL 2006 numbers	appendix 01, social security.ppt	technology homework 1: Calculating Social Security retirement benefits
chapter 3: DC vs DB Plans	chapter 03, scotland speech.ppt
chapter 4: minimum coverage	chapter 04, Minimum Coverage.ppt	Spring 1998 Midterm, question 1
chapter 4: 401a4	chapter 04, nondiscrimination in benefits or contributions.ppt	Spring 1998 Midterm, question 2
chapter 4: integration (dc cases)	chapter 04, dc integration.ppt
chapter 4: integration (db cases)	chapter 04, db integration.ppt	Spring 1998 Midterm, questions 8-10
chapter 5: vesting, 415, top-heavy	chapter 05, Section 415 Limits.ppt, chapter 05, top-heavy.ppt, chapter 05, vesting.ppt	Spring 1998 Midterm, questions 3, 4, 6, 7, 11
2006 bill	Added to individual topics	We will start working through the Deloitte reading (and selected pages of others) for the remainder of the semester.  This will make up a huge portion of the mandatory term paper
chapters 7 money purchase plans; 8 profit sharing plans	chapter 08, profit sharing.ppt, chapter 07, money purchase plans.ppt	example
chapter 11 401(k)	chapter 11, 401k.ppt chapter 11 cases.rtf New Vesting Requirements for Nonelective Contributions Update for PPA (added 10/30/06)	Fall 2002 quiz;
New developments in 401(k) plans	chapter 11, AUTOMATIC ENROLLMENT OF ELIGIBLE EMPLOYEES IN 401(k).ppt chapter 11, k safe harbors.ppt chapter 11, prior year testing.ppt Automatic Enrollment Update for PPA (added 10/30/06)	essay question
Fiduciary liability, 404(c) and Unisys	chapter 06, 404c update.ppt Default Investment Alternatives Under Participant Directed Individual Account.ppt	essay question
chapter 23: Company_stock	chapter 23, company stock.ppt	essay question on inv of dc assets
chapter 18: SIMPLE and SEPs	chapter 17, 2002, simple plans wo simple k.ppt	essay question
chapter 13: Defined Benefit Plan Features;	chapter 13, db features.ppt
chapters 14-15: actuarial	chapter 15 funding examples.ppt chapter 15 funding.ppt	Spring 1998 Final, questions 4 and 5
chapter 26: Accounting	chapter 24, Assgt13, fas87.ppt chapter 24, fas87 problems.ppt	Spring 1998 Final, questions 6 and 7
chapter 16: Plan Termination	chapter 16, pbgc.ppt	essay questions on plan termination
chapter 19: Hybrid Retirement Plans;	chapter 19, 2002 update of 1999 congressional cash balance briefing.ppt Update to cash balance lecture.ppt	essay question on cash balance plans
chapter 17, IRAs	chapter 17, iras.ppt
chapter 27: Taxation	chapter 25, Taxation updated slides.ppt	Spring 1998 Final, question 8
Retirement Planning	retirement planning.ppt
chapter 20: Executive Retirement Arrangements	chapter 20, executive retirement.PPT	essay question on exec ret arrangements
chapters 14-15: actuarial cost methods for db plans		1. Spring 1998 Final, question 1 2. answer key for acm question
make-up quizzes

* denotes topics that were assigned but not yet covered

Instructions:

1. Click on the topic link to find the list of readings.  Please note, all required readings are denoted as such.
2. There are two types of homework: regular homework and "technology" homework. Both types are voluntary and will not count as part of your semester grade; however, the correlation between the regular homework questions and the non-essay portions of the exams is extremely large.  Therefore, I would STRONGLY encourage everyone to at least attempt each regular homework question PRIOR to the time solutions for the  homework are presented in class.  I do NOT provide written answers to the homework.  If you are unable to attend class, it is YOUR responsibility to obtain the solutions to the homework from a fellow student.

Readings on the 2006 pension bill

§ Securing Retirement: An Overview of the Pension Protection Act of 2006 (Deloitte, 43 Pages) required

§ Purcell's October 2006 summary (25 pages) http://www.opencrs.com/rpts/RL33703_20061023.pdf (required)

§ IRS Web Page Collects PPA Guidance and Other Information

§ Internal Revenue Service: The Pension Protection Act of 2006 [Resource Materials]:http://www.irs.ustreas.gov/retirement/article/0,,id=165131,00.html

§ Overview: Pension Protection Act of 2006: Single Employer Defined Benefit Pension Plan Funding Rules (PDF)

§ [11/28/06] Prudential Financial’s Pension Analyst: Pension Protection Act of 2006 Makes Significant Changes to Single Employer Defined Benefit Plans http://www.prudential.com/media/managed/PensAnalyst.PPA06.SingDB.pdf

§ Congressional Research Service: Summary of the Pension Protection Act of 2006: http://www.opencrs.com/rpts/RL33703_20061023.pdf

§ PPA Provisions Require Immediate Action by Defined Contribution Plan Sponsors (PDF) (Prudential Retirement)

§ The PPA and 2007 Pension Funding: What in the World Are We Waiting For? (CCA Strategies, LLC)

§ [10/20/06] Towers Perrin Monitor:  Plan Sponsors Expect New Pension Law to Spur Higher Contributions

§ Overview: PPA Combines Stricter Rules with New Savings Opportunities for Defined Contribution Plans (Watson Wyatt Worldwide)

§ A Look at PPA Changes Primarily Affecting Defined Benefit Plans (Littler Mendelson)

§ The Pension Protection Act Delivers Good News for Cash Balance and Other Hybrid Plans (Watson Wyatt Worldwide)

§ Overview: Default Investment Safe-Harbor (McKay Hochman Co., Inc.)

§ Aon Consulting Alert: Pension Protection Act of 2006: Impact on Your Retirement Programs  http://www.aon.com/about/publications/pdf/alert/alert_8_8_06.pdf

§ Key Provisions of HR 4, the Pension Protection Act of 2006

§ Technical Explanation of H.R. 4, The 'Pension Protection Act Of 2006' (PDF)

misc

· H.R. 4 Side-by-Side Comparison Focusing on the Many ERISA Fiduciary Changes in the Pension Legislation (PDF)
19 pages. Title: Summary Comparison and Analysis of Current Law with the Fiduciary and Prohibited Transaction Provisions of the Pension Protection Act (H.R. 4) (Groom Law Group)

· H.R. 4 Side-by-Side Comparison on Current Law and Single-Employer Pension Reforms (PDF)
35 pages. Title: Summary Comparison of Current Law And the Principal Provisions of the Pension Protection Act (H.R. 4): Single-Employer Pension Funding Reforms and Cash Balance Provisions (Groom Law Group)

· H.R. 4 Side-by-Side Comparison of Current Law and DC, IRA, and Governmental Plan Reforms (PDF)
25 pages. Title: Summary Comparison of Current Law and the Principal Provisions of the Pension Protection Act (H.R. 4): Changes Primarily Affecting Defined Contribution Plans, IRAs, Governmental and Tax-Exempt Employer Plans, and Insurance Programs (Groom Law Group)

· New Pension Legislation will Significantly Change U.S. Pension and IRA Investments
Excerpt: "The Pension Act is also significant for the financial services industry and private equity investors because it includes various provisions designed to facilitate the investment of plan assets subject to the U.S. Employee Retirement Income Security Act ('ERISA'). This Alert focuses solely on the investment-related aspects of the Pension Act . . . ." (Orrick, Herrington & Sutcliffe LLP)

· PPA Of 2006 Part V: Pension-Related Revenue Provisions
Excerpt: "This fifth in a series of articles examines pension-related revenue provisions of the Pension Protection Act (PPA) of 2006. Subtitle A of Title VIII of the PPA of 2006 increases the deduction limit for single-employer defined benefit plans. Under current law, in general, employers can deduct contributions that fund defined benefit plans up to 100% of the plan's current liability. Contributions in excess of that limit are subject to a 10% excise tax." (Spencer's Benefits Reports)

· U.S. Department of Labor Employee Benefits Security Administration: Pension Reform Web Site http://www.dol.gov/ebsa/pensionreform.html

· An Overview of the Pension Protection Act of 2006 (PDF)
9 pages. Excerpt: "Within its scope, this bill is as far-reaching as any pension legislation enacted in the last 25 years. It is the culmination of a policy debate over pension reform that began over five years ago. It both reacts to recent developments affecting American businesses-- including the economic volatility and corporate distress and failures experienced and continuing in this decade-- and pushes forward the trend towards greater individual responsibility for retirement security." (Sutherland Asbill & Brennan LLP)

· PPA Of 2006 Part IV: Cash Balance Age Discrimination, Investment Advice, And Prohibited Transactions
Excerpt: "This fourth in a series of articles examines the provisions of the Pension Protection Act of 2006 (PPA) relating to age discrimination under cash balance plans, investment advice, prohibited transactions, and fiduciary rules. Unless noted otherwise, these provisions of the Act are effective for transactions after the date of enactment." (Spencer's Benefits Reports)

· A Finance Professor's View: Why I Am Disappointed with the Pension Protection Act of 2006
Excerpt: "The bill does not address either of the two issues that I regard as crucial to fixing what is wrong with the U.S. private pension system today. The first of these relates to the traditional defined benefit pension system and the federal government agency that insures it: the PBGC. The second relates to the emerging new pension system that is built around 401k, 403b, IRAs and other self-directed investment accounts." (Professor Zvi Bodie via BenefitsLink)

· Pension Reform Act Expands Ability of Investment Funds to Accept Benefit Plan Investments (PDF)
3 pages. Excerpt: "In particular, PPA 2006 changes the method of counting benefit plan investors in determining whether a fund satisfies the 25% 'significant equity participation' test under ERISA. The 25% test generally provides that a fund's underlying assets will not be considered to be ERISA plan assets . . . if 'benefit plan investors' own less than 25% of the value of each class of equity interests in the fund." (Alston & Bird LLP)

· Highlights of the Pension Protection Act of 2006
Excerpt: "The Pension Protection Act addresses - and changes the rules in - a number of key areas of federal pension regulation. Here [CCA Strategies highlights] key provisions of the bill affecting single employer plans." (CCA Strategies LLC)

· Overview: Pension Reform Changed Some Distribution Rules
Excerpt: "The Pension Protection Act of 2006 made some subtle, but meaningful changes related to distributions from qualified plans. Here [CCA Strategies discusses] the primary changes." (CCA Strategies LLC)

· Overview: Pension Reform and Much, Much More

Readings on pension freezes

required

1. Do the Math for Lost Pensions, Washington Post, United States - Mar 11, 2006
2. Pension Peril- Securing income for life CNN International - Jan 11, 2006
3. More Companies Ending Promises For Retirement, January 9, 2006 - By MARY WILLIAMS WALSH (NYT) (bb)
4. When Your Pension Is Frozen..., January 22, 2006 - By MARY WILLIAMS WALSH (NYT) (bb)
5. Pensions Likely to Stay Dying Breed, STEVEN D. JONES, Wall Street Journal, August 29, 2006 (bb)
6. Must You Work Until You Drop? Janet Novack, Forbes.com,  August 30, 2006
7. Getting a read on retirement changes, The Dallas Morning News, September 10, 2006, bb
8. One Analysis Finds New Rules Are Making Companies Rethink How Generous Their Plans Should Be, CNN, July 3, 2007

optional

9. Freezing Defined Benefit Pension Plans: The Process and Post-Freeze Issues

Development of Private Pension Plans

1. Chapter 1

§ Please skim the text for this chapter, I will only lecture on tax advantages of qualified plans and a quick overview of the chronology of pension legislation (the last few pages of the chapter). I will spend considerable time on the three questions for discussion I developed for the end of this chapter.

§ nb: there are two types of questions at the end of each chapter:

· Questions for discussion: most of these are still the questions I developed for a much earlier version of the text and do not appear to have been updated since.  This will be the only chapter for which I will spend any lecture time on any of the questions at the end of the chapter.

· Questions for review: you may wish peruse these at your convenience, especially if you plan to take CEBS exams 3 and/or 4.  However, these will be of very limited use in preparing for quizzes or the final exam in this course.  Instead, I will draw exclusively from my lectures for all exam material. 

2. A summary of current retirement issues in the press (required):

	Dugas, Retirement Crisis Looms As Many Come Up Short
	Dugas, Many Retirees Selecting Lump Sum Option from Pension Plans
	wp, Looking to Locate The Comfort Zone
	wp, A Lost Retirement Dream for Boomers?
	csm, Are you saving too much for retirement?

Social Security retirement benefits

1. SSA, Social Security retirement benefits (required)
2. http://actuary.org/socsec.asp (required)
3. [1/10/07] Annual Social Security Statistical Supplement, 2006
4. jan 07, Public Policy Monograph: Social Security Reform Options (PDF)
5. Fast Facts & Figures About Social Security, 2006
6. http://www.ssa.gov/retire2/retirechart.htm (use this to determine normal retirement age)
7. The Proposal to Index Initial Benefits to Prices Rather Than Wages watson-wyatt
8. The Social Security Benefit Formula aarp
9. Social Security Retirement Benefit Calculation ssa

Benefit Plan Objectives

1. How Employers Use Their Retirement Programs to Add Shareholder Value (PDF) (required)
2. [1/11/06] Hewitt Associates: Hewitt Survey Reveals New Employer Trends in Retirement, http://was4.hewitt.com/hewitt/resource/newsroom/pressrel/2006/01-10-06.htm
3. jan 07, Pension Risk Management: A Buyer and Seller Perspective (PDF)

Defined Contribution vs Defined Benefit Plans

1. Iwry, Defined Benefit Pension Plans (pp. 1-13, required)
2. Academy Urges Pension Parity (aaa, required)
3. The Shifting Structure of Private Pensions:Evidence, Causes, and Consequences (Gale, Papke and VanDerhei, required)
4. American Academy of Actuaries Issue Brief: The Value of Defined Benefit Plans http://www.actuary.org/pdf/pension/db_july06.pdf
5. [1/13/06]   Benefits & Compensation Digest:  Defined Benefit and Defined Contribution Plans: A History, Market Overview and Comparative Analysishttp://www.ifebp.org/PDF/webexclusive/06feb.pdf

Defn of highly compensated employee, 401(a)(17), min coverage requirements

1. NONDISCRIMINATION, MINIMUM COVERAGE, AND PARTICIPATION REQUIREMENTS FOR PENSION PLANS (required)
2. Ratio pctg test.htm  (required)
3. Section 414q (required)
4. Section 410b (required)
5. Section 401, subsection (a17) (required)
6. Increasing Pension Coverage & Benefits and Preparing for Retirement (PDF)

Nondiscrimination in benefits and/or contributions

1. db rg.htm
2. Section 401, subsection (a4)

Integration with Social Security

1. INTEGRATING PENSION PLANS WITH SOCIAL SECURITY (required)
2. Revenue Ruling 99-47 (covered compensation tables)
3. Section 401, subsection (l)
4. Characteristics of Individuals with Integrated Pensions by Keith A. Bender, Division of Economic Research,Office of Research, Evaluation, and Statistics,Office of Policy, Social Security Administration (required)
5. Pension Integration and Social SecurityReform by Chuck Slusher (required)
6. GAO report on impact of SS reform on pensions (required)
7. American Benefits Council Urges Social Security Commission to Keep Private Employers in Mind (PDF) (required)

Vesting and minimum benefit accruals

1. Chapter 5 (skim)
2. chapter on pension plans I will send to the listserv (required)
3. Section 411

Section 415 limits (nb: 415e is repealed effective in 2000)

1. Chapter 5 (skim)
2. chapter on pension plans I will send to the listserv (required)
3. Maximum Benefits and Contributions Limits (required)
4. Section 415

Top heavy

1. Chapter 5 (skim)
2. chapter on pension plans I will send to the listserv (required)
3. Section 416
4. Top-Heavy Rules for Owner-Dominated Plans (General Accounting Office), pdf

Misc qualification provisions (time permitting)

1. Chapters 4 and 5: tba
2. Protecting Retirement Plan Assets In Bankruptcy Proceedings

Money purchase plans

1. Time to Fold? By: Korn, Donald Jay. Financial Planning, Sep2001, Vol. 31 Issue 8, p77, 3p; (AN 5117100), bsp, required

Profit sharing plans

1. Profit Sharing Plans (required)
2. The ABCs of profit-sharing plans

401(k) and Savings Plans:

Required

1. 401(k) Cash or Deferred Arrangements (required)
2. 401(k) Plans: A 25-Year Retrospective, ici, required
3. Can 401(k) Accumulations Generate Significant Income for Future Retirees? (required)

IRS information

3. 401(k) Resource Guide - Plan Sponsors - 401(k) Plan Overview
4. IRC 401(k) Plans - Operating a 401(k) Plan

General information

5. Economic Growth and Tax Relief Reconciliation Act of 2001 Affects 401(k) Plans
6. Understanding 401(k) Testing Options  => describes prior year testing (required)
7. Employers Are Cutting 401(k) Contributions
8. Simon, Employees Bailing Out of Retirement Plans as Stocks Fall
9. BURNED! (cover story), Jane Bryant Quinn et. al., Newsweek, 8/19/2002 (html on bsp; pdf on listserv, September 2002, week 1)
10. usat, 401(k) plan doesn't mean you can ignore savings
11. [10/12/06] Fidelity Investments: Building Futures Vol. VII: How Workplace Savings Are Shaping the Future of Retirement [A Report on Corporate Defined Contribution Plans] http://buildingfutures.fidelity.com/pdfs/full_version.pdf

adp/acp test

1. Correcting Retirement Plan Defects- Minimizing an Employer's Cost - and Risk
2. Proposed 401k Regulations Restrict Bottom-Up QNECs
3. The Internal Revenue Service published in the July 17 issue of the Federal Register "Retirement Plans; Cash or Deferred Arrangements Under Section 401(k) and Matching Contributions or Employee Contributions Under Section 401(m); Proposed Rule." http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2003/pdf/03-17755.pdf

loans, withdrawals and hardship distributions

1. hardship distn article in sept 05 bw
2. Hardship Withdrawals, Step by Step (PDF)
3. IRS Publishes Final Plan Loan Regulations
4. The True Cost of Taking Loans From Your 401(k) or 403(b) Plan
5. 401(k) Loans- Was Polonius Right- (Neither a Borrower Nor a Lender Be)
6. Should you borrow from your 401(k) to pay off your mortgage-

New developments in 401(k) plans

401(k) Plan Design

1. Can There Be Too Many Choices in a 401(k) Plan- (PDF), Vanguard
2. [1/13/06]   Vanguard Center for Retirement Research:  401(k) Plan Design: Match, Loan, and Investment Menu Effects https://institutional4.vanguard.com/iip/pdf/VCRRPD.pdf
3. [11/14/06] The Vanguard Group: How America Saves 2006: A Report on Vanguard 2005 Defined Contribution Plan Data https://institutional.vanguard.com/iip/pdf/CRR_HAS_2006.pdf
4. [11/14/06] Putnam Investments: Defined Contribution Default Options: A Framework for the New Environment https://content.putnam.com/institutional/pdf/dc_default_options.pdf

SMART

1. Save More Tomorrow™: Using Behavioral Economics to Increase Employee Saving. By: Thaler, Richard H.; Benartzi, Shlomo. Journal of Political Economy, Feb2004 Part2 of 2, Vol. 112 Issue 1, pS164-S187, 24p, 7 charts; (AN 12603985), blackboard (required)

Roth k plans

1. [ April 2005] IRS Proposes Regulations on Designated Roth Contributions to 401(k) Plans, http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=14597
2. [1/11/06] Watson Wyatt Insider: Final Regulations on Roth 401(k)s Issued, http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=15574&Component=The+Insider
3. Wouldn't You Really Rather Have a Roth? By: Klein, Amelia M.. Journal of Pension Benefits: Issues in Administration, Autumn2005, Vol. 13 Issue 1, p17-22, 6p; (AN 18419828) (bsp, required)
4. Proposed Regs on Designated Roth Contributions Under 401(k) Plans
5. § 402A. Optional treatment of elective deferrals as Roth contributions
6. Overview: Final Regulations for Designated Roth 401(k) Contributions, jan 06

Catch-up contributions

1. Full Text of Final Regulations on Catch-Up Contributions for Persons Age 50 or Older (PDF)
2. Catch-Up Contributions Can Help Older Workers Build Up Retirement Savings, If Employer Allows Them

safe harbors

1. IRS Notice 2000-3   (required)
2. The safe-harbor solution Journal of Accountancy; New York; Jul 1999;

fees

1. Taking the Pulse of Your 401(k) Plan
2. Revenue Sharing in the 401(k) Marketplace

behavioral finance issues

1. Lessons from Behavioral Finance for Retirement Plan Design
2. Lessons From Behavioral Finance and the Autopilot 401(k) Plan
3. Plan Design and 401(k) Savings Outcomes (required)
4. For Better or For Worse- Default Effects and 401(k) Savings Behavior (required)
5. Selecting a Default Fund for a Defined Contribution Plan
6. John Turner's Benefits Quarterly article, see listserv for October 2006, week 3 (required)

automatic enrollment (aka, negative election)

1. Automatic Enrollment in Section 401(k) Plans (required)
2. Text of IRS General Information Letter to Mark Iwry on Automatic Compensation Reduction Elections (PDF) (required)
3. 401(k) plan doesn't mean you can ignore savings (required)
4. USATODAY.com - Rule would encourage automatic 401(k) enrollment (required)
5. The Influence of Automatic Enrollment, Catch-Up, and IRA Contributions on 401(k) Accumulations at Retirement (required)

Fiduciary liability,  Section 404(c), 96-1, and participant education

1. Arnone's article for my journal (required)
2. my summary of March 22, 1999 results on Unisys second appeal (required)
3. Watson Wyatt Insider: Default Investment Options in Defined Contribution Plans: A Simple Comparison http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=17180 (required)
4. Proposed Rule on Default Investment Alternatives: (required)
1. News Release • Fact Sheet • Peer Review (optional)
5. Default Investment Alternatives Under Participant Directed ...
6. In re UNISYS SAV. PLAN LITIG. (lexis)
7. Scandals Spur Fiduciary Liability Premiums
8. [1/11/07] Webcast: Pension Protection Act of 2006 -- Focus on Default Investment Guidance
9. Overview: Labor Department Proposed Rules for Automatic 401(k) Investment Elections (PDF)

Investment of Defined Contribution Plan Assets

Company stock

Required

1. The Role of Company Stock in Defined Contribution Plans [revised version of 8/20/02]. Olivia S. Mitchell and Stephen P. Utkus , required
2. Promoting 401(k) Security, J. Mark Iwry, 2003, required
3. DOL Releases Blackout Notice Guidelines, Watson Wyatt - Insider, required
4. 401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 2005

optional

1. 401(k)s stuffed with employer stock are a national calamity. Here's how to fix it
2. Written Statement of American Benefits Council at House Oversight Hearing on Retirement Plans (PDF)

proquest

1. Using employer stock in a 401(k) retirement plan; George M Morrison; Journal of Pension Planning and Compliance, Greenvale; Fall 1999; Vol. 25, Iss. 3; pg. 48, 13 pgs (proquest)
2. Employer stock levels heighten 401(k) risks (proquest)

General

1. chapter 23 (background only)
2. Targeted-Maturity Funds: New Research Supports Growing Popularity July 2006
3. Plan design is key to success of employees' 401(k)s
4. 1990s bull market promotes 401(k)s

Cash Balance/Hybrid Retirement Plans

Required

1. My Senate testimony  => optional background reading
2. The Pension Protection Act Delivers Good News for Cash Balance and Other Hybrid Plans  (required)
3. Overview: IRS Provides Guidance for Hybrid Plans (PDF)
4. feb 07, Analysis: Recent Cash Balance Plan Developments

Optional

1. [1/16/07]  Aon Consulting Alert:  IRS Opens Determination Letter Program and Issues Transitional Guidance for Cash Balance and Pension Equity Plans http://www.aon.com/about/publications/pdf/alert/alert_01_11_07.pdf
2. jan 07, Green Light for Cash Balance Plans Presents an Opportunity to Reconsider Retirement Benefit Offering (PDF)
3. [1/9/07] Watson Wyatt Insider: IRS Releases Transitional Guidance for Hybrid Plans http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=16874
4. [1/10/07]Overview: Cash Balance Plans -- Determination Letter Moratorium End and Initial PPA Guidance (PDF)

Defined Benefit Plan Features

1. chapter 13 (skim)
2. Iwry, Defined Benefit Pension Plans (pp. 14-22, required)
3. Phased Retirement: Problems and Prospects, feb 07

Actuarial cost methods, minimum required contributions, maximum deductible contributions

Required for Fall 2007:

1. EXPECTED IMPACT ON RETIREMENT PLAN FINANCING, September 2006, towers perrin (required)
2. Traditional Pension Plans Continue to Disappear at Large Companies, According to Watson Wyatt
3. Pension reform: A shifting landscape for plan sponsors global.vanguard.com/international/common/pdf/PRShifting.pdf
4. jan 07, Analysis: The New Single-Employer Defined Benefit Plan Funding Rules (PDF) (required)
5. The new pension law and DB plans, February 2007, Warshawsky, http://www.globalaging.org/pension/us/2007/upen.pdf
6. "Pension Reform: Impact on Defined Benefit Plans": http://www.afponline.org/pub/pdf/cieba_200509_reform.pdf
7. Pension reform may be tough on db plans: https://institutional.vanguard.com/VGApp/iip/Research?Path=PUBNEWS&File=NewsPReformToughDB.jsp&FW_Activity=ArticleDetailActivity&FW_Event=articleDetail
8. Employee Benefit News, Jan '07, "In the balance, db plan sponsors weighing their options in post-PPA environment" http://www.benefitnews.com/retire/detail.cfm?id=9975
9. Article cites an SEI poll of 92 managers of db plans; SEI press release: http://www.seic.com/SEI-Press-Release.asp?articleID=948451
10. Towers Perrin Monitor article on pension plan funding: [scroll down to sections called "large balance sheet charges still expected" & "financial issues remain" for fasb impact] http://www.towersperrin.com/hrservices/monitor/monitor_feb07.htm

Optional:

11. My chapter on pre-PPA defined benefit funding
12. chapters 14 and 15 (skim)

Employers’ Accounting for Pensions

1. chapter 26 (skim)
2. "Rethinking postretirement benefits"http://www.pwc.com/extweb/pwcpublications.nsf/docid/130848181CEF96068525718D00710F63/$FILE/pension-paper.pdf
3. "Adopting FAS 158 - Practical Implications and Next Steps for Plan Sponsors" http://www.towersperrin.com/tp/getwebcachedoc?webc=HRS/USA/2006/200610/FAS158_Oct06_10_19_06.pdf
4. Text of FASB Statement 158: New Accounting Standard for DB Plans and Other Postretirement Plans (PDF) (required)
5. [10/24/06] Towers Perrin: Adopting FAS 158 -- Practical Implications and Next Steps for Plan Sponsors [White Paper] (required)
6. [11/15/06] MarketWatch: Pensions to Hit Balance Sheets at Year-End: New Accounting Rule to Put Funding of Retirement Plans in the Spotlight (required)
7. jan 07, Overview on Implementing FAS 158 for Year-End Financial Reporting
8. jan 07, Opinion: Pensions Are All About the Future; Today's Pension Accounting Is All About the Past (PDF)
9. [2/23/07] Watson Wyatt Insider: Looking into the FASB’s Crystal Ball: What’s on the Horizon for Phase Two of Postretirement Benefit Accounting Reform? http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=17098
10. [4/23/07] Watson Wyatt Insider: Looking into the FASB’s Crystal Ball: What’s Ahead for Liability Measurement? http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=17303
11. [6/1/07] Watson Wyatt Insider: Looking Into the FASB’s Crystal Ball: What’s Ahead for Balance Sheet Consolidation?
12. Overview: FASB Final Statement on Accounting Reform for Postretirement Benefits
13. Sticky Issues Surround Pension Reform , july 2006
14. Overview- Final FASB Decision Made On Retirement Disclosures
15. [8/10/06] Watson Wyatt Insider: FASB to Implement Postretirement Benefit Accounting Reform in 2006, http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=16376

Plan Termination Insurance for Single-Employer Pension Plans

1. chapter 16 (skim)
2. Private Pensions: The Pension Benefit Guaranty Corporation and Long-Term Budgetary Challenges, GAO-05-772T, June 9, 2005 (required)
3. Davd Walker's March 2, 2005 testimony (GA0 report)
4. New Tug of War Over Excess Pension Cash
5. Whoops! There Goes Another Pension Plan
6. American Benefits Council:  Promises To Keep: The True Nature of the Risks to the Defined Benefit Pension System http://www.americanbenefitscouncil.org/documents/pbgcdraft092205.pdf
7. Congressional Budget Office:  The Risk Exposure of the Pension Benefit Guaranty Corporation, http://www.cbo.gov/ftpdocs/66xx/doc6646/09-15-PBGC.pdf
8. A Guide to Understanding the Pension Benefit Guaranty Corporation (PDF)
   32 pages. Excerpt: "[This paper] aims to provide a basic understanding of federal pension insurance, the operations of PBGC, and the financial condition of and the outlook for the agency over the next 10 years." (U.S. Congressional Budget Office)
9. http://www.pbs.org/newshour/bb/economy/july-dec03/pension_9-25.html#
10. Written Testimony of GAO at Senate Hearing on PBGC Deficit and DB Plans Generally
11. Pensions in Peril

Taxation of Distributions

1. chapter 27  (required)
2. Investment Tax Planning for Retirement
3. [1/12/07]  Internal Revenue Service:  401(k) Resource Guide - Plan Sponsors - General Distribution Rules http://www.irs.gov/retirement/sponsor/article/0,,id=151926,00.html

Taxation of periodic payments

1. simplified method worksheet

solution for example in class (print this out and bring it to class)

Company Stock and NUA

1. Company Stock in a 401(k) Can Offer Tax Advantages, More Flexibility
2. Company Stock Bonanza- Sometimes an IRA Rollover Is Not Your Best Move
3. If you own company stock in your 401(k), you're eligible for a little-known tax break

Early distributions

1. A little-known way to dip into a 401(k) before you turn 59-1-2

IRAs

1. Avoid five-year tax trap

Minimum Distribution Rules

1. New IRA Distribution Rules Benefit Retirees (required)

SIMPLE Plans, IRAs, Keoghs, SEPs

1. Retire.Chpt11.SIMPLE.28Oct.edit2.pdf (required)

EGTRRA modifications

1. Default IRAs for small distributions, Not before DOL issues final regulations, which must be done by June 2004, Mandatory (only for plans with involuntary cash-out provisions)

Executive Retirement Arrangements

1. chapter 20 (required)
2. Protecting Deferred Compensation With Bankruptcy Insurance (required)
3. Top Hat Plans Under Fire

Retirement Planning

required

1. Retirement: You'll need far more than you think (required)
2. Making retirement income last a lifetime, TIAA
3. [11/15/06] Aon Consulting Forum: Results of the 2006 On Track Retirement Study (required) http://www.aon.com/about/publications/pdf/issues/oct_06_article2.pdf
4. Income Replacement Ratios (aon, pdf, required)
5. Georgia State University Retirement Income Replacement Ratio Study (aon, pdf, required)
6. Do Accumulation Models Overstate What's Needed to Retire?; By: Tacchino, Kenn; Saltzman, Cynthia., Journal of Financial Planning, Feb99, Vol. 12 Issue 2, p62, 12p, 2 graphs (bsp, required)
7. Playing Catch-Up When Your Salary Stalls (required)
8. Assessing Retirement Income Needs (required, PDF) (pp. 1-4)
9. Journal of Financial Planning:  Reality Retirement Planning: A New Paradigm for an Old Science, by Ty Bernicke http://www.fpanet.org/journal/articles/2005_Issues/jfp0605-art7.cfm
10. Graham, WSJ panel on the nest-egg blues (required)
11. Insurance companies aim to breathe new life into old product (required)

Optional for Spring 2007

12. Measuring Retirement Income Adequacy: Calculating Realistic Income Replacement Rates (required)
13. Measuring Retirement Income Adequacy, Part One: Traditional Replacement Ratios and Results for Workers at Large Companies (required)
14. Can America Afford Tomorrow's Retirees: Results from the EBRI-ERF Retirement Security Projection Model (required)
15. Will More of Us Be Working Forever? The 2006 Retirement Confidence Survey (required)
16. http://www.bc.edu/centers/crr/issues/ib_40.pdf Issue in Brief: Is Adverse Selection in the Annuity Market a Big Problem? (PDF)
17. Overview of the New Medicare Law (PDF)
18. Annuities: Lifetime security in a defined contribution plan, Mercer

optional

1. The Fidelity Research Institute Retirement Index: 2007 Research Findings (PDF)
   12 pages. Excerpt: "The Fidelity Research Institute Retirement IndexSM is an industry-leading analytical measure that tracks the progress Americans are making in preparing for retirement." (Fidelity Research Institute)
2. Getting Ready for Retirement- What You Need to Know About Annuities
3. Issue in Brief: Will Reverse Mortgages Rescue the Baby Boomers?
4. Retirement Risk Survey
   > Link to prior study short report - key findings and issues: http://www.soa.org/sections/rrs_findings.pdf
   > Link to prior study full report:  http://www.soa.org/sections/rrs_report.pdf

Investment of DB assets

1. Pension Funds and Financial Innovation; Bodie, Zvi; Financial Management, Tampa; Autumn 1990; Vol. 19, Iss. 3; pg. 11 
2. [6/1/07]  McKinsey & Company:  The Coming Shakeout in the Defined Benefit Market

http://www.mckinsey.com/clientservice/bankingsecurities/pdf/coming_shakeout_in_defined_benefit_market.pdf

Plan Corrections (if time permits)

1. DOL's Voluntary ERISA Fiduciary Correction Program
2. When the IRS Audits—Being Right Can Be a Costly Experience
3. Rev. Proc. 99-31 Provides Model Correction Methods Under EPCRS
4. New Voluntary Fiduciary Correction Program
5. Pension Plans: IRS Programs for Resolving Deviations from Tax-Exemption Requirements (PDF) (U.S Government Accounting Office)
6. Voluntary Correction Cheaper Than Audit Roulette
7. IRS Survey Profiles Common 401(k) Plan Qualification Violations
8. Correcting Systemic Qualification Failures: Group VCR

403(b) (if time permits)

1. Understanding 403(b) Contribution Limits
2. Publication 571Tax-Sheltered Annuity Plans (403(b) Plans)
3. [3/1/07] Internal Revenue Service: 403(b) Plan Checklist http://www.irs.gov/pub/irs-pdf/p4546.pdf

ESOPs (if time permits)

EGTRRA modifications

1. ESOP dividend reinvestment option, 2002, Optional

1. Chapter 10
2. Reinvigorating Aging ESOPs
3. Introduction to Employee Stock Ownership Plans (PDF)
4. 8/12/2000: Why Employee Stock Ownership Plan Didn't Help United Air Lines (New York Times; free registration required)
5. Employee Stock Ownership Plans- A Status Report
6. Employee stock ownership plans (part II); John L Utz; Journal of Pension Planning and Compliance, Greenvale; Winter 2000; Vol. 25, Iss. 4; pg. 1, 34 pgs (proquest)
7. Employee stock kownership plans (part I); John L Utz; Journal of Pension Planning and Compliance, Greenvale; Fall 1999; Vol. 25, Iss. 3; pg. 1, 47 pgs (proquest)
8. Largest Study Yet Shows ESOPs Improve Performance and Employee Benefits
9. ESOP Provisions in the Economic Growth and Tax Relief Reconciliation Act of 2001

State and local (if time permits)

1. Employee-Retirement Systems of State and Local Governments (PDF)
2. [1/25/07]  National Association of State Retirement Administrators:  Key Facts Regarding State and Local Government Defined Benefit Retirement Plans http://www.nasra.org/resources/Key%20Facts%20on%20Public%20Employee%20Retirement%20Plans.pdf
3. IRS Notice 2000-38 On Withholding, Reporting Requirements for 457(b) Plans
4. State and Local Government Public Employee Retirement Systems
5. 2000 Comparative Study of Major Public Employee Retirement Systems (PDF)
6. The Public Pension Coordinating Council Standards Award Program (PDF)  http://www.nasra.org/2005%20PPCC.pdf, jan 2006
7. 2004 Comparative Study of Major Public Employee Retirement Systems (PDF)

EGTRRA

Compilation of Online Resources About EGTRRA

Sponsor implementation

1. Pension Catch-Up Provision Carries Big Catch

Post-EGTRRA activity

1. American Academy of Actuaries Comments on Need for Technical Corrections to EGTRRA (PDF)
2. Analysis- Guidance on Catch-Up Contributions
3. Overview- Proposed Catch-Up Regulations
4. Overview- EGTRRA Increases Plan Contribution and Benefit Limits
5. Overview- Rollover Rules After EGTRRA
6. EGTRRA- New Limits, New Opportunities
7. Analysis- IRS Publishes Model Amendments for EGTRRA (PDF)
8. EGTRRA requires action on employee benefit programs before year end; Kenneth E Bonus; Compensation & Benefits Management, Greenvale; Autumn 2001; Vol. 17, Iss. 4; pg. 19, 5 pgs (proquest)
9. Managing 401(k) plans: New tax law makes liberal 401(k) changes; Gerald M Levinson; Compensation & Benefits Management, Greenvale; Autumn 2001; Vol. 17, Iss. 4; pg. 45, 3 pgs (proquest)
10. The 2001 tax law: A congressional vanishing act, but with real magic for retirement plans; Alvin D Lurie; Compensation & Benefits Management, Greenvale; Autumn 2001; Vol. 17, Iss. 4; pg. 1, 9 pgs (proquest)

Post-EGTRRA IRS activity

1. HTML version of IRS Notice 2001-57
2. HTML version of IRS Notice 2001-56
3. IRS Issues Sample Amendments to Comply With EGTRRA Good Faith Amendment Requirement
4. IRS Clarifies Effective Dates Under EGTRRA for Compensation Dollar Limit Increase, Top Heavy Changes

Comprehensive Outline

1. Analysis- Pension Plans and IRAs Under EGTRRA (not required, but highly recommended)

Required reading

1. Retirement Plan Provisions: What, When, and How Much? Economic Growth and Tax Relief Act of 2001 (pdf) (required)
2. Impact of EGTRRA on Employer Plans (PDF) (required)

Optional enrichment reading

The following is a list of links that will provide you with some additional background to understand the new provisions.   None of these are required per se.  They range from very cursory to extremely detailed.

1. Employee Benefits Provisions Under the Economic Growth and Tax Relief Reconciliation Act of 2001 (PDF)
2. Pension Reform Provisions of the Economic Growth & Tax Relief Reconciliation Act of 2001
3. Economic Growth and Tax Relief Reconciliation Act of 2001 Employee Benefits Provisions
4. Highlights of the Economic Growth and Tax Relief Reconciliation Act of 2001
5. Overview of the Economic Growth and Tax Relief Reconciliation Act of 2001
6. Principal Benefits Provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (PDF)
7. Chart of 415, Etc., Limits Updated for H.R. 1836, Economic Growth and Tax Relief Reconciliation Act
8. EGTRRA Summary, From an Actuary's Perspective
9. Analysis- Elimination of Optional Forms of Benefits After EGTRRA (PDF)
10. Analysis- Modifications to Top-Heavy Rules Under EGTRRA (PDF)
11. EGTRRA Changes Bring Expanded Portability Choices Increase Responsibilities For Plan Sponsors (PDF)
12. Analysis- Expansion of Disclosure Requirements by EGTRRA (PDF)
13. EGTRRA, EGTRRA, read all about it; Gary S Lesser; Rough Notes, Indianapolis; Aug 2001; Vol. 144, Iss. 8; pg. 72, 2 pgs (proquest)

    Pre-EGTRRA information

1. In connection with a markup of H.R. 10 scheduled by the House Ways and Means Committee for Wednesday, April 25, the JCT has issued Description Of The Chairman's Amendment In The Nature Of A Substitute To H.R. 10, The "Comprehensive Retirement Security And Pension Reform Act Of 2001 (JCX-25-01).
2. JCT Executive Summary of Tax Code Simplification Report (PDF)
3. JCT Estimates Revenue Effects of Portman-Cardin Bill (PDF)
4. JCT Description of Portman-Cardin Bill Being Marked Up in House Committee April 25, 2001 (PDF)
5. Expanded 401(K) May Not Help Many; Workers Salary Restrictions, Affordability Cited

"Technology" links

Still River publications (start here)

1. http://www.stillriverretire.com/SRRPS_FinancialTopics.asp

Misc

1. Online 401(k) Plans Altering Market
2. New e-Services Make 401(k) Plans Simpler For Smaller Firms
3. Fidelity Launches Portal to Integrate All Benefit Programs
4. Financial Engines- a Wizard of Odds
5. A model of savings behavior and the amount saved in retirement accounts; Sharon A DeVaney; Journal of Financial Service Professionals, Bryn Mawr; Mar 2001; Vol. 55, Iss. 2; pg. 72, 9 pgs (proquest)
6. CitiStreet Launches Internet-based 401(k) Service
7. American Express Retirement Services Launches Online Retirement Tool; New Tool Guides Participants
8. Web-Based Services Dominate Best 401(k) Cost Control Techniques
9. Simplified Pension Calculator - Actuary Posts Excel Spreadsheet Online (James Turpin of the American Academy of Actuaries)
10. Making Retirement Income Last a Lifetime

Estimating IRA balances

1. Modeling IRA accumulation and withdrawals; John Sabelhaus; National Tax Journal, Washington; Dec 2000; Vol. 53, Iss. 4; pg. 865, 11 pgs (proquest)

Treatment of Social Security benefits

1. Should Social Security be included when projecting retirement income?; Kenn B Tacchino; Journal of Financial Planning, Denver; Mar 2001; Vol. 14, Iss. 3; pg. 98, 11 pgs (proquest)

Estimating retirement ages

1. Retirement patterns and employee benefits: Do benefits matter?; Paul Fronstin; The Gerontologist, Washington; Feb 1999; Vol. 39, Iss. 1; pg. 37, 11 pgs (proquest)

Projecting future stock market returns

1. What stock market returns to expect for the future?; Peter A Diamond; Social Security Bulletin, Washington; 2000; Vol. 63, Iss. 2; pg. 38, 15 pgs (proquest)

Projecting future wages for participants

1. The Trend in Lifetime Earnings Inequality and Its Impact on the Distribution of Retirement Income

New reference

PBGC has posted its 2005 data book

Private Pension Plan Bulletin, Abstract of 2003 Form 5500 Annual Reports

Directory: Resources for Actuaries on Pension Finance

Publications

Spending and Investing in Retirement--Is There a Strategy?
Excerpt: "The SOA's Committee on Post Retirement Needs and Risks, and Pension Section Research Team . . . make available material from a new research study that examines how retirees approach key financial decisions about managing their money in retirement. The objective of the research . . . was to collect first hand accounts from six focus groups comprised of retirees in several locations nationwide." (Society of Actuaries)

Issue in Brief: An Update on Private Pensions -- August 2006 (PDF)
12 pages. Excerpt: "The key finding is that total pension coverage has remained stagnant while the nature of coverage has continued to shift to 401(k) plans. These developments, coupled with declining levels of earnings replacement under Social Security, mean that future retirees will have to work longer if they want to maintain their pre-retirement standard of living in retirement." (Center for Retirement Research at Boston College)

Watson Wyatt Insider -- Trends in Pensions 2005 (PDF)
54 pages. This edition covers: Pension Fund Finances for 2005; Recent Funding and Sponsorship Trends Among the Fortune 1000; Pension Fund Finances and Business Risk; How Do Retirement Plans Affect Employee Behavior?; Increasing Employees' Appreciation of Their Retirement Programs; Defined Benefit Plans Become Significantly More Valuable; Do Aggressive Funding Policies Lead to Higher Credit Ratings?; and, Lessons for DB Pensions and the Retirement Ecosystem. (Watson Wyatt Worldwide)