A Manager's Guide to Strategic Retirement Plan Management by Daniel Cassidy

By Daniel Cassidy

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"The booklet bargains strategic and pragmatic "tell it love it is" recommendation on numerous key issues..." (PEF, July 2007)

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"Daniel Cassidy has written a close, complete advisor for managers to appreciate and be triumphant on the ongoing strategy of dealing with an organization retirement plan. If motivating your staff is necessary to you as a supervisor, this booklet is a necessary key for your success." --Josh Gordon, writer of displays that vary Minds and promoting 2.0 Written through popular retirement advantages making plans expert Daniel Cassidy, A Manager's consultant to Strategic Retirement Plan administration specializes in present top practices concerning company-sponsored retirement plans in the usa. packed with in-depth insights and professional suggestion, this invaluable advisor will relief managers in utilizing strategic pondering to their retirement plan administration activities--whether or not it's a 401(k) plan, making an investment in corporation inventory, or a conventional outlined gain plan. it is going to additionally assist you to view retirement plans in a holistic manner--ever extra worthwhile given the unpredictable financial system and up to date problems with businesses comparable to Enron and WorldCom. masking every thing from administrative matters to monetary and felony duties, A Manager's consultant to Strategic Retirement Plan administration will let you make the simplest judgements attainable whereas handling this ongoing approach and assist you locate options that top suit your organization's particular wishes.

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Sample text

In an attempt to make plan fiduciaries wake up and take their responsibilities seriously, SOX increased the penalties for both individuals and corporations who violate ERISA. Maximum fines for individuals were increased to $100,000 from $5,000 and the maximum prison time increased to 10 years from 1 year. Fines for corporations who violate ERISA increased to $500,000 from $100,000. The above changes had immediate and visible impact on pension plans. However, the additional requirements of SOX focus more on Fiduciary Duty 45 business issues and have far-reaching impact on the management of pension plans.

These are: ■ Timing tools • Funding • Accounting/actuarial ■ Risk level tool • Investment The fourth tool—plan design—will be examined in Chapter 6. 1 to refresh your memory of the governance tools available to you in managing a retirement plan. The three financial tools (funding, accounting/actuarial, and investment) are all available to the 49 50 A MANAGER’S GUIDE TO STRATEGIC RETIREMENT PLAN MANAGEMENT defined benefit (DB) plan sponsor. We will discuss each one in detail but in reality, all three are interwoven.

A wide variety of funds. Fiduciaries also thought that if they had 20 funds in their investment line-up, then if one fund “tanked,” it would not be so bad. However, recent notices from the Department of Labor have changed people’s opinion. The Department of Labor’s view is that more funds equals more oversight. As a result, many fiduciaries are looking at cutting back the number of fund choices. Combine the Department of Labor’s view with the complexity of communicating 20-plus funds and you can see this as a reasonable course of action.

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