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The
Savitz Organization is a full-service employee benefits firm. We
work in partnership with our clients to optimize the design, financing
and delivery of their retirement and health care programs. Based
in Philadelphia, with offices in Atlanta and Boston, we have been
servicing clients nationwide for over 40 years. We work with a
broad range of both large and small employers, including public
and private corporations, tax-exempt entities and multi-employer
groups.
Visit us at www.savitz.com. |
Emerging Issues for ERISA Fiduciaries
The changing economic and regulatory environment of the last few years has brought new issues before ERISA fiduciaries for employer retirement plans. Now, more than ever, understanding who is a fiduciary and the rules that apply to plan fiduciaries is of critical importance. |
New Form 5500 Filing Requirements for 403(b) Plans
By now, non-profit organizations that sponsor 403(b) plans have hopefully heard of the changes for 2009. Among these changes is the requirement to begin filing a complete Form 5500 annual return of employee benefit plans with the Department of Labor, starting with the 2009 plan year. Although the 2009 filing deadline is still at least a year away and the Department of Labor has provided some transition relief for 2009 plan year filings (FAB 2009-02), larger 403(b) plan sponsors who fail to begin planning for this new requirement may find themselves behind the curve and struggling to meet their reporting deadlines. |
The Truth About What Drives Healthcare Costs
Healthcare costs in the U.S. have been, and remain, on the rise. Employers struggle to balance the cost of providing valuable healthcare benefits with other financial demands on their businesses. In an effort to combat these cost increases and stave off the need to reduce or eliminate healthcare coverage entirely, employers are getting smarter about analyzing employee utilization data to understand what is truly driving the cost of coverage for their workforce. |
Credit Balance Management in a Post-PPA World
The Pension Protection Act (PPA) of 2006 brought forth many changes to the single employer defined benefit plan funding rules. One significant change was to the relatively benign concept of a "credit balance" -- the account established under the pre-PPA funding regime to track an employer's compliance with the minimum funding requirements. Simplicity has been replaced by elections, waivers, restrictions, offsets and much more as the rules surrounding credit balance maintenance have changed dramatically. |
Withdrawal Liability: It's Time to Get Your Checkup!
The concept of "Withdrawal Liability" for multiemployer plans has existed since 1980, but has been hidden from most contributing employers. Now, with dramatic drops in asset values, pension plans that previously had no such liability may find that it's lurking nearby, much like that twinge in your sweet tooth that you hope will go away if you just ignore it. |
Providing Superior Service to Retirees
The reality is that benefit plan participants rarely call their Human Resources department or benefits call center just to say hello. When a call is necessitated, it signifies a need for help. For retirees, getting the answers and assistance they need can be a particularly urgent and stressful situation. |
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| The
intended audience of this email Newsletter consists of clients,
and other contacts, of The Savitz Organization. It provides general
information which may be of interest to employers. It is not intended
to be relied upon as complete information, nor should it be relied
upon as specific tax or legal advice. While every attempt is made
to ensure accuracy, we do not warranty the accuracy of the information.
To the extent this email message concerns tax matters, it is not
intended to be used and cannot be used by a taxpayer for the purpose
of avoiding penalties that may be imposed under the Internal Revenue
Code or applicable state or local tax law provisions. |
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