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December 5, 2006, 12:00 – 2:00pm EST
Pension Reform 2006 and the Impact on 401(k)s
SPEAKERS FOR THIS EVENT:
- Gloria Bowden, Senior Tax Counsel, Coca-Cola
- Robert Smart, Founder, RetirementSmarts and Smart Planning Company
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How the Pension Protection Act Impacts Benefit Administration

The number of employees covered by a defined-benefit pension has been steadily declining in the past few years, resulting in more and more Americans having inadequate savings for retirement.

In August 2006 President Bush signed the Pension Protection Act, looking to bolster retirement savings. The legislation strongly encourages automatic enrollment in the company’s 401(k) plan to all eligible employees and to automatically increase annual contributions. It also allows investment advice to be given by the plan provider.

The changes affecting 401(k) and other defined contribution plans are: automatic 401(k) plan enrollment, automatic escalation of contributions with 3 percent of compensation by the end of the first year, 4 percent in year two, 5 percent in year three and 6 percent thereafter, and providing investment-related guidance to help workers get better returns on their savings.

The Pension Protection Act of 2006 has created a whole new list of notice and logistical requirements that HR professionals will be actively involved in implementing and overseeing.

Our speakers will discuss the most notable changes impacting 401(k) plans and outline the key actions the HR professional or anyone who is involved in administrating retirement plans need to take to comply with the new law. 

THIS PROGRAM IS INTENDED FOR:

VPs and Directors of:

  • Compensation and Benefits
  • Retirement Investments
  • Compliance, Reporting and Recordkeeping
  • Employee Relations

CHROs

Employee Benefit Tax and Legal Counsel

CFOs

    SPONSORING PARTNER:
     

    Retirementsmarts.com was created to give participants an easy and affordable means to receive objective advice on how best to combine their 401k, 403b, or 457 plan investment alternatives to produce the highest return for the degree of risk assumed. It combines the most advanced technologies for risk measurement and asset allocation. The asset allocation models are not tied to a particular investment manager, buy are customized for the investment choices available within each employer plan and are based on each individual employee’s goals and tolerance for risk.

    Specialized versions are available for plans with less than 500 employees and IRA rollovers. Retirementsmarts.com is the ideal means to comply with the Pension Protection Act of 2006.

    Grand Rapids based, Retirementsmarts.com is the product of over thirty years experience in working with employers and employees to design and manage qualified retirement plans. https://www.retirementsmarts.com/

    ABOUT OUR SPEAKERS:
    Robert Smart, Founder, RetirementSmarts and Smart Planning Company


    RetirementSmarts.com was founded as a way to assist employees and individuals in navigating the complicated process of retirement planning and investing. Bob founded Smart Planning Company in 1987, and currently serves as President where he provides comprehensive and objective financial planning advice to business owners and professionals. Prior to founding his own companies Bob spent 11 years with Connecticut General Life Insurance Company/Cigna as a Michigan Brokerage Manager, where his office received the Outstanding Agency Award in 1982, he also served as Regional Vice President for the company in St. Louis.  Bob has also managed a portion of the Public Employee Pension funds for the State of Michigan.

    Bob has spent over 30 years designing, investing and managing qualified retirement plans for both individuals and corporations.  He holds a BA in economics from the University of Michigan and has done graduate work in finance at Michigan State University.

    Bob has served as President of the Kentwood Rotary Club, as a member of the board of directors for Habitat for Humanity of Kent County, and the vestry of St. Mark’s Episcopal Church.  He has been a candidate for both State Representative and State Board of Education.  His wife Martha is the Director of the Kent District Library System.

     
     
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