Products February 4, 2010

Nuveen Introduces Online Roth Conversion Resources

February 4, 2010 (PLANSPONSOR.com) - Nuveen Investments announced its online 2010 Roth IRA Conversion Center is now available to advisers and investors.
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The announcement said the resource center brings together the expertise of Nuveen Investments’ Retirement Markets, Wealth Management, and Mutual Funds teams to lay out an educational plan-of-action for advisers preparing their clients for the 2010 Roth IRA Conversion option.

The Roth IRA Conversion Center features two white papers, Roth IRA Conversion: New Opportunities for Affluent Investors – an in-depth examination of the Roth IRA program, crafted for advisers by Nuveen’s Wealth Management Services, which discusses Conversion Tax Liability, Partial Conversion, and Recharacterization options – and Weighing the Roth Conversion Opportunity – a briefing paper addressing who should consider converting as well as a traditional IRA and Roth IRA comparison tool.

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There is also an IRA Strategies Brochure that explores how IRAs can contribute to an investor’s larger retirement plan.

In addition to the printed material available on the site, there is a video series that provides both an overview to the 2010 Roth IRS Conversion Option as well as two issue-specific discussions that both advisers and investors should consider.

The three videos included in this series, according to the announcement, are:

  • “The Roth IRA Conversion Opportunity;”
  • “Recharacterization Feature of Roth IRA Conversions;” and
  • “Asset Location Strategies in Retirement Accounts.”

The site is available at http://www.nuveen.com/Retirement/Default.aspx.

Compliance February 4, 2010

Lawmakers/Companies Make Further Plea for Pension Funding Relief

February 4, 2010 (PLANSPONSOR.com) - On a press conference call on February 4, an array of employers and retirement experts joined with Congressman Earl Pomeroy (D-North Dakota) to call for temporary pension funding relief.
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A central theme of the plea was how no relief could hinder the nation’s economic recovery.  “If left unaddressed, the issue of pension funding could throw a roadblock into our economic recovery,” said Pomeroy. “Pension funding relief would provide employers more cash on hand to save and create jobs and to inject into the economy, while giving workers enhanced job security and strengthened pension plans over the long-term.”

Last October, the American Benefit Council, represented in the call, issued a report contending that the accelerated pension funding mandates in the Pension Protection Act are costing the U.S. economy much-needed jobs (see ABC Contends Pension Funding Rules Cost U.S. Jobs).

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Pomeroy, along with Representative Pat Tiberi (R-Ohio), has sponsored The Preserve Benefits and Jobs Act which proposed to expand pension funding relief provided in the Worker, Retiree and Employer Recovery Act (WRERA) in 2008 and the Department of the Treasury regulatory guidance for 2009 reducing employer contributions (see House Members Introduce Pension Funding Relief Measure).

An analysis by Mercer indicates pension plan sponsors face sharply higher contributions for 2010 (see DB Sponsors Face Significantly Higher Contributions in 2010).

More information about the efforts to secure funding relief is here.

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