Products June 26, 2012

White Paper Addresses Fiduciary’s Role in DB Plan Terminations

June 26, 2012 (PLANSPONSOR.com) - A white paper sets out a checklist of plan sponsor and fiduciary actions that need to be considered and implemented as part of the defined benefit plan termination process.
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The paper, “The Fiduciary’s Role in the Termination of Single Employer Defined Benefit Plans: A Practical Guide,” released by CAMRADATA Analytical Services, further expands on the fiduciary’s risks and responsibilities in bringing the termination to a close.

Kevin O’ Brien and Rosina Barker, partners in Ivins, Phillips & Barker’s Washington D.C. office co-authored the paper.  The authors conclude the paper by stating, “As soon as practical once the plan sponsor’s decision is underway, and certainly before taking significant steps to implement it, the fiduciary should begin constructing the well-considered fiduciary process needed to bring about a successful, efficient termination immune from legal challenge.”  

The paper can be downloaded from http://www.camradata.com/prtfiduciarypaper.  

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Products June 25, 2012

Transamerica Unveils Retirement Savings Game

June 25, 2012 (PLANSPONSOR.com) - Beware of the money trolls, creatures that portray setbacks to saving for retirement in a new Facebook game.
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Transamerica Retirement Services’ Stash & Dash allows players to collect coins representing different ways of earning income. They then must be deposited along the way to earn interest.

The goal of the game is to collect as many coins as possible. But the money trolls can take some of those coins away.

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Those trolls represent unexpected expenses like having to pay a parking ticket or buy a new cell phone, said David Shute, vice president of marketing for Transamerica Retirement Services.

The game consists of three segments of retirement in 15-year increments. More trolls challenge users as the game progresses, just as people saving for retirement face more challenges as they age, Shute said.

Players can invite friends to try and beat their scores. They can also post their scores on their Facebook wall.

Ultimately, Shute said, he hopes users take away the importance of saving for retirement. “We’re not trying to be FarmVille,” he told PLANSPONSOR, referring to the popular Facebook game. “We’re trying to create awareness on the topic.”

The free game is available here or through the Apple iTunes store.  

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