Products February 9, 2009

EBSA Announces Online 5500 Walk-Through

Plan sponsors will get a walk-through of the 2009 Form 5500 reports and a new electronic filing Web site from a scheduled February 19 Webinar from the Department of Labor's Employee Benefits Security Administration (EBSA).
Reported by

According to an EBSA news release, the Webcast will cover:

  • the new simplified annual reporting form for small plans with easy to value investments
  • expanded reporting by large plans of compensation received by plan service providers
  • realignment of the reporting rules for 403(b) plans subject to Title I of the Employee Retirement Income Security Act (ERISA) to make them on par with 401(k) plans
  • annual reporting changes required by the Pension Protection Act or defined benefit pension plans and multiemployer plans.

The modernized version of the ERISA Filing Acceptance System—known as EFAST2—will receive only electronic filing submissions, provide quick responses in the event there are errors in a filing and publicly disclose filed Form 5500 reports through the EFAST Web site.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

The Webcast will take place from noon to 2 p.m. EST, the agency said. More information will be available at www.dol.gov/ebsa or by contacting Patricia Humphlett at 202.693.8660.

Deals & People February 9, 2009

Garen Named to New York Life Participant Strategy Role

New York Life Retirement Plan Services, a division of New York Life Investments, has appointed Deanna Garen managing director of participant strategy.
Reported by

In this newly created role, Garen will oversee New York Life’s participant communications group, the rollover strategy team and also the participant service center, according to a release. She will report to Don Salama, senior managing director of New York Life Retirement Plan Services.

Garen previously was an independent consultant as principal of Garen Consulting LLC. Prior to that, she served at Prudential Retirement as senior vice president of strategic planning and development, responsible for the development and implementation of Prudential Retirement’s overall business strategy.

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

Prior to joining Prudential, Garen was head of communications and education for CIGNA’s full-service retirement business, which was acquired by Prudential in April 2004, the announcement said. She was responsible for the development and delivery of education services for retirement plan participants, including web-based solutions.

“We created this new strategic position to manage all participants’ interactions with their plan. Given Deanna’s extensive expertise and successful track-record in the industry, we look forward to her contributions in this critical function,” said Salama, in the release. “Additionally, we are pleased to be in a position to hire in such a difficult market environment. I believe it underlines our strong commitment to the retirement business.’

«