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Is the Economy Strengthening?

Data from the Profit Sharing/401k Council of America’s (PSCA) just-released 2010 401(k) and Profit Sharing Plan Response to Current Conditions survey may indicate that it is; companies that suspended or reduced contributions to 401(k) and profit sharing plans due to economic conditions are restoring or planning to restore them.

“On January 20 at the West Coast Regional Conference in LA, I am excited to share the good news with the LA business community. Companies continue to make their 401(k) plans a top priority,†said David Wray, PSCA President. “Those that have suspended their matches are in the process of restoring them, and companies are aggressively restructuring their investment lineups.â€

“Employees are also continuing to contribute to their plans, with many increasing their contributions. While nearly 40 percent of companies reported no change to the number of employees making contributions, 31.6 percent indicated an increase,’ continued Wray.
In the last year, companies were actively engaged in managing their plans. They increased employee education, added investment advice, and more closely monitored plan investments.

The survey was conducted in October 2010 and reflects the responses from 531 401(k) and profit sharing plan sponsors from across the country. PSCA conducted a similar survey of 403(b) plans. Both reports are available at www.psca.org.

David Wray’s Presentation — Connecting Your Company with Your Employees to Deliver Win-Win Solutions describes the new retirement plan landscape, the emergence of the new defined contribution paradigm, and its impact on companies and their employees.

In addition to David, attendees at the conference will hear from industry leaders and topics such as:

• Washington Update
Ed Ferrigno, PSCA’s Vice President, Washington Affairs, discusses his perspective about how the results of the 2010 midterm election will impact plan sponsors in 2011 and beyond.

• Risk Management in the New Normal and How it Impacts Defined Contribution Plan Design
Nationally recognized financial industry expert, Stacy Schaus, Senior Vice President PIMCO will discuss how shifting global growth drivers, heightened government participation, and a host of market uncertainties continue to challenge investment assumptions and strategies. PIMCO investment professionals will present a current state of the markets, including how it impacts DC plan design.

Plan sponsors can register on-line at PSCA.org. The one-day registration fee ($350 for PSCA members; $495 for non members) will entitle them to attend Concurrent Workshops such as:

• Can You Provide Income for Life for Your 401(k) Plan Participants? How In-Plan Retirement Solutions Can Help
– Rick Unser, Lockton Investment Advisors, LLC

• Fiduciary Risk Management – Marla Kreindler, Winston & Strawn LLP

• The Art of Understanding, Documenting, and Negotiating Plan Fees – Nick Della Vedova, 401(k) Advisors

• What You May Not Know About Your Investment Advisor – David Hudak, Portfolio Evaluations, Inc.

• Benefits Regulation and the Bottom Line – Robert Yoder, Yoder & Langford, P.C.

• A Perfect 401(k) Plan – Catherine Collinson, Transamerica Center for Retirement Studies

• Inflation Risk and DC Plans – Jed Petty, Wellington Management

• Automatic 403(b)s Come of Age – Peter Chandler, Associate Director of Investor Education, FINRA

“For over 60 years PSCA has championed employer-sponsored retirement plans for thousands of companies and millions of American workers,†said Wray “Through our education efforts, publications and conferences, PSCA has presented industry thought leaders who have provided insights and support to help plan sponsors and their employee plan participants build a world-class retirement system.â€

***About the Profit Sharing/401k Council of America***

The Profit Sharing/401k Council of America (PSCA), a national non-profit association of 1,200 companies and their 6 million employees, advocates increased retirement security through profit sharing, 401(k) and related defined contribution programs to federal policymakers and makes practical assistance with profit sharing and 401(k) plan design, administration, investment, compliance and communication available to its members. PSCA, established in 1947, is based on the principle that “defined contribution partnership in the workplace fits today’s reality.†PSCA’s services are tailored to meet the needs of both large and small companies with members ranging in size from Fortune 100 firms to small, entrepreneurial businesses.

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